Karus Mining drills 14.6 metres of 4.8 g/t gold at FG Gold Project, British Columbia

Karus Mining Inc. [CSE: KARU] reported initial drill assay results from the 2026 diamond drilling program at the FG Gold Project, part of Karus’ wider South Cariboo Gold District.

Karus Mining’s 2026 exploration program is focused on expanding high-grade mineralization at FG Gold, which hosts over 3 km of known mineralized strike and is part of a 25 km long structural trend which hosts several mineralized showings, much of which remains untested.

Highlights from the first two diamond drill holes include 4.80 g/t Au over 14.55 metres at 208.50 metres down hole in hole FG-26-412, including 32.40 g/t Au over 1.00 metre at 208.50 metres, and 6.59 g/t Au over 3.05 metres at 217.80 metres; 13.35 g/t Au over 0.65 metres at 201.20 metres down hole and 11.55 g/t Au over 0.80 metres at 208.60 metres down hole in hole FG-26-411. True widths unknown but estimated to be 70%-90% of intercepted core width.

“This is a strong start to our 2026 exploration program,” said Chris Donaldson, President and CEO of Karus Mining. “The first two holes successfully intersected our target horizon and delivered broad intervals of gold mineralization, including high-grade intercepts, providing strong validation of our geological model. These results reinforce the potential for significant growth at FG and we look forward to building on this momentum as further results are received over the coming weeks.”

The program targeted a structurally controlled, northwest-southeast striking vein corridor in a Sediment-Hosted Vein (SHV) type setting. The first two holes successfully intersected high grade gold values in the targeted structural horizon, demonstrating the continuity of mineralization in an arrangement compatible with the SHV model.

These results support the view that gold is concentrated within a structurally controlled vein corridor extending approximately 650 metres along strike and remaining open to the northwest and southeast. With the 2026 program focused on extending this corridor, the results provide an important early indication of the potential to grow the known mineralized footprint and uncover additional high-grade zones within this overall footprint at FG Gold.

Drilling concluded in late September with 11 holes completed for a total of 3,944.3 metres. Core logging, sampling and cutting of all drill holes has been completed, and the Company will report assay results once they have been received, compiled and interpreted over the coming weeks.

The FG Gold Project is a drill-stage gold project inside Karus Mining’s 100%-owned South Cariboo Gold District. The district covers about 1,000 km² of mineral claims in central British Columbia. FG Gold hosts sediment-hosted vein gold mineralization within deformed sedimentary rocks folded around the northwest-trending Eureka Syncline. Gold is concentrated in zones of increased quartz veining, which locally correspond to parasitic fold hinges which thicken the gold-bearing veins and create favourable traps for higher-grade mineralization.

Drilling in 2020 and 2021 found two structurally controlled vein corridors, each of which extends about 650 metres along strike and remains open to the northwest. Highlights included hole FG-20-377, which returned 31.4 metres grading 3.0 g/t gold and (notably for the current release) FG-21-406 which returned 116.2 meters grading 0.6 g/t gold.

Karus’s 2026 exploration program is designed to test the sediment-hosted vein model and extend the deeper of these two known high-grade corridors.

Karus is the 100% owner of the approximately 1,000 km² South Cariboo Gold District, which includes the FG Gold and Gold Creek projects. The underexplored district hosts multiple gold systems, numerous high-priority exploration targets and extensive strike potential, providing significant resource and discovery potential.

The company also owns the high-grade Mineral Creek Gold Project, located approximately 12 km southeast of Port Alberni on Vancouver Island, B.C.. Mineral Creek hosts multiple high-grade gold-bearing vein systems and represents an additional opportunity to unlock value within an emerging gold-district.

With new management and a strong technical team, substantial historical exploration investment across its projects, and an active exploration strategy, Karus is well positioned to capitalize on the growing demand for high-quality gold exploration opportunities.