Vancouver, British Columbia–(Newsfile Corp. – April 7, 2026) – Galloper Gold Corp. (CSE: BOOM) (OTC Pink: GGDCF) (the “Company” or “Galloper“) is pleased to announce a 2026 updated NI 43-101 compliant Mineral Resource Estimate (MRE) of it’s 100% owned and controlled Lunch Pond South Extension (LPSE) Deposit.
The LPSE 2026 Gold Mineral Resource Estimate was undertaken using a gold price of US$3,500 per ounce with a conversion rate of $0.72 USD to $1.00 CAD, 95% process recovery, C$32/t process cost, C$5/t G&A cost and C$3/t open pit mining cost.
Indicated Mineral Resources increased by 2.095 Mt, 62 koz Au and Inferred Mineral Resources increased by 4.616 Mt, 99 koz Au in the latest update.
The Mineral Resource model has changed significantly via geological and engineering modelling, with the assumed higher gold price and costs to constrain the Mineral Resources and a lower cut-off. The grade estimate was undertaken with LeapfrogTM wireframes based on drill hole assays > 0.25 g/t Au, capped composites, variography, 2.5 m x 2.5 m x 2.5 m block model and a NPV SchedulerTM optimized pit shell.
The Glover Island Property covers an area of 116.6km2 and contains the LPSE 2026 Gold Mineral Resource. Gold Indicated and Inferred Mineral Resources in the LPSE Mineral Resource were delineated for Galloper Gold Corp. and are stated as:
1) At a 0.25g/t Au cut-off pit-constrained Indicated Mineral Resource of 3.124 Mt at 1.20g/t Au;
2) At a 0.25g/t Au cut-off pit-constrained Inferred Mineral Resource of 6.692 Mt at 1.02 g/t Au.
Galloper Gold’s CEO Mr. Hratch Jabrayan has highlighted: “The LPSE 2026 Gold Mineral Resource Estimate reflects new insights and thinking on geological interpretation coupled with a buoyed gold price in today’s markets. Through this, the engineering parameters have been updated to produce a significant upgrade to the LPSE Mineral Resource Estimate. This repositions Galloper Gold Corp. with a significantly increased asset assessment and aligns the company with a modern disclosure to be consistent with global-mineral-developer’s trends of Mineral Resource assessments.”
The LPSE Deposit is located at the south-western portion of an 11 km mineralized corridor known as the Glover Island Trend (GIT). This prospective GIT is host to 17 gold, base metal, nickel, and polymetallic minerals prospects. In addition, numerous gold anomalies cross several rock types adjacent to a major tectono-structural break known as the Cabot Fault. Adding to the prospectivity of the GIT, The Ming Mine, Tilt Cove Mines, Nugget Pond Mine, and Pine Cove Mine are situated strike-north proximal to this fault on the Baie Verte Peninsula showing the prolific mineralized nature of this major structure on which the Glover Island Property sits.
The updated LPSE 2026 Gold Mineral Resource table highlights the increased values:
| Table 1.1 | ||||
| LPSE 2026 Mineral Resource Estimate | ||||
| Classification | Au Cut-off | Tonnes | Au | Au |
| (g/t) | k | g/t | koz | |
| Indicated | 0.25 | 3,124 | 1.20 | 121 |
| Inferred | 0.25 | 6,692 | 1.02 | 219 |
(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. It is noted that no specific issues have been identified as yet.
(2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(3) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
(4) The LPSE 2026 Gold Mineral Resource Estimate was undertaken using a gold value of US$3,500 per ounce with a conversion rate of $0.72 USD to $1.00 CAD 95% process recovery, C$32/t process cost, C$5/t G&A cost and C$3/t open pit mining cost.
P&E Mining Consultants Inc., who performed the Mineral Resource modelling, are independent Qualified Persons and have prepared the updated MRE within the parameters of the NI 43-101 Standards of Disclosure for Mineral Projects.
*Technical information regulating the material disclosure regarding the LPSE 2026 Gold Mineral Resource (2026 MRE), to be released in Technical Report form within 45 days of this news release. The effective date of the resource is April 6, 2026.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Eugene Puritch, P.Eng., FEC, CET., President for P&E Mining Consultants Inc. Mr. Puritch is the independent Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
About Galloper Gold Corp.
Galloper Gold Corp. is focused on mineral exploration in central Newfoundland on its Glover Island exploration project. The property comprises 466 mining claims on 13 mineral licences covering 116.6sqkm (11,660 Ha). Historical exploration efforts produced the 2017 LPSE Resource and the LPSE 2026 Gold Resource which is wholly controlled by Galloper Gold Corp.
For more information please visit www.GalloperGold.com and the Company’s profile on SEDAR+ at www.sedarplus.ca.
On behalf of the Board of Directors,
Mr. Hratch Jabrayan
CEO and Director
Galloper Gold Corp.
Company Contact:
info@gallopergold.com
Tel: 778-655-9266
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words “anticipate”, “plan”, “continue”, “expect”, “estimate”, “objective”, “may”, “will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify forward-looking statements. Although the Company 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 the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally, risks related to capital markets, risks related to the state of financial markets or future metals prices and the other risks described in the Company’s publicly filed disclosure.
Management has provided the above summary of risks and assumptions related to forward-looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company’s future operations. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
