Company Announcements

Calgary, Alberta--(Newsfile Corp. - December 19, 2025) - North Peak Resources Ltd. (TSXV: NPR) (OTCQB: NPRLF) (the "Company" or "North Peak") announces assay results from a systematic aircore drill program across the historic waste rock pile that sits in front of the Diamond Mine portal at its Prospect Mountain Mine complex (the "Property").

North Peak undertook an 11-hole aircore drill program on the waste rock pile to better characterize the grade distribution. Although there were a number of historical metallurgical investigations from 2008 & 2010 this work had been done only on material derived from surface sampling of the waste rock pile. Surveys and bulk density measurements in the 2010 study indicated the waste rock pile contains approximately 240,000 short tons of material (see Technical Report filed on SEDAR+, as described below).

Aircore samples were taken in predominantly 5ft intervals from vertical holes, with the deepest waste rock pile sample being 61ft from surface. A best assay of 2.34 g/t Au, 68 g/t Ag was reported in hole PM25-001S from 0-5ft. Weighted average values for each hole are presented in Table 1, ranging from 1.28 g/t Au, 34 g/t Ag over 10ft (3.048m) in PM25-007S to 0.24 g/t Au, 18.8 g/t Ag over 20ft (6.097m) in PM25-002S. No holes were unmineralized.

"The aircore sampling program has demonstrated that the waste rock pile is mineralized and the Company will continue with the metallurgical test work on the bulk sample provided by the recent drilling, including bottle rolls and column leach tests to assess the suitability of the material for toll leaching with 3^rd party leach pad operators," commented Rupert Williams, CEO. "The Prospect Mountain Mine complex has a permit for 1,000 tpd underground mining and processing off site, however the Company needs to complete further work to fully outline the extraction and transportation process for this finite project."

"The Company's main objective remains to identify economic quantities of gold mineralization within the Prospect Mountain Property through a drilling discovery. We have recently finished our 2025 exploration drilling program with 14 holes completed, for a total of 4,194m (13,760ft), focusing on four accessible areas and expect assays in Q1 2026. Next year, our proposed exploration program will build on this drill campaign as well as continue to test new cross fault structures that are believed to drive the mineralization within the Eureka camp," added Rupert Williams, CEO.

Hole ID	Depth	Depth	Au	Ag	Easting	Northing	Elevation
	(m)	(ft)	(g/t)	(g/t)	(m)	(m)	(m)
PM25-001S	9.15	30	0.94	26.3	165195	8523464	2406
PM25-002S	6.10	20	0.24	18.8	165188	8523415	2406
PM25-003S	6.10	20	0.29	9.2	165190	8523440	2406
PM25-004S	15.85	52	0.95	25.7	165220	8523482	2403
PM25-005S	18.60	61	0.31	13.9	165230	8523462	2407
PM25-006S	4.57	15	0.72	21.00	165232	8523513	2397
PM25-007S	3.05	10	1.28	34.00	165258	8523509	2389
PM25-008S	6.10	20	0.29	13.50	165260	8523488	2390
PM25-009S	11.89	39	0.29	13.50	165268	8523463	2389
PM25-010S	6.10	20	0.67	17.75	165250	8523446	2396
PM25-011S	3.05	10	0.40	19.00	165180	8523502	2410

 

Table 1: Weighted average composite results for each hole with drill collar positions. Two samples with no recovery were assigned background values as part of the hole composite. Holes were vertical and intervals are 100% of true widths. Coordinates in NAD83m, Nevada East grid, EPSG:32107.

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Review by Qualified Person, Quality Control and Reports

Mr. David Pym, CGeol., Consulting Geologist for the Company, is the Qualified Person (QP), as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Property or any underlying property agreements.

Drilling and Sampling: Drilling was carried out using a track mounted sonic drilling unit for use in unconsolidated material. Samples were decanted into plastic sleeves and sent to McClelland Laboratories Inc., located at 1016 Greg Street, Sparks, NV 89431, an independent certified laboratory. QA/QC procedures included the insertion of blanks, duplicates, and certified reference materials.

Samples are dried crushed and pulverised and assayed for gold using a 30g fire assay with an AAS finish and silver using a 4-acid digest and AAS. Overlimit samples for gold and silver are automatically re-assayed by suitable methods. The samples will be kept for further metallurgical testwork on their leach characteristics.

 

About North Peak

The Company is a Canadian based gold exploration and development company listed on the TSX Venture Exchange under the symbol "NPR" and the OTCQB under the symbol "NPRLF". Launched by the founding team behind both Kirkland Lake Gold and Rupert Resources, the team has a strong track record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.

North Peak's flagship property is the Prospect Mountain Mine complex which lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2,000ft) below the top of the ridge line.

A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface exploration (totaling 189 acres), underground mining of up to 365,000 tons per annum and certain infrastructural works. A more complete description of the Property's geology and mineralization, including at the Wabash area, can be found in the NI 43-101 Technical Report (the "Technical Report") on the Prospect Mountain Property, Eureka County, Nevada, USA dated and with an effective date April 10, 2023, prepared by David Pym (Msc), CGeol. of LTI Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting Ltd., which has been filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company's website.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, timing and completion of any exploration on the Company's properties, estimates of mineralization from drilling, sampling and geophysical surveys, geological information projected from drilling and sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, intentions, beliefs, and current expectations of the Prospect Mountain Mine complex and the Company, timing and completion of further work to fully outline the extraction and transportation process for waste rock pile project, including with respect to the future business activities and operating performance of the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended December 31, 2024 and the period ended September 30, 2025 available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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News Source: North Peak Resources Ltd.