Mr. Rex Motton reports

CROSSROADS GOLD COMMENCES MAIDEN 2026 FIELD EXPLORATION PLAN AT THE STEIGLITZ GOLD PROJECT

Crossroads Gold Corp. has commenced its maiden 2026 field exploration program at the Steiglitz gold project, located approximately 80 kilometres (km) west of Melbourne in the state of Victoria, Australia.

The program includes soil sampling, mapping, target generation and community engagement. Geochemical surveys are designed to focus on target advancement, target generation and discovery. The company recently completed a maiden systematic soil sampling program across a priority structural corridor with initial sampling of 247 samples from the Hanover fault zone, a key target area for gold-antimony mineralization. Assay results are pending and will be reported once received, validated and interpreted by the company. The company anticipates collecting a further 170 samples for analysis in other favourable structural zones, as well as a broader stream sediment program to cover areas to the south as possible extensions to the established structures of the Steiglitz goldfield.

Rex Motton, chief executive officer and director of Crossroads, commented: "Crossroads has begun its maiden 2026 field exploration program at Steiglitz, marking a significant milestone. We are continuing to build operational momentum focused on systematic exploration and target advancement. Our work to date at Steiglitz indicates a substantial, underexplored gold system within one of Australia's most prolific gold belts. We see these early results as being highly encouraging and continue to reinforce our view that the Steiglitz project offers a compelling, target-rich opportunity in a historically high-grade district with very limited drilling. Research, sampling and field mapping has established several significant priority targets, which we are committed to advancing quickly toward drilling."

Work plans are required by Earth Resources and Regulations Victoria (ERR) for all drilling activities. A work plan for scout drilling at various locations within the Steiglitz goldfield has been submitted to ERR for approval in anticipation of the company's planned phase 1 drilling program in Q2 (second quarter) 2026. Other work plans are in the drafting stage and assay results of current soil sampling program will complement the development of these work plans.

Target generation

Despite strong historical production, modern exploration at Steiglitz remains extremely limited, with only five historical drill holes completed at the Hanover group of mines. Two dominant structural corridors of gold mineralization are interpreted based upon mapping, geochemistry and previous gold production, which, together, form a large, structurally controlled gold system that are obliquely orientated to each other. The Hanover fault zone is one of these main mineralized zones and includes the area of the Hanover group of mines. Previous modern exploration focused on parts of the Hanover fault zone, which included geochemical surveys, induced polarization (IP) geophysical traverses, geological mapping, and limited reverse circulation (RC) and diamond drilling (only five drill holes to date). Continuing project-wide exploration activities are also aimed at target generation and drill target refinement.

A limited soil sampling survey by previous explorers in the Hanover mine area revealed elevated gold-arsenic-antimony in soil, supporting the view that the Hanover fault zone has a similar epizonal mineralization association as found at Agnico-Eagle's Fosterville gold mine, which is located approximately 135 kilometres (km) to the north-northeast along the important West Selwyn Margin epizonal trend. Crossroads has conducted infill soil sampling in the historical Hanover mine area, as well as further extensional soil sampling to the east and west along the Hanover fault zone.

Methodology

Whole soil samples have been collected at a nominal depth of 30 centimetres in relatively thin skeletal type soils overlying bedrock. Initial assay sampling by portable X-ray fluorescence (XRF) technique of 113 samples revealed a continuous corridor of arsenic and antimony mineralization throughout the main Hanover fault zone sampled for 900 metres (m). The portable XRF analyses received thus far yielded as much as 648 parts per million (ppm) arsenic and 65 ppm antimony. Mineralization is open along strike to the east and west within the main Hanover fault zone and the newly discovered parallel North Hanover fault zone, which led to the extension of the sampling grid and further sampling.

A second parallel zone of arsenic-antimony anomalous mineralization in soil samples was discovered after lidar (light detection and ranging) survey data revealed gold workings 200 metres farther north to the area previously investigated. This area includes an old adit and is now referred to as the North Hanover fault zone.

Anomalous arsenic and antimony soil samples will be sent for low-level (parts per billion (ppb)) gold assays with an expected turnaround of less than four weeks. Meanwhile, a drilling work plan will be submitted for approval to ERR to target the established anomalous zones of mineralization.

Research

Research of old scanned newspaper reports from the 1860s to the early 1900s has commenced and is continuing. Initial research has focused on the North Birmingham mine, the deepest mine within the exploration licence (EL). There are many newspaper entries for North Burmingham mine from the 1890s from various newspapers. In compiling this information, the company has directed its attention to establishing why the North Birmingham mine closed in the late 1890s.

The reports from North Birmingham and neighbouring leases describe a structurally segmented shear-hosted system in which multiple repetitive postmineral low-angle reverse fault displacement complicated development but did not demonstrably terminate mineralization. At the lowest 763-foot (ft) (approximately 233 m) level, payable grade persisted at 0.9 ounce per ton (oz/t) gold (Au) (27 grams per tonne (g/t) Au). A further 200 ft (60 m) shaft sinking was formally proposed by management to access the downplunge continuation of the high-grade ore shoot. That test was never undertaken due to lack of capital investment. The cessation of development therefore marks not the confirmed end of a mineral system but was caused by conditions of limited capital availability at the time. Drilling will establish the location and grade of the high-grade ore shoot below the old workings and allow for detailed 3-D modelling of the mineralization present.

Community engagement

Crossroads Gold is actively engaging with the local community and landowners within the Steiglitz project. The company has been reaching out to landowners and community members through various means to explain its planned low-impact exploration strategy and procedures. The company looks forward to continuing to work with the local community and to keep them informed of continuing activities. The company is employing low-impact exploration techniques as defined by ERR to minimize environmental and community impact.

Further details are available on the company's website and on the company's SEDAR+ profile.

About the Steiglitz project

The Steiglitz project is located approximately 80 km west of Melbourne in Victoria, Australia, within one of the country's earliest and most historically productive hard-rock goldfields in the Bendigo zone of the Lachlan fold belt, which hosts world-class deposits, such as the nearby Fosterville gold mine, operated by Agnico-Eagle. Fosterville has produced over 4.4 million ounces to date since 2005. Victoria is the largest gold-producing state in Australia, having produced 33 per cent of all gold mined historically in Australia, and currently has 13 goldfields that have each produced over one million ounces of gold.

Covering 53 square km under EL6164, the Steiglitz project hosts gold mineralization in high-grade, gold-antimony-arsenic quartz veins and stockwork zones associated with regional structural controls, consistent with epizonal orogenic gold systems. Historically, Steiglitz ranked among the top producers in the Bendigo belt, generating approximately 250,800 ounces of gold at a recovered grade of 38 g/t Au from shallow mining between 1855 and 1911, representing the second-highest grade to Tarnagulla (59.6 g/t Au). Numerous shallow past-producing mines across the property (Alliance, Hanover and North Birmingham) were developed to relatively limited depths, highlighting strong potential for modern exploration and drilling below historical workings. Recent exploration programs have identified multiple untested targets supported by geochemical, geophysical and geological data demonstrating signatures typical of Victoria's premier gold camps.

About Crossroads Gold Corp.

Crossroads is a Canadian gold exploration company backed by the Fiore Group and focused on high-potential gold projects within a two-hour drive from Melbourne in Victoria state, Australia, one of the world's premier gold-producing jurisdictions. The company aims to deliver new gold discoveries in a Tier 1 jurisdiction while generating long-term value for shareholders. Crossroads' portfolio includes the historic Steiglitz project, a historical high-grade producer within the renowned Bendigo gold belt. The Steiglitz project is largely underexplored with modern technology and situated in highly prospective geological belts with proven potential for epizonal and mesozonal orogenic gold systems.

In addition to the Steiglitz project, the company has an application for an EL on the Pheasant Creek project. The Pheasant Creek project is located approximately 75 km northeast of Melbourne in Victoria state, Australia. The large 232 square km project comprises EL8776. The Pheasant Creek project occurs within the Melbourne zone of the Lachlan fold belt, which is composed of Siluro-Devonian sediments and Mid-Devonian granitic intrusions. The Pheasant Creek project lies immediately south of, and in similar geology to, the Sunday Creek discovery of Southern Cross Gold, which is an outcropping orogenic or epizonal dike-hosted deposit. Southern Cross has drilled 235 holes over 107,000 m (as at Jan. 11, 2026) and is allocating $60-million (Australian) over a 200,000 m drill program to the Sunday Creek project.

Crossroads is led by an experienced management and technical team with deep Australian and global discovery expertise. Crossroads is supported by excellent infrastructure, year-round access, and a stable regulatory framework to systematically advance its projects with modern exploration and drilling aimed at unlocking meaningful gold discoveries. Crossroads is committed to responsible resource development, pro-active and open communication, and transparent and inclusive dialogue with regional communities, indigenous organizations and all stakeholders. Crossroads is committed to proactive decision-making and creating economic opportunities for all stakeholders, including the communities it operates in.

Qualified person

The scientific and technical information contained in this news release was reviewed and approved by Andrew Hamilton, PGeo, who is a qualified person (as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. Hamilton is independent of the company in accordance with National Instrument 43-101, Standards of Disclosure for Mineral Projects, and has not visited the Steiglitz project discussed in this disclosure.

We seek Safe Harbor.