Nord Precious Metals Updates Gowganda Silver Resource Estimate

Nord Precious Metals Mining Inc. has announced an updated mineral resource estimate for its Gowganda Silver Tailings Project in Ontario, Canada. The new estimate, prepared by GeoVector Management Inc., reveals an Indicated Mineral Resource of 1,845,000 tonnes grading 47.4 grams per tonne (g/t) silver, containing 2,814,000 ounces of silver. This resource is based on 1.845 million tonnes of historical tailings at the surface, providing a solid foundation for the company's silver-recovery and permitting program.

Frank J. Basa, Nord's Chief Executive Officer, stated, "The updated resource gives us a defined silver inventory and a firm technical foundation for the work supporting our recovery-permit application. Our objective is silver production at Gowganda, and we are pressing the engineering, metallurgy, and permitting work forward."

The resource estimate covers the Main Tailings, South Tailings, and two outflow domains. GeoVector integrated historical drilling and subsequent drilling by previous operators with updated surface information and a three-dimensional model of the tailings base. The work follows the company's May 19, 2026, announcement of GeoVector's engagement.

According to the Mineral Resource Estimate, the base case cut-off grade is 10 g/t silver. The silver price is assumed at US$65/oz, and the overall operating-cost assumption is C$17/t, drawn from a published Ontario tailings benchmark. These assumptions were used to establish the resource reporting cut-off; they do not constitute an economic study. Gowganda-specific capital and operating costs remain to be established through further engineering and economic work.

The metallurgical program is focused on evaluating concentration options and characterizing the resulting products and residual tailings. These results will guide process selection, engineering, water management, and economic evaluation. Okane has begun technical reviews supporting the planned Mineral Recovery Permit application, and Nord has requested a separate proposal for concurrent water-taking and environmental approval planning.

Nord's wider recovery strategy builds on previously reported tailings work at Castle and Beaver Mine. Its July 16, 2025, Castle update documented Test Pit 68 and tailings at the originally proposed gravity-circuit site, where bedrock had previously been mapped. Further characterization could identify material for successive recovery campaigns, extending the opportunity beyond a single project. Nord's longer-term aim is to develop a sequence of silver-recovery and rehabilitation projects that can draw on TTL's processing capability and the technical expertise built through the Gowganda program.

The company's 63 sq. km Castle property, including 225 hectares of leases, hosts the past-producing Siscoe-O'Brien, Castle, and Mill mines. The updated resource estimate anchors the next phase of work, including selecting a recovery process, developing the engineering design, and establishing project economics alongside permitting. These steps are intended to advance Gowganda toward a development decision, starting with material already at surface.

The mineral resource is presented undiluted and in situ, constrained by a 3D grade control resource model, and is considered to have reasonable prospects for eventual economic extraction. The mineral resource is exclusive of mined-out material. Mineral resources which are not mineral reserves do not have demonstrated economic viability.

The Gowganda Tailings MRE is based on 2,898 metres of auger, drive-pipe, and sonic drill-hole samples from campaigns in 1981, 1986, 2000, 2011, and 2018. GeoVector visited the project site in July 2026 to verify the locations of 2011 and 2018 sonic drill holes and independently sampled the tailings to verify silver grades, using ALS Geochemistry in North Vancouver, BC. Nord provided data compiled from historical reports and data received from previous operators. Historical data cannot be fully verified, but the consistency of assay grades across multiple sampling campaigns serves as a reasonable control on accuracy.

The metallurgy and permitting work will continue to focus on evaluating concentration options and characterizing the resulting products and residual tailings. These results will guide process selection, engineering, water management, and economic evaluation. The company is pursuing new metallurgical studies that may use a different processing method.

Nord's recovery strategy is anchored by its wholly owned TTL Laboratories in Cobalt, the only permitted high-grade milling facility in Ontario's historic Cobalt Camp. TTL combines assay and bulk-sampling services with high-grade silver processing infrastructure and silver doré pouring capability. Its crushing, screening, and gravity equipment and bullion furnace give Nord a base for advancing its own projects and developing a broader processing business serving other operators across the historic Cobalt Camp. The company intends to expand that regional role through technical work, commercial arrangements, and the environmental approvals applicable to new material streams.