Reward Minerals Validates High-Grade Gold-Copper Potential at Newfoundland's Mountain Pond Project

High-Grade Gold and Copper Assays Affirm Jackpot Prospect Mineralisation

Reward Minerals has confirmed strong gold and copper potential at the Jackpot Prospect via new rock chip and soil sampling. Recent rock chip samples from the Jackpot outcrop vein and shear zone returned assays including 8.16g/t Au with 0.27% Cu, 4.61g/t Au with 0.65% Cu, 4.26g/t Au with 0.19% Cu, 1.77g/t Au with 1.77% Cu, 2.65g/t Au with 0.27% Cu, and 1.89g/t Au with 0.76% Cu. These results reinforce the company’s evaluation of the prospect’s economic mineralisation potential.

Historic rock chip sampling at the same Jackpot vein outcrop previously yielded assays as high as 23.77g/t Au and 7.48% Cu, as reported in announcements dated 18 March and 7 May 2026. The new sampling confirms consistent mineralisation style and grade distribution across the quartz vein and shear zone, bolstering confidence in potential depth extensions targeted in the upcoming maiden drilling program.

Bingo Prospect Advances as Second-Priority Target Along Sullivan Pond Fault

Located approximately 400 metres along strike from Jackpot, the Bingo Prospect has been promoted to second-priority status following promising soil assay results. Initial soil sampling by project vendors in 2025 identified gold values between 50 and 200 parts per billion, defining the prospect. A subsequent high-grade soil assay of 1.55g/t Au significantly enhanced its prospectivity, justifying expanded exploration activities.

Recent exploration at Bingo involved a denser soil sampling grid with 25-metre sample spacing on lines 50 metres apart to better delineate anomalous gold and geochemical signatures. Following assay results, detailed prospecting, trenching, and vegetation clearing are planned to facilitate further mapping and sampling. Bingo’s proximity—just 200 metres from the existing project access road—offers logistical advantages that could reduce exploration costs as the company advances toward detailed testing.

Mountain Pond Project Location and Property Details

The Mountain Pond Gold Project is situated in central northern Newfoundland, approximately 530 kilometres by road northwest of St. John's and about 112 kilometres by road from Reward’s Copper Lance Project. The site lies 7 kilometres northeast of Springdale, a regional mining service town, providing access to established exploration and mining infrastructure.

The property includes 41 contiguous claims covering roughly 10 square kilometres of road-accessible, underexplored terrain prospective for precious and base metals. It lies along strike and west of the mineralised Sullivan Pond Fault and its magnetic trend, identified as a key structural control for mineralisation. The project’s location within an active mining jurisdiction, supported by significant regional exploration by operators such as New Found Gold, Equinox Gold (Valentine Gold Project), and Firefly Metals (Green Bay project), underscores its prospectivity.

Comprehensive Soil Sampling Program Enhances Target Definition

Reward has completed an extensive soil sampling campaign across the Mountain Pond Project, collecting over 500 new samples, including expanded coverage at the Bingo Prospect along the Sullivan Pond Fault corridor. This program aims to identify new mineralised zones and refine understanding of geochemical signatures linked to gold and copper mineralisation.

Assay results for all submitted soil samples are expected within approximately two months from the announcement, targeting August 2026. These findings will guide follow-up exploration programs, prioritising areas for detailed prospecting, trenching, and drilling. This phased exploration strategy allows systematic expansion of priority drill targets while optimising exploration expenditure.

Maiden Drilling Program Set to Begin Post Permit Approvals

Following confirmation of gold and copper prospectivity, Reward is finalising preparations for its maiden drilling program at the Jackpot Prospect. Site access clearing and drilling permit applications are nearing completion, with final approvals anticipated within about four weeks from the announcement date. Drilling is planned to commence shortly thereafter.

This maiden drilling campaign aims to test depth extensions of the mineralised quartz vein and shear zone system at Jackpot. As the first drilling ever conducted at Mountain Pond, the program represents a significant advancement in exploring the project’s subsurface mineralisation. Results will provide critical insights into the scale and continuity of mineralisation at depth, essential for evaluating economic potential.

Mountain Pond Project: A Largely Untested Exploration Opportunity

A key aspect of the Mountain Pond Gold Project is its status as an untested exploration opportunity, having never been drilled despite strong surface sampling and multiple prospects with anomalous gold and copper signatures. This is uncommon in established mining jurisdictions and suggests limited historical exploration relative to the project’s potential.

The absence of drilling means the true extent and economic significance of identified mineralisation remain unknown. The upcoming maiden drilling at Jackpot will provide the first subsurface data, crucial to assessing if surface samples represent mineralisation sufficient for resource estimation. This marks a classic transition from surface target identification to subsurface testing.

CEO Lorry Hughes Highlights Project Potential and Exploration Approach

Reward CEO Lorry Hughes emphasized the importance of the Jackpot and Bingo results, confirming the project’s gold and copper prospectivity and potential for scale. The company’s exploration has focused on validating historic mineralisation and discovering additional trends to build a pipeline of priority drill targets, reflecting a systematic development strategy.

Hughes noted that Jackpot’s vein was initially discovered from a single 80 parts per billion Au soil sample, with follow-up prospecting uncovering a well-mineralised vein and shear zone beneath dense vegetation. The broader and higher gold values now identified at Bingo are encouraging for new bedrock mineralisation discoveries, indicating the exploration model’s effectiveness. He also highlighted Bingo’s logistical advantage, being only 200 metres from the project access road, which should help reduce exploration costs during detailed testing and drilling.

Reward Minerals’ Strategic Newfoundland Exploration Portfolio

The Mountain Pond Gold Project forms part of Reward Minerals’ Newfoundland exploration portfolio, alongside the Copper Lance Project located about 112 kilometres southwest. Their geographic proximity and shared geological features suggest potential synergies in exploration and operations.

Reward’s operating presence in Newfoundland reflects the region’s appeal for precious and base metals exploration, hosting multiple significant gold and copper projects by other companies. The company’s activities align with a long-term strategy to build a portfolio of exploration assets capable of delivering multiple discoveries and development opportunities.

Upcoming Milestones for Investors

Key upcoming milestones include receipt of final drilling permit approvals and site access clearing authorization, expected within approximately four weeks from the announcement date. Following approvals, the maiden drilling program at Jackpot will commence, marking the first major subsurface test of identified mineralisation.

Another critical milestone is the return of assay results from over 500 soil samples collected across Mountain Pond, anticipated in August 2026. These results will clarify the extent of geochemical anomalies and may reveal additional drill targets for future exploration. Together, drilling outcomes at Jackpot and expanded soil sampling results will significantly enhance understanding of the project’s potential and inform future exploration and development plans.