Newcore Gold Ltd. press release

ONgold Reports Higher-Grade Gold Composite Assays at Monument Bay, Including 4.12 g/t Au over 26.75m Including 43.50 g/t Au over 0.49m, with Higher Gold Grades Observed in the Eastern Deposit Area

2026-05-04

TSXV - TSX Venture Exchange · Gold · Canada · Drill Results

Toronto, Ontario--(Newsfile Corp. - May 4, 2026) - ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) (the "Company" or "ONGold") is pleased to provide selected new gold and tungsten composite assay results from the conclusion of the historical core re-logging, infill sampling and pulp re-analyses program at its Monument Bay Gold-Tungsten Project ("Monument Bay"). The principal objectives of the core relogging and associated assay program were three-fold:

1. Deliver a high-confidence verification of gold and tungsten grades across the deposit; 2. Obtain missing gold and tungsten data by assaying previously untested historical core and pulps thereby closing critical gaps in the geochemical dataset; and 3. Develop a geologically defensible lithological and resource-domain model suitable for supporting the updated gold mineral resource estimate currently in preparation.

The successful execution of this program has achieved these objectives, positioning Monument Bay exceptionally well as it advances toward publication of its new mineral resource estimate this fall, while simultaneously strengthening the technical foundation required to support and enhance the quality of the NI 43-101- _Standards of Disclosure for Mineral Projects _("NI 43-101") compliant resource estimate currently being completed by SRK Canada and to define future resource expansion and conversion drilling opportunities.

The composite intervals reported to date in this, and subsequent Press Releases, include the addition of 1,792 new gold assays (1,307 historical pulps and 485 split cores) and 13,903 tungsten assays (12,418 historical pulps and 1,485 split cores) with the newest results presented in Tables 1a to 1d (Figure 1). The 89 drill holes selectively re-logged on 22 drill sections across the 4.2 km strike length of the deposit were sampled as part of the program were selected on the basis that gold and tungsten values were unavailable or sections of a drill hole were not previously sampled or only partially sampled. A majority of all the historical pulps collected from previous operators at Monument Bay were placed in storage by Yamana Gold at the Kam River storage facility in Thunder Bay, Ontario.

Re-logging of the drill core at Monument Bay has identified a robust gold system that is open downdip with gold mineralization concentrated within north dipping east northeast plunging shoots along the entire 4.2 km strike length of the deposit. Based on results from re-logged and re-sampled drill holes, higher-grade gold intervals appear to be more frequently developed in portions of the eastern deposit area. The highest-grade gold interval sampled as part of the program is at the Eastern end of the deposit in the Lake Shoot where gold mineralization extends to surface. Here, gold composite assays calculated using exclusively historical assays returned 6.15 g/t Au over a core length of 132.0 m (151 m to 283 m) in hole TL-16-575 and 1.84 g/t Au over a core length of 90.3 m (69 to 159.3m) for hole TL-14-514 (Figure 1). The Eastern portion of the deposit still holds significant potential for additional resource expansion opportunities and possibly expansion east of the current deposit boundary as the porphyry felsic dykes, alteration and mineralization continue within the Twin Lakes Shear Zone where drilling is less prevalent.

Program Outcomes:

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The verification of the gold and tungsten assay data within the Monument Bay database indicates that the dataset is of very good quality.

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The results support an improved understanding of gold grade continuity, with an improved understanding of the structural controls on high-grade gold and tungsten mineralization throughout the deposit to support future exploration and gold resource development based on the drill holes reviewed and re-sampled as part of the program.

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Simmons Shoot(TL-19-697B): returned 4.12 g/t Au and 730 ppm W over a core length of 26.75m (160.25 to 187.00) including 43.50 g/t Au over 0.49m (181.38 to 181.87m); a 0.34% increase in gold content over the original gold intercept reported of 4.106 g/t Au and no change to tungsten as historical values were available for this drill hole.

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Camp Shoot(TL-11-394): returned 2.20 g/t Au and 728 ppm W over a core length of 9.70m(97.0 to 106.7m) which includes a previously unsampled gold assays of 13.08 g/t Au and 5,530 ppm W over 1.0m (101.0 to 102.0m) and 5.49 g/t Au and 231 ppm W over 1.0 m (102.0 to 103.0m): a 15.4% increase in gold content over the original gold intercept of 1.91 g/t Au and new tungsten values as no data was available for this interval.

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Simmons Shoot West(TL-11-417): returned 2.63 g/t Au and 243 ppm W over a core length of 13.0 m(95.0 to 108.0m) including 13.20 g/t Au and 44 ppm W (99.10 to 100.0m); a 16.8% increase in gold content over the original gold intercept of 2.25 g/t Au and new tungsten values as no data was available for this interval.

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Lake Shoot West(TL-18-646): returned 0.48 g/t Au and 546 ppm W (all new W) over a core length of 5.88 m(266.12 to 272.00m) including 2.25 g/t Au and 5,260 ppm W; a 18.0% increase in gold content over the original intercept of 0.41 g/t Au and new tungsten values as no data was available for this interval.

The pulp sampling program for tungsten resulted in a clearer understanding of tungsten distribution throughout the deposit.

Kyle Stanfield CEO and a Director of ONGold commented: "The results of the recently completed new composite assay program combined with the improved structural controls assessment has improved continuity of gold grades at Monument Bay. The new tungsten assays have improved our knowledge of tungsten mineralization and its controls. Monument Bay hosts high grade gold starting at surface and the mineralization remains open at depth in many areas. The conclusion of this intensive program spanning 22 sections including 89 holes totaling 10,725m of drill core re-logging and sampling has set a solid foundation not only for the completion of the new mineral resource estimate underway and expected to be completed this September but also for the development of a resource expansion drill program planned for 2027."

The infill pulp sampling program confirmed the presence of tungsten in portions of the deposit previously discussed on September 2, 2025 Press Release (Figure 3 Longitudinal Section) with some additional expansion opportunities. The Fall core relogging and infill core sampling program was focused largely on collecting missing tungsten data from core already assayed for gold within mineralized zones.

Metallurgical testing conducted in 2015 by Thibault & Associates Inc. demonstrated that Monument Bay gold-tungsten samples were amenable to flotation (testing cited in Barber, 2025).

Figure 1: Monument Bay Gold Deposit: Best Gold Composite Intercepts Across the Deposit

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/10770/295567_fb3bea43a460d93d_001full.jpg

Table 1A: Significant Gold Composite Intercepts for the Lake Shoot

| Section | Hole No. | From (m) | To (m) | length (m) | Au g/t | W (ppm) | Au Grade-Thickness (g/t-m) | | 506350E | TL-14-526 | 62.00 | 106.00 | 44.00 | 4.62* | 320 | 203 | | Lake Shoot | including | 62.00 | 92.00 | 30.00 | 6.53* | 456* | 196 | | | including | 62.00 | 88.00 | 26.00 | 7.26* | 521* | 189 | | | including | 62.00 | 78.00 | 16.00 | 8.83* | 23* | 141 | | | including | 78.00 | 88.00 | 10.00 | 4.74* | 1,320* | 47 | | | including | 66.50 | 67.00 | 0.50 | 40.63* | 12* | | | | including | 72.00 | 73.00 | 1.00 | 20.70* | 50* | | | | including | 86.00 | 87.00 | 1.00 | 8.00* | 7,840* | | | Lake Shoot | TL-14-533 | 36.00 | 90.00 | 54.00 | 3.44 | 56 | 185 | | | including | 37.00 | 72.00 | 35.00 | 4.87 | 76 | 170 | | | including | 42.00 | 43.00 | 1.00 | 9.87 | 73 | | | | including | 49.00 | 50.00 | 1.00 | 13.02 | 34 | | | | including | 51.00 | 52.00 | 1.00 | 5.86 | 55 | | | | including | 88.30 | 89.00 | 0.70 | 4.43 | 28 | | | 506200E | TL-20-714 | 116.70 | 139.50 | 22.80 | 1.81* | 952 | 41 | | Lake Shoot | including | 118.90 | 126.00 | 7.10 | 2.66* | 115 | | | | including | 118.90 | 119.70 | 0.80 | 18.30* | 6,690 | | | | and | 131.90 | 139.50 | 7.60 | 2.72* | 1,759 | | | | including | 131.90 | 138.00 | 6.10 | 3.33* | 1,953 | | | | including | 134.30 | 138.00 | 3.70 | 4.48* | 2,512 | | | | including | 134.80 | 138.00 | 3.20 | 5.03* | 2,897 | | | | including | 136.30 | 138.00 | 1.70 | 3.13* | 4,624 | | | | including | 136.30 | 137.60 | 1.30 | 3.53* | 4,360 | | | | including | 137.60 | 138.00 | 0.40 | 1.82* | 5,480 | | | 506490E | TL-11-366 | 502.00 | 510.00 | 8.00 | 0.35 | 15 | | | Lake Shoot | including | 502.00 | 507.00 | 5.00 | 0.45 | 16 | | | | and | 565.00 | 576.00 | 11.00 | 1.43 | 34 | | | | including | 568.00 | 573.00 | 5.00 | 3.06 | 43 | | | | including | 572.00 | 573.00 | 1.00 | 13.1 | 55 | |

_Notes: *= Historical Assay; __= Mix of Historical and New; No Asterix = All New Assays; All reported intervals are down-hole core lengths. True widths are unknown at this time and will be refined with additional structural modeling. Composites are length-weighted; Bolded= g/t Au X length (m) = >25.0 gram-meters; no top cuts have been applied._

Table 1B: Significant Gold Composite Intercepts for the Lake Shoot West

| Section | Hole No. | From (m) | To (m) | length (m) | Au g/t | W (ppm) | Au Grade-Thickness (g/t-m) | | 505770E | TL-02-69 | 92.30 | 108.05 | 15.75 | 5.61* | 327 | 88 | | Lake Shoot West | including | 94.00 | 106.90 | 12.90 | 6.55* | 388 | 84 | | | including | 93.10 | 101.10 | 8.00 | 10.673* | 330 | 85 | | | including | 99.70 | 100.10 | 0.40 | 11.90* | 3,940 | | | | including | 100.10 | 100.70 | 0.60 | 103.60* | 131 | 62 | | | including | 105.90 | 106.90 | 1.00 | 2.37* | 2,320 | | | 505530E | TL-18-646 | 266.12 | 272.00 | 5.88 | 0.48 | 546 | | | Lake Shoot West | including | 268.65 | 272.00 | 3.35 | 0.67 | 1,114 | | | | including | 270.40 | 271.10 | 0.70 | 2.25 | 5,260 | | | 505860E | TL-04-191 | 15.80 | 25.50 | 9.70 | 1.67 | 53 | | | Lake Shoot West | including | 19.70 | 25.50 | 5.80 | 2.64* | 79 | | | | including | 15.80 | 17.20 | 1.40 | 0.59 | 31 | | | | including | 22.35 | 22.65 | 0.30 | 9.81* | 101 | | | | including | 22.65 | 23.00 | 0.35 | 6.14* | 120 | | | | including | 23.00 | 23.50 | 0.50 | 6.00* | 6 | | | Lake Shoot West | TL-11-412 | 92.00 | 110.00 | 18.00 | 1.54 | 40 | 28 | | | including | 103.00 | 110.00 | 7.00 | 1.95 | 59 | | | | including | 107.00 | 108.00 | 1.00 | 7.00 | 13 | | | | including | 109.00 | 110.00 | 1.00 | 2.21 | 122 | |

Table 1C: Significant Gold Composite Intercepts for the Camp Shoot

| Section | Hole No. | From (m) | To (m) | length (m) | Au g/t | W (ppm) | Au Grade-Thickness (g/t-m) | | 505050E | TL-14-523 | 85.70 | 126.26 | 40.56 | 1.98* | 324 | 80 | | Camp Shoot | including | 94.40 | 122.00 | 27.60 | 2.63* | 364* | 73 | | | including | 100.00 | 110.00 | 10.00 | 5.01* | 710* | 50 | | | including | 101.00 | 102.05 | 1.05 | 7.89* | 2,140* | | | 504800E | TL-20-703 | 132.00 | 149.07 | 17.07 | 3.36 | 663 | 57 | | Camp Shoot | including | 143.50 | 149.07 | 5.57 | 5.94 | 1,769 | 33 | | | including | 144.00 | 149.07 | 5.07 | 6.35 | 1,888 | 32 | | | including | 144.00 | 145.55 | 1.55 | 12.20 | 2,352 | | | | including | 147.00 | 149.07 | 2.07 | 5.48 | 2,811 | | | | including | 140.50 | 141.50 | 1.00 | 12.80* | 23 | | | | including | 144.45 | 144.90 | 0.45 | 5.19 | 3150 | | | | including | 144.90 | 145.55 | 0.65 | 23.40* | 2,700 | | | | including | 147.00 | 147.30 | 0.30 | 10.40* | 4,530 | | | | including | 148.77 | 149.07 | 0.30 | 3.13* | 6,350 | | | 504700E | TL-20-702 | 26.45 | 35.70 | 9.25 | 3.90* | 516 | 36 | | Camp Shoot | including | 27.10 | 35.70 | 8.60 | 4.01* | 549 | 34 | | | including | 27.10 | 28.80 | 1.70 | 7.86* | 1,417 | | | | including | 27.10 | 27.40 | 0.30 | 34.00* | 2,320 | | | | including | 28.50 | 28.80 | 0.30 | 8.48* | 5,570 | | | | including | 35.20 | 35.70 | 0.50 | 16.75* | 3,470 | | | 504700E | TL-11-394 | 97.00 | 106.70 | 9.70 | 2.20 | 728 | | | Camp Shoot | including | 99.00 | 103.00 | 4.00 | 5.01 | 1,728 | | | | including | 100.00 | 103.00 | 3.00 | 6.33 | 2,294 | | | | including | 101.00 | 103.00 | 2.00 | 9.28 | 2,881 | | | | including | 100.00 | 101.00 | 1.00 | 0.42* | 1,120 | | | | including | 101.00 | 102.00 | 1.00 | 13.08 | 5,530 | | | | including | 102.00 | 103.00 | 1.00 | 5.49 | 231 | | | 504950E | TL-14-538 | 152.74 | 168.00 | 15.26 | 0.699 | 1,270 | | | Camp Shoot | including | 156.83 | 165.00 | 8.17 | 1.02 | 2,212 | | | | including | 158.17 | 164.00 | 5.83 | 1.15 | 3,013 | | | | including | 158.17 | 158.68 | 0.51 | 1.04* | 1,640 | | | | including | 161.00 | 162.00 | 1.00 | 1.296* | 11,280* | | | | including | 162.00 | 163.07 | 1.07 | 1.42* | 3,840* | | | | including | 163.07 | 164.00 | 0.93 | 1.90* | 1,400* | | | 504700E | TL-20-701 | 14.70 | 36.56 | 21.86 | 1.03 | 331 | | | Camp Shoot | including | 18.30 | 29.00 | 10.70 | 0.61* | 430 | | | | including | 16.80 | 17.20 | 0.40 | 15.10* | | | | | including | 24.00 | 25.00 | 1.00 | 0.96* | 2,430* | | | | including | 27.62 | 28.34 | 0.72 | 1.88* | 2,340 | | | | including | 36.14 | 36.56 | 0.42 | 0.996* | 3,370* | | | 504530E | 91-56 | 423.40 | 444.40 | 21.00 | 1.17* | 49 | | | Camp Shoot | including | 441.40 | 442.90 | 1.50 | 1.51* | 260 | | | Camp Shoot | TL-03-124 | 144.00 | 148.00 | 4.00 | 3.56 | 48 | | | | including | 146.00 | 146.30 | 0.30 | 12.4 | 14 | |

Table 1D: Significant Gold Composite Intercepts for the River, Simmons and Simmons West Shoots

| Section | Hole No. | From (m) | To (m) | length (m) | Au g/t | W (ppm) | Au Grade-Thickness (g/t-m) | | 504200E | TL-18-668 | 108.75 | 113.85 | 5.10 | 1.21 | 433 | | | River Shoot | including | 108.75 | 112.00 | 3.25 | 1.52 | 623 | | | | including | 108.75 | 110.00 | 1.25 | 1.82 | 1,220 | | | River Shoot | TL-04-234 | 195.30 | 200.30 | 5.00 | 4.64 | 922 | | | | including | 197.30 | 200.30 | 3.00 | 7.72 | 1,527 | | | | including | 197.30 | 198.30 | 1.00 | 22.83 | 4,370 | | | | including | 199.30 | 200.30 | 1.00 | 0.04 | 176 | | | 503930E | TL-14-532 | 74.10 | 137.00 | 62.90 | 2.91* | 390 | 183 | | Simmons Shoot | including | 80.00 | 137.00 | 57.00 | 3.12* | 412 | 178 | | | including | 123.00 | 137.00 | 14.00 | 5.28* | 1,435* | 74 | | | including | 84.00 | 85.00 | 1.00 | 62.35* | 50* | | | | including | 124.00 | 125.00 | 1.00 | 14.70* | 3,830* | | | | including | 127.00 | 128.00 | 1.00 | 16.28* | 2,586* | | | | including | 134.00 | 135.00 | 1.00 | 26.21* | 50* | | | 503300E | TL-19-697B | 160.25 | 187.00 | 26.75 | 4.12 | 730 | 111 | | Simmons Shoot | including | 163.48 | 182.65 | 19.17 | 5.38* | 1,002* | 103 | | | including | 181.03 | 181.38 | 0.35 | 125.00* | 18,700* | 44 | | | including | 181.38 | 181.87 | 0.49 | 43.5 | 4,660 | | | 503650E | TL-11-434 | 144.00 | 189.00 | 45.00 | 1.35 | 104 | 61 | | Simmons Shoot | including | 144.00 | 159.00 | 15.00 | 1.01* | 191 | | | | including | 144.00 | 145.00 | 1.00 | 0.78* | 1,780 | | | | including | 167.00 | 167.50 | 0.50 | 2.01* | 1,060 | | | Simmons Shoot | TL-12-448 | 209.00 | 253.00 | 44.00 | 1.38 | 59 | 61 | | | including | 232.00 | 253.00 | 21.00 | 1.927 | 42 | 40 | | | including | 242.00 | 242.50 | 0.50 | 45.33 | 101 | | | 503650E | TL-11-430 | 420.00 | 428.00 | 8.00 | 0.99 | 154 | | | Simmons Shoot | including | 425.00 | 428.00 | 3.00 | 1.57* | 292 | | | | including | 426.00 | 428.00 | 2.00 | 0.52* | 581 | | | | including | 426.00 | 427.00 | 1.00 | 0.69* | 1,120 | | | 503200E | TL-11-417 | 95.00 | 108.00 | 13.00 | 2.63 | 243 | 34 | | Simmons Shoot West | including | 101.00 | 108.00 | 7.00 | 1.95* | 402 | | | | including | 99.10 | 100.00 | 0.90 | 13.2 | 44 | | | | including | 106.00 | 107.00 | 1.00 | 0.43* | 1,740 | | | | and | 118.00 | 124.00 | 6.00 | 0.60* | 1,544 | | | | including | 121.00 | 122.00 | 1.00 | 0.72* | 5,240 | | | | including | 122.00 | 123.00 | 1.00 | 0.25* | 61 | | | | including | 123.00 | 124.00 | 1.00 | 0.19* | 3,910 | | | 503200E | TL-11-419 | 83.00 | 92.00 | 9.00 | 2.51 | 384 | | | Simmons Shoot West | including | 86.00 | 91.00 | 5.00 | 1.92 | 670 | | | | including | 86.00 | 87.00 | 1.00 | 0.68 | 1,210 | | | | including | 89.00 | 90.00 | 1.00 | 1.67 | 1,410 | | | 504530E | TL-14-519 | 49.00 | 65.00 | 16.00 | 1.01 | 195 | | | Simmons Shoot West | including | 55.44 | 65.00 | 9.56 | 1.11 | 320 | | | | including | 55.44 | 60.54 | 5.10 | 0.79 | 566 | | | | including | 55.44 | 55.83 | 0.39 | 0.55* | 3,420 | | | | including | 60.15 | 60.54 | 0.39 | 0.64* | 3,691 | | | | including | 64.74 | 65.00 | 0.26 | 16.78* | 330 | | | 503090E | TL-20-708 | 41.06 | 46.43 | 5.37 | 2.91 | 759 | | | Simmons Shoot West | including | 41.06 | 43.03 | 1.97 | 3.53 | 2,026 | | | | including | 41.56 | 42.42 | 0.86 | 5.95* | 4,607 | | | | including | 41.88 | 42.42 | 0.54 | 4.09* | 6,270 | |

All tungsten assays received: out of 12,418 historical pulps across the deposit in 308 drill holes totaling 12,422 meters of core were dispatched for tungsten assaying, 55 samples returned greater than 500 ppm tungsten (529 to 6,350 ppm range). Assaying from the winter program returned only two (2) samples grading of 509 and 2,350 ppm W (with a re-assay returning 5,340 ppm W); TL-03-143 (146.8 to 147.4m) and GSC-04-04 (86.9 to 87.5 m), respectively. Hole TL12-484 returned one sample assaying 2,140 ppm W.

Geology of the Monument Bay Gold Deposit

The Monument Bay Gold Deposit consists of a series of trending east to northeast, shallow to steeper plunging shoots that extend for over 4.2 km within the regional Twin Lakes Shear Zone ("TLSZ"). The TLSZ is a major break splay off the regional Stull-Wunnummin Fault, which extends for over 400 kilometers. The deposit consists of at least six (6) east-west historical shoots, dipping between 70° to 75° to the north. A detailed structural review of selected cores by a seasoned structural geologist from Terraine Geoscience Ltd. has determined that gold deposition is structurally controlled by a combination of shallow ~20 to 25 degree east-northeast plunging and moderate 35 to 45 degree east northeast plunging shoots."

The main gold-(tungsten) host is the Twin Lake Porphyry ("TLP"), a feldspar porphyry/felsite body which is up to 80 meters thick and extends in excess for 4.2 kms. The surrounding co-magmatic felsic to intermediate metavolcanics forms an apron about the TLP and is dominant for most of the deposit area transitioning into a hanging-wall clastic metasediments in the western part of the deposit area.

On a deposit-scale a gold-bearing potassic (kspar + sericite) alteration 'pipe' in the western part of the deposit transitioning to sericite-quartz-albite feeder in the eastern part of the deposit hosted in the TLP. There are extensive tourmalinized crackle breccias within the TLP and localized tourmaline hydrothermal breccias. Tourmaline is associated with secondary quartz-carbonate-albite veining. Fuchsite has been locally noted.

Sheeted, stockwork veining (>10%-15% veining) reflect high-grade gold-(tungsten) grade thickness. The veining is continuous along strike and at depth, commonly forming within the TLP and its contacts. They form sinuous to linear/planar bodies in section with four main stockwork vein types as follows:

1.

Quartz;

2.

Quartz-Albite (smoky/mauve quartz);

3.

Quartz Tourmaline; and

4.

Quartz-Carbonate Vein.

The gold-(tungsten) mineralization is associated with very fine-grained disseminated and fracture-fill arsenopyrite, pyrite, and scheelite ± visible gold ± electrum ± galena ± chalcopyrite ± pyrrhotite. Arsenopyrite and pyrite typically range <1% to 5%, where arsenopyrite is replacing pyrite. Visible gold is commonly free and spatially associated with arsenopyrite but can occur as in inclusions within the arsenopyrite and pyrite.

Tungsten mineralization occurs in the form of scheelite and commonly occurs as follows:

1. Multiple or isolated linear, thin fractures associate quartz and quartz-albite veining sub-parallel to shearing.

1. Series of folded thin fractures and fine grained disseminated attenuated lenses.