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Pirate Gold Expands Moby Dick Copper-Gold Discovery; Intersects Porphyry Within a 2.7km Magnetite Corridor

Via TMX Newsfile

Yahoo Finance News S. Vincent Anthony November 13, 2026 at 9:00 AM

Pirate Gold Expands Moby Dick Copper-Gold Discovery; Intersects Porphyry Within a 2.7km Magnetite Corridor TMX Newsfile Fri, November 13, 2026 at 4:00 AM EST 24 min read GC=F +0.49% HG=F -0.69% YARRF +5.35% YARR.V -7.69% PGC-26-123 expands the mineralized footprint: Collared approximately 200m west of discovery holes PGC-26-058 and PGC-26-068, the hole intersected 0.23% Cu Eq over 261.0m from 32.0m downhole.

Copper-gold mineralization identified across approximately 2km of strike: PGC-26-120, drilled approximately 1.7km east of the discovery holes, returned 0.19% Cu Eq over 137.0m, including 0.36% Cu Eq over 20.0m.

Magnetite corridor: A 2,700m zone of magnetite enrichment is interpreted to extend through the Moby Dick EM anomaly, coincident with granodioritic porphyry and copper-gold rich fluids.

Follow-up drilling: Assays are pending from 20 additional holes targeting Moby Dick, with visible chalcopyrite and molybdenite logged in 19 holes.

Barge drilling underway: Four holes have been completed from the barge-mounted rig on Crippleback Lake, providing access to portions of the Moby Dick EM anomaly inaccessible from land.

Deeper targeting advances: The airborne Mobile MT survey was completed on September 26, with final deliverables expected in mid-November 2026 to help refine deeper targets for drilling in late 2026 and early 2027.

Episode 21 of Pirate Gold Treasure Hunters now airing: https://youtu.be/kzFka4kZMVg

St. John's, Newfoundland and Labrador--(Newsfile Corp. - November 13, 2026) - Pirate Gold Corp. (TSXV: YARR) (OTCQB: YARRF) ("Pirate Gold" or the "Company") is pleased to report assay results from drilling at the Moby Dick copper-gold discovery within the Crippleback Intrusive Suite at its 100%-owned Treasure Island Project in Central Newfoundland. The Treasure Island Project covers over 90 km of strike along the Valentine Lake Fault Zone in Canada's newest gold district.

PGC-26-123 was collared approximately 100m west of PGC-26-118 and intersected 0.23% Cu Eq (0.11% Cu; 0.10 g/t Au; 1.07 g/t Ag; 7.8 g/t Mo) over 261.0m. This interval includes 0.51% Cu Eq (0.18% Cu; 0.28 g/t Au; 2.11 g/t Ag; 6.5 g/t Mo) over 20.0m. Beyond this interval multiple additional zones of >0.1% Cu Eq including 0.40% Cu Eq (0.12% Cu; 0.24 g/t Au; 1.66 g/t Ag; 1.26g/t Mo) over 17.0m. This drill hole exhibits very similar grade distribution to PGC-26-118 which intersected 0.24% Cu Eq (0.13% Cu; 0.087 g/t Au; 1.72 g/t Ag) over 299.4m; includes 0.43% Cu Eq (0.21% Cu; 0.184 g/t Au; 2.00 g/t Ag) over 56.5m, including 0.52% Cu Eq (0.24% Cu; 0.238 g/t Au; 2.06 g/t Ag) over 35.6m. With additional deeper intervals of 0.43% Cu Eq (0.26% Cu; 0.112 g/t Au; 4.12 g/t Ag) over 19.8m and 0.23% Cu Eq (0.12% Cu; 0.084 g/t Au; 1.65 g/t Ag) over 72.7m, including 0.33% Cu Eq (0.17% Cu; 0.121 g/t Au; 2.32 g/t Ag) over 37.0m.

PGC-26-127 was drilled approximately 300m east of PGC-26-123 and intersected multiple broad zones of >0.1% Cu Eq starting at the bedrock surface to downhole depths of 645.0m. Highlighted intervals from this hole are 0.15% Cu Eq (0.02% Cu; 0.10 g/t Au; 0.92 g/t Ag, 9.4 g/t Mo) over 286.0m including 0.40% Cu Eq (0.05% Cu; 0.28 g/t Au; 3.18 g/t Ag; 10.8g/t Mo) over 19.3m and a deeper interval of 0.15% Cu Eq (0.09% Cu; 0.04g/t Au; 1.26 g/t Ag; 4.1g/t Mo) over 162.1m.

PGC-26-120 was drilled 1,900m east of PGC-26-123 within the Moby Dick EM anomaly. This hole intersected an approximately 75m (from 235.7m to 310.2m) wide porphyritic granodiorite dyke intrusion (Figure 1) that exhibits a strong magnetic signature (Figure 3). The surrounding rock volume exhibited several distinctive features including strong potassic alteration up to 150m external to the dyke and copper-gold mineralization across broad intervals reporting 0.19% Cu Eq (0.10% Cu; 0.07 g/t Au; 0.80 g/t Ag; 16 g/t Mo) over 137.0m with higher grade intervals including 0.36% Cu Eq (0.19% Cu; 0.13 g/t Au; 1.60 g/t Ag; 1.26 g/t Mo) over 20.0m nearest to the margins of the intrusion; external to above interval broad zones of copper-gold mineralization showed elevated molybdenum results including 0.12% Cu Eq (0.04% Cu, 0.03 g/t Au, 2.16 g/t Ag, 49.2g/t Mo) over 10.0m.

The zone of magnetite enrichment and porphyritic intrusions is interpreted to extend throughout the Moby Dick EM anomaly along roughly 2700m (Figure 3). Currently this is being examined as one causal source of the broad advanced argillic alteration envelop developed at Moby Dick as well as the broad zones of copper-gold mineralization found within it.

Figure 1. Granodiorite Porphyry in PGC-26-120 at approximately 274.0m

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Figure 2. Recent Drilling at Moby Dick Alteration Zone

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Figure 3. First Vertical Derivative Magnetics showing Moby's Porphyry and Magnetite Corridor

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"Our initial stage of drilling at the Moby Dick anomaly has shown that the scale of the mineral system is truly astonishing. In less than 6 months we've identified broad zones of copper-gold mineralization along a length of over 5 kilometres; depths of over 450m and with many holes stopping in mineralization. The scale of this mineral system already exceeds many of the copper-gold porphyry mines both in Canada and globally presenting us with a unique opportunity to bring the project forward. Furthermore, we're starting to understand one of the controls of this mineralization centered around a multi-kilometer long magnetite rich zone containing granodioritic porphyritic intrusions. The recognition of magnetite rich magmatic fluids surrounding the porphyritic intrusion has a strong correlation with higher grades in the very broad envelopes of mineralization. Phase two of exploration has already begun to focus on this magnetic core and 19 drill holes showing visible mineralization are pending analysis at the lab," said Greg Matheson, VP Exploration.

"We see a major opportunity at Moby Dick, and this latest financing gives us the firepower to go after it," said Denis Laviolette, Executive Chairman and CEO. "A copper-gold porphyry system of this size was not on anyone's map, including ours, a year ago. Today we have drilled it across two kilometres of strike, intersected porphyry, and have a magnetite corridor to steer by. A discovery like this demands conviction and sustained exploration, and we are backing it with both. With barge drilling underway and a substantial pipeline of assays pending, we are entering the next phase with clearer targets and the capital to test them. Our focus is on expanding the discovery and pursuing the higher-grade zones that could make Moby Dick a defining asset for Pirate Gold."

Table 1. Significant assay results.

1 True widths are unknown; all intervals are reported as downhole lengths.

2 See the QA/QC section for metal-equivalent assumptions and calculation methodology.

3 Intervals not listed are considered to have returned no significant assay results.

4 PGC-26-126 and PGC-26-129 were terminated prior to reaching bedrock

Figure 4. Location of Crippleback within the Treasure Island Project

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Airborne Mobile MT Survey and Barge Drilling Updates

The Company contracted Expert Geophysics of Newmarket, Ontario, to conduct an airborne Mobile MT geophysical survey over the southern portion of the Treasure Island Project. The survey follows the airborne EM program completed in April, 2026, which defined a resistivity anomaly closely correlated with the Moby Dick alteration zone as well as several similar geophysical features throughout the Crippleback intrusive suite (Figure 6). Mobile MT is a passive EM system used to map subsurface resistivity and identify potential deeper targets associated with copper-gold porphyry and epithermal mineralization. The survey was completed on Sept 26, 2026 is anticipated to be able to image subsurface resistivity to an approximate depth of 1 to 2 kilometres. Final survey deliverables are expected in mid-November 2026 and Company anticipates drill testing deep targets in late 2026 into early 2027.

The Company launched its barge-based drilling program on the waters of Crippleback Lake in mid-September, 2026 to allow access to the broad regions of the Moby Dick EM anomaly not accessible from land. To date four holes have been completed.

Figure 5. Airborne EM Conductivity Model with Target Zones

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Visual Observations from Follow-up Drilling at Moby Dick

Twenty additional holes have targeted the Moby Dick alteration zone with assay results pending. The intervals of logged visible copper mineralization are summarized below (see figure 6).

Fine grained chalcopyrite disseminated in host rock

Fine grained chalcopyrite stringer in vein and host rock

Fine grained chalcopyrite disseminated in host rock

Fine grained chalcopyrite disseminated in vein and host rock

Fine grained chalcopyrite disseminated in host rock

Medium grained molybdenite and chalcopyrite blebs in veins and host rock

Medium grained chalcopyrite blebs in veins and host rock

Fine grained chalcopyrite disseminated in host rock