Axcap Ventures Confirms Converse Growth Potential With High-Grade Oxide Gold Discovery And Broad Bulk-Tonnage Intersections

VANCOUVER, BC / ACCESS Newswire / November 3, 2025 / Axcap Ventures Inc. (CSE:AXCP) ("Axcap" or the "Company") is pleased to provide an update on new drill results from its flagship Converse Gold Project ("Converse"), located in Battle Mountain Trend in Nevada, USA. Results from holes CV25-003C and CV25-005C discovered a new zone of shallow, high-grade oxide gold 170 metres from the nearest known mineralization, as well as extensive bulk-tonnage mineralization. These results reinforce the Company's thesis that Converse is significantly underexplored and holds substantial upside beyond the current resource estimate of 5.57Moz Au of Measured and Indicated Mineral Resources and 0.42Moz Au Inferred Mineral Resources.

Key Highlights

• 25.0 m grading 0.96 g/t Au from 262.4 m in CV25-005C located approximately 900 metres from recent drill hole CV25-002C which returned 18.01 metres grading 1.75 g/t Au within the Havallah Sequence from 228m;

• Successful 2025 program to date with all four holes drilled returning significant intercepts of gold mineralization outside of the current pit shell;

• Previously unrecognized zone of high-grade shallower oxide material set to be targeted in upcoming drill programs.

Highlights from CV25-005C (Figure 1)

High grade oxide zone intersection

• 25.0 m grading 0.96 g/t Au from 262.4 m, including:

  • 10.8 m @ 1.70 g/t Au from 273.7 m

Oxide zone intersection

• 10.1 m grading 0.51 g/t Au from 311.2 m

• 28.1 m grading 0.31 g/t Au from 394.7 m

Transitional zone intersections

• 15.2 m grading 0.59 g/t Au from 485.5 m

Mixed transitional and sulphide zone intersections

• 81.8 m grading 0.55 g/t Au from 522.1 m

• 67.8 m grading 0.49 g/t Au from 722.4 m

All mineralized intervals in hole CV25-005C were intersected outside the US$2,000/oz gold optimization shell. The hole discovered a previously unrecognized breccia unit directly beneath overburden and remained within it to a depth of 403 metres, before passing into skarn-altered clastic sediments and ultimately terminating within a separate, previously known breccia pipe - the intended target of the drill hole.