Vancouver, British Columbia--(Newsfile Corp. - November 5, 2025) - Golden Pursuit Resources Ltd. (TSXV: GDP) is pleased to announce the discovery of two new targets during its 2025 exploration program on its Myrt Lake and Kidney Pond properties (Figure 1) located in the high-grade Gordon Lake gold mining district of Canada's Northwest Territories.
This news release announces the new assay results submitted with the 2025 Myrt Lake and Kidney Pond Assessment Reports, which fulfill the mandatory requirements for maintaining our federal and territorial claims and leases until 2033.
The new results reported hereunder reinforce the high-grade gold potential and suggest polymetallic mineralization at the Gordon Lake mining district.
The historical assay results (Caelles, 1984 and 1985) and historical resource estimates (Knutsen, 1987) referenced in this press release were calculated prior to NI 43-101 and CIM guidelines and modern quality assurance/quality control (QA/QC) protocols. The Company has not completed sufficient work to verify the historical data underlying the estimate, and the estimate should not be relied upon as a current mineral resource. In order to upgrade and verify the historical estimate, the Company anticipates that a program of data validation and confirmatory exploration will be required, including the compilation and review of historical drill hole data, verification of collar locations and surveys, re-logging and re-sampling of available core, implementation of a modern QA/QC program, and the completion of confirmatory drilling. Additional metallurgical test work may also be necessary to demonstrate reasonable prospects for eventual economic extraction. A new mineral resource estimate prepared in accordance with NI 43-101 and CIM standards would be required before the historical estimate can be considered current.
Highlights
- New high-grade results indicate two new mineralized zones at Myrt Lake: Gold assay results from samples D6-2 (25.2 g/t Au, 133 g/t Ag, and 3.61% Pb) and D10 (22.7 g/t Au and 36.2 g/t Ag) indicate the discovery of two new mineralized zones (Figure 2). This discovered area lies approximately 2 km west of the historic mine workings, with the samples aligning in a NW/SE orientation and taken from gossanous outcropping rocks approximately 900 meters apart. It should be noted that by their nature, surface samples are selective samples and may not represent the true value of underlying mineralization. Further work, including geophysics and drilling, is planned.
At Myrt Lake, two styles of mineralization were identified: 1) a more abundant arsenopyrite +/- pyrite and galena style (e.g., the two new discoveries at the West Zone, i.e. D6 and D10) and 2) a locally observed style hosting pyrrhotite, chalcopyrite, and sphalerite (e.g., near the former mine area).
- New high-grade results indicate a new mineralized zone at Kidney Pond: A new showing eastward of Kidney Pond identified this year (sample 308004 - Figure 3) suggests polymetallic mineralization associated with higher copper concentration (1.51% Cu), silver (18.65 g/t Ag), and gold (16.05 g/t Au). Following detailed mapping and sampling of this target is highly recommended.
Figure 1. Myrt Lake and Kidney Pond Properties Location.
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Figure 2. 2025 Sampling at Myrt Lake Property. Spatial distribution of interpreted structures, historic drillholes and showings, and new structural data and assay results. West Myrt area: Dome Number 6 (D6-2, below) showing 25.2 g/t Au, and Dome Number 10 (D-10, above) showing 22.7 g/t Au.
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Figure 3. 2025 Sampling at Kidney Pond Property. Highlighted red circle indicates the new mineralization target.
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Exploration History
The Gordon Lake Project has an extensive exploration history dating back to the late 1930's. There are multiple gold showings within the Project boundary that have had varying degrees of exploration and underground development. The last period of sustained exploration activity in the Kidney Pond and Lynk areas was in the 1980's. In 2020, Golden Pursuit Resources Ltd. acquired and consolidated all the properties in the Gordon Lake Project. Exploration permits for the Company's properties are approved through 2030, including First Nations approvals and permits. The Company looks forward to the construction of an all-weather road connecting Gordon Lake to Tibbit Lake, approximately 30 km long, which will dramatically reduce the Company's exploration and drilling costs.
Golden Pursuit has undertaken several significant exploration programs in the area, including LiDAR surveying, litho-structural mapping and rock sampling, geophysical IP and magnetic surveying, and 3D geological modelling.
Golden Pursuit Resources has compiled all historical data for Gordon Lake, as well as recently acquired new data (2020-2025). The Company issued NI-43 reports in 2021 and 2022 and issued recent assessment reports in 2025.
| MYRT LAKE |
| 1938-1939 (Dome Mines Limited): Extensive work included trenching, diamond drilling, and bulk sampling. |
| 1959 (Sam Otto): Staked the "Myrt" claims. |
| 1959 (Walter Temawski): Staked the "WT" claim group. |
| 1938-1974 (Precambrian Mining Services): Surface rock trenching (736 feet in 33 trenches), surface diamond drilling (8226 feet in 65 holes), surface geological mapping. |
| 1974 (Cameron Holdings Limited): Decline of 466 feet, and 405 feet of drifting and crosscutting along the #1 vein. 3,650 feet of underground drilling in 15 drillholes. A total of 3,000 tons of ore grading 0.11oz/t was mined and stockpiled. Ore reserves were estimated to be 25,275 tons grading 0.22 oz Au/ton down to 125'. |
| 1984 (Ryan Energy): 10 drillholes (5,585 feet) verified that the #1 and #3 veins continue to the northwest and at depth below 500 feet. |
| 1987-1989 (William Knutsen): Acquired the property and reported the rehabilitation of the decline. Knutsen (1987) calculated a minable resource to a depth of 110' of 17,510 tons grading 0.35 oz Au/ton, containing 6,132 oz Au. *Reported resources presented here are historical, non-compliant with NI-43 guidelines, and are not being used as current. |
| 1992 (William Knutsen): Processed 2,152 tons of gold at Yellowknife Giant Mine, with 732 oz Au recovered at a grade of 0.36 oz/t and 86% recovery rate. |
| 2020 (Golden Pursuit Resources Ltd.): Acquired the property. |
| 2021 (Golden Pursuit Resources Ltd.): LiDAR survey, prospecting, and rock sampling (Vivian and Bocking, 2022). |
KIDNEY POND - SENTINEL LAKE AREA
Kidney Pond (No. 1), No. 2, No. 3, No. 4, Bulge, Viv-8, and Viv-26 Zones |
| 1937-1938 (Borealis Syndicate): Initial gold discovery. Prospecting, trenching, stripping, and sampling of gold-bearing veins and zones, and drilling of "a few" X-ray diamond drill holes (Love, 1984; Caelles, 1987a; Glanville, 1988) |
| 1944 (Lynk Yellowknife Gold Mines): 2600 feet of drilling in 18 holes (Glanville, 1988). |
1983 (Giant Bay Resources Ltd.):
2795 feet of BQ drilling in 9 holes near Kidney Pond.
Prospecting and 254 plugger holes in the Kidney Pond - Knight Bay area (Humphries, 1983; Glanville, 1988). |
1984 (Giant Bay Resources Ltd.): Ground magnetometer surveying, grid mapping, trenching, and trench sampling.
No. 1 (Kidney Pond) Zone: 14667 feet of BQ drilling in 25 holes.
No. 2 Zone: 2712 feet of BQ drilling in 8 holes; 1350 feet of percussion drilling in 21 holes.
No. 3 Zone: 432 feet of BQ drilling; 280 feet of percussion drilling in 8 holes.
No. 4 Zone: 1511 of BQ drilling in 7 holes.
Bulge Zone: 718 feet of BQ drilling in 4 holes.
Viv 8 Zone: 117 feet of BQ core in 1 hole.
Viv 15 Zone: 602 feet of BQ core in 3 holes (Caelles, 1984). |
1985 (Giant Bay Resources Ltd.): Magnetometer and VLF surveys, geological mapping, and prospecting.
No. 1 (Kidney Pond) Zone: 1219 feet of BQ drilling in 5 holes; 1787 feet of NQ drilling in 7 holes.
No. 4 Zone: 331 feet of NQ drilling in 2 holes.
T-32 Zone: 324 feet of NQ drilling in 2 holes.
T-15 Zone: 756 feet of NQ core in 4 holes (Caelles, 1985; Fisher, 1985). |
1986 (Giant Bay Resources Ltd.):
No. 1 (Kidney Pond) Zone (underground): Excavated 1600 feet of decline (ramp), 540 feet of drift at the 200-foot level and 540 feet in two raises; 6042 feet of underground diamond in 70 holes on 13 sections.
No. 1 (Kidney Pond) Zone (surface): 2598 feet of NQ drilling in three holes.
No. 1, No. 2, No. 3, and No. 4 zones: Detailed mapping of mineralized areas (Burson and Caelles, 1986; Glanville, 1988). |
1987 (Giant Bay Resources Ltd.):
No. 1 (Kidney Pond) Zone (underground):
Dewatering.
Excavated 440 feet of drifts and 289 feet in three raises.
No. 1 (Kidney Pond) Zone (surface):
1662 feet of NQ diamond drilling in six holes (Caelles, 1987b). |
| 2021 (Golden Pursuit Resources Ltd.): Line cutting, prospecting, rock sampling, LiDAR survey (Vivian and Bocking, 2022). |
| 2022 (Golden Pursuit Resources Ltd.): Induced polarization survey, ground magnetic survey (Vivian and Bocking, 2022; Dziuba, 2022). |
| 2023 (Golden Pursuit Resources Ltd.): Compilation of historic work, geological mapping, soil sampling, 3D modelling (Prior et al., 2023; Prior and Schmidt, 2023). |
Table 1. Exploration history of significant mineral occurrences in the Gordon Lake gold mining district. Myrt Lake and Kidney Pond Properties.
References
- Burson, M.J. and Caelles, J.C., 1986. 1986 Underground Program and Ore Reserves for the No. 1 Zone of the Gordon Lake Project. Giant Bay Resources Ltd., December 1986. (N.W.T. Geoscience Office Assessment Report #082129).
- Caelles, J.C., 1984. Geological report on the 1984 drill exploration program on the Giant Bay Resources Ltd. MAHE, AD, POL, AR, BEAR and LYNK claim group.
- Caelles, J.C., 1985a. Geological report on the 1985 drill exploration program on the Giant Bay Resources Ltd. property at Gordon Lake, N.W.T.
- Caelles, J.C., 1985b. 1985 mineral reserve calculation for the No. 1 Zone of the Gordon Lake gold property, Mackenzie Mining District (N.W.T.) Canada.
- Caelles, J.C., 1987. Summary Report on Giant Bay Resources Ltd. - Gordon Lake Property. April 1987.
- Clarke, W.E., 1985. Summary Report Diamond Drill Program 1984 - WT Property. Ryan Energy Corporation Limited, January 1985. (N.W.T. Geoscience Office Assessment Report #15272).
- Knutsen, W. G., 1987. Summary Report and Ore Reserve on the 'WT' Gold Property, Myrt Lake, NWT. Prepared for Westfort Petroleums Ltd. Precambrian Mining Service Ltd.
- Prior, G.; Schmidt, N., 2023. Field Report. Exploration on the Gordon Lake Property. Dahrouge Geological Consulting Ltd.
- Prior, G.; Schmidt, N.; Gorham, J., 2023. Summary Report on the Gordon Lake Property. Including: Burnt Island, Camlaren, H Vein, 31 Vein, May Island, Kidney Pond, Lynk, Murray Lake, Myrt Lake, Storm, Goodrock, and Vaydik mineral occurrences. Northwest Territories, Canada. Dahrouge Geological Consulting Ltd.
- Vivian, G; Bocking, N., 2022. Technical Report. South Gordon Lake Property, Northwest Territories, Canada. Prepared for Golden Pursuit Resources Ltd. Aurora Geosciences.
- Vivian, G, 202 1. Technical Report. South Gordon Lake Property, Northwest Territories, Canada. Prepared for Golden Pursuit Resources Ltd. Aurora Geosciences.
Community Engagement
Golden Pursuit collaborates with First Nations organizations on whose traditional territories its projects are located, as well as with the Government of the Northwest Territories, to advance their strategic interests and discuss opportunities to support community initiatives. The Company looks forward to continuing to work with local and regional First Nations in all its future exploration programs.
About the Gordon Lake Project
The Gordon Lake Project, about 80-90 km northeast of Yellowknife, NWT, covers 6,850 hectares and includes 18 territorial claims, 13 federal claims, and five historic mining leases-all fully owned by Golden Pursuit. The site features multiple gold showings with a history of exploration and mining dating back to 1937 and continuing into the late 1980s. Located in the Slave Structural Province of the Canadian Shield's Archean granite-greenstone craton, the property hosts gold-bearing quartz veins and breccia zones primarily in Burwash Formation metaturbidite rocks of the Yellowknife Supergroup.
About Golden Pursuit Resources
Golden Pursuit Resources focuses on gold exploration and fully owns deposits and prospects in the Northwest Territories, Canada, and Nevada, USA, with only royalty obligations on some purchased claims in the NWT. The Gordon Lake project holds active land and water permits until 2030, supporting exploration and development. The company owns 11 properties with histories of mining and exploration dating back to the 1930s, including five classified as "former producers" by the NWT government. It has conducted extensive work at Gordon Lake since 2021. Further details are available at www.goldenpursuitresources.ca.
Qualified Person
The technical information in this news release has been reviewed and approved by Cleber Peralta, COO and Director of the Company. Cleber Peralta is a Professional Geoscientist (P.Geo.) registered with the Engineers and Geoscientists of British Columbia (EGBC) and a "Qualified Person" with respect to NI 43-101. The QP supervised the 2025 Golden Pursuit's exploration program and participated in the litho-structural mapping and sampling campaigns reported here. The Issuer is not treating the historic estimates as current.
On behalf of the Board of Directors
Brian McClay
Forward-Looking Information
This news release contains forward-looking statements that involve risks, uncertainties, and assumptions that may cause actual results to differ materially. These statements, which may include references to potential mineralization, exploration plans, and engagement with First Nations, are subject to various risks, including exploration risks, regulatory changes, market volatility, environmental factors, and other uncertainties. Readers are cautioned not to place undue reliance on them. Except as required by law, Golden Pursuit assumes no obligation to update forward-looking statements, all of which are qualified by this cautionary note.
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.
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