Vancouver, British Columbia--(Newsfile Corp. - September 18, 2026) - Walhalla Gold Corp. (CSE: WAU) (OTCQB: WAUXF) ("Walhalla Gold" or the "Company") is pleased to provide an update on the technical and corporate work undertaken since the Company's spinout and the appointment of Steven Jukes as Chief Executive Officer in July 2026.

Over the past several weeks, Walhalla has focused intensively on building the technical and operating foundation required to advance its District Discovery Strategy in Victoria, Australia. The Company has engaged RSC, a market leading geological consultant with critical Walhalla-Woods Point district knowledge, to support the review and integration of its extensive historical exploration dataset and provide technical input into target generation and prioritization.

The strategy is designed to systematically evaluate the Company's extensive land position for the potential to define multiple projects across multiple mineral systems, including gold, antimony and broader critical mineral potential, summarised below.

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Walhalla is also establishing an active presence in Victoria. CEO Steven Jukes has met with government representatives, visited the Company's project areas and engaged with industry stakeholders. The Company has also joined the Association of Mining and Exploration Companies ("AMEC"), strengthening its connectivity within Australia's exploration and mining industry.

Highlights

• Strengthening Team Capabilities: Walhalla is expanding its technical, exploration and stakeholder capabilities to support execution of the District Discovery Strategy, with further corporate updates expected in the near term as these initiatives advance.

• District Discovery Strategy: Controlling approximately 1,230 km² across the Walhalla-Woods Point region, including the past producing Walhalla-Woods Point district (1.68 Moz at 37.9g/t Au), our District Discovery Strategy has been built to systematically evaluate multiple projects and mineral systems across gold, antimony and broader critical mineral potential.

• Compelling Historical Data: Our extensive dataset includes significant historical drilling and geological data which is being re-evaluated to identify potential extensions and repeat structures. Critically, this also includes key geological markers of the highly productive Cohen's Reef mine which extended to approximately 1,120 metres below surface.

• Multiple Target Areas: The geological learnings from our historical data is being applied across the broader land position to identify the most prospective targets which we will prioritize for systematic field programs.

• Field Program Definition: Airborne and ground geophysics, LiDAR, remote sensing and AI- and machine learning-driven target generation will be deployed to systematically identify and prioritize opportunities across Walhalla's extensive land position.

Steve Jukes, Chief Executive Officer and Director, commented: "The extensive work undertaken over the past several weeks, both in the data and on the ground in Victoria, has strengthened our conviction in the opportunity at Walhalla. As we finalise our District Discovery Strategy, we are focused on applying what we learn from known mineral systems across the broader land position to generate and prioritize new opportunities. We are now moving from evaluation to field work planning and execution, with clearer exploration priorities and a growing pipeline of project opportunities across the district."

Next Steps

Walhalla's near-term focus is on advancing its field programs and translating the ongoing technical work into ranked exploration targets and defined work programs across the broader land position.

As these initiatives advance, the Company expects to provide further updates on exploration priorities, field activities and the continued build-out of its technical and corporate capabilities.

About the Walhalla Gold Project

The Company owns the Walhalla Gold Project, located in the state of Victoria, which is a district-scale project consisting of 1,230 sqkm2 of concessions. Cohen's Reef is one of the largest and most productive gold-bearing quartz reefs ever discovered in Victoria and the Company's early exploration will target the identification of potential repeat structures nearby old developments. In addition to multiple areas with past historic production such as Cohen's Reef, the Walhalla Gold Project contains high-priority greenfield targets such as Pinnacles where extensive soil geochemistry has highlighted a 400m x 1,100m gold mineralized aplitic dyke which contains disseminated sulphides and outcrops at surface. The Pinnacles target is fully permitted, accessible, and ready for immediate drilling.

Qualified Persons Statement

The scientific and technical information contained in this news release has been reviewed and approved by Michael Moore, P. Geo., Director of Walhalla Gold Corp., a Qualified Person ("QP") as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Moore is not independent of the Company within the meaning of NI 43-101. The QP has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performances. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulation. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements.

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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Source: Walhalla Gold Corp.