Mr. Guy Morissette reports

BULLION GOLD ACQUIRES 100% OF THE TERRAGOLD PROJECT AND CONSOLIDATES A STRATEGIC GOLD ASSET

Bullion Gold Resources Corp. has signed an amendment to the original acquisition agreements for the Transterre and Transterre-Ouest properties, now unified under the name Terragold project.

A streamlined transaction for increased value

To finalize the complete (100 per cent) acquisition of Terragold, the company will issue a total of 3.5 million common shares. This revised agreement allows Bullion Gold to eliminate its future payment obligations or completion milestones set out in the initial agreement, thereby simplifying its capital structure while taking full control of a promising asset.

Located in a highly prospective geological sector, the Terragold project represents another key piece of Bullion Gold's growth strategy. By consolidating the Transterre and Transterre-Ouest blocks, the company optimizes its exploration and development capacity across the entire structure.

"This acquisition secures full ownership of Terragold for consideration solely in shares. We are thus preserving our cash while providing our shareholders with maximum exposure to the potential of this additional gold project," stated Guy Morissette, chief executive officer of the company.

A new interpretation

The decision to consolidate the asset at 100 per cent is based on an in-depth compilation of historical work which revealed that the drilling carried out by Kerr Addison in 1984 (GM 40993) was mislocated in government databases (SIGEOM).

• The discrepancy: Kerr Addison's drill holes are located approximately 500 metres farther east than what was recorded on the SIGEOM map.
• Data rehabilitation: At the time, Kerr Addison's lower-grade results had cast doubt on the reliability of the high historical grades reported by the company Transterre. The repositioning of the drill holes within the main zone appears to support this hypothesis.
• However, the comparison of low-grade results between the two companies in the same drilling section (for example, 0.74 gram per tonne Au (gold) over 14.77 metres for Kerr versus one g/t Au over 10.6 m for Transterre) demonstrates notable consistency in low grades.

The company has therefore decided not to consider the high-grade historical results mentioned in Transterre's historical reports, but to stick solely to the lower-grade results, which seem to better correspond to the results from Kerr Addison and Groupe Minier Sullivan.

"This project remains interesting nonetheless for its potential as a low-grade, open-pit deposit. The gold corridor was intersected over more than 1.2 km in the Transterre zone and extends for approximately 1 km towards the Candore showing, located in the eastern part of the Terragold project. Today, with a value of over $140 (U.S.) per gram of gold, this makes the concept of a low-grade gold deposit exploitable by open pit more attractive. As an example, low-grade deposits such as Cote Lake (Iamgold) or Detour Lake (Agnico-Eagle) have become world-class gold projects," highlighted the company's chief executive officer, Guy Morissette.

Location and project description

The Terragold project consists of 36 mining claims (approximately 2,060 hectares) located 12 kilometres south-southeast of Senneterre, in Abitibi. The site is accessible year-round via secondary roads and logging paths.

Terragold project

The main Transterre gold showing was discovered in the early 1960s by prospector Amede Jolin. Historical drilling on the Terragold project by Transterre Explorations, Groupe Minier Sullivan, Senneterre-Goldfield, Kerr Addison and Candore Exploration suggests a low-grade gold corridor over more than 2.2 km. Everything remains open both laterally and at depth.

• The gold showing: After a summary stripping of the main zone, Transterre geologist J.J. Harris proceeded with an initial surface sampling. With the results demonstrating significant gold presence (GM 13299), Transterre acquired the property in 1963 and carried out an extensive series of surface works as well as a vast drilling program (GM 14364 and GM 16327), totalling approximately 11,000 metres across 80 drill holes. These ranged from 25 metres to nearly 250 metres in vertical depth.
• Main zone: A 300-metre-long gold lens that has never been tested at depth since 1965.
• East extension: Drilling by Senneterre-Goldfield (3.16 g/t Au over 2.89 m -- GM 15746) and Candore Exploration confirms the continuity of the gold system toward the east.
• West extension: In 1982, three short drill holes by Groupe Minier Sullivan (350 metres total) intersected, in the western extension, the same mineralized zones identified by Transterre, thus confirming the continuity of the system. The three holes placed to verify certain historical results yielded respectively 1.01 g/t Au over 5.43 m and 1.35 g/t Au over 4.85 m, 1.23 g/t Au over 13.2 m, including 2.03 g/t Au over 6.30 metres, 0.68 g/t Au over 20.60 metres and 1.05 g/t Au over 6.30 m (GM 39890). Descriptions also mention the presence of several quartz porphyry dikes and shear zones. Transterre drill holes J-33 and J-39, drilled on the same section, had revealed grades of 4.26 and 1.16 g/t Au over respective widths of 3.65 and 7.6 metres.
• Historical drilling has also highlighted a low-grade gold corridor over more than 2.2 km, notably including quartz porphyry dikes reaching thicknesses of over 35 metres, mineralized shear zones, and contact zones between the dikes and volcanics. These same data indicate the presence of several significant gold zones that have never been subject to systematic follow-up with current technologies.
• Analysis of historical data led to the conclusion that 70 per cent of the samples taken in the porphyry yielded gold grades higher than 0.3 g/t Au. The weighted average of analyses between 0.3 and 3.25 g/t Au, representing 60 per cent of samples taken in the porphyry, gives an average grade of nearly 0.9 g/t Au.
• In 1964, approximately 450 metres east of the main zone, Senneterre-Goldfield completed four short drill holes totalling 530 metres. Drill holes S-101 and S-102 respectively yielded 3.16 g/t Au over 2.89 metres and 1.26 g/t Au over 4.92 metres, demonstrating gold continuity in the eastern extension. Drill logs also mention the presence of sheared zones and several quartz porphyry dikes. The company also notes that less than 50 per cent of the recovered core was analyzed despite the presence of several potentially interesting zones described in the report.
• Farther east, approximately 1.2 km from the main zone, Candore Exploration completed 16 drill holes totalling 2,500 metres (GM 14465) and intersected several significant gold values. The eastern extension of the main zone remains poorly tested, and an examination of the logs also indicates that the drill cores were not systematically analyzed.

Correction

In the press release dated Nov. 26, 2025, an error occurred regarding the acquisition agreement (100 per cent) for the Candore property, located in the eastern extension of the Terragold project. The mentioned acquisition cost should have read as 50,000 common shares instead of $50,000 in cash.

Qualified person

Scientific and technical information presented in this release has been reviewed and approved by Gilles Laverdiere, PGeo. Mr. Laverdiere is a geologist, chairman of the board of Bullion Gold and a qualified person as defined by National Instrument 43-101 on Standards of Disclosure for Mineral Projects.

About Bullion Gold Resources Corp.

Bullion Gold Resources is a junior mining exploration company operating primarily in Quebec, specifically in the Abitibi and James Bay mining regions. The company holds a 100-per-cent interest in the Bousquet (Au), Cadillac-Extension (Langlade prospect -- volcanogenic massive sulphide) and Bodo (polymetallic) projects.

The Bousquet project has been optioned by the Australian company Olympio Metals (Oly), which can acquire up to 80 per cent of the gold project for $1.25-million in cash and shares, plus $2-million in exploration work. Bullion would then retain an undivided 20-per-cent interest in the project. To date, Olympio has paid $300,000 in cash and shares and has invested over $1.2-million in the Bousquet project.

The Langlade project (72 claims -- 4,127 ha) is a VMS project in development. This project is open both laterally and at depth. A drilling program is scheduled to begin in February on this project.

The Bodo project (761 claims -- 410 square km) is an early stage exploration project. Anomalous and indicative occurrences of critical and strategic minerals (Au, Ag, Cu, Zn, Li, Pb, Co, Mn) were recorded across the entire project in 2024 and 2025. The main showings -- Rivon Lake, Canico, Lice, Tichegami and Didi -- present polymetallic, VMS and IOC potential. This project will be subject to further exploration work in 2026.

We seek Safe Harbor.