Mr. Brian Skanderbeg reports

GFG ANNOUNCES BARRICK'S PROPOSED INITIAL EXPLORATION PROGRAM

GFG Resources Inc. has outlined Barrick Gold Corp.'s planned 2026/2027 exploration activities at the Pen gold project, located southwest of Timmins, Ont. Following an initial $500,000 (U.S.) exploration program in 2026, Barrick is planning an expanded exploration program in 2027, combining property-wide geophysics, systematic till sampling and geological mapping to prioritize targets for initial diamond drilling, currently anticipated for the fourth quarter of 2027.

Under the earn-in agreement announced on Aug. 25, 2026, with GFG, Barrick is financing and operating the exploration programs at Pen. Within the first three years, Barrick has a firm commitment to spend at least $4-million, including a minimum of 5,000 metres of diamond drilling before the third anniversary (see news release "GFG and Barrick Sign Strategic Earn-In to Accelerate Exploration at the Pen Gold Project").

Program highlights:

• Expanded exploration program planned for 2027, building on the initial $500,000 (U.S.) investment in 2026 and focused on systematic target generation and advancement toward initial diamond drilling;
• Property-wide airborne gravity survey planned for Q4 2026 to support geological and structural interpretation;
• An aggressive base-of-till (BOT) drill program of approximately 240 drill holes is proposed for Q1 2027 to define and refine anomalies and vector to their bedrock sources;
• Geological mapping and rock sampling planned for Q2/Q3 2027, supported by continuing data integration and target evaluation;
• Diamond drilling is tentatively planned for Q4 2027, with potential to continue into the first half of 2028; the start date remains tentative.

"Barrick's proposed program brings significant funding and technical expertise to the next phase of exploration at Pen," stated Brian Skanderbeg, president and chief executive officer of GFG. "The scale of the planned BOT till program, combined with property-wide geophysics and detailed mapping, will help refine and vector to the source of existing anomalies as well as generate new target areas, with the priority targets advancing toward diamond drilling. This provides our shareholders a compelling opportunity to participate in discovery at Pen while GFG focuses our own capital on growing Aljo and driving for discovery on a spectrum of targets across the Goldarm property."

Building the geological framework in 2026

Barrick's initial work program includes reviewing and validating existing data, reinterpreting geology, and undertaking field mapping and rock sampling. Initial mapping and rock sampling programs were completed in September and October. A total of approximately 130 rock samples were collected and will be analyzed and incorporated into Barrick's reinterpreted geological model. Community introductions and permitting activities are also part of the initial work programs.

During the fourth quarter of 2026, Barrick has proposed to complete a fixed-wing airborne gravity survey over the full property, using north-south flight lines spaced approximately 200 metres apart. The results will support interpretation of the underlying geological architecture and structures and guide target generation beneath cover.

Systematic till sampling and target development in 2027

The proposed 2027 program includes approximately 190 BOT holes in priority areas along with approximately 50 BOT infill holes to follow up on historical results. This work is intended to refine the distribution of gold anomalies and vector toward potential bedrock sources.

Further mapping and rock sampling are planned for the second and third quarters of 2027. Barrick intends to integrate these observations with geophysical, till geochemistry and existing drilling results to produce updated geological and structural interpretations. This work will be the basis of prioritizing targets for drilling.

Initial diamond drilling is currently planned for the fourth quarter of 2027. The scope and timing of future exploration activities remain subject to confirmation and may be refined as exploration results and target priorities develop.

A broad pipeline of exploration opportunities

The exploration plan identifies a range of targets across Pen, including Muskego, Chabot, Slate Rock, Crawford, Deerfoot and Reeves, alongside earlier-stage opportunities. Barrick's assessment highlights structurally complex areas with associated gold-in-till anomalies extending over several kilometres and mineralized trends with sparse drilling or limited testing at depth.

The planned program is designed to evaluate these opportunities systematically and identify the strongest targets for drill testing. GFG expects to provide further updates as program details are confirmed and exploration advances.

About GFG Resources Inc.

GFG is a North American precious metals exploration company focused on district-scale gold opportunities in the Timmins gold district of Ontario, Canada. The company controls three highly prospective gold projects within one of the world's most established gold camps.

GFG's exploration strategy is focused on advancing the Aljo gold system, systematically generating and testing new discovery opportunities across the Goldarm property, and maintaining significant exposure to the advancement of the Pen gold project through its strategic earn-in agreement with Barrick.

Qualified person

All scientific and technical information contained in this news release has been prepared under the supervision of Anders Carlson, PGeo, vice-president, exploration, of GFG, a qualified person within the meaning of National Instrument 43-101.

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