P2 Gold Intersects 0.69 g/t Gold and 0.25% Copper Over 74.68 Meters, Including 1.32 g/t Gold and 0.38% Copper over 30.48 meters at Lucky Strike Zone

P2 Gold Inc. reported results from an additional ten reverse circulation (RC) drill holes (GBR-097 to 101 and GBR-107 to 111) drilled at the Lucky Strike Zone as part of the Infill and Expansion Drill Program at its Gabbs Project located on the Walker-Lane Trend in Nevada. Results from drilling to date confirm the Mineral Resource model for the Lucky Strike Zone. Select drill results from holes GBR-097 to 101 and GBR-107 to 111 drilled at the Lucky Strike Zone include: Hole GBR-099 intersected 0.69 g/t gold and 0.25% copper over 74.68 meters from 149.35 meters downhole, including 30.48 meters grading 1.32 g/t gold and 0.38% copper starting 150.88 meters downhole and ended in mineralization; Hole GBR-110 intersected 0.72 g/t gold and 0.31% copper over 44.20 meters starting 92.96 meters downhole, including 15.24 meters grading 0.93 g/t gold and 0.31% copper starting 94.49 meters downhole and also intersected 0.19 g/t gold and 0.18% copper over 30.48 meters starting 164.59 meters downhole; Hole GBR-111 intersected 0.71 g/t gold and 0.30% copper over 70.10 meters from 134.11 meters downhole, including 15.24 meters grading 0.99 g/t gold and 0.40% copper starting 137.16 meters downhole and ended in mineralization.

Drill holes GBR-107 to 111 were drilled on the western half of the Lucky Strike Zone to follow up on mineralization encountered in drill holes GBR-096 to 101, which appear to have intersected a higher-grade core of the zone similar to the higher-grade core of the Sullivan Zone. This core area is open for expansion to the north and south. The available drill data confirms that the ore controls at Lucky Strike are the same as at the Sullivan Zone where mineralization is localized within and below a tabular unit of quartz monzonite underlain by pyroxenite.

As with Sullivan, the higher-grade gold and copper at Lucky strike is at the core of the zone and at restricted halos around subvertical structures. This mineralization is gold dominant and gives way to copper-gold mineralization in the footwall of the main mineralized body. At Lucky Strike, the deeper footwall mineralization ranges in thickness from 20 meters to 60 meters and with the main mineralized body ranging up to 75 meters thick forms a zone with a combined thickness of up to 125 meters thick.

There are numerous quartz-filled structures that cut across the Lucky Strike Zone which come to surface and were exploited historically as narrow, high-grade pits and shallow workings. The Lucky Strike Zone remains open in all directions. Drilling is currently focused on the western half of the zone, which measures approximately 700 meters by 500 meters, as defined by current and historical drilling, and is where the relatively shallow mineralization is hosted.

This targeted area is roughly the same size as the Sullivan Zone. Based on available current and historical drill data, the Lucky Strike Zone has the potential to be significantly larger than the Sullivan Zone. Since the start of the Program in October 2025, a total of 62 RC drill holes have been drilled, with 24 holes drilled at the Sullivan Zone and 38 holes drilled at the Lucky Strike Zone.

The diamond drill has completed 31 metallurgical and slope stability geotechnical holes and four exploration holes to date. Assays will continue to be reported over the coming months. The RC drill was demobilized from site in early March with another RC drill is scheduled to mobilize to site at the beginning of May.

On completion of the Infill and Expansion Drill Program, an updated Mineral Resource estimate will be prepared for Gabbs, which is expected to be completed in the third quarter of 2026. The updated Mineral Resource estimate will form the basis of a feasibility study on placing Gabbs in production, which is expected to be completed in the fourth quarter of 2026. True thickness to be determined.

(2) All samples were submitted for preparation by ALS Global at its facilities in Reno, Nevada, with the analysis completed at ALS Global facilities in Reno, Nevada, and North Vancouver, British Columbia. All samples were analyzed using multi-digestion with ICP finish and fire assay with AA finish for gold. Samples with over 10 ppm gold were fire assayed with a gravimetric finish.

One in 20 samples was blank, one in 20 was a standard sample, and one in 20 samples had a sample cut from assay rejects assayed as a field duplicate. (3) FM means footwall mineralization. (4) Drill hole ended in mineralization.