Getchell Gold Corp. Announces $1 Billion Pre-Tax NPV for Fondaway Canyon Gold Project in Nevada

Fondaway Canyon Project Demonstrates Strong Financial Returns and Quick Capital Payback

The PEA highlights robust financial performance under a base case gold price of US$3,200 per ounce. The project is projected to generate a pre-tax NPV of US$1,004 million at an 8% discount rate and an after-tax NPV of US$905 million at the same rate. The pre-tax IRR stands at 58.8%, with an after-tax IRR of 53.1%.

Capital expenditures total US$265.3 million, including a 20% contingency for construction, supporting a pre-tax payback period of 1.5 years and an after-tax payback of 2.0 years. Over its lifespan, the project is expected to produce US$1,889 million in pre-tax cash flow and US$1,589 million after tax. Sensitivity analysis shows that at a higher gold price of US$4,000 per ounce, the after-tax NPV8% could increase to approximately US$1.524 billion with an IRR near 85%, while a lower price of US$2,400 per ounce would reduce after-tax NPV8% to US$251 million with a 20.0% IRR.

Operational Design Supports 10-Year Mine Life with 12,000 Tonnes Daily Throughput

The project plans an open pit mining operation using contract mining, processing roughly 12,000 tonnes per day (4.2 million tonnes annually). The mine plan covers processing 42.8 million tonnes of ore over 10 years, yielding 1.52 million ounces of gold at an average mill feed grade of 1.38 grams per tonne. Estimated gold recovery to sales after processing is 80%.

The life-of-mine stripping ratio is 6.9:1, with 296.3 million tonnes of waste material to be removed. Operating costs average US$1,373 per ounce produced, while cash costs including transportation, refining, and royalties are estimated at US$1,740 per ounce. The operation will produce a high-grade gold concentrate (~20 grams per tonne), which will be sent to a third-party Nevada facility for final processing to doré via pressure oxidation or roasting followed by cyanidation.

April 2026 Mineral Resource Update Shows Significant Growth

The PEA is supported by an updated mineral resource estimate from APEX Geoscience Ltd., effective April 13, 2026. This update reports a 54% increase in indicated mineral resources and an 8% increase in inferred resources compared to the 2024 estimate, incorporating 10 additional drill holes. The total mineral resource now includes 22.1 million tonnes of indicated resources grading 1.40 g/t gold (999,000 ounces) and 45.6 million tonnes of inferred resources grading 1.24 g/t gold (1.812 million ounces).

The economic model focuses on open pit mineral resources in the Central Area, which constitute approximately 68% of the total resource. It excludes underground resources at the Main Pit and open pit resources outside the Central Area. The mineralization remains open along strike and at depth, with potential for expansion along a 7-kilometre east-west gold corridor covering 10 square kilometres.

Metallurgical Testing Validates Conventional Flotation Processing Approach

Development work in 2026 refined the understanding of the ore’s suitability for conventional flotation, producing a low mass pull, high-grade concentrate. A conceptual flotation plant is designed to process both oxide and sulfide ores, with estimated gold recoveries of 84% to concentrate and 80% to final sold metal. The flowsheet involves three crushing stages, ball mill grinding, rougher flotation, and three cleaner flotation stages in open circuit.

Further metallurgical testing is recommended to optimize grind size, improve flotation, and define dry stack tailings processes and costs. Flotation reagents include xanthate, AP 404, and AF 65. Gravity concentration will be applied to cleaner flotation tailings, with combined concentrates filtered and dry stacked.

Capital Investment Breakdown Totals US$265 Million

Total capital costs are estimated at US$265.3 million, including a 20% contingency. Process capital is US$100 million, with preproduction and facilities at US$57 million, totaling US$188.4 million. Capitalized stripping costs over the first four years add US$76.9 million.

Capital estimates are based on U.S. industry averages and contract mining. Sustaining capital is excluded, as the 10-year mine life covers economically viable ore. Maintenance costs are included in operating expenses.

2026 PEA Shows Major Improvements Over 2025 Study

The 2026 PEA marks a significant advancement from the February 7, 2025, study, with a 28% increase in contained gold ounces and average annual production. The base case NPV has risen by over 60%, despite using the same mine plan and operating assumptions.

Enhancements stem from a simplified process flowsheet, increased throughput, and a higher gold price assumption of US$3,200 per ounce. Updated metallurgical data and the expanded mineral resource estimate from additional drilling have enabled a more efficient and economically attractive operation.

Fondaway Canyon Set to Become a Leading Nevada Gold Producer

Management notes that the projected 150,000 ounces of annual gold production would likely place Fondaway Canyon among Nevada’s top 10 gold mining operations by output. This milestone highlights the project’s significance and the company’s development strategy.

President Mike Sieb stated, "The PEA clearly demonstrates the potential for a robust economic open pit mining operation producing 150,000 ounces of gold annually," adding that "the mineralization remains open for expansion with ongoing drilling aimed at enhancing the mine model and extending mine life." Chairman Bob Bass remarked, "The strong economics outlined in this PEA reinforce my high expectations for Fondaway Canyon and highlight significant valuation upside for Getchell Gold Corp."

Independent Consultants Prepare NI 43-101 Compliant Technical Study

The PEA was prepared by SLR Consulting of Fort Collins, Colorado, as lead consultant in compliance with National Instrument 43-101 standards. SLR managed mine planning, design, and cost estimates. DM Consulting LLC conducted metallurgical and process design work, while APEX Geoscience Ltd. completed the mineral resource estimate. The effective date of the PEA is June 1, 2026.

Qualified persons include Jonathan R. Heiner, SME-RM (SLR) for minable resource estimate; Deepak Malhotra, SME-RM (DM Consulting) for metallurgical testing; Donald E. Hulse, SME-RM (SLR) for overall PEA and economic analysis; Kevin Hon, B.Sc., P.Geo. (APEX) as the independent qualified person for the mineral resource estimate; with peer review by Michael Dufresne, M.Sc., P.Geo., President and CEO of APEX. Patrick McLaughlin, P.Geo., VP Exploration at Getchell Gold Corp., reviewed and approved the technical information.

Mineral Resources Not Classified as Reserves; Additional Work Needed

The company stresses that mineral resources reported are not mineral reserves and have not demonstrated economic viability. The PEA is preliminary and includes inferred and indicated resources considered too speculative to be reserves. There is no certainty that PEA results will be realized. Exploration to date is insufficient to upgrade inferred resources to indicated or measured, though it is reasonably expected with continued drilling.

There is no guarantee mineral resources will convert to reserves. The estimate may be affected by environmental, permitting, legal, taxation, socio-political, marketing, or other factors. A technical report including the PEA will be filed on SEDAR within 45 days of this release.

Getchell Gold Focuses on Nevada Gold and Copper Exploration

Getchell Gold Corp. is a Nevada-focused gold and copper exploration company trading on the Canadian Securities Exchange (CSE: GTCH), OTCQB (GGLDF), and Frankfurt Bourse (GGA1). The company’s primary focus is advancing its flagship Fondaway Canyon project, a former gold producer with a substantial mineral resource. The strategic objective remains progressing Fondaway Canyon toward development and production.