Mr. R. David Russell reports

GALLEON GOLD STEP-OUT HOLES INTERSECT GOLD AROUND THE ZONE #9 HIGH-GRADE CORE AT WEST CACHE

Galleon Gold Corp. released the assay results from four stepout holes drilled around the high-grade core of zone No. 9 at its 100-per-cent-owned West Cache gold project in Timmins, Ont. All four holes intersected gold mineralization, including 2.52 grams per tonne (g/t) gold (Au) over 26.5 metres (m) in WC-26-246, showing that the high-grade core of zone No. 9 sits within a broad mineralized envelope that extends well beyond the high-grade intercepts reported earlier this year.

The 2026 drill program has now delivered a more fulsome picture of the zone No. 9 story: high-grade intercepts at depth, including 16.07 g/t Au over 9.25 m in WC-26-237 and 6.8 g/t Au over 19.45 m in WC-26-241, and, with today's results, a broad envelope of gold mineralization surrounding them. Together, these results are building the drill density and geological continuity needed to model zone No. 9 at depth.

Highlights:

• WC-26-243 with 1.56 g/t Au over 7.0 m, including 4.72 g/t Au over 1.9 m;
• WC-26-245 with 1.07 g/t Au over 28.5 m, including 5.32 g/t Au over 1.9 m;
• WC-26-246 with 2.52 g/t Au over 26.5 m, including 4.02 g/t Au over 7.0 m and including 4.28 g/t Au over 8.0 m;
• WC-26-247 with 1.01 g/t Au over 18.5 m, including 2.21 g/t Au over 3.0 m;
• All four holes intersected gold mineralization surrounding the zone No. 9 high-grade core defined by WC-26-237, WC-26-239 and WC-26-241 (16.07 g/t Au over 9.25 m; 6.25 g/t Au over 10.2 m; 6.8 g/t Au over 19.45 m);
• Zone No. 9 has now been traced over more than 500 m of vertical extent.

"Our goal with these four holes was to test how far gold extends around the high-grade core we drilled earlier this year and every hole hit," said David Russell, chief executive officer and president. "Intervals such as 2.52 grams per tonne gold over 26.5 metres tell us the high-grade results at the 450 m elevation in holes 237, 239 and 241 sit inside a much larger mineralized system, not an isolated pod. Hole by hole, the 2026 program is giving us the drill density and continuity that resource modelling depends on, and zone No. 9 remains open both updip and downdip of the results reported today. We look forward to incorporating these results into our future resource work at West Cache."

Purpose of the drill holes

The four holes announced today were designed to test the area around the high-grade zone No. 9 results at the 450 m elevation in WC-26-237, WC-26-239 and WC-26-241, which returned 16.07 g/t Au over 9.25 m, 6.25 g/t Au over 10.2 m and 6.8 g/t Au over 19.45 m, respectively (see news releases dated May 27, 2026, and July 30, 2026).

The holes intersected zone No. 9 approximately 45 to 80 metres outside of the high-grade core, stepping out from previously reported intercepts to test the projection of the mineralized envelope and to assist with modelling of the plunge interpretation. Every hole intersected gold mineralization and the recognizable structural and mineralogical features of the zone No. 9 horizon.

Summary of 2026 zone No. 9 drilling:

• May 21, 2026: WC-26-234 and WC-26-235 confirmed grade continuity below and west of the planned bulk sample stopes at the 180 m to 220 m elevation, including 5.13 g/t Au over 9.97 m within a broad intercept of 3.00 g/t Au over 18.75 m.
• May 27, 2026: WC-26-237 intersected 16.07 g/t Au over 9.25 m within 4.07 g/t Au over 40.9 m, approximately 275 m downdip of the planned bulk sample stopes at the 450 m elevation, in an area not previously tested by drilling.
• July 15, 2026: WC-26-238 and WC-26-240 extended the zone No. 9 corridor to more than 500 m of vertical extent and outlined a 150 m plunge extent around the deeper high-grade core.
• July 30, 2026: WC-26-239 and WC-26-241 confirmed the high-grade core, including 6.8 g/t Au over 19.45 m within 4.72 g/t Au over 29.05 m.
• Today: WC-26-243, WC-26-245, WC-26-246 and WC-26-247 outlined the broader mineralized envelope surrounding that deeper core from the 400 m to 530 m elevation.

Consistent with the company's 2026 objective of infill and stepout drilling to further define the existing resource and potentially convert and expand gold ounces, results from the 2026 drill program are expected to be incorporated into future resource modelling at West Cache. The company is currently drilling hole WC-26-268 and has completed 36 holes since the beginning of the 2026 drill program in March.

Table 1 outlines the composited assay intervals and estimated true thicknesses for the holes reported today.

Technical content and qualified person

The technical content of this news release has been reviewed and approved by Leah Page, PGeo, vice-president, exploration, and a qualified person (QP) as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Quality assurance (QA)/quality control (QC)

Quality control and assurance procedures and protocols are executed to ensure sampling and analysis of all exploration work is conducted in accordance with best practices. Core produced at the West Cache property is delivered to the company's Timmins logging facility by the drill contractor with all logging, cutting, labelling and bagging completed under supervision of qualified geologists. NQ-sized core is predominantly sawn in half, with one-half of the core prepared for shipment, while the other half is retained for future assay verification.

Core samples are transported from the company's Timmins logging facility to AGAT Laboratories in Thunder Bay, Ont., for both prep and 30-gram fire assay analysis. Results are reported in batches of 60 to 72 samples and average four to five QC samples per certificate. Commercially prepared certified reference material (CRM) and duplicate samples are inserted at an average rate of 6 per cent to 8 per cent. At least one blank, standard and duplicate (pulp or coarse) is inserted for every 50 samples and additional QC samples are inserted at the geologist's discretion. All samples reported have been checked against the company's internal and the lab's quality control samples.

About the West Cache gold project

The West Cache gold project is an advanced-stage gold exploration project covering approximately 11,600 hectares, located 13 kilometres (km) west of Timmins, Ont., on provincial Highway 101. It is situated in the Western Porcupine gold camp along the Destor-Porcupine fault zone within the Abitibi greenstone belt, approximately seven km northeast of Pan American Silver's Timmins West mine. The mining lease area hosts the current mineral resource estimate near the centre, with additional exploration targets to the north and south. The mineral resource estimate is contained within the Porcupine sedimentary basin, a favourable litho-structural corridor with over five km of strike length on the property. Mineralization is open in all directions and at depth.

About Galleon Gold Corp.

Galleon Gold is advancing the West Cache gold project with a disciplined, derisking strategy centred on resource growth and an upcoming 86,500-tonne bulk sample program, positioning the company to unlock long-term shareholder value.

We seek Safe Harbor.