• Dr. Lipson brings more than 50 years of global exploration and mine experience, including serving as Chief Geologist for Gold Fields, and is a recognized paleoplacer and orogenic gold specialist with deep expertise in structural geology, mapping and data interpretation.

• Long-standing connection to the region after first evaluating gold-bearing quartz vein systems near Gander for Gold Fields approximately 20 years ago.

St. John's, Newfoundland and Labrador--(Newsfile Corp. - August 11, 2026) - Pirate Gold Corp. (TSXV: YARR) (OTCQB: YARRF) ("Pirate Gold" or the "Company") is pleased to announce the appointment of Dr. Rael Lipson as Strategic Advisor. Dr. Lipson is a recognized specialist in paleoplacer and orogenic gold systems and brings more than 50 years of global exploration and mine experience to the Company as it advances the district-scale Treasure Island Project along the Valentine Lake Fault Zone in Central Newfoundland.

Dr. Lipson previously served as Chief Geologist for Gold Fields Exploration Inc., evaluating gold and copper-gold assets worldwide. Earlier, with Phelps Dodge in South Africa, he was part of the team involved in discovering the world-class Black Mountain base-metal deposits.

He later served on the board of Mako Mining during the exploration and development of the high-grade San Albino gold deposit. In 2024, he was lead author of an Economic Geology paper on San Albino, co-authored with Pirate Gold strategic advisor Dr. Richard J. Goldfarb. Dr. Lipson currently serves as Technical Director of Annamite Resources and was adjunct staff at the Colorado School of Mines.

"When I first examined the gold-bearing quartz vein systems near Gander for Gold Fields approximately 20 years ago, I was struck by their potential for high-grade orogenic gold," said Dr. Lipson. "That conviction eventually led me to invest in Sokoman and remain a shareholder through its evolution into Pirate Gold. Returning to the region as a strategic advisor is especially exciting. Pirate Gold now controls an exceptional land position in a district I have believed in for two decades, and I am eager to work with the team to apply proven mapping, structural interpretation and integrated targeting methods to help unlock its full potential."

"Rael brings a rare combination of major-company leadership, deep orogenic gold expertise and decades of experience evaluating gold systems around the world," said Denis Laviolette, CEO and Executive Chairman. "His ability to integrate field mapping, structural geology and multiple datasets into focused, high-quality targets will strengthen our technical approach as we advance the orogenic gold potential across Treasure Island."

The Company also announces today that it has terminated its existing advertising agreement with Allan Barry Laboucan which provides sponsorship of Mr. Laboucan's content on the digital platform Rocks and Stocks News in the aggregate amount of $160,000. While the agreement stipulated that Mr. Laboucan would always retain full editorial control over all content on his platform, the TSX Venture Exchange (the "TSXV") has categorized the arrangement as "promotional", as a result of which they have required the Company to monitor and approve all of Mr. Laboucan's content regarding Pirate on a going-forward to ensure regulatory compliance. The Company is of the view that this requirement would be too onerous on both parties and would also serve to undermine Mr. Laboucan's journalistic integrity which is a cornerstone of his content. Accordingly, the Company and Mr. Laboucan have mutually agreed to terminate the advertising agreement in furtherance of the journalistic independence of Rocks and Stocks News, and in order to ensure the Company's ongoing compliance with all applicable regulations of the TSXV.

About Pirate Gold Corp.

Pirate Gold Corp. is a Newfoundland-focused exploration company advancing its 100%-owned Treasure Island Project, a district-scale property covering more than 90 km of strike along the Valentine Lake Fault Zone. Exploration is focused on the high-grade Moosehead gold system, the Moby Dick copper-gold porphyry/epithermal discovery and multiple regional targets across the Crippleback Intrusive Suite. The Company also holds a portfolio of Newfoundland gold projects, including the district-scale Fleur de Lys Project.

Website: www.pirategold.ca
Twitter: @PirateGoldCorp
Facebook: @PirateGoldCorp
LinkedIn: @PirateGoldCorp

Acknowledgment

Pirate Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Investors are cautioned that trading in the securities of the Company should be considered highly speculative. This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be "forward-looking statements." Actual results may differ materially. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) including statements regarding the Company's plans with respect to the Company's projects and the timing related thereto, the merits of the Company's projects, the Company's objectives, plans and strategies, and other matters are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements. Factors that may cause results to vary include delays in obtaining necessary approvals, changes in the market for the Company's securities, results of exploration, loss of title to properties, delays in obtaining permits or access to mineral properties, including as a result of adverse weather, fire or flood, changes to the Tax Act, rejection of expenditures as Qualifying Expenditures, and factors included in the documents filed from time to time with the Canadian securities regulatory authorities by Pirate Gold Corp. Pirate Gold Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309115