19:10:17 EDT Tue 22 Sep 2026
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Stellar AfricaGold Inc (2)
Symbol SPX
Shares Issued 64,970,784
Close 2026-09-22 C$ 0.10
Market Cap C$ 6,497,078
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Stellar AfricaGold signs drill contract for Tichka Est

2026-09-22 17:48 ET - News Release

Mr. J. Francois Lalonde reports

STELLAR AFRICAGOLD SIGNS CONTRACT FOR 5,000 METRE PHASE II DIAMOND DRILL PROGRAM AT TICHKA EST GOLD PROJECT, MOROCCO; TRENCHING UNDERWAY AT NEW DYKE TARGET; HIGH-RESOLUTION MAGNETIC SURVEY CONTRACTED

Stellar AfricaGold Inc. has provided an update on the advancement of its fully financed exploration program at the Tichka Est gold project in Morocco (see press release dated Aug. 11, 2026).

Highlights:

  • Following a competitive tender process (AO 01-2026), a contract has been executed with Compagnie Marocaine des Forages Minier (CMFM), a Moroccan drilling contractor, for the fully financed phase II diamond drilling program at the Tichka Est gold project in Morocco. Rig mobilization has commenced and drilling is expected to begin in October, 2026. The company will announce the start of drilling.
  • Trenching commenced at the new dike target area identified by the company's integrated targeting work (see news release dated Aug. 11, 2026) on Sept. 14, 2026. The trenching program comprises seven mechanical trenches totalling approximately 217 metres, accompanied by detailed structural mapping. Results will be reported once received, validated and interpreted. Five drill holes of the 24-hole phase II program are provisionally allocated to this area.
  • A contract has been signed with geophysical contractor Progrem SARL for a high-resolution, closely spaced (closed-grid) drone magnetic survey over zones A, B and C: approximately 144 line kilometres, comprising east-west lines at 50-metre spacing and 500-metre tie lines, flown at a nominal 60-metre terrain clearance. Deliverables include full processing, interpretation and 3-D magnetic inversion. Acquisition is scheduled for October, 2026. Data will be acquired under strict contractual quality-control acceptance criteria and integrated into drill targeting.
  • The company's 3-D litho-structural model has been refined with the complete, validated phase I drilling database, finalizing collar positions and orientations for the phase II 24-hole, approximately 5,000-metre drill program.
  • Drill platforms, access and water supply are in place. The program remains fully financed.

Phase II drilling -- contract signed, mobilization under way

Following the competitive tender launched in August (AO 01-2026), the company has executed a drilling services contract with Compagnie Marocaine des Forages Minier (CMFM). CMFM was selected from a short list of three qualified bidders based on its technical capability, mountain-terrain experience, safety record, schedule and price. The contract includes performance-based requirements, including minimum core recovery in mineralized zones, systematic downhole deviation surveys and oriented core, and the contract preserves the company's flexibility to resequence holes as results are received. Mobilization of the contractor's rig and crews to the High Atlas Tichka Est site is under way; drilling is expected to commence shortly. The first holes of the phase II program will target the depth and strike extensions of the mineralized diorite sill stack at Zone B, directly beneath drill hole TCK-001 (12 metres at 6.62 grams per tonne gold, including two metres at 22.28 grams per tonne gold; see news release dated Aug. 11, 2026).

Trenching under way at the new dike target

Excavation of the first trenches at the new dike target began on Sept. 14, 2026. The seven-trench program (approximately 217 metres) is designed to test, beneath surface cover, a dike corridor identified by the convergence of the company's 2026 satellite remote-sensing study, dike-population mapping and anomalous rock sampling. Systematic channel sampling and detailed structural mapping are accompanying the excavation. Assay results will be reported once received, validated and interpreted in accordance with National Instrument 43-101 standards. The trenching results will facilitate finalizing the drill plan for the five holes provisionally allocated to this area. At present, it is anticipated that this new dike target will be drilled in Q4 2026 following the drill holes planned for Zone B.

Chief executive officer J. Francois Lalonde commented: "This drilling campaign represents an important milestone in Stellar AfricaGold's exploration of Tichka Est. I am very proud of the team's work ethics. The drilling contractor was selected after a competitive process, and the past six months of disciplined work led to a sound program identifying the proposed new drill targets.

"I am keen to begin this fall season's major exploration program and look forward to receiving the assay results -- first from the trenching campaign that is currently under way on the newly identified mineralized dike zone, and subsequently from the drilling campaign, both of which could open entirely new target areas in Tichka Est."

Geophysics -- detailed survey contracted; regional interpretation completed

A contract has been signed with geophysical contractor Progrem for a high-resolution, closely spaced (closed-grid) drone magnetic survey over zones A, B and C: approximately 144 line-kilometres, comprising east-west lines at 50-metre spacing and 500-metre tie lines, flown at a nominal 60-metre terrain clearance. Deliverables include full processing, interpretation and 3-D magnetic inversion.

The closed-grid drone magnetic survey will map the geometry of the diorite sills and dikes that host gold mineralization, resolve late-fault offsets, and test the geophysical expression of the hydrothermal system interpreted from the company's 2026 lithogeochemical survey. The survey will be flown with a Geometrics MagArrow magnetometer towed beneath a DJI Matrice 350 RTK platform, with an Overhauser base station for diurnal correction, terrain -- following flight plans built on a high-resolution digital terrain model and a daily repeat-line quality-control protocol; acquisition, processing and 3-D magnetic inversion are governed by contractual quality-control acceptance criteria. Acquisition is scheduled for October, 2026, subject to weather windows at site elevations of up to approximately 2,500 metres.

Qualified person

The technical content of this press release has been reviewed and approved by Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a qualified Person as defined in NI 43-101.

About the Tichka Est gold project

The Tichka Est gold project comprises five research permits and one exploitation licence covering 82 square kilometres in the High Atlas region of Morocco, approximately 90 kilometres south of Marrakech. Under an earn-in agreement with Morocco's Office National des Hydrocarbures et des Mines (ONHYM), Stellar can earn an 85-per-cent interest in the project by incurring $2.39-million (U.S.) in exploration expenditures over three years. Gold mineralization is currently recognized in three zones: Zone A, Zone B (representing the most advanced area following recent drilling) and Zone C. Much of the 82-square-kilometre project area remains unexplored or only superficially explored.

About Stellar AfricaGold Inc.

Stellar AfricaGold is a Canadian precious metals exploration company focused on North and West Africa, with active exploration programs in Morocco and Ivory Coast. The company's principal projects are the Tichka Est gold project in Morocco, where Stellar is advancing a gold discovery with a fully financed 5,000-metre diamond drilling program scheduled for the fall and winter of 2026, and the Zuenoula gold project in Ivory Coast, operated under an earn-in and joint venture agreement with MetalsGrove Mining Ltd., with a fully financed 10,000-metre auger drilling program under way. Stellar trades on the TSX Venture Exchange (symbol: SPX), the Tradegate Exchange (symbol: 6YP) and the Frankfurt Stock Exchange (symbol: 6YP). The company maintains its head office in Vancouver, B.C., and its in-country office in Marrakech, Morocco.

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