VANCOUVER, BC / ACCESS Newswire / July 28, 2026 / Gemdale Gold Inc. (TSXV:GEMG)(OTCQB:GDGIF) ("Gemdale" or the "Company") is pleased to announce the initial drill results from the 2026 drill program at its 100% owned Pontio Gold Project located in western-central Finland. The first phase drill programme consisted of 28 diamond drill holes for a total of 5,009 metres, is mainly infill in nature to support an initial resource estimate planned for early 2027. This release reports on the results for the first 14 holes from the northern areas of the M2 Trend at Pontio.

Highlights

• Drilling focussed on the N2 Sector of the M2 Trend with intersections (downhole) continuing to show wide zones of near surface, bulk tonnage style gold mineralisation:

  • HOLE PONT082:

    • 92.85m @ 0.70 g/t Au from 44.52 m downhole plus

    • 45.72m at 0.44g/t Au from 178.72m in hole PONT082

  • HOLE PONT084:

    • 66.86m @ 0.59 g/t Au from 47.80 m downhole plus

    • 24.92m @0.63g/t Au from 135.69m in hole PONT084

  • HOLE PONT079:

    • 44.74m @ 0.65 g/t Au from 55.35 m downhole plus

    • 14.26m @0.48g/t Au from 3.9m downhole plus

    • 12.82m @0.58g/t Au from 27.18m downhole in hole PONT079

  • HOLE PONT080B:

    • 52.03m @ 0.57 g/t Au from 32.22 m downhole plus

    • 7.13m @1.2g/t Au from 10.75m downhole plus

    • 35.14m @ 0.64g/t Au from 115.54m downhole in hole PONT080B

  • HOLE PONT081:

    • 23.34m @0.79g/t Au from 6.71m downhole plus

    • 44.97m @0.55g/t Au from 45.28m downhole plus

    • 17.23m @0.53g/t Au from 102.05m downhole in hole PONT081

• Drilling significantly extends the width of the N2 portion of the M2 Trend. The mineralised diorite host to the subcropping gold mineralisation is now more than 100m in estimated true width on some profiles.

• The deposit remains completely open at depth with an average drill depth of less than 100m to date along the 4km of mineralised strike extent.

• The next round of results, focused on the central-southern "S1" Sector, visible gold has been tentatively identified in a sample in drillhole PONT093, drilled into the S1 Sector of the M2 Trend. If confirmed, this is only the second time in the project's history that visible gold has been observed. The samples from this hole are pending assay.

Toby Strauss, President and CEO comments "These first infill results from the recent drill programme, have not only confirmed gold continuity over the N2 sector but has extended and widened the N2 mineralisation. We are delighted that they continue to support previous drill results and our continued belief that the M2 Trend at Pontio has the potential to host a significant large tonnage low-grade gold deposit."

Geological Background to the Pontio Gold Project, a Large-Scale Gold System in an Active Mining District in Europe which Benefits from Tier 1 Infrastructure

The Pontio Gold Project lies in central Finland, in an historical mining district featuring extremely good infrastructure, including paved roads, power and rail lines within a few kilometres. A highly skilled labour force and a high level of local services are available, including port access, smelters and refineries. Despite a long history of base metals mining gold exploration in the area is still in its infancy; Pontio was only discovered in 2011 when the area's first gold mine (Laiva, some 45 km to the NW) was being commissioned.

Gold mineralisation has so far been outlined by drilling over a 4km strike length along the M2 Trend (Figure 1); mineralisation subcrops just beneath the surface, covered by a thin layer of soil, sand and gravel, and extends to at least 150m vertical and ranges from 20->100m in true thickness. Gold mineralisation is mainly hosted in subvertical diorite and diorite porphyry dykes intruding gneissic metasediments that occur along a NNW trending mineralised corridor.

The M2 Trend is one of a number of identified potential gold bearing structures with the others, such as the M1, M2.5 and M3 Trends yet to have significant exploration along their lengths. The M2 Trend mineralisation can be subdivided into several zones or Sectors labelled N1, N2, S1 and S2.

Figure 1 Plan view of the Pontio deposit, showing the location of the recent drilling.

Gold mineralisation is typically fine-grained and associated with disseminated chalcopyrite and pyrrhotite in generally weakly sheared and variably potassic altered intrusive rocks. Alteration is in the form of biotite amphibole and potassium felspar. Unusually for the area there is no particular association with quartz veining and arsenopyrite mineralisation. Rarely, molybdenum is noted with quartz veining. Mineralisation postdates peak metamorphism and is intimately associated with the late intrusive diorite porphyries which are younger than the diorite dykes. The deposit is enigmatic in style but has affinities with the roots of a deep level porphyry system or a disseminated orogenic style of gold mineralisation.

Details of the Drilling

The drill results being reported in this press release are all from the northern (N1 and N2) portions of the M2 Trend, which occur over a strike length of approximately 1.5km. The hosts to mineralisation in in the N1 and N2 areas are predominantly the diorite dykes, with the younger porphyries being more prevalent in the southern areas of the M2 Trend. Both the diorites and the dioritic porphyries are mineralised.

Figure 2 Plan of the N1 and N2 Sectors of the M2 Trend mineralisation at Pontio. Grade thickness (GT) is calculated as gold grade (g/t) x interval thickness (m) and is reported as gram metres (GM).

Mineralisation controls in the N1 Sector of the M2 Trend

The N1 Sector at Pontio had previously been drilled along 50m spaced profiles. The 2026 drilling in this area has focussed on trying to extend the strike of the N1 Sector both to the north and south, and to better understand the orientation and geometry of the mineralisation. Drill holes PONT071 and PONT072 were targeted at the northern extension of the N1 Sector to check the orientation of the higher grade mineralisation. Both these holes showed a number of samples with elevated gold grades within a broad halo zone of low-grade (

The N1 Sector now has 23 drillholes intercepting the body, along 50m spaced profiles. The significant intersects in N1 Sector are shown in Table 1.

Table 1 Significant drill intersections from the N1 Sector of the M2 Trend. Intersection lengths are downhole lengths, Bulk intersections are reported at a cutoff grade of 0.3 g/t gold with 10m internal dilution. True widths are estimated as 65-85% of downhole intersect length. Drillhole locations listed in Appendix. Holes not included in Table 1 intersected no significant gold mineralisation greater than the cutoff or a grade thickness greater than 5.

Mineralisation in the N2 Sector of the M2 Trend

PONT073 was drilled on the northern extension of the N2 Sector and had two objectives, to extend the strike of the mineralisation northwards, and to test the IP chargeability anomaly lying to the west of the main M2 Trend. The drillhole intersected a number of mineralised zones of dioritic rocks where the M2 Trend was expected, with the best intersection of 22.92m @ 0.48 g/t Au. In the projected source area for the chargeability anomaly, drilling intersected dioritic and gneissic rocks containing disseminated pyrrhotite, but with only very weakly elevated gold grades.

PONT074 and PONT075 were scissor holes on the same profile.. Both holes intersected zones of mineralisation in diorites and gneissic diorites (diorites with a strong tectonic fabric), separated by gneissic inclusions. PONT074 intersected some higher grade mineralisation 2.85m of 3.87 g/t Au from 26.9m within broader mineralised intersects in the 0.5 - 0.6 g/t Au range (see Table 2). The western chargeability anomaly was again shown to be caused by barren pyrrhotite disseminations in dioritic intrusives and gneiss.

PONT076 and PONT077 to the west into a narrow portion of the N2 Sector mineralisation to test continuity. PONT076 intersected 34.47m @ 0.54 g/t Au in dioritic intrusive. The steeper and longer PONT077 intersected several zones of mineralisation including 28.95m @ 0.69 g/t Au from 54.25m and deeper zones of 7.80m @ 0.75 g/t Au from 96.57 plus 9.13m @ 1.69 g/t Au from 131.47m, extending the N2 mineralisation westwards.

PONT078 lies on the same profile as PONT076 and PONT077, but was drilled 150m to the east of the M2 Trend to test an eastern chargeability anomaly. This drillhole intersected anomalous (but low grade) gold mineralisation in intrusive diorites, with a best sample of 1.06m @ 0.63 g/t Au at 37.24m.

PONT079 and PONT080B were drilled westwards a further 100m south, into the core of the N2 Sector. PONT80B was redrilled when PONT080 had to be abandoned for technical reasons at a depth of 90m. Both PONT079 and PONT080B returned numerous intersections of mineralisation, separated by zones of gneissic inclusions, with PONT079 intersecting a cumulative 71.82m of mineralisation and PONT080B intersecting a cumulative 94.3m of mineralisation.

PONT081 and PONT082 both drilled through the porphyry unit, before intersecting the adjacent diorite intrusive to the west. Both the porphyry and the diorites contain mineralisation, although it is the thicker intersect of porphyry in PONT082 that has returned an intersection of 92.85m @ 0.70 g/t Au from 44.52 m downhole, with cumulative mineralised intersect of 138.57m. PONT081 returned a cumulative mineralised intersect of 85.54m. Cumulative intersects include several mineralised intercepts separated by intercalations of unmineralised gneiss.

PONT083 similarly to PONT078 was drilled approximately 100m to the east of the M2 Trend to test an eastern chargeability anomaly. This drillhole intersected anomalous (but low grade) gold mineralisation in intrusive diorites, with a best intersect of 2.01m @ 0.80 g/t Au at 53.05m.

PONT084 is the southernmost hole of this phase into the N2 Sector. The hole was planned to infill between the intersections in PONT006 and PONT024. The hole intersected a thick zone of porphyry (including 66.86m @ 0.59g/t Au) as well as a shorter interval of well mineralised diorite at the end of the hole (24.92m @0.63g/t Au, including 4.10m @ 1.3g/t Au) and extends mineralisation southwards as well as widening the known mineralisation

The N2 Sector now has a total 35 drillholes along approximately 50m spaced profiles, with most profiles having 2 - 4 drillholes. The significant intersections from the N2 Sector are shown in Table 2.

Table 2 Significant drill intersections from the N2 Sector of the M2 Trend. Intersection lengths are downhole lengths, Bulk intersections are reported at a cutoff grade of 0.3 g/t gold with 10m internal dilution. True widths are estimated as 65-85% of downhole intersect length. Drillhole locations listed in Appendix. Holes not included in Table 2 intersected no significant gold mineralisation greater than the cutoff or a grade thickness greater than 5. Newly reported drillholes marked with an asterisk.

Discussion on Results

The N1 and N2 Sectors are now drilled on 50m profiles (Figure 3), and the drilling has been successful in extending and widening the mineralisation in the N2 Sector, and continuing to return thick mineralised intervals of intrusive on the infill profiles.

The drilling to test the IP chargeability anomalies has shown that the anomalies are caused by pyrrhotite mineralisation in diorite dykes and gneisses, that do not, at the depth drilled, contain any significant chalcopyrite and gold mineralisation.

Figure 3 Long Section of N1 and N2 Sectors showing the 0.2 g/t Au mineralisation shell and the pierce points of the drillhole intercepts which are colored and sized according to grade*thickness in gram metres.

Visible Gold Seen in Core in the S1 Sector

Although no assay results have yet been received in relation to the remaining drillholes, which are almost all from the S1 and S2 Sectors of the property, located in the southern portions of the M2 Trend. During core cutting and sampling of hole PONT093 in the S1 sector to the south, one sample was tentatively identified as containing visible gold. This visual identification has been supported by pXRF analysis, which while unable to detect gold, showed extremely high silver values, which has previously been shown by microscopy to be associated with gold grains (electrum) at Pontio. In the 10,000 metres of historical drilling at Pontio, visible gold has only been identified once previously in a sample in PONT057, approximately 100 metres to the south of PONT093 with no drilling in between. We obviously need confirmation of this in assay results, but if confirmed, the possibility of a sub-zone containing higher grade gold would be a significant new finding at Pontio.

Drilling, Core Sampling and QA/QC Protocols

The drill programme was contracted to Nivalan Timantikairaus Oy ("NTKOY"). Drilling was completed with an Atlas Copco CS1000 rig drilling HQ3 sized core. The drill programme started in January 2026 and was completed in May 2026.

Drill core is logged and sampled in a secure core storage facility located in Ylivieska, Finland. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to ALS Minerals, Outokumpu, an international accredited mineral analysis laboratory, for sample prep and analysis. All samples are analysed for gold using Fire Assay-AA techniques (method Au-AA23) and multi-element analysis (method ME-MS61). As part of Gemdale's quality assurance/quality control program (QA/QC), certified gold reference standards are routinely inserted into the sample stream every 20th sample (5%). The Qualified Person has reviewed the results of the QA/QC programme and confirms that no significant QAQC issues were noted with the results reported herein.

Qualified Person and NI 43-101 Disclosure

Dr. Toby Strauss (CGeol.; EurGeol.), Director, President and CEO of the Company, is the Qualified Person as defined by National Instrument 43-101. Dr Strauss has verified the data supporting this news release. Verification includes checking the reported assays in the Company database against the issued laboratory assay certificates. Additional verification has included checking the location and orientation of the drill collars in the Company database against historic maps and reports. Dr Strauss is responsible for the accuracy of technical information contained in this news release. Dr Strauss has reviewed and approved the technical and scientific content of this news release.

More About Gemdale Gold

Gemdale Gold Inc. owns a portfolio of highly prospective exploration licenses in Finland, and is focused on making significant new gold and critical metal discoveries on these properties. The Company has been active in Finland since 2018. The Company's 100% owned projects include:

Pontio Gold Project (western Finland): Historical and recent drilling has outlined near-surface gold mineralisation along a multi-kilometre trend that remains open along strike and at depth. The Company started an infill and extension drill programme in February, 2026, and, based on this programme, plans to deliver a maiden mineral resource estimate in early 2027.

Isoneva (western Finland): Exploration stage gold project located proximal to extensive boulder train anomalies. The property is subject to an option agreement (the "Isoneva Option") with Nordique Resources Inc. ("Nordique") pursuant to which Nordique may earn a 100% interest by, among other things, funding exploration expenditures over a three-year period and making additional financial commitments to the Company. For more information on the Isoneva Option, please see the Company's final long form prospectus dated January 30, 2026 under the heading "Business of the Corporation - January 1, 2025 to the date hereof".

Lapland Projects (northern Finland): A group of exploration permits and applications located within a recognised gold and base-metal exploration region, in proximity to several recent regional discoveries, including Rupert Resources' Ikkari gold project.

Nuotti (western Finland): Copper-nickel-platinum-palladium exploration license where limited historical government drilling indicates the presence of near-surface copper-PGM mineralisation.

Savo / Rantasalmi (southeastern Finland): Exploration license application area containing a historical NI 43-101 Inferred resource estimate prepared by a prior operator of 3.23 million tonnes grading 2.7 g/t gold for approximately 276,000 ounces of gold.

In November 2018, Rupert Resources Ltd, released an NI 43-101 Mineral Resource Estimate completed by Brian Wolfe (Qualified Person) of International Resource Solution Pty Ltd. The NI 43-101 Technical Report was filed by Rupert Resources Ltd on SEDAR on 9th November, 2018. No new data subsequent to an earlier 2011 estimate was included in this study. This study used Multiple Indicator Kriging (MIK) for the estimation of grade into the block model. This study assumed a combined open pit and underground mining operation, recoveries of 85-90% and a gold price of EUR 1,200/oz (current gold price ~ EUR 4240/oz). The use of MIK as an estimation method, along with the requirements of a greater degree of confidence in the geological continuity for underground mining, were given as the reasons for the assigned lower resource category of Inferred Resources compared to the 2011 Resource Estimate. The Resource Estimate was reported at a cut-off grade of 1.5 g/t Au.

The Company is not aware of any further drilling or sampling being conducted on the property since this historical estimate was completed. Gemdale Gold Inc is not treating this historical estimate as a current resource estimate. Neither Gemdale Gold Inc nor a suitable Qualified Person, has done sufficient work to classify the historical estimate as a current Mineral Resource Estimate. The company believes this historical estimate is relevant and reliable in providing insight into the potential mineral resources for the project based on historical drilling completed to date, as it was completed by a Qualified Person in accordance with NI 43-101. Gemdale Gold believes that further drilling is not required to verify or upgrade these historical resources to a current Mineral Resource Estimate, but that it is necessary for a Qualified Person to review the assumptions and methodology used for the estimation.

Additional disclosure, including the Company's financial statements, technical reports, news releases and other information, can be obtained at https://gemdalegold.com/ or on SEDAR+ at https://www.sedarplus.ca/home/#.

ON BEHALF OF GEMDALE GOLD INC

"Dr. Toby Strauss"
President & CEO

For Further Information Please Contact:

Mr. Paul Durham, MSc.
Director and EVP Corporate Development
Cell: +1 203-940 2538
Email: paul.durham@gemdale.eu

Mr. Patrick Chidley, MS, CFA
Executive Chairman
Cell: +1 917-991 7701
Email: patrick.chidley@gemdale.eu

Website: www.gemdalegold.com

Cautionary Note on Forward-Looking Statements

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.

This news release contains certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements regarding the Company's exploration and development plans, in particular the ongoing drill program on the Pontio Gold Project, other anticipated drill programs, potential mineralisation, resource estimates, future financing plans, use of proceeds, regulatory approvals, market conditions and the Company's future business objectives. Forward-looking information is generally identified by the use of words such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," "believes," or variations of such words and phrases, or statements that certain actions, events or results "may," "could," "would," "might" or "will" occur or be achieved.

Forward-looking information is based on a number of assumptions that management believes to be reasonable at the time such statements are made, including, without limitation, assumptions regarding the availability of capital, the receipt of required regulatory approvals, the continuation of favourable market conditions, the accuracy of historical and technical data, and the Company's ability to execute its exploration and development plans as currently contemplated. However, forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking information. Such factors include, without limitation, risks related to exploration and development activities, commodity price fluctuations, availability of financing, regulatory approvals, environmental and permitting risks, operational risks, and general economic and market conditions.

Accordingly, readers should not place undue reliance on forward-looking information. Although the Company believes the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

ANNEXURE 1: Location of Pontio Drillholes

SOURCE: Gemdale Gold Inc.