TORONTO, ON / ACCESS Newswire / July 21, 2026 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:ESK)(OTC PINK:ESKYF)(Frankfurt:KN7) (WKN:A0YDPM) is pleased to announce that its planned 5,000-meter diamond drilling program on the Corey-Eskay Property is now underway. This announcement follows the exploration plan detailed in the Company's June 1 news release, which identified several high-priority targets within British Columbia's Golden Triangle.

The Company has successfully mobilized its drilling team and initiated operations from the Goldstorm Metals Corp's Electrum camp. Due to higher-than-normal snow conditions at the TM and Vermillion target areas, drilling has commenced at the lower-elevation C-10 prospect. As detailed in our 1 June news release, the first two boreholes, EM26-01 and EM26-02, are targeting combined chargeability and conductivity anomalies within the Betty Creek Formation.

Because of favourable snow conditions over both the Big Red porphyry copper target and the Sultan gold veins target, boreholes EM26-03 at Big Red (drill pad completed) and EM26-04 at Sultan (next pad to be built) will be the next boreholes drilled. See Figure 1 for the location of these target areas plotted over a magnetics (analytic signal) map of the region.

Once surface conditions permit, the program will shift focus to the TM and Vermillion areas.

Figure 2 presents the same magnetics map as Figure 1, overlain by

1. known faults and the known extent of intrusive rocks, as published by the geological survey of British Columbia,

2. the outlines of significant neighbouring mineral deposits labelled in Figure 1, and

3. the collar locations of boreholes drilled in the past on the Corey-Eskay Property.

Since

1. there is a significant correspondence between the mineral deposits in Figure 1 and intrusives and/or magnetic highs, and

2. there are many non-liner magnetic highs (shown in red) in Figure 2, which are suggestive of intrusives, but which have not been identified as intrusives, and

3. most of the latter have never been sampled below surface (drilled), it follows that:

all the non-linear magnetic highs on the Corey-Eskay Property constitute important porphyry copper-gold targets and they are currently receiving the Company's attention.

In this context, and further to the Company's May 11 announcement regarding the retention of internationally-renowned structural geologist Dr. Brett Davis, Eskay is pleased to confirm that Dr. Davis will be arriving on the property for an eight-day visit on July 22, 2026. Dr. Davis will provide expert analysis of the complex structural regimes evident in Figures 1 and 2, as well as guidance to Eskay's geological mapping and core logging teams.

Eskay is also proud to announce that the dedicated rapid-turnaround analytical laboratory described in its April 28 news release has been commissioned in Stewart, B.C.. The facility is equipped with specialised equipment for the collection of sludge from the core saw, which material is then analysed by both conventional pXRF for a large suite of elements, including copper, zinc, and pathfinder elements for gold, and by PortablePPB's detectORE™ technology for gold and silver. This strategic development allows the Company to receive multi-element analyses from drill core cuttings within 48 hours of cutting, a significant improvement over regular commercial laboratory turnaround times. This real-time data will enable the exploration team to make rapid, analytical-results-based decisions to optimise targeting of the drilling rig throughout the summer season.

"The synchronization of our drilling commencement, the arrival of world-class structural expertise, and the commissioning of our Stewart lab marks a transformative moment for Eskay," stated Mac Balkam, CEO of Eskay Mining. "By utilizing reliable, rapid-turn-around analytical data from new lab and applying Dr. Davis's structural insights, we are maximizing the efficiency of our 2026 exploration window. I am also delighted to be announcing the first boreholes ever to be drilled on our Big Red and Sultan targets".

At Big Red, recent and historic and rock samples were assessed using the University of British Columbia Mineral Deposit Research Group (MDRU) porphyry proximity index (MPIx). The MPIx index was developed to assess proximity to a possibly-mineralised Cu/Au porphyry deposit. Many samples assessed at Big Red contain high MPIx numbers. Supportive copper levels in rock samples collected at Big Red in 2025 are shown in Figure 3.

The Sultan Zone was discovered during the 2025 sampling program in an area comprised of a bimodal volcanic sequence with lesser marine sedimentary rocks which yielded high gold levels in a number of rock samples (Figure 4).

Localized discrete shears occur throughout the area and occasionally host pyrite-pyrrhotite-arsenopyrite mineralization returning up to 11.2 g/t Au and 56.6 g/t Ag (Sample A0514256). At similar elevations a 5 by 3m zone of massive sulphide replacement was observed associated with intercalated volcanics and sediments exhibiting moderate to strong silicification. Pyrrhotite and trace to minor chalcopyrite comprise the sulphide assemblage, associated with quartz-pyrite-pyrrhotite veining. Samples collected from the massive sulphide zone returned low-grade gold and silver with 0.26% copper (Sample A0519938 - Figure 5).

Qualified Person

Clinton Smyth, P. Geo., Chief Geologist for the Company, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden Triangle," 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (52,600 hectares).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR+ at www.sedarplus.com.

For further information, please contact:

Mac Balkam
President & Chief Executive Officer
T: 416 907 4605
E: Mac@eskaymining.com

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.

Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Figure 1: Airborne magnetic survey analytic signal results over the Eskay Mining Corp. Corey-Eskay Property alongside equivalent data for the area hosting six variations of porphyry copper/gold deposits immediately to the east of the property. The pattern of analytic signal results suggests four major structural domains: (1) A south-southwest trending corridor including six porphyry copper/gold deposits; (2) A domain primarily to the northeast of the 27km access road (which displays a northerly grain curving eastward); (3) A domain to the south and west of the 27km access road with a north-northwest grain; (4) A predominantly high analytic signal domain at the southwestern end of the porphyry-hosting corridor which is primarily underlain by the Eocene Lee Brand Stock (see Figure 2 for location). Eskay Mining's primary exploration targets in 2026 are shown in the figure, all appearing close to where the porphyry corridor encounters the Lee Brand Stock.

Figure 2: Map showing the location of intrusive rocks as delimited on the BCGS geological map of the Eskay Mining Corp's Corey-Eskay Property and it surrounds, together with faults (see legend) and collar locations (small black crosses) of historical boreholes on the property. See text for discussion.

Figure 3: Big Red rock sample and target location map.

Figure 4: Sultan rock sample and target location map.

Figure 5: Massive-sulphide mineralization at Sultan comprised of pyrrhotite-pyrite+/- chalcopyrite at location of sample A0519938

SOURCE: Eskay Mining Corp.