North Peak drilling Prospect Mountain Gold Property, Nevada

North Peak Resources Ltd. [TSXV: NPR; OTCQB: NPRLF] has begun its Autumn drilling campaign at its Prospect Mountain Mine complex in the heart of the Eureka, Nevada mining camp along the famous Battle Mountain/Eureka gold trend.

The Eureka camp has produced more than 3.1 Moz in gold to date. Historical mines and current mineral deposits in the area are located at key structural intersections and much of the mapping and exploration work by North Peak to date has focused on identifying these critical controlling faults.

“2025 has been a year of consolidation for the company, with efforts focused on bringing the property to 100% ownership, advancing our geological understanding in advance of drilling and commencing metallurgical test work on the historical dumps. We are looking forward to drilling to continue on from the successes of 2024. This initial phase will be to test new areas not drilled before and provide us with key information ahead of a larger campaign next year,” stated Rupert Williams, CEO.

This initial drilling campaign will be a mix of RC and diamond drilling across four main drill target areas: Williams/Wabash, Industry tunnel, Dean Cave complex and Lower PME.

Williams/Wabash: Following on from the success of the 2024 drilling which identified several high grade gold lodes along the intersection of the Silver Connor Fault and the Duke fault, drilling in this area will be looking to test for the extension of the disseminated style of mineralization between the Wabash and Williams lodes exemplified by PM24-004 which intersected 126.49 metres (415ft) at 1.06 g/t Au, 12.3 g/t Ag from 0 ft, which included 12.19 metres (40ft) at 4.20 g/t Au, 71 g/t Ag from 0 ft. This style of near surface oxide gold mineralization is important as it opens up the possibility for bulk tonnage style mineralization in addition to the currently known areas of higher grade within the Williams/Wabash lode systems.

Industry Tunnel Area: Targeting the intersection of the Silver Connor and Industry faults, an area of considerable historical mining activity, with numerous historical shafts and tunnels. Grab samples from historical adits assayed up to 20.5 g/t (0.66 oz/t) Au. Limited drilling in 2024 intersected low grade gold mineralization in PM24-001 within the Hamburg Dolomite for the entire hole with the better parts being, 10.67 metres (35ft) at 0.75 g/t Au from 3.05 metres, including 1.52 metres (5ft) at 3.16 g/t Au, 20.8 g/t Ag.

Despite the target Eldorado dolomite not being intersected in this hole, the low-grade mineralization which was intersected along the Silver Connor fault shows promise for large scale bulk tonnage oxide gold mineralization similar to Mineral Point at i-80. This drilling is aiming to target the Eldorado dolomite.

Dean Cave Area: Underground sampling has detected numerous high grade gold samples within the Dean Cave and DMEA historical mining areas with unmined stope samples grading up to 180 g/t Au, 998 g/t Ag. Drilling from surface is aimed to test significant fault intersections updip from historical stoping. Samples at surface include 33.9 g/t Au, 183 g/t Ag, 0.9% Cu, 1.81% Pb, 1.66% Zn.

Lower PME Zone: This is an undercover zone targeting downdip extents of the Hamburg Dolomite and Dunderberg Shale contact which is regionally important to mineralization with historic mines such as Rustler and Windfall, which McEwen Mining are now drilling further, as well as Ruby Deeps on i-80’s Ruby Hill property.

Cross faults across the contact localize mineralization, with a lone historic vertical drillhole HRH1725 intersecting 4.05 g/t Au and 16.34 g/t Ag over 10.6 metres. Follow-up drilling in 2024 failed to intersect the contact due to large voids not allowing drilling to continue. Large voids within the host dolomites are often a sign of proximity to mineralization and a more powerful rig is being used to give a better chance of reaching targets.

Drilling and Sampling: 2024 Drilling was carried out using a Canadian built tracked MPD1500 RC drilling unit, the rig has jacks and a blade and is capable of working on small pads on steep ground to minimize ground prep. RC drilling uses a hammer, that is not face sampling but samples 4ft away from the hammer. A face sampling hammer was also trialed to compare efficiency.

Under Nevada law dry sampling is not allowed due to dust restrictions so RC drilling is done wet, with water actively pumped down the hole mixing with pulverized sample and coming through the cyclone to an 8-compartment rotary fan wet splitter.

Launched by the founding team behind both Kirkland Lake Gold and Rupert Resources, the team has a strong track record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.

North Peak’s flagship property is the Prospect Mountain Mine complex in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions.  At the Property, the CRD mineralization is heavily oxidized to depths of at least 610 metres (2,000 ft) below the top of the ridge line.

A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface exploration (totalling 189 acres), underground mining of up to 365,000 tons/year and certain infrastructural works.