Toronto, Ontario--(Newsfile Corp. - October 19, 2026) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) ("Big Ridge" or the "Company") is pleased to report positive results from the 2026 metallurgical program on mineralization from its 100%-owned Hope Brook Gold Project ("HBGP"), located on the southwest coast of island of Newfoundland. The program was undertaken at Base Metallurgical Labs ("BaseMet") and directed by Canenco Consulting Corp. ("Canenco") and supports the advancement of the Company's Preliminary Economic Assessment ("PEA").

Locked-cycle flotation produced a concentrate grading approximately 24% copper, 300 g/t gold and 93 g/t silver, with 90.3% copper recovery to concentrate. Leaching of the cleaner tails returns overall gold recovery of 88%.

Michael Bandrowski, President and CEO of Big Ridge Gold, commented: "The strong copper and gold recoveries and high-grade copper-gold concentrate significantly exceeded our expectations for the Hope Brook Project. The additional gold recovery potential from tails leaching returns recoveries above historical production figures. This work supports evaluating a conventional flotation and leaching flowsheet in our PEA. We are excited to move forward on the process design of the HBGP PEA and highlight the significant value in our flagship gold project."

Metallurgical Highlights

• 90% copper recovery into a flotation concentrate grading 24% copper.

• High-grade precious metal concentrate containing 300 g/t gold and approximately 93 g/t silver, in addition to copper.

• 88% overall gold recovery including gold to concentrate plus leached cleaner tailing.

• Up to 96.6% gold recovery and 98.6% copper recovery demonstrated in rougher flotation testing.

• 53.7% gravity-recoverable gold potential identified.

• Simplified conventional processing flowsheet consisting of primary grinding, copper flotation, concentrate cleaning and leaching of cleaner tailings.

Metallurgical Performance Outshines Historic Production Results

Historical production data from 1994 through 1997 achieved gold recoveries ranging from approximately 82% to 90% at an average feed grade of approximately 3.0 g/t gold.

The recent metallurgical program was conducted on mineralization with an average gold feed grade of approximately 1.08 g/t. The current test work indicates the potential to achieve increased overall gold recovery of approximately 88% using the revised flotation and cleaner-tail leaching flowsheet.

Figure 1: Gold Recovery from Testing Compared to Historical Operations

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The results from the 2026 metallurgical program are very encouraging and indicate that increased metallurgical performance may be achievable at feed grades similar to those processed from 1994 - 1997.

Gravity Recovery Evaluated

Gravity recoverable gold testing identified that 53.7% of the gold could be recovered into approximately 1.75% of the feed mass under laboratory test conditions. Subsequent gravity circuit modeling indicated potential plant gravity recoveries ranging from approximately 27% to 40%, depending on circuit configuration. However, comparative flotation tests conducted with and without gravity concentration demonstrated minimal differences in rougher flotation gold and copper recoveries.

Metallurgy - Next Steps

The Company, working with its metallurgical and engineering consultants, intends to undertake additional metallurgical and process development work to further optimize the flowsheet and support future engineering studies.

The planned work includes:

• Additional locked-cycle flotation testing on representative composites to further define metallurgical responses.

• Integrated flotation and cleaner-tail leaching testing to confirm overall gold recovery.

• Assessment of coarser primary grind sizes to potentially reduce grinding energy consumption.

• Additional fine-grinding energy testing to optimize cleaner-tail leaching conditions.

• Evaluation of gravity recovery as an optional processing enhancement.

• Metallurgical variability testing across different ore types, gold grades and copper and sulphur domains.

• Thickening, tailings characterization and geochemical testing to support process and environmental engineering.

Hope Brook Gold Project - Next Steps

• Complete metallurgical testing on 150kg of tailings samples from the HBGP.

• Update historic 2014 Mineral Resource Estimate for the HBGP tailings (figure 2);

• Complete Alpha IP Geophysics program on Woodman's Droke,

• Continue with Main & 240 Zone diamond drill program.

• Continue Environmental baseline studies

Results from these programs will be used to refine project criteria and support the Company's ongoing work.

Figure 2: Historic (2013) Tailings Mineral Resource Estimate

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Qualified Person

Stacy Freudigmann P.Eng. F.Aus.IMM., Principal SME for Canenco Consulting Group, a Qualified Person within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.

Paul Robinson, P. Geo., Vice President Exploration for Big Ridge, a Qualified Person within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.

About Hope Brook

The Hope Brook Gold Project is an advanced stage, high-grade gold project that produced 752,162 ounces of gold from 1987 - 1997. Initial production consisted of an open pit before moving to underground mining. Hope Brook operated using both heap leach (1987 -1990) and conventional cyanidation milling methods (1989-1997) with a later inclusion of flotation concentration to recover copper (1991). Government records indicate that gold recoveries from milling ranged between a low of 78.8% in 1987 and a high of 85.9% in 1989. Government and company annual reports indicate that gold recoveries ranged between a low of 82.1% in 1994 and a high of 89.83% in 1996 following a change of ownership. Copper flotation produced a concentrate at approximately 22% Cu and 34.3 g/t Au for shipment in 1992.

Hope Brook hosts an Indicated gold resource totalling 16,190,000 tonnes grading 2.32 grams per tonne gold for 1.2 million ounces and Inferred resources totalling 2,215,000 tonnes grading 3.25 grams per tonne gold for 231,000 ounces based on a 0.4 and 2.0 gram per tonne cut-off grades for open pit and underground resources respectively using a long-term gold price of US$1,750.

The Hope Brook gold deposit is a high-sulfidation epithermal gold deposit hosted in the Proterozoic aged Whittle Hill Sandstone and is intruded by a Late Proterozoic quartz-feldspar porphyry sill-dike complex of the Roti Intrusive Suite. The deposit is located adjacent to and within an extensive advanced argillic alteration envelope which includes pyrophyllite, kaolinite, andalusite, and alunite. The principal gold mineralization occurs in light grey to dark grey, massive silicic rocks, commonly vuggy, with several percent pyrite and/or chalcopyrite + bornite either as disseminations or veinlets. Gold mineralization is also found with pyrite in units of advanced argillic alteration adjacent to or near silicic alteration horizons. The altered and mineralized zone is cut by mafic dykes whose contacts are often mineralized. All the altered and mineralized sequences and the intruded dykes have been folded.

The Hope Brook is located 40 kilometers west of Burgeo and 85 kilometers east of Port aux Basques, Newfoundland. The project has well maintained infrastructure on site, including an operational 28-person camp, an 1,100-meter airstrip, an ice-free docking facility and importantly, connection to the provincial electrical power grid via an on-site substation.

About Big Ridge Gold Corp.

Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with strong social license from our local communities. Big Ridge owns a 100% interest in its flagship Hope Brook Gold Project, located in Newfoundland and Labrador. Big Ridge also owns 100% in the highly prospective Oxford Gold Project located in Manitoba and the Destiny Gold Project in Quebec.

Acknowledgement

Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural Resources' financial support of the Company's 2023 exploration programs through the Junior Exploration Assistance (JEA) Program.

For more details regarding the Company's projects, please visit our website at www.bigridgegold.com.

ON BEHALF OF THE BOARD,

Mike Bandrowski,
President & CEO
 

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.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.

Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations, or beliefs regarding future events, and include, without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares. All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. When relying on our forward-looking statements to make decisions with respect to Big Ridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.

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Source: Big Ridge Gold Corp.