North Peak Commences Drilling at Prospect Mountain Gold Property

EQS-News: North Peak Resources Ltd. / Key word(s): Miscellaneous North Peak Commences Drilling at Prospect Mountain Gold Property 15.10.2025 / 13:02 CET/CEST The issuer is solely responsible for the content of this announcement. Calgary, Alberta--(Newsfile Corp. - October 15, 2025) - North Peak Resources Ltd. (TSXV: NPR) (OTCQB: NPRLF) (the "Company" or "North Peak") announces that it has begun its Autumn drilling campaign at its Prospect Mountain Mine complex (the "Property"). The Property lies 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's in gold to date.1 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.

1. 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, the 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 126.49m (415ft) @ 1.06 g/t Au, 12.3 g/t Ag from 0ft, which included 12.19m (40ft) @ 4.20 g/t Au, 71 g/t Ag from 0ft (see the Company's Aug. 14, 2024 press release). 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.

2. 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 (see the Company's June 24, 2024 press release). Note: grab samples are selective, non-representative, and are not necessarily representative of the mineralization on the Property. 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, 10.67m (35ft) @ 0.75 g/t Au from 3.05m including 1.52m (5ft) @ 3.16 g/t Au, 20.8 g/t Ag (see the Company's Aug. 14, 2024 press release) Despite the target Eldorado dolomite not being intersected in this hole, the low grade mineralisation 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.

Note 1: Represents historical production applicable to the Eureka camp. Sources: (a) “Technical Report, Lookout Mountain Project, Eureka County, Nevada, USA” dated effective Sept. 1, 2023 available under the SEDAR+ profile for Timberline Resources Corporation; (b) “NI 43-101 Technical Report on the Prospect Mountain Property, Eureka County, Nevada, USA” dated and effective April 10, 2023, available on the Company’s website and under its SEDAR+ profile; and (c) “Preliminary Economic Assessment of the i-80 Gold Corp. Ruby Hill Project, Eureka County, NV” dated effective December 31, 2024, available on the website and under the SEDAR+ profile for i-80 Gold Corp. The reader is cautioned that mineralization on adjacent properties is not necessarily indicative of what can or will be found within the Prospect Mountain Mine Complex.