Mr. Denis Laviolette reports

PIRATE GOLD APPOINTS FORMER GOLD FIELDS CHIEF GEOLOGIST DR. RAEL LIPSON AS STRATEGIC ADVISOR

Pirate Gold Corp. has appointed Dr. Rael Lipson as strategic adviser. 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 around the world. 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-written with Pirate Gold strategic adviser 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 adviser 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, chief executive officer and executive chairman. "His ability to integrate field mapping, structural geology and multiple data sets 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 has categorized the arrangement as promotional, as a result of which it has required the company to monitor and approve all of Mr. Laboucan's content regarding Pirate on a going-forward basis 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 continuing compliance with all applicable regulations of the TSX-V.

About Pirate Gold Corp.

Pirate Gold is a Newfoundland-focused exploration company advancing its 100-per-cent-owned Treasure Island project, a district-scale property covering more than 90 kilometres 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.

Acknowledgment

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

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