Mr. Klaus Eckhof reports

DRC GOLD CORP. ENTERS INTO OPTION AGREEMENT TO ACQUIRE INTERESTS IN GIRO GOLDFIELDS

DRC Gold Corp. has entered into an option agreement dated Aug. 25, 2026, with Amani Consulting SARL, Giro Goldfields SARL and Mabanga Mining SARL that supersedes and replaces the binding term sheet among the parties, which the company announced on Feb. 24, 2026, and which was amended as announced on May 21, 2026. Pursuant to the option agreement, DRC Gold has been granted an option to acquire interests in Giro Goldfields from Amani Consulting. Giro Goldfields holds the Giro gold project and is the intended transferee of Permis d'Exploitation 5110 (the Nizi gold project), pursuant to a contrat de cession de permis between Giro Goldfields and the Societe miniere de Kilo-Moto (Sokimo). Amani Consulting holds a 65-per-cent interest in Giro Goldfields and Sokimo holds the remaining 35-per-cent interest in Giro Goldfields.

Klaus Eckhof, chief executive officer of DRC Gold, stated: "We are very pleased that the parties have successfully completed their due diligence and have entered into a detailed option agreement. DRC Gold looks forward to receiving the necessary regulatory and shareholder approvals to acquire an initial 55-per-cent interest in Giro Goldfields. With a historic JORC 2012 indicated and inferred mineral resource estimate of 123.7 million tonnes at 1.03 grams per tonne gold (4.1 million ounces contained) for the Kebigada deposit, which is part of the Giro gold project, highly prospective untested potential at the Nizi gold project, and a strong gold market, we are looking forward to developing these two exciting gold projects, which are located within the world-class Kilo Moto greenstone belt."

"Our intention is to acquire further gold assets in the northeast of the DRC and advance the Giro gold project into production as quickly as possible."

Giro gold project

The Giro gold project comprises two exploitation permits, Permis d'Exploitation (PE) 5046 and PE 5049, that cover a surface area of about 497 square kilometres and lie within the Kilo Moto greenstone belt in the Haute-Uele province in the northeast of the Democratic Republic of the Congo (DRC), about 35 kilometres west of the Kibali mine, a mine which produces more than 600,000 ounces gold per annum. Note that the information disclosed from the Kibali mine is not necessarily indicative to the mineralization on the Giro gold project.

The Giro gold project consists of two main deposits, the Kebigada deposit and the smaller Douze Match deposit, which demonstrate a similar style of mineralization and structural setting as at the Kibali deposit. The Kebigada deposit contains a historic JORC 2012 mineral resource estimate of 69.2 million tonnes at 1.09 grams per tonne gold for 2.44 million ounces (indicated) and 54.4 million tonnes at 0.95 gram per tonne gold for 1.67 million ounces (inferred), for a total of 123.7 million tonnes at 1.03 grams per tonne gold for 4.10 million ounces contained (at a 0.5-gram-per-tonne-gold cut-off grade).

No current mineral resource estimate is disclosed for the Douze Match deposit in this news release.

Please refer to the company's Dec. 8, 2025, news release for a description and maps of the Giro gold project and further information regarding the historic mineral resource estimates and to the disclosure below regarding the historical estimate.

Historical estimate disclosure

The historic estimate is set out in "Mineral Resource Estimate for the Kebigada Deposit, Haut-Uele Province, DRC" by Arnold van der Heyden, MAusIMM (CP Geo), MAIG, reviewed by Luke A. Burlet, MAIG, APEGGA, BCPEG, H&S Consultants Pty. Ltd., dated March 16, 2020, prepared for Amani Gold Ltd. and disclosed in its Australian Securities Exchange announcement of March 19, 2020.

The author did not visit the site, and quality assurance/quality control data and original field records were not independently reviewed. Key uncertainties include the location/orientation of the Kebigada fault and barren dikes, and plus-or-minus-eight-metre discrepancies between collar elevations and topographic data. The estimate is considered relevant to scale and style of mineralization but not reliable for current decision making without further work.

Key parameters:

• 0.5-gram-per-tonne-gold cut-off; recoverable MIK (multiple indicator kriging) estimation; SMU five metres by five metres by five meteres; open pit assumed;
• Dry-tonnage basis; average density approximately 2.81 tonnes per cubic metre (fresh), 1.64 tonnes per cubic metre (saprolite), 1.62 tonnes per cubic metre (laterite);
• Classification by estimation search pass, with indicated restricted to the central deposit area and remaining estimated blocks classified as inferred;
• Based on 243 drill holes totalling 29,358 metres (29 diamond core and 214 reverse circulation), restricted to approximately 300 metres below surface.

These 2012 JORC Code categories are similar in principle to equivalent CIM (Canadian Institute of Mining, Metallurgy and Petroleum) Definition Standards (2014) categories; the qualified person has not confirmed they would be identical if reclassified.

A more recent estimate was referenced in Amani Gold's ASX announcement of March 28, 2023; the issuer could not obtain the underlying report and does not disclose, use or rely on that estimate here.

Upgrading the estimate would likely require infill drilling, independent database and quality assurance/quality control verification, resolution of fault/dike geometry and collar discrepancies, and an updated pit optimization.

The qualified person has not done sufficient work to classify the historic estimate as current, and the company is not treating it as such.

Nizi gold project

The Nizi gold project consists of exploitation licence PE 5110, which covers 113 square kilometres and is located in the Ituri district of the Kilo-Moto goldfields, approximately 26.5 kilometres north-northeast of the regional centre of Bunia and 6.5 kilometres north of the nearest village of Nizi.

The Nizi gold project includes the King Leopold gold mine, which is an abandoned underground gold operation with a focus on up to seven known major quartz gold veins within a mafic to intermediate volcanic setting on the faulted contact of a dioritic intrusive. The mine was developed underground over a strike of approximately 600 metres and to a depth of approximately 160 metres to 180 metres and operated intermittently for approximately 12 years between 1913 and 1931. Reports indicate that only two of the known major quartz gold veins have been previously mined. In addition, several other gold prospects have been identified at the project, including the Baluma gold oxide prospect.

Intermittent and limited exploration of the licence area has been conducted since 1931 by Sokimo and international mining company Ashanti Goldfields Ltd., in the form of an aerial geophysics program of the joint venture licence area. Sokimo, however, secured return of the area under licence PE5110. DRC Gold considers the project to be prospective for significant high-grade and low-grade gold mineralization.

Option agreement

Pursuant to the option agreement, DRC Gold has been granted a first option to acquire from Amani Consulting a 55-per-cent registered and beneficial interest in Giro Goldfields by: (i) issuing an initial 25 million common shares in the capital of DRC Gold, which shares were issued to Vertex Wealth Ltd. as announced on May 21, 2026; and (ii) issuing an additional 325 million shares to Amani Consulting or its nominee by the later of: (a) the date that the option agreement and the transactions contemplated therein have been approved by DRC Gold's shareholders; and (b) the date that the CSE provides its acceptance of the option agreement and the transactions contemplated therein, provided that such date shall be no later than 12 months from the date of the option agreement. Amani Consulting, Giro Goldfields and Mabanga are all arm's length to DRC Gold. Transfer of the 55-per-cent registered and beneficial interest in Giro Goldfields will need to comply with all applicable requirements set out in the OHADA Uniform Act on Commercial Companies (AUSCGIE), which requires: (i) approval from Giro Goldfields' shareholders including Sokimo; (ii) amendment of Giro Goldfields' articles of association; (iii) notarial formalities; and (iv) filing with the Trade and Personal Property Credit Register (RCCM).

All shares that have been and that may be issued pursuant to the option agreement as well as any private placement shares that may be issued prior to the exercise in full or termination of the option agreement, may not be voted in favour of this transaction.

Upon the full exercise of the first option through the issuance of the additional 325 million shares, this transaction will constitute a change of control as defined in Canadian Securities Exchange Policy 1.3(2) as well as a fundamental change subject to CSE Policy 8, and, at that time, a trading halt will be initiated. The trading halt will remain in effect until after the closing of the transaction. All shares issued and to be issued pursuant to the option agreement will be subject to an escrow agreement as required by CSE policies and Canadian National Policy 46-201.

Mabanga previously agreed to lend and lent funds to Sokimo and upon the exercise of the first option by DRC Gold, DRC Gold agrees to: (i) assume Mabanga's obligations under the Sokimo loan to advance any additional funds to Sokimo pursuant to the terms of the Sokimo loan provided that Mabanga assigns, to DRC Gold, all of Mabanga's rights pursuant to the agreement for the Sokimo loan.

On closing of the option agreement, Amani Consulting and/or Mabanga have the right to appoint a majority of directors to the DRC Gold board of directors.

Pursuant to the option agreement, DRC Gold has been granted certain additional rights to increase its interest in Giro Goldfields, subject to the terms of the agreement.

Closing of the transactions set out in the option agreement will be subject to approval by DRC Gold's shareholders and acceptance by the CSE.

Qualified person statement

Dylan le Roux, BSc (honours) in Earth science, is an independent consultant of DRC Gold and a qualified geologist. Mr. le Roux is a registered professional natural scientist (geological science) with the South African Council for Natural Scientific Professions (SACNASP registration No. 155814). Mr. le Roux is a qualified person under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.

About DRC Gold Corp.

DRC Gold is a junior exploration company. DRC Gold's management and directors possess over 50 years of collective industry experience and have been very successful in the areas of exploration, financing and developing major mines throughout the world, with a focus on Africa.

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