• Drills turning at Crippleback, testing a large, intensely altered zone with potential for both orogenic gold and a gold-copper porphyry-style system
• Crippleback geology shares similarities with Equinox Gold's Valentine deposit, located along the same structural corridor
• New technical presentation by VP Exploration Greg Matheson outlines the geological model and multi-deposit potential at Crippleback: https://youtu.be/nHkDVqCQc9s
• Episode 7 of Pirate Gold Treasure Hunters now airing: https://youtu.be/GI7ROL3aXa0
• New Pirate Gold website now live with interactive maps, geology, latest videos, and investor materials: www.pirategold.ca

St. John's, Newfoundland and Labrador--(Newsfile Corp. - March 20, 2026) - Pirate Gold Corp. (TSXV: YARR) (OTCQB: SICNF) ("Pirate Gold" or the "Company"), is pleased to announce the commencement of drilling at the Crippleback Lake Target Zone ("Crippleback") within its district-scale Treasure Island Project in central Newfoundland, alongside the release of Episode 7 of the Pirate Gold Treasure Hunters series and a new technical presentation on Crippleback from VP Exploration Greg Matheson.

Crippleback: Drilling Into the System

With drills actively turning at Moosehead following recent high-grade results and a new zone discovery, the Company is now advancing a second front at Crippleback.

Crippleback is a distinct geological setting defined by a large, intensely altered zone identified through mapping, drilling, and geophysical surveys, alongside a significant concentration of gold, copper, and molybdenum surface mineralization, supporting the potential for a gold-copper porphyry-style system.

Denis Laviolette, Executive Chairman & CEO, commented:
"With drilling underway at Moosehead delivering high-grade results, we're now stepping into the next phase of the story at Crippleback. What stands out here is the scale and intensity of alteration across the system. Situated along the same structural corridor as Equinox Gold's Valentine deposit, this is exactly the type of setting where large gold systems can develop. Our focus now is to connect the dots between high-grade veins and the broader system driving them."

The Company believes this dual-track approach, combining high-grade vein expansion at Moosehead with drilling at Crippleback, significantly enhances the discovery potential across the 78,600 hectare, 92 km strike Treasure Island Project.

Pirate Gold Treasure Hunters Season 1 Episode 7 - Treasure In the Depths

Episode 7 of Treasure Hunters follows the next phase of the 2026 exploration campaign as the Company expands beyond Moosehead and begins drilling at Crippleback. The episode features:

• The expansion from high-grade drilling at Moosehead into system-scale targeting at the Crippleback Target, marking the next step in unlocking the Treasure Island system
• Field mapping and geological observations highlighting a large, intensely altered zone with associated gold, copper, and molybdenum
• Initial drilling at Crippleback designed to test the source of the alteration system and better understand controls on mineralization
• Ongoing drilling at Moosehead continuing to define and expand high-grade vein-hosted gold mineralization
• The evolving geological model across Treasure Island, linking high-grade veins to a potentially larger underlying mineralizing system

Cannot view this video? Visit:
https://www.youtube.com/watch?v=GI7ROL3aXa0

Inside Crippleback: The Geology Behind Pirate Gold's Newest Target

Alongside Episode 7 of Treasure Hunters, the Company has released a detailed technical presentation led by VP Exploration Greg Matheson, outlining the geological model at Crippleback. The presentation highlights the potential for multiple deposit types, including orogenic gold, copper-gold porphyry, and epithermal systems - supported by large-scale alteration, strong geophysical anomalies, and widespread copper-molybdenum mineralization.

Cannot view this video? Visit:
https://www.youtube.com/watch?v=nHkDVqCQc9s

New Pirate Gold Website Launch

The Company also announces the launch of its newly redesigned website, providing investors with a comprehensive view of the Treasure Island Project and the Pirate Gold story. The new website features:

• An updated overview of the Treasure Island Project along the Valentine Lake Fault
• Interactive maps, geology, and exploration strategy across the district-scale land package
• The latest videos, including the Pirate Gold Treasure Hunters series
• Investor presentations and corporate materials
• Visit: www.pirategold.ca

Drill holes discussed in Treasure Hunters Series

Drill hole PGC-26-058 has been initiated at Crippleback to follow-up on the strong alteration zone encountered in drilling from 2024. The hole is anticipated to extend to deeper depths than past drilling. The initial 55m of this hole has encountered strongly clay altered quartz monzonite with 5-8% pyrite mineralization.

Table 1 - Drill Hole Information for PGC-25-001 through PCG-25-008

Fig. 1 - Crippleback Zone Location Map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6079/289294_153fb6bee468390b_001full.jpg

Qualified Person

Greg Matheson, P.Geo., VP Exploration for Pirate Gold, a "Qualified Person" under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

About Pirate Gold Corp.

Pirate Gold Corp. is led by an experienced management team and is the dominant explorer along the Valentine Lake Fault Zone in Newfoundland, Canada's newest gold district. The Company's primary focus is its 100% owned district-scale Treasure Island Gold Project, along with a portfolio of gold projects, including the district-scale Fleur de Lys Project.

For more information, please contact:

Acknowledgment

Pirate Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Investors are cautioned that trading in the securities of the Company should be considered highly speculative. This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be "forward-looking statements." Actual results may differ materially. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) including statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other matters are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements. Factors that may cause results to vary include delays in obtaining necessary approvals, changes in the market for the Company's securities, results of exploration, loss of title to properties, delays in obtaining permits or access to mineral properties, including as a result of adverse weather, fire or flood, changes to the Tax Act, rejection of expenditures as Qualifying Expenditures, and factors included in the documents filed from time to time with the Canadian securities regulatory authorities by Pirate Gold Corp. Pirate Gold Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289294

Source: Pirate Gold Corp.