Highlights

• Phase 1 Exploration: Initiated a geological mapping and rock-chip sampling program over the Bonito Property in collaboration with Rangefront Mining Services ("Rangefront") and ProDeMin USA LLC ("ProDeMin").

• Geophysical Survey: Completed a drone magnetic survey over the Bonito Project.

• NI 43-101 Technical Report: Advancing the compilation and evaluation of historical and current exploration data toward the preparation of a technical report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for the Bonito Project.

• Drill Permitting Advancement: Preparing a proposed Plan of Operations ("POO") application to support an initial Phase 1 drilling program utilizing five drill pads for up to 15 drillholes. The Company plans to submit the POO application to the applicable regulatory authorities in the near term.

• Environmental Studies: Engaged an independent environmental consulting firm to undertake environmental assessments, including biological surveys, in support of the proposed POO. Environmental consultants are expected to mobilize to the Bonito Project in the coming weeks.

Vancouver, British Columbia--(Newsfile Corp. - October 19, 2026) - Nation Gold Corp. (CSE: NATN) (OTCQB: NATNF) (the "Company" or "Nation") is pleased to provide a corporate and exploration update on its 100%-owned Bonito Gold-Silver Project (the "Bonito Project"), located in the historic Nogal-Bonito Mining District of Lincoln County, New Mexico. The Company continues to advance exploration and permitting activities at the Bonito Project. Recent activities include rock-chip sampling, geological mapping, an airborne drone magnetic survey and the engagement of additional geological and environmental consultants to support an expanded exploration program and advance permitting for an initial Phase 1 drill program.

Mark Bailey, CEO and Director of Nation Gold, commented, "We continue to make meaningful progress at Bonito as we advance exploration, technical evaluation and permitting activities. We have commenced a comprehensive follow-up program with ProDeMin geologists that will include collecting more than 300 rock-chip samples across prospective mineralized zones building on our initial limited sampling program and recently completed airborne magnetic survey. Importantly, we are also advancing preparations for a Plan of Operations application covering repair of the existing access roads and establishing five new drill pads for up to 15 drillholes. With experienced geological and environmental consultants engaged, our focus is on systematically advancing Bonito through the next stages of exploration and permitting. We believe the combination of a historically productive gold-silver district and a significantly expanded land position with limited modern exploration provides a compelling opportunity to evaluate Bonito's discovery potential."

Phase 1 Exploration and Geophysical Surveys

Nation Gold has contracted for an initial geological mapping and limited widespread rock-chip sampling program followed up by a more comprehensive rock-chip sampling program, which is currently underway.

This initial program was designed to improve the Company's understanding of the geological setting, identify prospective mineralized structures and generate additional information to support future exploration targeting.

The drone magnetic survey was undertaken to provide additional geophysical information that may assist in identifying geological structures, alteration patterns, and lithological contacts. The drone survey utilized survey line spacing of approximately 50 metres at a nominal sensor altitude above ground level of 40 meters.

Nation Gold is compiling and interpreting the available geological, geochemical and geophysical information to support a more comprehensive exploration model. Additional rock-chip sampling and geological mapping are currently underway across prospective areas of the property, including the Main Breccia Zone, as part of the Company's first phase exploration program.

Engagement of ProDeMin and Expanded Exploration Program

Nation Gold has engaged ProDeMin, an independent specialized geological consultancy led by Dr. Craig Gibson, to execute a comprehensive fieldwork program, provide technical support and assist with planning and coordinating the Company's next phase of exploration at Bonito. Additional targeted rock-chip sampling across planned drilling targets around the Great Western Mine and the Main Breccia Zone. The final report by ProDeMin will include a digital geological map and laboratory data processing.

ProDeMin personnel anticipate mobilizing to the property this month to commence a comprehensive rock-chip sampling program, targeting prospective mineralized zones across the Company's expanded land package, including the Main Breccia Zone. The program is designed to systematically evaluate prospective gold-silver mineralization, improve the Company's understanding of the geological and structural controls on mineralization, and identify and refine priority targets for future exploration drilling.

The planned program is expected to build upon the Company's Phase 1 exploration program and historical exploration database, with an emphasis on further geological interpretation, target refinement, rock-chip sampling and systematic evaluation of prospective mineralized zones across the property. In parallel, Nation Gold, alongside ProDeMin, is advancing the compilation and review of historical and current technical information to support the preparation of a technical report for the Bonito Project in accordance with NI 43-101.

Drill Permitting Application

The Company is preparing a proposed POO application to support an initial Phase 1 exploration drilling program. The proposed application contemplates five drill pads, each measuring approximately 30 feet by 70 feet. The Company intends to minimize additional surface disturbance where practicable, subject to regulatory requirements and approval of the proposed exploration activities. Nation Gold anticipates submitting its POO application to the applicable regulatory authorities in the coming weeks.

Environmental Studies

Nation Gold has engaged Cedar Creek Associates Inc. ("Cedar Creek"), an independent US-based environmental consulting firm, to assist with environmental assessments, biological surveys and regulatory permitting activities at the Bonito Project. Cedar Creek will assist with the environmental baseline work and permitting requirements associated with the POO application, including biological surveys and other environmental assessments that may be required by regulatory authorities.

Cedar Creek is expected to mobilize to the Bonito Project in the coming week to commence field investigations and advance the permitting process.

The Company is working with its geological and environmental consultants to coordinate the proposed drilling program with the applicable regulatory requirements. The timing and commencement of drilling remain subject to receipt of all necessary regulatory permits and approvals.

Qualified Person & Disclosure

The scientific and technical information contained in this news release has been reviewed and approved by Mr. Mark Bailey, P.Geo., CEO & Director of the Company and a Qualified Person ("QP") as defined under NI 43-101. Mr. Bailey is not independent of the Company. Mr. Bailey has verified the exploration data disclosed in this press release, including the sampling, analytical and test data underlying the information that has been collected by Nation Gold.

About ProDeMin
Based in Vail, Arizona, with offices in Guadalajara and Hermosillo, Mexico, ProDeMin provides specialized quality and technology-driven services for mineral exploration, focusing on project management, technical reporting, and field operations across North America.

About Cedar Creek
Cedar Creek Associates is a practical and specialized ecological consulting firm based in Ft. Collins, Colorado. Cedar Creek provides biological, soil, and risk assessment services to support environmental permitting and planning, regulatory compliance, and closure requirements. Cedar Creek's clientele include energy and mineral extraction companies, land developers and land management groups, and other clients whose projects disturb the land surface. Specializing in arid landscape reclamation design, the projects are located throughout the U.S. and internationally. Cedar Creek's interdisciplinary team of professional scientists brings a high level of expertise and common sense to the multi-faceted challenges associated with soil and biological assessments, compliance solutions, land remediation, and reclamation. Cedar Creek specializes in providing project-specific soils, vegetation, and wildlife solutions in a cost-effective manner, and has done so successfully since inception in 1982.

About Nation Gold Corp.
Nation Gold Corp. is an exploration company based in Vancouver, BC. The Company recently acquired a 100% interest in the Bonito Gold-Silver Project in the Nogal-Bonito Mining District of New Mexico, USA. The Bonito Project was formerly in production in the late 1800s and has seen limited modern exploration, most recently in the 1980s and 1990s by Pioneer Metals and Placer Dome. The Company is led by a team of mining, exploration and capital markets professionals focused on acquiring potential multi-million-ounce precious metals deposits in Tier 1 mining jurisdictions. The Company also has a 100% interest in the Cattle Creek Project located near Vernon, BC. For further information, please visit the Company's website at www.nationgold.ca.

On behalf of the Board of Directors of the Company,

Mark Bailey, CEO & Director

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements").

Forward-looking statements are generally identified by words such as "anticipates," "expects," "intends," "plans," "believes," "estimates," "may," "will," "would," "could," "potential," "proposed" and similar expressions, or statements that certain events or conditions may or will occur.

Forward-looking statements in this news release include, but are not limited to, statements regarding the Company's planned exploration activities at the Bonito Gold-Silver Project; the anticipated mobilization of geological and environmental consultants; the commencement, scope, timing and completion of the expanded exploration program, including the collection and analysis of more than 300 rock-chip samples; the interpretation of geological, geochemical and geophysical data; the identification and evaluation of prospective mineralized zones and potential drilling targets; the preparation of a technical report in accordance with National Instrument 43-101 on the Bonito Project; the completion of environmental assessments and biological surveys; the preparation and anticipated submission of a Plan of Operations application; the proposed establishment of five drill pads and improvements to existing access infrastructure; the receipt of necessary regulatory permits and approvals; and the Company's ability to advance the Bonito Project toward an initial Phase 1 drilling program of up to 15 drillholes.

These forward-looking statements are based on management's current expectations, estimates, assumptions and beliefs, including assumptions regarding the availability of qualified personnel and contractors, the timing and outcome of exploration activities, the interpretation of geological information, the ability to obtain necessary permits and regulatory approvals, the availability of sufficient financing, and general market and operating conditions.

Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied. Such risks include, without limitation, delays or difficulties in completing planned exploration programs; exploration results that differ from expectations; geological uncertainties; delays in obtaining or failure to obtain necessary permits and regulatory approvals; environmental and regulatory requirements; potential restrictions on property access or surface disturbance; contractor and equipment availability; adverse weather conditions; changes in applicable laws and regulations; fluctuations in commodity prices and capital markets; the availability of financing; and other risks inherent in mineral exploration and development.

There can be no assurance that the Company's planned exploration activities will be completed as anticipated, that the Plan of Operations will be submitted or approved within the expected timeframe, that necessary permits will be obtained, or that the proposed drilling program will commence or be completed. Furthermore, there can be no assurance that exploration activities will result in the discovery of economically viable mineralization.

Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this news release are made as of the date hereof and, except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319567

Source: Nation Gold Corp.