Pilbara Gold Uncovers Significant Deep Mineralisation Below Pit Shell at Mt York Gold Project

Pilbara Gold’s Targeted Exploration Along Mt York’s 4.2-Kilometre Banded Iron Formation Host Rock

Pilbara Gold Limited is advancing exploration at the Mt York Gold Project, which contains a 2.1-million-ounce gold resource hosted within a continuous 4.2-kilometre Banded Iron Formation (BIF) in Western Australia’s Pilbara region. The company’s 2026 drilling program, comprising 50,000 metres, aims to extend resources at depth along the entire BIF corridor, which includes Main Hill, Gossan Hill, Breccia Hill, and Main Hill Extension zones.

This systematic exploration approach seeks to expand mineral resources through depth extensions and upgrade inferred resources to indicated status ahead of maiden reserve estimation for the prefeasibility study. With five rigs currently operating and a sixth rig arriving by July 2026, Pilbara Gold has significantly enhanced its drilling capacity, underpinning a steady flow of exploration results throughout 2026.

Main Hill Delivers Exceptional Depth Extension with 94 Metres of Continuous Gold Mineralisation

The most notable intercept to date comes from drill hole 26MYDD022 at Main Hill’s western end, intersecting 94 metres at 0.88 g/t gold from 275 metres depth, equating to 80 metres true width. Within this, a higher-grade core of 57 metres at 1.00 g/t gold (48 metres true width) includes narrower zones such as 9 metres at 2.45 g/t gold from 323 metres depth.

Significantly, a shallow hanging wall zone returned 6 metres at 3.19 g/t gold from 225 metres depth, including 3 metres at 5.56 g/t gold from 227 metres, located at the BIF and metasediment contact. This hole was designed to test mineralisation roughly 100 metres below the previous deepest intercept at 200 metres depth, confirming wider and deeper mineralisation beyond the current resource model and indicating strong potential for resource growth with further deep drilling.

Gossan Hill Confirms Depth Potential with 21 Metres at 1.42 g/t Gold Below Current Pit Shell

At Gossan Hill, drill hole 26MYDD008 intercepted 21 metres at 1.42 g/t gold from 228 metres depth, including a higher-grade 7-metre zone at 3.54 g/t gold from 231 metres. This is part of a broader 45-metre halo at 0.75 g/t gold from 225 metres, extending known mineralisation deeper within the system. While other holes (26MYDD004 to 26MYDD007) were less successful in extending mineralisation below the pit shell, 26MYDD008 validates the depth-extension strategy and highlights potential for significant mineralisation zones at greater depths.

Drilling Progress and Program Status at Mt York

To date, Pilbara Gold has completed 12,139 metres of its 50,000-metre 2026 drilling program, about 24% of the total. Assay results from 13 drill holes cover Main Hill, Gossan Hill, Breccia Hill, and Main Hill Extension zones. The company expects ongoing staged assay releases as drilling continues.

Current drilling focuses on Main Hill and Main Hill Extension, where mineralisation remains open at depth with potential to deepen the optimal pit shell. The presence of grunerite-altered BIF and sulphide alteration in most holes supports the extensional drilling strategy. Plans include drilling beyond 300 metres depth, with confidence that deeper intercepts will further expand gold resources.

Geological Indicators: Grunerite Alteration and Sulphide Mineralisation Supporting Exploration

Pilbara Gold’s exploration model is supported by geological observations of grunerite-altered Banded Iron Formation at Main Hill and Breccia Hill, accompanied by moderate to strong sulphide alteration. These features are consistent indicators of gold mineralisation across the deposit.

Main Hill displays a typical Archean BIF-hosted gold pattern with broad lower-grade halos surrounding narrower high-grade zones, exemplified by drill hole 26MYDD022’s 94-metre intercept containing higher-grade intervals. This geological style suggests further potential for similar mineralisation at depth across Mt York.

Resource Upgrade and Prefeasibility Study Reserve Timeline

The 2026 drilling program aims to increase the mineral resource estimate through depth extensions and convert inferred resources to indicated classification ahead of maiden reserve estimation. Pilbara Gold expects to update the Mt York Mineral Resource Estimate in late 2026, incorporating this year’s drilling results.

Reserve estimation for the prefeasibility study is the next key milestone, supported by targeted infill drilling such as drill hole 26MYDD025. Managing Director Dr Peter Turner expressed confidence in continued resource growth throughout 2026 based on initial results.

Wider Mineralisation Beyond Current Models Enhances Pit Optimization Prospects

Notably, drill hole 26MYDD022 intersected mineralisation wider than the current resource model, which has important implications for pit shell optimisation and economic mining parameters. Wider zones at depth could support a deeper, more efficient open-pit configuration than presently modelled.

Intersections like 57 metres at 1.00 g/t gold and 94 metres at 0.88 g/t gold at depth indicate economic mining potential, reinforcing the company’s objective of a large open-pit operation. Planned drilling at depths around 350 metres is expected to further expand resources and underpin favourable pit optimisation and reserve estimation.

Operational Scale-Up: Five Rigs Active with Sixth Rig Arriving Soon

With five rigs currently drilling and a sixth rig expected by July 2026, Pilbara Gold has accelerated exploration throughput at Mt York. This operational scale-up enables simultaneous extensional and infill drilling, maximizing geological data generation and supporting resource growth and classification upgrades.

Dr Peter Turner highlighted confidence in delivering consistent exploration updates as assay results continue to flow. The 12,139 metres completed so far reflect strong momentum, with further results anticipated throughout 2026, underscoring management’s belief in Mt York’s significant gold resource potential and development pathway.

Strategic Market Positioning and Growth Outlook in Pilbara Gold Sector

Pilbara Gold’s exploration progress at Mt York aligns with broader resource expansion trends in the Pilbara region, where Archean BIF-hosted gold deposits have shown substantial growth potential through systematic drilling. The July 2026 announcement, amid an active drilling campaign and upcoming resource update, positions the company to maintain regular market engagement on project advancement.

For investors seeking exposure to Pilbara gold exploration, Pilbara Gold’s demonstrated capacity to intersect significant deep mineralisation and its robust six-rig drilling program represent key catalysts for potential share price appreciation upon the late-2026 resource update.