FIREFOX GOLD CORP

FireFox Gold Corp. is a Canadian gold exploration company focused exclusively on Lapland, northern Finland.  The company controls a large land package within the Central Lapland Greenstone Belt (CLGB), a Proterozoic greenstone belt that hosts several major gold deposits and mines, including those operated by Agnico Eagle and discoveries made by Rupert Resources. Currently, the Company has five wholly owned projects (Mustajärvi, Sarvi, Jeeesiö, Nunara & Naula and one project, Kolho, under a joint venture with Agnico Eagle (Figure 1).

The potential of the CLGB has been highlighted by Agnico Eagle’s recent acquisitions announced on April 20, 2026 of Rupert Resources including the Ikkari deposit for shares and contingent cash consideration of ~CDN$2.871 million (US$2,038M), acquisition of Aurion Resources for aggregate cash consideration of ~CDN$481 million (US$341M) and acquisition of B2Gold’s 70%  interest in Fingold for US$325 million in cash.

Work by FireFox has primarily been focused on the Company’s flagship property, Mustajärvi, which is 100% owned and covers 7.8 km² of permits with major shear zones (Venejoki Thrust Zone and Mustajärvi Shear Zone). Access is by paved highway.  The name means “black lake” in Finnish.

Work by Firefox has outlined a massive alteration system comprising kilometres of albite-sericite with a diagnostic geochemical footprint and important structural controls typical of orogenic gold deposits.  Exploration work by Firefox has outlined consistent, shallow high-grade orogenic-style gold in multiple zones striking over 2.1 kilometres, from surface to ~250m depth.  Previous drilling has outlined multiple high-grade +100 gram-metre gold intervals, such as 15.04 g/t Au over 13.05m. Figure 2 shows major target areas on Mustajärvi.

Current zones being explored are open for expansion in multiple directions with new prospects identified for follow-up.  Last year, 13,000+ m of diamond drilling was completed, with an additional program started in August 2025 focused on advancing the project towards an initial resource in 2027, concurrent with exploration to delineate drill targets in new areas.

The results for the first four (4) drill holes in the 2025/2026 program were released on October 27, 2025.  These holes were designed to test fixed loop electro-magnetic (FLEM) geophysical surveys completed earlier in the year. Drill hole 25MJ001 tested one of these interpreted conductors, located nearly 280 metres southwest of the centre of the East Zone.  This hole returned 9.55m averaging 9.35 g/t Au from 65.45m and 11.1m averaging 7.28 g/t Au from 85.15m.

Drill holes 25MJ002, 25MJ003 and 25MJ004 were directed to the NW in a fence from northwest to southeast, stepping out approximately 50 metres from the main body of the East Zone mineralization. All three holes encountered multiple intercepts of significant gold, with narrow intervals of high-grade gold (> 10 g/t). These holes were considered to confirm the continuation of the gold mineralized zone along strike to the southwest, and hole 25MJ004 extended the deep intercepts first reported in 2023.

Firefox reported results from an additional three (3) holes on February 9, 2026.  Drill hole 25MJ009 stepped out almost 100 metres from the high-grade intercepts at the Northeast Zone (NEZ) to test for continuation along the shear zone. This hole intersected several high-grade gold-mineralized intervals, including 1.95m averaging 54.91g/t Au from 102.75m, including 1.05m at 101 g/t Au and 3.0m averaging 7.75 g/t Au from 184.80 m, including 1.0 m at 18.65 g/t Au. Hole 25MJ011, collared 300m from the centre of the East Zone, intersected 1.35m averaging 8.17 g/t Au while hole 25MJ010, collared 190m north of hole 25MJ009, had no significant results but may have missed its target.

Further results from seven (7) additional holes were reported on April 9, 2026.  Drill holes 25MJ016 through 25MJ021 were drilled in a fence configuration to probe the southwest extension of the East Zone, while drill hole 25MJ022 tested a magnetic low on the north side of the system.  All holes were reported to have intercepted gold mineralization above the cutoff grade of 0.3 g/t Au. The best intervals include:

• 25MJ020: 5.0m averaging 6.29 g/t Au from 116m depth, including 1m at 24.9 g/t Au; and 13.0m averaging 4.57 g/t Au from 163.8m depth, including 3m at 11.66 g/t Au;
• 25MJ019: 9.85m averaging 3.52 g/t Au from 203m depth, including 0.85m at 13.15 g/t Au; and 3.0m averaging 4.63 g/t Au from 219m depth, including 1m at 13.25 g/t Au; and
• 25MJ021: 3.0m averaging 12.07 g/t Au from 70m depth, including 1m at 29.2 g/t Au.

On May 5, 2026, results from nine (9) more holes in the Northeast and East Zones were released. Drill hole 26MJ005 at the Northeast Zone tested for deeper extensions of a high-grade gold zone (first reported in 2021) and intersected 11.0 metres at 4.9 g/t gold from 301.5 metres downhole. The hole also hit several other lower-grade intervals, opening the southern and deeper parts of the Northeast Zone for more follow-up drilling.

In step-out drilling at the East Zone, drill hole 26MJ004 extended the zone by 50 metres to the northeast with intercepts such as 3.0m at 1.51 g/t Au, 4.3m at 1.5 g/t Au, and 3.2m at 1.12 g/t Au, all intersections from less than 100m depth. The Company added three more holes with narrow, lower-grade intercepts from grid drilling on the south side of the East Zone.

Figure 1
Source: FireFox Gold

Location of FireFox properties in Central Lapland Greenstone belt and location of major mines in northern Finland (FireFox corporate presentation July 2026).

Figure 2
Source: FireFox Gold

Major target areas, Mustajärvi Gold Project (FireFox corporate presentation July 2026).