North Peak Resources Ltd. (TSX-V: NPR) (OTCQB: NPRLF) announces that it has begun investigations into the economic potential of the historic dumps within the Plan of Operations (PoO) of the Prospect Mountain Mine complex.

The main dump, which sits in front of the main Diamond tunnel portal entrance is estimated to contain between 210,000-230,000 mt of material. Historical investigations from 2008 & 2010 included volume assessments, agitated leach and bulk density test work, have indicated that the material is fully oxidized and readily leachable with gold recoveries between 75-85%. Composite metallurgical samples from the various reports had feed grades averaging from a low of 0.76 g/t Au, 27.5 /t Ag to a high of 3.19 g/t, 34.46 g/t Ag (see the Company’s Technical Report (described below) at pp. 42-44). The potential quantity and grade of the dump is conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

North Peak will be initiating an aircore drill program on the dump to better characterize the grade distribution across the dump, which is expected to start in mid-September. A composite bulk sample will be sent to McLelland laboratories for metallurgical test work including column leach testing to allow a fuller investigation of the potential of the dumps for toll leach treatment offsite, which will take several months.

“The Diamond Tunnel dump represents a potentially valuable asset to the Company, particularly given the current gold prices. If the test work is successful, and other key elements are in place, it could give the Company a revenue stream to offset future exploration expenses whilst the Company follows up on the excellent drill results from the 2024 drilling campaign and continues to explore and expand the potential of Prospect Mountain”, commented Rupert Williams, CEO.

East Side of Prospect Mountain: Main Diamond Mine portal entrance and dumps

Review by Qualified Person, Quality Control and Reports

Mr. David Pym, CGeol., Consulting Geologist for the Company, is the Qualified Person (QP), 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 Property or any underlying property agreements.

The QP has not independently verified the data in the underlying historical reports referenced in this news release as the original samples and assay certificates are not available. In the QP’s opinion, the metallurgical test work was carried out by reputable accredited laboratories and the results are largely in agreeance, giving reasonable confidence in the historical data.

About North Peak

The Company is a Canadian based gold exploration and development company listed on the TSX Venture Exchange under the symbol “NPR” and the OTCQB under the symbol “NPRLF”. Launched by the founding team behind both Kirkland Lake Gold and Rupert Resources, the team has a strong track record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.

North Peak’s flagship property is the Prospect Mountain Mine complex which lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2,000ft) below the top of the ridge line.

A Plan of Operations is in place which covers part of the Property and entitles an operator to pursue surface exploration (totaling 189 acres), underground mining of up to 365,000 tons per annum and certain infrastructural works. A more complete description of the Property’s geology and mineralization, including at the Wabash area, can be found in the NI 43-101 Technical Report (the “Technical Report”) on the Prospect Mountain Property, Eureka County, Nevada, USA dated and with an effective date April 10, 2023, prepared by David Pym (Msc), CGeol. of LTI Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting Ltd., which has been filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company’s website.