Bonanza Gold Intercept from Phase 2 Drilling at Bousquet

Montreal, Quebec–(Newsfile Corp. – March 23, 2026) – Bullion Gold Resources Corp. (TSXV: BGD) (“Bullion Gold” or the “Corporation“) is pleased to announce first assay results from the Phase 2 drilling at the Paquin Prospect have returned bonanza gold grades. Previously reported intervals of logged visible gold (see announcement 17th February 2026) had been prioritised for analyses and returned a bonanza gold intercept of 7.5m @ 41.81 g/t Au from 182m (BO-26-63). Assay results are still pending for the remainder of hole BO-26-63, along with those for the remaining 6 drill holes of the Phase 2 drill program. Hole BO-26-63 was drilled at 3300 azimuth to test for high grade gold lodes that potentially run parallel to the previous drill-hole orientation of 2100. Veining in the gold mineralised zones indicate a complex array of vein orientations. The mineralisation is hosted on the margins and within fractures of sericite and chlorite altered dark quartz veining, within strongly deformed wacke sediments (Figure 1).

Figure 1 Core photos from BO-26-63 with assays digitised over the relevant intervals from 182.0 to 189.5m.

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Highlights

• First assays received for Phase 2 drilling at Paquin result in bonanza gold intercept:
  • 7.5m @ 41.81 g/t Au from 182m (BO-26-63)

• This result is the best gold drill intersection for the Bousquet Project to date and adds confidence to the structurally-controlled mineralisation model at Paquin

• Assays still pending for the remainder of BO-26-63 and an additional 6 holes

• Drilling has now been completed at the Bousquet Project with 7 holes drilled for a total of 1,639m

• Bousquet Gold Project located on Cadillac Break in Quebec, Canada, a regional structure associated with world-class gold mines (>110 Moz Au¹)

• Situated within 15km of multi-million ounce working gold mines (Agnico Eagle’s La Ronde – 15.8Moz Au² and Iamgold’s Westwood – 2.4Moz Au³)

Link to Figure 2

Link to Figure 3

Table 1: Significant gold intersections (downhole) from the Phase 2 drill program at the Bousquet Gold Project*

* Awaiting further assays for the remainder of hole BO-26-63 and the other 6 holes of the drill program.

“We are excited to see this high-grade intercept at Paquin confirming the visual gold that was logged in the drill core. These first results from the second phase of drilling highlight the potential of the high-grade lodes, and are the best drill results for the Bousquet Project to date. We look forward to seeing the outstanding assays results for BO-26-63 and the other 6 holes of the program, due in the coming weeks.” Commented Sean Delaney,Olympio Metals Managing Director.

Olympio has the option to acquire an 80% interest in the Bousquet Project in Quebec from Bullion Gold Resources for total payment of C$1.25M (cash and shares) and an exploration investment of C$2M. Olympio has made payments of C$0.30M (cash and shares) to date and completed exploration spend of nearly C$1.0M. Bullion will retain a 20% undivided interest (net carried interest) in this project.

Competent Person’s Statement, Sampling, Drilling and Analysis Details

The information in this announcement that relates to exploration results is based on information compiled by Mr. Neal Leggo, a Competent Person who is a Member of the Australian Institute of Geoscientists and a consultant to Olympio Metals Limited. Mr. Leggo has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Leggo consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

Diamond core samples (NQ) were collected in timber core trays, sequence checked, metre marked and oriented at the drill site. The drill core was logged at Explo-logik core shack in Val D’Or by Quebec qualified geologists. All drill core is NQ. All downhole surveying is done with an OMNIX42 (every 30m), rig alignment with a TN14 Gyro, diamond core was not orientated for this program. Alternatively, a downhole televiewer survey will be conducted on all holes. Proportion of core recovered for each 3-metre interval of core drilled is recorded in the drill database. All drill core was qualitatively logged by the Explo-logik staff geologist. Logging includes lithology, alteration, mineralisation, veining and photography. The main rock types observed in the logging were greywacke, siltstone and conglomerate. Sample are sent to either AGAT Laboratories in Thunder Bay or Laboratory Expert in Rouyn-Noranda. All samples from 2025 and 2026 drilling were analysed at AGAT Laboratories; However, samples from BO-26-63 drillhole have been analysed at Laboratoire Expert. Samples sent to AGAT were analysed for Au by 50g fire assay fusion (FA) with Atomic Absorption Spectroscopy (AAS) finish (202-551), and also 34 elements by 4-acid digest with ICP_OES finish (201-070). Samples with observed or suspected coarse gold as logged by the geologist were analysed by screen Fire assay (202-121). From the pulverised sample, a 1kg sub-sample was sieved to 106μm. The +106μm fraction was analysed to extinction by FA/ICP(OES) and the -106μm fraction by FA/ICP(OES).

AGAT protocols are considered by the Qualified Person to be consistent, in general, with industry standards.

Samples sent to Laboratory Expert were analysed for Au by 30gm lead fire assay (FA) with Atomic Absorption Spectroscopy (AAS) finish. Samples with values greater than 30g/t or have logged visible gold are re assayed by fire assay with gravimetric finish.

About Bullion Gold Resources

Bullion Gold Resources is a junior exploration company active mainly in Quebec, particularly in the Abitibi and James Bay mining regions. The Company holds a 100% interest in the Bousquet (Au), Cadillac-Extension (Langlade Prospect – VMS), and Bodo (Polymetallic) projects.

The Bousquet project is optioned to Australian company Olympio Metals (Oly), which may earn up to 80% of the gold project in exchange for $1.25M in cash and shares, plus $2M in exploration expenditures. Bullion would then retain a 20% undivided (net carried) interest.

The Langlade project (72 claims – 4,127 ha) is a drill-ready VMS project under development.

The Bodo project (761 claims – 410 km²) is an early-stage exploration project with anomalous and indicative occurrences of critical and strategic minerals (Au, Ag, Cu, Zn, Li, Pb, Co, Mn). Its main prospects – Rivon Lake, Canico, Licé, Tichégami, and Didi — offer polymetallic, VMS, and IOCG potential.

Other Information

The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts no responsibility for the veracity or accuracy of its content.

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. The forward-looking statements are based on certain key expectations and assumptions made by the Corporation. Although Bullion Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Bullion Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Corporation’s management discussion and analysis of the financial condition and results of operations for the year ended December 31, 2024 and the third quarter ended September 30, 2025, which are available on the Corporation’s profile at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof and Bullion Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.

Table 2: Collar information for completed drill holes from Olympio drill programs at the Bousquet Project

Table 3 Significant gold intersections from 2025 drilling at the Bousquet Gold Project (Current announcement highlighted green, ≥ 0.5g/t Au cut-off, 1m min. width, 2m max. internal dilution (downhole))

References

¹Poulsen, K., 2017 The Larder Lake-Cadillac Break and Its Gold Districts, Economic Geology, v. 19, pp. 133-167

²NI 43-101 Technical Report, La Ronde Complex, Québec, Canada, 24 March 2023

³Iamgold Corporation, Table 3: Mineral Reserves and Mineral Resources, 31 December 2023, retrieved from https://s202.q4cdn.com/468687163/files/doc_news/2024/02/iag-2024-mrmr-estimate.pdf

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