Evergold Mobilizes Drill to Golden Lion and Completes MobileMT Airborne Geophysical Survey, Toodoggone District, Northern BC
Highlights:
Drill rig, camp, and crews fully mobilized to Golden Lion property; drilling now underway.
Drilling focused on Golden Lion Main Zone (GL1), where final 2021 holes returned best-ever intercepts - GL21-024 66 m of 1.36 g/t gold and 11 g/t silver and GL21-025 11.3 m of 5.4 g/t gold and 62 g/t silver (see News November 16th, 2021).
Property-scale MobileMT airborne electromagnetic survey completed, totaling 264 line-kilometres.
MobileMT data processing and inversion underway; results to help guide follow-up geochemical, geological and ground geophysical surveys to begin shortly.
President & CEO Alex Walcott will participate in a live webinar hosted by the Ore Group on Tuesday, July 14, 2026.
TORONTO, ON / ACCESS Newswire / July 9, 2026 / Evergold Corp. (TSXV:EVER) ("Evergold" or the "Company") is pleased to report that mobilization to its 100%-owned Golden Lion property ("GL", "Golden Lion" or the "Property"), located in the Toodoggone district of north-central British Columbia, is complete and that diamond drilling is now underway at the GL1 Main Zone.
The Company is also pleased to report the completion of a property-scale MobileMT airborne geophysical survey, flown by Expert Geophysics Limited, covering the full extent of the Property including the recently acquired Copper King inlier claims.
Drilling Underway at GL1
The planned program of approximately 4,000 metres in 12 holes is the first drilling at Golden Lion since 2021, when the final three holes of that campaign returned the best intercepts ever drilled on the Property, including 66 m of 1.36 g/t gold and 11 g/t silver in hole GL21-024 and 11.3 m of 5.4 g/t gold and 62 g/t silver in hole GL21-025 (see news, November 16, 2021).
Drilling will test the GL1 structure beneath peak gold-silver soil geochemical values along a 2 km west-northwest trend, targeting depth extensions of the known mineralization, which has to date been drilled to only 250 metres below surface. The program is being executed under the direction of Project Manager Taylor Quinn, MSc.
CLICK HERE: View Figure 1: Map View of Proposed Drill Holes at Golden Lion
MobileMT Airborne Survey Completed
The MobileMT survey comprised 264 line-kilometres flown at 250 m line spacing and completes modern geophysical coverage of the Property.
MobileMT is a passive, natural-field airborne electromagnetic method that measures ground conductivity across a broad bandwidth, making it well suited to mapping the conductive alteration and sulphide signatures associated with buried porphyry copper-gold systems.
Survey coverage was focused in particular on the northern portion of the Property, host to the Copper King target - a large, coherent copper-gold stream sediment geochemical anomaly corroborated by provincial Regional Geochemical Survey sampling with results in the 90th to 99th percentile for copper in the extensive B.C. database. Limited historical drilling from the 1970s also encountered copper mineralization in a number of ridgetop holes.
Data processing and inversion of the geophysical data is underway, with final products expected next week. The results will be integrated with geological mapping, prospecting, and soil and stream sediment sampling about to commence, with priority targets to be the focus for follow-up ground geophysical surveys (IP/AMT, 12-15 line-km).
Upcoming Live Webinar & Q&A
President & CEO Alex Walcott will participate in a live webinar and question-and-answer session hosted by the Ore Group on Tuesday, July 14, 2026, at 1:00 p.m. EST.
The webinar will provide shareholders and prospective investors with an opportunity to hear directly from management and submit questions regarding the Company's exploration strategy and ongoing activities. Questions may also be submitted in advance by email to info@oregroup.ca.
Interested participants may register in advance by visiting: https://crowdcast.io/c/u2yagb8qgggh
Golden Lion Property Overview
The Golden Lion property, with the recently-acquired Copper King inlying claims, now includes more than 12,500 hectares of mineral tenures. The Golden Lion claim block lies approximately 9 km north of Thesis Gold's road-accessible Ranch property, and 40 km north of the Sturdee River airstrip. Although undocumented exploration dates as far back as the 1930s in this part of the Toodoggone, little systematic exploration was undertaken on the property until Newmont's work between 1982 and 1984 culminated in 2,475 m of diamond drilling.
There was a further hiatus in systematic exploration Evergold's work between 2019 and 2021, which culminated with 4,825 m of drilling. Almost all of the drilling on the Property was focused on the Golden Lion Main zone (GL1), where the Claw Mountain fault, likely a reactivated syn-mineral feature, hosts intermediate sulfidation epithermal mineralization. The GL1 zone is characterized by the presence of high-grade gold-silver intercepts hosted within a broad halo of lower-grade gold-silver values. The structure, although poorly exposed, can be tracked across at least two kilometers at GL1 by anomalous gold-silver soil geochemistry and coincident lower resistivity, imaged by ground DC/IP surveys.
QP Statement
The technical information contained in this news release has been reviewed and approved by C.J. "Charlie" Greig, P.Geo., a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
About Evergold
Evergold Corp. is focused on advancing the Golden Lion project, its 100%-owned, gold-silver (copper) project in northern British Columbia's prolific Toodoggone mining district. At the southern end of the Golden Lion Project, at the GL1 Main Zone, previous drilling by the Company, along with historical work, has outlined a near-surface, intermediate sulfidation epithermal-style gold and silver bearing system with excellent potential for expansion along trend and down dip. The property was last explored by the Company in 2021, when the final three holes yielded some of the most significant gold-silver intercepts ever drilled on the property (see News January 17, 2022). To the north of the GL1 Main Zone, the property also has copper potential that is clearly evident in historical data, and which has been realized recently elsewhere in the district.
On Behalf of the Board of Directors
Alex Walcott, P.Geo
President,CEO & Director
For additional information, please contact:
Alex Walcott, P.Geo
President, CEO & Director
Tel: (604) 891-6200
alex.walcott@evergoldcorp.ca
www.evergoldcorp.ca
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 news release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward- looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks related to the amendment of the size of the Upsized Offering and the completion, terms and expected closing date of the Upsized Offering, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE: Evergold Corp.
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