Renforth Resources Advances Victoria Polymetallic Drilling and Secures Three-Year Parbec Gold Drilling Permit

Progress in Victoria Polymetallic Drill Program with Encouraging Visual Mineralization

On July 22, 2026, Renforth Resources announced the successful completion of two drillholes in the first undercut area of its Victoria deposit. The holes, SUR-26-58 and SUR-26-59, were drilled at angles of 45 and 65 degrees respectively, both intersecting visible mineralization beneath previously reported positive results from November 2021.

Both drillholes ended in mineralized ultramafic material. Although ultramafic zones generally yield low-grade mineralization, Renforth has demonstrated that material from Victoria is suitable for sorting and conventional processing. Observations by the company’s qualified person identified mineralization phases including chalcopyrite (copper), sphalerite (zinc), pyrrhotite, and pyrite within mineralized graphitic mudstone, ultramafics, calc-silicate contact zones, and albite shears.

Mineralization Details and Sample Handling

The visible mineralization in the two recent drillholes comprises multiple key mineral phases across various host lithologies. The qualified person selected, split, bagged, and tagged samples on-site for laboratory submission. Renforth stated that assay results will be released as they become available.

The drillholes are positioned relative to prior 2021 drilling and mineral resource modeling within the first undercut area. A vertical cross-section diagram illustrates the spatial relationship between the new holes and previous drill sections. The drill rig has now moved to commence drilling in a second undercut area, as referenced in an earlier company release.

Historical Assay Highlights from Previous Victoria Drilling

Before the current undercut drilling, Renforth reported November 2021 assay results from drillholes SUR-21-04 and SUR-21-05, which established the baseline for the ongoing program. SUR-21-04 intersected 74.55 metres grading 0.14% nickel and 95.43 ppm cobalt, including 10.5 metres grading 0.52% copper, 0.09% nickel, and 79.66 ppm cobalt.

Hole SUR-21-05 also showed significant mineralization, with 72.7 metres grading 0.13% nickel and 97.27 ppm cobalt. The true widths of these intersections are unknown, as reported lengths are core box measurements. The current undercut drilling aims to test the continuity and extensions of these mineralized zones.

Parbec Gold Deposit Granted Three-Year Drilling Permit

Separately, Renforth announced receipt of a three-year drill permit for its Parbec gold deposit. This permit authorizes up to 60,000 metres of drilling from 17 stations, significantly reducing regulatory risk for exploration on this wholly owned gold property. Parbec is strategically located adjacent to Agnico Eagle Mines Limited’s Canadian Malartic complex, one of Canada’s largest open-pit gold mines.

The company is awaiting assay results from recent channel sampling at Parbec. Meanwhile, Renforth has collected additional samples of felsite occurrences along the southwest edge of the stripped area, previously unsampled. These samples will be sent to the laboratory, with results forthcoming.

Fundraising Efforts and Capital Structure Update

Renforth is conducting a modest fundraising placement primarily targeting existing shareholders. The offering includes critical minerals flow-through shares priced at $0.03 each or common share units, each comprising one common share and one-half of one warrant.

Warrants are exercisable for 18 months at $0.06 per share. The placement is expected to close by month-end. The timing and pricing indicate the company is balancing exploration funding needs while encouraging shareholder participation.

Geological Setting and Mineralization Overview

The Victoria deposit is a nickel/copper/cobalt open-pit polymetallic resource fully owned by Renforth. Mineralization occurs within ultramafic lithologies and associated contact zones such as calc-silicate and albite shear assemblages. The presence of chalcopyrite, sphalerite, pyrrhotite, and pyrite within graphitic mudstone and ultramafic hosts suggests a syngenetic or early diagenetic origin for part of the mineralization.

Renforth emphasizes the amenability of Victoria material to conventional sorting and processing, which may enhance economic viability by reducing waste before milling and lowering processing costs. Prior testing has confirmed this potential.

Qualified Person Oversight and Compliance

Technical information in the announcement was reviewed and approved by Francis R. Newton, P. Geo (Ontario Geological Qualification #2129), a qualified person under National Instrument 43-101 (NI 43-101). This ensures compliance with Canadian securities regulations for mineral exploration disclosures.

The involvement of a qualified person assures investors that technical data, interpretations, and exploration methods have been evaluated by a professional with appropriate credentials and experience.

Investor Outlook and Exploration Schedule

The completion of drillholes in the first undercut area and transition to a second undercut zone demonstrate Renforth’s systematic exploration approach at Victoria. The company has not provided a timeline for completing the full undercut drilling program, the total number of planned holes, or the schedule for assay result releases.

At Parbec, the three-year drill permit removes a key regulatory hurdle. Pending channel sampling results and identification of previously unsampled felsite occurrences indicate ongoing potential for property expansion and further mineralization definition. Investors will likely monitor assay outcomes from both Victoria’s undercut drilling and Parbec’s channel sampling to evaluate exploration progress.

Company Profile and Strategic Focus

Renforth Resources Inc. is a Canadian junior exploration firm focused on advancing gold and polymetallic deposits in Québec’s Abitibi region. Its flagship asset, the Parbec gold deposit, is located adjacent to Agnico Eagle Mines’ Canadian Malartic complex. The Abitibi district is one of Canada’s most prolific gold-producing areas with a rich mining history.

The company commits to disciplined, systematic exploration and transparent disclosure. This announcement reflects that commitment, providing detailed drillhole locations, mineralization characteristics, and sampling protocols. Renforth’s dual-asset strategy—maintaining both Parbec gold and Victoria polymetallic deposits—offers diversification within the Canadian mineral exploration sector.