ESGold Highlights Significant Near-Surface Mineralization from Historical Drill Program at Montauban, Validating ANT Survey Exploration

11.03.2025  |  Newsfile

Advancing Exploration at Montauban - Modern Geophysics to Assess the Scale of Mineralization

Vancouver, March 11, 2025 - ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) (FSE: Z7D) ("ESGold" or the "Company") is pleased to present historical analytical results from the 2009 diamond-drilling program at its Montauban property (the "Property") in Quebec. The results reveal the presence of noteworthy near-surface gold, silver, and base-metal mineralization and reinforce the geological rationale for the Company's recent Ambient Noise Tomography (ANT) geophysical survey.

The 2009 drill program was conducted by Excel Gold Mining Inc. ("Excel") over the North and South zones of the Montauban deposit, and confirmed high-grade gold (Au), silver (Ag), zinc (Zn), copper (Cu), and lead (Pb) mineralization, primarily within 25 metres of surface, with limited deeper exploration beyond 50 metres. Given the demonstrated mineralized system and the potential for significant expansion at depth, ESGold's ongoing ANT survey aims to define the scale and continuity of these known mineralized zones and identify high-priority drill targets down dip and along strike.

Highlights of the 2009 Drill Program

The 2009 drilling campaign comprised 52 drill holes totaling 1,505 metres and primarily tested the near-surface extensions of the North and South zones, which underlie the Property. The drilling intersected multiple high-grade intervals, particularly in gold and silver, with strong zinc, lead, and copper values, confirming the polymetallic nature of the deposit and its correlation to volcanogenic massive sulfide (VMS) deposits.

Key Highlights:

• Shallow Drilling to Date: Historical drilling at Montauban primarily tested to depths of 50 metres, with limited exploration beyond 200 metres, leaving the deposit's projected extent largely untested.

• Unlocking Depth Potential: ESGold's ongoing ANT survey will provide high-resolution imaging of mineralized structures to at least 400 metres depth, with the potential to extend deeper based on initial results.

• Targeting a Larger System: As VMS deposits commonly occur in clusters, the ANT survey is designed to test for additional mineralization on the Property. The ANT survey will systematically explore the Property's full geological footprint for the first time.

• Proven Near-Surface Mineralization: Historical diamond-drilling intersected high-grade gold, silver, and base-metals close to surface, supporting the potential for continuity of mineralization.

• Refining the Geological Model: Advanced geophysical imaging will help define high-priority drill targets and expand the Company's understanding of the known deposit's full potential along strike and at depth.

The historical analytical results provide compelling evidence of mineralized continuity at shallow depths, with highlights as follows:

Notable Drill Intercepts from the 2009 Program:

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(Note: Full drill results are available in Berubé (2010*). These drill results are historical in nature, reported by Excel Gold Mining Inc., a previous operator, and have not been independently verified by ESGold. Investors are cautioned that these results should not be relied upon for current resource estimation purposes. The true widths of mineralized intercepts remain unknown.)

* Bérubé, J.-P., 2010. Rapport de travaux, Sondages au Diamant sur la Propriété Montauban. Rapport préparé pour Excel Gold Mining Inc. par MRB & Associates. Internal Report. 20 pages.

Key Observations:

• Significant mineralization near surface, with high gold and silver grades within 25 metres of surface, confirming robust polymetallic mineralization.

• Multiple mineralized horizons identified along strike, with evidence suggesting continuity at depth.

• Limited drilling beyond 50 metres depth, indicating the potential for projected deeper extension of the mineralized system.

• Zinc and lead enrichment, consistent with the geological signature of volcanogenic massive sulfide (VMS) deposits, with potential for a larger, untapped polymetallic system.

Linking Historical Results to ESGold's Ongoing ANT Survey

ESGold is currently conducting the first-ever systematic deep imaging survey at the Property using ANT technology, with the goal of defining the full scale of the mineralized system and identifying additional drill targets at depth.

• The North and South zones, where Excel's 2009 drilling was concentrated, are primary targets for expansion, based on historical high-grade intercepts.

• ANT survey is targeting mineralized structures to 400 metre depth initially, with the potential for deeper surveys based on preliminary results.

• Given that VMS deposits typically occur in clusters, Montauban remains highly prospective for additional blind discoveries beyond the known mineralized zones.

"The 2009 drill program confirmed the presence of high-grade gold, silver, and base metal mineralization so close to surface, this left unanswered questions regarding the potential for a much larger system at depth," stated Brad Kitchen, President of ESGold. "With modern geophysical imaging now underway, the ongoing ANT survey will allow us to refine our geological model, identify high-priority drill targets, and fully define the extent of mineralization at Montauban both along strike and at depth, setting the stage for a significant discovery."

Andre Gauthier, President of Caur Technologies (provider of the ANT Survey), commented:

"The ANT survey is a transformative tool for exploration, allowing us to visualize subsurface mineralized structures in three dimensions with an unparalleled level of accuracy. Our goal is to integrate historical data with new geophysical insights to better understand the true potential of the Montauban deposit."

Geophysical surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery.

Next Steps & Exploration Strategy

The ANT survey is currently underway and is expected to conclude within 4-6 weeks, providing crucial geophysical data to enhance the understanding of Montauban's subsurface mineralization. Once completed, results will be processed and integrated with historical drilling data to define new high-priority drill targets. Pending financing, ESGold intends to utilize future cash flow from production of the tailings to systematically explore and expand the Montauban resource. This survey serves as a stepping stone for a larger, more expansive drill program, designed to build upon historical intercepts of potential mineralized zones identified through ANT, ultimately working toward defining the full scale of the Montauban deposit.

Cautionary Statement on Historical Data

The drill results presented in this release are historical in nature and were completed by a previous operator. ESGold has not independently verified this data and does not consider it current under NI 43-101 reporting standards. These results are provided for informational purposes only and should not be relied upon for resource estimation or investment decisions.

Qualified Person Statement

The technical information in this news release has been reviewed and approved by John Langton, an independent Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The historical drill results are sourced from the 2009 Montauban Drill Program Report and are considered relevant, though ESGold has not yet conducted independent verification of the drill-core data.

About ESGold Corp.

ESGold Corp. (CSE: ESAU) (OTCQB: SEKZF) (FSE: Z7D) is a fully permitted, pre-production resource company at the forefront of clean mining and exploration innovation. With proven expertise in Quebec, the Company is advancing its projects toward production and feasibility while delivering long-term value through sustainable resource recovery and exploration. ESGold's flagship Montauban property, located 80 kilometers west of Quebec City, serves as a model for responsible mining practices, combining near-term production with exploration potential.

For more information, please contact ESGold Corp. at +1-888-673-1231 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban pilot processing plant, media interviews, and opinion-editorial pieces.

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