Calgary, Alberta--(Newsfile Corp. - August 11, 2026) - Legacy Gold Mines Ltd. (TSXV: LEGY) (the "Company" or "Legacy Gold") is pleased to report assay results from LG26-004, the third core drill hole reported from Phase 1 of its 2026 drill program at the Baner Gold Mine Property in Idaho County, Idaho, USA (the "Baner Property").

"LG26-004 is the most important hole we have drilled at Baner because it delivers what we hoped to see from the uphill drilling," said Mike Sutton, Legacy Gold's Director and Vice President, Exploration. "The results validate our interpretation of the Main Zone as the basis for our 2026 drilling program, giving us even greater confidence that we will reach our significant Exploration Target. LG26-004 also reinforces what we continue to see across Baner-gold mineralization extending across the hillsides almost everywhere we have drilled, including at or near surface, with higher grades continuing to show up throughout."

LG26-004 combines mineralization beginning at surface, multiple substantial-width intersections and several higher-grade assays, while extending Main Zone mineralization 170m (558ft) west of the nearest prior drill intersection and 200m (656ft) uphill from the nearest 2025 drilling. The results further strengthen the geological model used to develop the Exploration Target and demonstrate the potential for extensive near-surface mineralization with very little waste between mineralized intervals and, in turn, a very low strip ratio in a future development scenario.

LG26-004 returned six (6) significant intersections, including 2.4 g/t Au over 8.2m (26.9ft), including 6.6 g/t Au over 2.3m (7.5ft), plus 1.14 g/t Au over 13.5m (44.3ft) from surface, including 3.45 g/t Au over 1.5m (5ft), plus 0.63 g/t Au over 20.1m (65.9ft), including 10.5 g/t Au over 0.5m (1.6ft). Approximately 82m of the first 134m is contained within intersections above the 0.2 g/t Au cut-off, including five intersections greater than 8m in downhole width. LG26-004 also contains four individual assays above 5 g/t Au, including 10.5 g/t, 5.6 g/t, 6.9 g/t and 7.1 g/t, the most in any 2025 or 2026 hole to date. LG26-005 returned the highest individual grade reported to date at 15.8 g/t Au over 1.5m (5ft) (see the Company's August 5, 2026 press release).

LG26-005 extended the known Main Zone length to 1,000m (3,280ft), while LG26-004 expands its mineralized footprint 170m (558ft) westward. LG26-004 is 200m (656ft) uphill from the closest holes of the 2025 drilling campaign, where LG25-004 intersected 0.55 g/t Au over 187.5m and LG25-005 intersected 0.32 g/t Au over 88.4m (290ft), plus 0.47 g/t Au over 29.0m (95ft) farther down the hill. Like LG26-004, those 2025 holes also returned long mineralized intersections with very little waste between mineralized intervals (see the Company's March 17, 2026 press release).

The LG26-004 results show the potential to fill in the whole hillside with mineralization from surface to significant depths. Assays are now back from two of six uphill drill pads, including one drilled in 2025, and both show the same pattern of mineralization beginning at or near surface. These results make it much more likely that the two undrilled pads between those locations and the two additional pads to the south will return similar results. Demonstrating uphill continuity of mineralization toward surface was the central goal of the 2026 drill program, making LG26-004 very important to the program.

Mineralization in LG26-004 was visually identified before assays were received, which would be important in any future mining scenario. Although LG26-004 did not use oriented core, two holes from the same pad drilled east and south did; assays are pending. Veining in those holes generally trends north-south and dips moderately east, matching the orientation used in the geological interpretation underlying the Exploration Target. The drilling results and geological observations are bearing out the Company's projections on all fronts.

The 2026 drill program was designed to begin with up to 12,000ft (3,658m) of core drilling in Phase 1, followed by up to 28,000ft (8,536m) of RC drilling in Phase 2. This program follows up on the successful 2025 results by targeting both the Main and Northeast Zones, as well as new exploration targets to the northwest indicated by large gold-in-soil anomalies coincident with geophysical conductors and similar magnetic highs as are in the Main Zone.

Phase 2 of the 2026 program commenced in early July and was recently interrupted by a mechanical issue with the RC rig that required a replacement engine. The replacement engine is expected to be delivered and installed this week, with RC drilling expected to resume promptly following installation and continue through the fall until the targeted 2026 drilling program is completed.

To date, eleven (11) core holes have been drilled: one (1) exploration hole to the west; two (2) holes at the south end of the Main Zone and Baner Zones; three (3) holes up the hill in the western portion of the Main Zone; three (3) holes at the north end of the Main Zone; and two (2) holes in Northeast Zone. The RC phase of the 2026 program is planned to comprise up to 43 holes.

Drilling Highlights

LG26-004 returned multiple gold intersections over substantial widths, including:

• 2.4 g/t Au over 8.2m (26.9ft) from 74.5m (244.4ft) downhole, beginning 40m (131ft) vertically below surface, including 6.6 g/t Au over 2.3m (7.5ft);

• 1.14 g/t Au over 13.5m (44.3ft) from surface, including 3.45 g/t Au over 1.5m (5ft);

• 0.63 g/t Au over 20.1m (65.9ft) from 114.0m (374.0ft) downhole, beginning 58m (190ft) vertically below surface, including 10.5 g/t Au over 0.5m (1.6ft);

• 0.27 g/t Au over 21.2m (69.6ft) from 25.8m (84.6ft) downhole, beginning 18m (59ft) vertically below surface, including 1.32 g/t Au over 0.80m (2.6ft) and 0.74 g/t Au over 0.6m (2ft); and

• 0.29 g/t Au over 16.8m (55.1ft) from 86.8m (284.8ft) downhole, beginning 46m (151ft) vertically below surface, including 1.4 g/t Au over 1.3m (4.3ft), 1.1 g/t Au over 1m (3.3ft) and 0.8 g/t Au over 1.1m (3.6ft).

See Table 1: 2026 Baner Drill Program - LG26-004 Core Assay Results and Table 2: Drill Hole Coordinates, below. See also Figures 1-2.

LG26-004 was originally planned to extend farther into the target area to test the strongest gold-in-soil values. To manage the overall program budget, the hole was curtailed before reaching the full extent of the planned target area. The strongest gold-in-soil values therefore remain beyond the end of the hole and untested, providing a priority target for follow-up drilling.

Drilling Targets

Main Zone

Drilling in 2025 intersected very wide zones such as new assays of 0.55 g/t Au over 187.5m (615ft) in the middle, 0.52 g/t Au over 108.2m (355ft) in the south, and new assays of 0.57 g/t Au over 64.0m (210ft) in the north (see the Company's March 17, 2026 press release). The deposit remains open in all directions. Drilling in 2026 will primarily drill up-hill from the drilling to date in the Main Zone to follow the interpreted flatter east-dipping veins to surface. On the south end of the north-south Main Zone are the Baner Zones. They are east-west trending and have up to 20 historical adits and shafts along them for 3,000ft.

NE Zone

The NE Zone is separated by a 400m undrilled gap from the Main Zone. It has limited drilling from 2020 by previous operators but contains multiple mineralized zones of similar grades/widths like the Main Zone. Together with the Main Zone, these are the areas that the initial exploration target at the Baner Property is based on and which Legacy Gold is aggressively drilling in 2026 in order to delineate a mineral resource.

NW Zone

The NW Zone is located 1700m NW of the Main Zone along similar geophysical and geochemical anomalies as the Main Zone. Similar magnetic highs, IP conductors and high gold-in-soil anomalies (up to 1.0 g/t gold) are located along this NW trend, as is found at the Main Zone, yet it has never been drilled. The closest drill hole is the step-out hole #6 drilled in 2025 that returned a continuous intersection of 0.57 g/t Au over 64.0m (210ft) from surface. It was located approximately 136m northwest of the other nearest drilling. Another zone that will be drilled is located to the west and is identified by a 530m long north-south soil anomaly with a high of 1.1 g/t Au.

The 2025 surface drill program at the Baner Property focused on testing for continuity of high-grade and wide low-grade zones of mineralization with a new flatter-dipping interpretation of zones controlled by major structures that acted as conduits for gold bearing fluids. This would result in better continuity of mineralization, the potential resource can be far greater, and the strip ratio in a production scenario would be greatly decreased. The Company is targeting high grade mineralization that is amenable to open pit, heap-leach development.

Exploration Target

Results from the recent 2025 drilling and previous drilling and exploration have supported the initial exploration target at the Baner Property of approximately 50.3 million to 55.3 million tonnes, at average grades ranging from approximately 0.72 g/t Au to 0.91 g/t Au (the "Exploration Target"). Furthermore, this initial Exploration Target was estimated prior to the receipt of the new assays reported by the Company in March 2026, which represent approximately 30% of the 2025 drill program. The potential quantity and grades of the Exploration Target are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain whether further exploration will result in the target being delineated as a mineral resource. The Exploration Target does not represent a mineral resource estimate and has not been prepared in accordance with NI 43-101 mineral resource categories. See "Basis for Initial Exploration Target" below for additional information.

Basis for Initial Exploration Target

This initial Exploration Target was estimated before the new assays reported by the Company in March 2026 were received. It is limited to 1,000m for the Main Zone (plus 500m at Baner Mine trend), and 370m for the NW Zone within 1,370m of the Orogrande structure. The initial Exploration Target excludes the adjacent soil anomalies along strike, which indicate significant room to grow. This preliminary target also excludes other targets on the Baner Property that have overlapping geophysical magnetic and conductor/soil/structural anomalies similar to where the drilling has taken place to date. The anomalous soils extend another 600m in the immediate area, while other soil anomalies suggest a further 2,200m - if drilling in those areas intersects similar criteria, the Exploration Target would increase.

The conceptual volumetric calculations are derived from sectional interpretation and geological modelling. The geological information was collected from a total of 46 drill holes for 10,459m drilled over 2.3 kilometers of strike by Legacy Gold in 2025 (RC) and Idaho Champion (core) in 2018 and 2020.

The gold grade range of the Exploration Target has been calculated from the significant number of drill intercepts returned from the 46 holes completed to date. There are 114 intersections which are above 0.2 g/t cut-off. A minimum width of 5m was used (5m benches). The volume range (tonnages) of the Exploration Target is defined by the drilling completed combined with the evidence up-dip given by similar grade soils to where drilling has taken place.

Intersections were weighted averaged for each of 10 sections, with strike lengths calculated from mid-point to midpoint between sections. There is an average of 3.8 zones per section. The dip lengths were measured up the hill where gold-in-soils suggests gold in the underlying rock. This evidence was proven in 2025 at the only set-up drilled up-hill (with gold intersections at surface and all the way down dip for at least 290m). Several smaller sections were created where RC returned significantly wider intersections but at lower grade to core drilling. The 10 sections average 230m in dip length. True widths were used where the interpretation suggested an obvious change was required- most drilling is thought to be close to true width otherwise. The weighted average sectional grade gives 0.72 g/t, with the two highest being 1.51 g/t and 1.07 g/t.

Using a simple weighted average of all 114 intersections gives 0.91 g/t over 12.8m. An assumed bulk density was used of 2.73 t/m3- consistent with quartzite-hosted gold systems. Initial metallurgical cyanide leach testing gave 87.1%-93.2%; at 4km north, Bema undertook open pit mining and heap leaching (fully permitted) at Buffalo Gulch in the early 1990s which was 95% permitted again in 2023 by Endomines. The Company cautions that mineralization and metallurgical results at Buffalo Gulch may not be indicative of mineralization or metallurgical results at the Baner Property.

The Company intends to conduct additional drilling and technical studies to evaluate whether sufficient data may be obtained to support a future mineral resource estimate.

Geology and Mineralization

The belt of mineralization that traces through the Elk City and Orogrande mining districts is known as the Orogrande Shear Zone, and is estimated to be between 100-200m wide, with a general NNE trend. Gold mineralization occurs along this zone in numerous prospects and small historic mines. Most of the mineralization appears to be along Riedel shear structures that cross over between two bounding major north-south structures along the Orogrande Shear Zone. In general, higher grade historical mining was undertaken on narrow zones of strong sericite-silica-carbonate alteration and quartz veins. Intrusion-related structurally controlled mineralization has been suggested previously. At the Property, the predominant host rock is quartzite, with some biotite gneiss also present.

Table 1: 2026 Baner Drill Program - LG26-004 Core Assay Results

Notes: NS= not sampled; Composite intersections are calculated using a 0.2 g/t cutoff for gold with 10m internal dilution. True widths are unknown until zone dips are proven.

Table 2: Drill Hole Coordinates

Review by Qualified Person, Quality Control and Data Verification

Mr. Mike Sutton, P.Geo., Director and VP of Exploration of the Company, is the Qualified Person, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Baner Property or any underlying property agreements.

RC Drilling/Lab

RC drilling is by Earth Drilling (Harris Drilling) which uses a hammer and at depth below groundwater level a tricone bit is sometimes used. RC drilling was done wet, with water actively pumped down the hole, mixing with pulverized sample, and coming through the cyclone to an 8-compartment rotary fan wet splitter. The sample is taken continuously and sent through a sample splitter with a second splitter on the outlet so that two bags are filled simultaneously. Each assay sample is for a 1.52m (5ft) interval. The bags are labeled with the Legacy hole number and a footage that is the interval which they are taken from. At the end of each ten foot run the drill pipe and the splitter are cleaned or if there is an observed color change in the rock coming up, it is cleaned. Chips were collected from the splitter reject and put into chip trays for reference. Bags are stored on the pad until the hole is finished, and then brought to the laydown yard for sorting and packaging to go to the assay lab. Skyline Assayers & Laboratories is a long-standing, independent laboratory at 7960 South Kolb Road, Tucson, Arizona, specializing in assaying and testing for the mining industry, with a history dating back to the 1880s. They are accredited to ISO 9001 and ISO 17025 standards.

Core Drilling/Lab

Core is sent to the Scout Drilling LLC prep-lab in Coeur d'Alene, Idaho, USA where it is split, with half core being crushed to appropriate size for shipment to the Paragon Geochemical lab in Reno, Nevada. All core samples are sealed at the core processing facility and shipped directly to the lab. All samples are assayed for gold by PhotonAssay methods. The lab has ISO/IEC 17025:2017 accreditation. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments. Duplicates were prepared on-site (Scout) with a riffle splitter. Standards, blanks and duplicates are inserted at approximately one per 15 samples. Referee sampling will be done for 5% of samples at various grade increments (and including all higher-grade assays) by fire assay at a second lab.

About Legacy Gold Mines Ltd.

The Company is a Canadian-based gold exploration and development company listed on the TSX Venture Exchange under the symbol "LEGY". The Company holds an option to acquire a 100% undivided interest in the mineral claims comprising the Baner Gold Mine Property located in Idaho County, Idaho, USA.

The Baner Gold Mine Property sits within the historic Orogrande Gold Mining District that hosts numerous gold deposits and gold mines along geologic structures that have hosted gold production since Idaho's first gold rush in the late 1800s.

Additional information about the Company and the Baner Property is available on SEDAR+ at www.sedarplus.ca under the Company's profile, including a technical report titled "NI 43-101 Technical Report on the Baner Project, Idaho County, Idaho, USA", dated effective August 1, 2024, prepared by Steven A. Osterberg, Ph.D., P.G.

For further information, please contact:

Legacy Gold Mines Ltd.

Brian Hinchcliffe, Executive Chairman and Chief Executive Officer

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, the timing, size, scope, sequencing, allocation between core and RC drilling, modification and completion of any exploration, drilling and work programs on the Baner Property, including the number of holes and total footage ultimately completed, the expected timing of delivery and installation of the replacement engine for the RC rig, the timing of resumption of RC drilling and the expected duration of Phase 2 RC drilling, estimates of mineralization from drilling, sampling and geophysical surveys, geological information projected from drilling and sampling results and the potential quantities and grades of the target zones, the Exploration Target, the potential for the Exploration Target to be further delineated or advanced to a mineral resource estimate, the potential suitability of the Baner Property for future open-pit, heap-leach development, future development or production scenarios, the potential for mineralization and/or mineral resources and reserves, and statements regarding the plans, intentions, beliefs, and current expectations of the Baner Property and the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the continued availability of, and compliance with, required permits and approvals, seasonal and weather-related constraints, access to drill sites, drilling productivity and contractor performance, equipment availability and mechanical reliability, the timely availability, delivery and installation of replacement equipment, including the RC rig engine, the performance of the RC rig following installation, geological and assay results obtained as the program progresses, the Company's ongoing evaluation and prioritization of drill targets, the availability of sufficient capital to complete the program as currently contemplated, the state of the economy generally and capital markets in particular, as well as those risk factors discussed in the Filing Statement of the Company dated effective September 19, 2024, or referred to in the Company's Management's Discussion and Analysis for the period ended June 30, 2026 and the year ended December 31, 2025, available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Figure 1: Plan View - Legacy Gold's 2025 and 2026 Baner Drill Results to Date

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Figure 2: Cross Section - approximate West - East section, looking northward at ~340° - LG26-004

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