Victoria, British Columbia--(Newsfile Corp. - October 27, 2026) - Cosigo Resources Ltd. (TSXV: CSG) (OTCQB: COSRF) has demobilized its 100%-owned drill rig and support equipment from the ridge crest to its base camp on the eastern slope of the Taraira Ridge, where it is being prepared for the next drilling campaign, targeted for 2027. Diamond drill core from the recently completed campaign is now being processed and prepared for dispatch to independent laboratories for analysis, as described below.

Operational Update

The current drilling campaign included Holes #26 through #30 along the Taraira ridge, which hosts gold mineralization within a sequence of quartz-pebble conglomerates, sandstones, and iron-formation units.

The campaign extended Cosigo's cumulative drill coverage to 5.5 kilometers of the 27-kilometre Taraira ridge system - the farthest linear extent drilled by Cosigo to date along the ridge. Two holes from the campaign - Hole #26 (139.83 meters) and Hole #27 (141.5 meters) - reached the greatest depths drilled on the property to date.

These figures describe the extent and depth of drilling completed to date. They are not an indication of the presence, continuity, or grade of gold mineralization at these depths or along this length of the ridge, which can only be determined through laboratory assay results and geological interpretation of the drilled material.

The recently drilled core from the program is now being transported to Cosigo's core-cutting facility for sawing, geological logging, and sample preparation ahead of dispatch to independent, ISO/IEC 17025-accredited laboratories for analysis. Cosigo continues to adopt and interpret historical airborne geophysical survey data acquired from the Colombian Geological Survey, that included its Taraira land package. This information is expected to enable optimum positioning of future drill campaigns along the broader 27-km ridge system.

Diamond core and RC chips from the recently completed campaign are expected to be fully processed and dispatched to independent analytical laboratories. Depending on availability of personnel and various logistics issues, this may require as much as six weeks.

Multi-Method Assay Testing Program

Gold mineralization at Taraira is characterized by coarse, heterogeneously-distributed ("nugget-effect") gold, a common feature of conglomerate-hosted, placer-related, and numerous other types of gold systems that can cause standard assay methods to understate or produce inconsistent grade results. To address this, Cosigo is continuing a multi-method analytical testing program across its sample set.

All analytical laboratories utilized by Cosigo are independent commercial testing laboratories accredited to ISO/IEC 17025 standards. Each laboratory has no relationship to Cosigo and acts as an independent, arm's-length service provider.

Cosigo's early results from testing programs compare original assay values to Chrysos PhotonAssay re-analyses of split material from the same sample intervals, from Holes #21 and #22 (drilled in 2024):

Sample 70 was analyzed using a reduced sample mass due to limited available material; this result should be treated as preliminary pending confirmation with a full sample charge. These early results are broadly consistent with the nugget-effect pattern under investigation.

Hole #25 - a short collar hole drilled ahead of Hole #26 - will also be included in this multi-method program. Its previously disclosed near-surface values (per Cosigo's news release dated August 24, 2026) remain at background levels.

Conventional fire assay, which uses a small (30-50g) sample charge, has shown variability inconsistent with the coarse gold distribution observed at Taraira. Review of Metallic Screen Analyses (Au-SCR), that process larger sample masses specifically to capture coarse gold particles, has produced more consistent results. Cosigo is also evaluating Chrysos PhotonAssay technology, a non-destructive, high-throughput method that has shown results comparable to metallic screen analysis at a lower per-sample cost. Testing across all three methods remains ongoing, and Cosigo will release results as they are received and reviewed by its Qualified Person.

Financing

Cosigo today announces a non-brokered financing (the "Financing") of unsecured convertible debentures (the "Debentures") for aggregate gross proceeds of up to CAD$115,500 (the "Offering"). The offering is subject to regulatory approval.

Terms of the Debentures

• Interest: 15% per annum, payable at maturity.

• Term: Six months from the date of issuance (the "Maturity Date").

• Conversion: Prior to the Maturity Date, the principal amount outstanding under the Debentures will automatically convert into units of Cosigo (each, a "Unit") at a conversion price equal to $0.05.

• Units: Each Unit will be comprised of one common share and one common share purchase warrant, with each warrant exercisable into one additional common share at a price of $0.05 for a period of one year.

Proceeds of the Offering will be used for additional assay costs pursuant to Cosigo's new coarse-gold testing plan, for general working capital purposes, and to fund Cosigo's ongoing exploration program at its Taraira property.

Insider Participation

Certain directors and officers of Cosigo - Robert Collawn (Chief Executive Officer), Ian Gibson, and Andy Rendle (President & COO) and/or a company controlled by him - are expected to participate in the Offering. Participation by these individuals will constitute a "related party transaction" for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relies upon the "Issuer Not Listed on Specified Markets" and "Fair Market Value Not More Than $2,500,000" exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

Regulatory

The Offering, and the terms described above, remain subject to the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

About Cosigo Resources Ltd.

Cosigo Resources Ltd. is a junior exploration company trading on the TSX Venture Exchange (symbol CSG.V). The Company is focused on exploring and developing the gold potential of its properties in the Taraira District in south-east Colombia near the border of Brazil. The Company also holds a 100% interest in the Willow Creek property, located in the northern sierras of Nevada near Winnemucca, a 100% interest in the Damian property in the Cordillera region of Colombia, and owns 13.23% of DHK Diamonds Inc. a company exploring for diamonds in the DO27 region of the Northwest Territories of Canada.

To find out more about Cosigo Resources visit our website at www.cosigo.com.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Erik Ostensoe, P.Geo., a geological consultant to the Company and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

This Qualified Person review pertains solely to the scientific and technical information set out above and does not extend to the financing matters described elsewhere in this release.

Forward-Looking Statements

This release contains forward-looking statements regarding future drilling schedules, assay delivery timelines, exploration plans, and the completion of the Offering described herein, including its timing, structure, and use of proceeds. Forward-looking statements involve inherent risks, including logistics delays, mechanical failures, changing geological conditions, and the risk that the Offering may not be completed on the terms described, or at all, including as a result of a failure to obtain all necessary regulatory and TSX Venture Exchange approvals. Actual results may differ materially. The Company undertakes no obligation to update these statements except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX-Venture Exchange) nor the OTC Markets Group Inc. accepts responsibility for the adequacy or accuracy of this Release.

Contact Information

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321120

Source: Cosigo Resources Ltd.