Mr. Hratch Jabrayan reports

GALLOPER RETAINS P&E MINING CONSULTANTS AND INITIATES UPDATED MINERAL RESOURCE ESTIMATE FOR LPSE DEPOSIT EVALUATION ON GLOVER ISLAND

Galloper Gold Corp. has retained the services of P&E Mining Consultants Inc. to immediately initiate work on an updated National Instrument 43-101-compliant mineral resource estimate (MRE) of its 100-per-cent-owned Lunch Pond South Extension (LPSE) gold resource.

The Glover Island property covers an area of 116.6 square kilometres and contains the LPSE gold resource. Gold indicated and inferred in the LPSE resource was delineated by Mountain Lake Minerals Ltd. in 2017. Grade and tonnage for this deposit are stated as:

1. A 0.5-gram-per-tonne-gold-cut-off open-pit mine design with a 1.72-gram-per-tonne-gold average within a 993,000-tonne indicated resource and a 1.59-gram-per-tonne-gold average within a 1,703,000-tonne inferred resource;
2. A 2.0-gram-per-tonne-gold-cut-off underground mine design with a 2.99-gram-per-tonne-gold average with a 36,000-tonne indicated resource and a 2.78-gram-per-tonne-gold average within a 373,000-tonne inferred resource.

See Table 1.1 below from E. Puritch and J. Barry, 2017, technical report and resource estimate on the Glover Island property, Grand Lake area, west-central Newfoundland, Canada, for Mountain Lake Minerals Ltd.

The 2017 LPSE mineral resource was performed using a value of $1,210 (U.S.) per ounce, and the current update is being performed in a significantly increased gold valuation environment.

Galloper Gold's chief executive officer, Hratch Jabrayan, commented: "Updating the MRE on the LPSE resource is an important step to advancing and progressing the Glover Island project. The project has benefited from a significant gold valuation increase since 2017. Assessing the economic potential with a renewed and updated MRE will help us to progress the technical component of the project. Results from this exercise are expected in Q2 2026."

An updated MRE will provide a reinterpreted economic ore zone with revised grade constraints, estimation and pit-shell geometry. Galloper Gold has engaged P&E Mining Consultants, which performed the 2017 MRE, for this development exercise. P&E is an independent qualified consultant and will prepare the updated MRE within the parameters of NI 43-101, Standards of Disclosure for Mineral Projects.

Technical information regulating the material disclosure regarding the LPSE resource (also available from July 31, 2025, news release)

The aforementioned technical report is considered relevant as no exploration work has been performed on the LPSE deposit since the report's production and release. The reliability of the historical estimate is considered valid per study and consideration of the report's findings.

The LPSE deposit is located at the southwestern portion of an 11-kilometre mineralized corridor known as the Glover Island trend (GIT). This prospective GIT is host to 17 gold, base metal, nickel and polymetallic minerals prospects. In addition, numerous gold anomalies cross several rock types adjacent to a major tectono-structural break known as the Cabot fault. Adding to the prospectivity of the GIT, the Ming mine, the Tilt Cove mines, the Nugget Pond mine and the Pine Cove mine are situated strike north on this fault on the Baie Verte peninsula, showing the prolific mineralized nature of this major structure on which the Glover Island property sits.

The historic LPSE resource table below highlights the mineral resource estimate from 2017.

Disclaimer: Parameters and assumptions for the values listed above can be sourced from the Puritch and Barry 2017 technical report referenced above. The work necessary to upgrade/verify the resource estimate has not been performed to date. The work required to effect the upgrading and verification of the resource involves drill core and assay analysis, modelling of lithological intersections and assay data, confirmation of select historical drill holes through drill hole twinning to compare twinned results with historical results, and a statistical analysis of the results to determine accuracy and reliability of historical data.

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The issuer of this press release is not treating the estimate as current.

Qualified person

The technical information in this news release has been reviewed and approved by Bryan Sparrow, PGeo, vice-president for Galloper Gold. Mr. Sparrow is the qualified person responsible for the scientific and technical information contained herein under NI 43-101 standards.

About Galloper Gold Corp.

Galloper Gold is focused on mineral exploration in central Newfoundland on its Glover Island exploration project. The property comprises 466 mining claims on 13 mineral licences covering 116.6 square kilometres (11,660 hectares). Historic exploration efforts produced the LPSE resource, which is wholly controlled by Galloper Gold.

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