StrikePoint Gold Inc. (TSX-V:SKP) (OTCQB:STKXF)  is pleased to announce initial results from drilling that took place in the spring of 2025 on its Hercules Gold Project located in Nevada’s prolific Walker Lane.  

The Company completed 7 drillholes totaling approximately 1,400 meters of reverse circulation drilling on the Hercules Gold Project.  StrikePoint is reporting assay results from the first 4 drillholes of the program, with each drillhole returning near surface gold mineralization.  The final 3 drillholes remain queued at the lab and expected to be received shortly.

Hercules Gold Project April 28, 2025, Drill Results

Length reported above is sample length, there is insufficient data to estimate true thickness.

Michael G. Allen, President and CEO of StrikePoint said, “Results received so far show broad zones of near surface gold mineralization on the Hercules Gold Project.  This is in line with our recently announced Exploration Target for the property.  The near surface nature of the mineralization leads the Company to anticipate that Hercules could potentially be an open pit – heap leach type operation.”

For further information on the Exploration Target on the Hercules Gold Project refer to the Company’s March 3, 2025 release.

Figure 1: Hercules Gold Project 2025 Drill Collars

Hercules Gold Project April 28, 2025, Drill Hole Information

Drilling Discussion:

The drillholes released today were drilled into the Hercules target.  Near surface gold and silver was encountered in all holes.  Comparing cyanide soluble gold assays to fire assays showed that cyanide solubility ranged between 89% and 32% on a per hole basis.  As expected, shallower gold intercepts showed higher cyanide solubility than deeper intercepts.  With drilling and subsequent testwork showing abundant near surface cyanide soluble gold, the Company is optimistic of the potential of an open pit heap leach operation at the Hercules Gold Project.

The Company expects the final 3 holes of the 2025 spring drill program to be received shortly.

About Nevada

Nevada is one of the most globally recognized mining jurisdictions in the world, with over 218 million ounces of gold produced to date.  Multiple operators in the state, including Nevada Gold Mines (Barrick/Newmont), Kinross, SSR Mining, McEwan Mining, Integra Resources and Calibre Mining.  Many of the operations are open pit, heap leach operations, producing at similar grades to the Exploration Target defined on the Hercules Gold Project.

About StrikePoint

Headed by CEO Michael G. Allen, StrikePoint is a multi-asset gold exploration company focused on building precious metals resources in the Western United States and in Canada.

Mr. Allen has been working in the Walker Lane for the last 15 years, with multiple transactions completed in that timeframe including the acquisition of the Sterling Gold Project, located near Beatty, Nevada, and the sale of Northern Empire to Coeur Mining for approximately $120 million. The Sterling Gold Project is now part of AnglogGold Ashanti’s “Expanded Silicon” project.  In addition, Mr. Allen was the past President and CEO of Elevation Gold Mining Corporation, which operated Arizona’s largest gold mine.

The Hercules Gold Project features an Exploration Target, as defined by NI 43-101, as follows:

Hercules Gold Project Exploration Target Model *

*  The stated potential quantity and grade is conceptual in nature, and there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.  The Exploration Target Model has not been evaluated for reasonable prospects of eventual economic extraction. The Exploration Target expressed should not be misrepresented or misconstrued as an estimate of a mineral resource or mineral reserve.

The Exploration Target was developed using historical drilling, trenching data, and gold assay results. Mineralization trends were evaluated using Artificial Intelligence to generate a trend model, which informed the construction of grade shells in combination with current geological understanding. These grade shells were used to estimate the distribution of mineralized tonnes and to support the generation of grade-tonnage curves. The Exploration Target and AI generated model will be utilized to guide future drilling in these areas of known mineralization.

The Exploration Target used data from the Sirens, Hercules, Cliffs, Loaves, Lucky Rusty, Rattlesnakes, and Northeast showings on the Hercules Gold Project.  In this area there are a total of 306 historical drillholes yielding a total of 31,776 meters in the drillhole database along with data for 121 surface trenches. The drillhole database contains a total of 18,409 sample interval entries, with the trenches providing another 475 sample entries. A total of 5,620 sample intervals are contained within the mineralization domains utilized for the Exploration Target.

The Management and Board of StrikePoint has strong expertise in exploration, finance and engineering.

StrikePoint is rapidly becoming one of its largest holders of mineral claims with approximately 145 square kilometers of prospective geology under claim, encompassing two district scale projects, the Hercules Gold Project and the Cuprite Gold Project.

In addition, the Company controls two advanced-stage exploration assets in British Columbia’s Golden Triangle: the past-producing high-grade silver Porter-Idaho Project and the high-grade gold Willoughby Project.