P2 Gold drills 0.90 g/t gold and 0.34% copper over 48.77 metres, including 1.61 g/t gold and 0.49% copper over 21.34 metres at Lucky Strike Zone, Gabbs Project, Nevada

P2 Gold Inc. [TSXV: PGLD; OTCQB: PGLDF] reported results from an additional ten reverse circulation (RC) drill holes (GBR-092 to 096 and GBR-102 to 106) drilled at the Lucky Strike Zone as part of the Infill and Expansion Drill Program at its Gabbs Project located on the Walker-Lane Trend in Nevada.

A total of 11,500 metres in 70 RC holes is planned for the Lucky Strike Zone as part of the Infill and Expansion Drill Program. On completion of the drilling underway at the Lucky Strike Zone, the RC drill is expected to return to the Sullivan Zone for additional drilling to extend the zone down dip. Results from drilling to date confirm the Mineral Resource model for the Lucky Strike Zone.

Drilling Highlights: Select drill results (see Table 1 below for drill results) from holes GBR-092 to 096 and GBR-102 to 106 drilled at the Lucky Strike Zone include Hole GBR-103 that intersected 0.66 g/t gold and 0.31% copper over 45.72 metres from 32.00 metres downhole and intersected 0.90 g/t gold and 0.34% copper over 48.77 metres from 88.39 metres downhole, including 21.34 metres grading 1.61 g/t gold and 0.49% copper starting 102.11 metres downhole and also intersected 0.13 g/t gold and 0.16% copper over 25.91 metres starting 137.16 metres downhole;

Hole GBR-104 intersected 0.57 g/t gold and 0.34% copper over 42.67 metres starting 33.53 metres downhole, including 15.24 metres grading 1.14 g/t gold and 0.51% copper starting 33.53 metres downhole and also intersected 0.12 g/t gold and 0.18% copper over 60.96 metres starting 76.20 metres downhole.

Hole GBR-106 intersected 0.61 g/t gold and 0.35% copper over 73.15 metres from 42.67 metres downhole, including 21.34 metres grading 1.13 g/t gold and 0.63% copper starting 48.77 metres downhole and also intersected 0.12 g/t gold and 0.18% copper over 48.77 metres starting 112.78 meters downhole.

Drill holes GBR-102 to 106 were drilled on the western half of the Lucky Strike Zone and appear to have intersected a higher-grade core of the zone similar to the higher-grade core of the Sullivan Zone. This core area is open for expansion to the north and south.

The available drill data confirms that the ore controls at Lucky Strike are the same as at the Sullivan Zone where mineralization is localized within and below a tabular unit of quartz monzonite underlain by pyroxenite.

As with Sullivan, the higher-grade gold and copper at Lucky strike is at the core of the zone and at restricted halos around subvertical structures. This mineralization is gold dominant and gives way to copper-gold mineralization in the footwall of the main mineralized body. At Lucky Strike, the deeper footwall mineralization ranges in thickness from 20 metres to 60 metres and with the main mineralized body ranging up to 75 metres thick forms a zone with a combined thickness of up to 125 metres thick. There are numerous quartz-filled structures that cut across the Lucky Strike Zone which come to surface and were exploited historically as narrow, high-grade pits and shallow workings.

The Lucky Strike Zone remains open in all directions. Drilling is currently focused on the western half of the zone, which measures approximately 700 metres by 500 meters, as defined by current and historical drilling, and is where the relatively shallow mineralization is hosted. This targeted area is roughly the same size as the Sullivan Zone. Based on available current and historical drill data, the Lucky Strike Zone has the potential to be significantly larger than the Sullivan Zone.

Since the start of the program in October 2025, a total of 62 RC drill holes have been drilled, with 24 holes drilled at the Sullivan Zone and 38 holes drilled at the Lucky Strike Zone. The diamond drill has completed 29 date. Assays will continue to be reported over the coming metallurgical and slope stability geotechnical holes to months. The RC drill has been demobilized from site with another RC drill scheduled to mobilize to site at the beginning of May.

On completion of the Infill and Expansion Drill Program, an updated Mineral Resource estimate will be prepared for Gabbs, which is expected to be completed in the third quarter of 2026. The updated Mineral Resource estimate will form the basis of a feasibility study on placing Gabbs in production, which is expected to be completed in the fourth quarter of 2026.

P2 Gold is a mineral exploration and development company focused on advancing its gold-copper Gabbs Project on the Walker Lane Trend in Nevada, where work to support a feasibility study is underway. A positive preliminary economic assessment has outlined a long-life, mid-size mine at Gabbs with annual average production of 109,000 ounces gold, 15,000 tonnes copper over a 14.2-year mine life.

The Gabbs Project has excellent infrastructure with access via paved Hwy 361, and power and water on site. All zones on the property remain open and an infill and expansion drill program is underway. On completion of drilling, an updated Mineral Resource estimate will be prepared for Gabbs, which is expected to be completed in the third quarter.