Mr. Brian Hinchcliffe reports

LEGACY GOLD ADDS SECOND DRILL TO 2026 40,000-FOOT DRILL PROGRAM AT BANER GOLD MINE PROPERTY; NEXT MET TESTS AGREED WITH RDI; MT GEOPHYSICAL SURVEY TO BE FLOWN IN JUNE

As planned, a second diamond drill arrived on Legacy Gold Mines Ltd.'s Baner gold mine property in Idaho county, Idaho, and commenced drilling over the weekend of May 30. The company's 2026 exploration plan is for the first 12,000 feet (3,658 metres) to be core drilled, after which reverse circulation (RC) drilling will take over to drill the remaining 28,000 feet (8,536 metres) of the program in the months of July through September, subject to receipt of required permits and approvals. This program follows up on the successful 2025 results by targeting the main and northeast zones, as well as new exploration targets indicated by large gold-in-soil anomalies co-incident with geophysical conductors and similar magnetic highs as are in the main zone.

In an effort to advance production conceptualization for the Baner property, alongside the commencement of drilling, the company has entered into a contract with RDI -- a division of McCarl's Technical Services LLC -- for metallurgical and deportment studies that will follow up on previous work carried out by RDI on the Baner property. The company has also entered into a contract with Expert Geophysics Ltd. for airborne geophysical MT (magnetotellurics) and magnetic surveys over the entire property.

"Central Idaho is an exciting new center for U.S. gold production following decades of exploration by Canadian companies and the Oro Grande district -- where the Baner property sits -- will benefit from this momentum," said Brian Hinchcliffe, chairman and chief executive officer of Legacy Gold. "Most of the historic gold mines on the Baner are in the main zone, but our geologists are keen to use today's high-tech exploration tools to expand exploration and drilling to the northwest, northeast and to the south of the main zone as the 2026 exploration program advances."

Magnetotellurics is a passive electromagnetic system designed to measure resistivity/conductivity of the earth and is especially useful for penetrating to deeper levels than comparable geophysical methods. The aim of the survey is to identify conductors beneath the water table that may represent the sulphide equivalents of the Baner property oxide mineralization. The idea is to see if there are significant concentrations of sulphides, suggesting best places to drill oxides above (and possibly finding the depth of potential intrusive fluid sources for the overlying gold). The 339-line-kilometre survey will be conducted in June by Expert Geophysics and flown at 100-metre line spacing using their MobileMT system. The survey will include airborne magnetics. The results will help inform targeting for follow-up drilling planned for later in the year.

Drilling targets

Main zone

Drilling in 2025 intersected very wide zones such as new assays of 0.55 gram per tonne (g/t) gold (Au) over 187.5 metres (615 feet) in the middle, 0.52 g/t Au over 108.2 metres (355 feet) in the south and new assays of 0.57 g/t Au over 64.0 metres (210 feet) in the north (see the company's March 17, 2026, news release). The deposit remains open in all directions. Drilling in 2026 will primarily drill uphill from the drilling to date in the main zone to follow the interpreted flatter east-dipping veins to surface. On the south end of the north-south main zone are the Baner zones. They are east-west trending, and have up to 20 historical adits and shafts along them for 3,000 feet. Thirty-five holes are planned in this area (seven core holes and 28 RC holes).

Northeast zone

The northeast zone is separated by a 400-metre undrilled gap from the main zone. It has limited drilling from 2020 by previous operators but contains multiple mineralized zones of similar grades/widths like the main zone. Together with the main zone, these are the areas that the initial exploration target at the Baner property is based on and which Legacy Gold is aggressively drilling in 2026 in order to delineate a mineral resource. Ten holes are planned in this northeast zone (two core holes and eight RC holes).

Northwest zone

The northwest zone is located 1,700 metres northwest of the main zone along similar geophysical and geochemical anomalies as the main zone. Similar magnetic highs, IP (induced polarization) conductors and high gold-in-soil anomalies (up to 1.0 g/t gold) are located along this northwest trend as is found at the main zone -- and yet it has never been drilled. The closest drill hole is the stepout hole No. 6 drilled in 2025 that returned a continuous intersection of 0.57 g/t Au over 64.0 metres (210 feet) from surface. It was located approximately 136 metres northwest of the other nearest drilling. Another zone that will be drilled is located to the west and is identified by a 530-metre-long north-south soil anomaly with a high of 1.1 g/t. Altogether, six holes are planned in the northwest zone (four core holes and two RC holes).

The 2025 surface drill program at the Baner property focused on testing for continuity of high-grade and wide low-grade zones of mineralization with a new flatter-dipping interpretation of zones controlled by major structures that acted as conduits for gold-bearing fluids. This would result in better continuity of mineralization, the potential resource can be far greater and the strip ratio in a production scenario would be greatly decreased. The company is targeting high grade mineralization that is amenable to open-pit, heap leach development.

The planned drilling described above forms part of the company's 2026 exploration program and remains subject to receipt of required permits and approvals, as applicable.

Exploration target

Results from the recent 2025 drilling and previous drilling and exploration have supported the initial exploration target at the Baner property of approximately 50.3 million to 55.3 million tonnes, at average grades ranging from approximately 0.72 g/t Au to 0.91 g/t Au. furthermore, this initial exploration target was estimated prior to the receipt of the new assays reported by the company in March, 2026, which represent approximately 30 per cent of the 2025 drill program. The potential quantity and grades of the exploration target are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain whether further exploration will result in the target being delineated as a mineral resource. The exploration target does not represent a mineral resource estimate and has not been prepared in accordance with NI 43-101 mineral resource categories.

Basis for initial exploration target

This initial exploration target was estimated before the new assays reported by the company in March, 2026, were received. It is limited to 1,000 metres for the main zone (plus 500 metres at the Baner mine trend) and 370 metres for the northwest zone within 1,370 metres of the Orogrande structure. The initial exploration target excludes the adjacent soil anomalies along strike, which indicate significant room to grow. This preliminary target also excludes other targets on the Baner property that have overlapping geophysical magnetic and conductor/soil/structural anomalies similar to where the drilling has taken place to date. The anomalous soils extend another 600 metres in the immediate area, while other soil anomalies suggest a farther 2,200 metres -- if drilling in those areas intersects similar criteria, the exploration target would increase.

The conceptual volumetric calculations are derived from sectional interpretation and geological modelling. The geological information was collected from a total of 46 drill holes for 10,459 metres drilled over 2.3 kilometres of strike by Legacy Gold in 2025 (RC) and Idaho Champion (core) in 2018 and 2020.

The gold grade range of the exploration target has been calculated from the significant number of drill intercepts returned from the 46 holes completed to date. There are 114 intersections that are above the 0.2 g/t cut-off. A minimum width of five metres was used (five-metre benches). The volume range (tonnages) of the exploration target is defined by the drilling completed combined with the evidence updip given by similar grade soils to where drilling has taken place.

Intersections were weighted averaged for each of 10 sections, with strike lengths calculated from midpoint to midpoint between sections. There is an average of 3.8 zones per section. The dip lengths were measured up the hill where gold in soils suggests gold in the underlying rock. This evidence was proven in 2025 at the only set-up drilled uphill (with gold intersections at surface and all the way downdip for at least 290 metres). Several smaller sections were created where RC returned significantly wider intersections but at lower grade to core drilling. The average dip length for the 10 sections is 230 metres. True widths were used where the interpretation suggested an obvious change was required -- most drilling is thought to be close to true width otherwise. The weighted average sectional grade gives 0.72 g/t, with the two highest being 1.51 g/t and 1.07 g/t.

Using a simple weighted average of all 114 intersections gives 0.91 g/t over 12.8 metres. An assumed bulk density was used of 2.73 tonnes per cubic metre -- consistent with quartzite-hosted gold systems. Initial metallurgical cyanide leach testing gave 87.1 per cent to 93.2 per cent; at four kilometres north, Bema undertook open-pit mining and heap leaching (fully permitted) at Buffalo Gulch in the early 1990s, which was 95 per cent permitted again in 2023 by Endomines. The company cautions that mineralization and metallurgical results at Buffalo Gulch may not be indicative of mineralization or metallurgical results at the Baner property.

The company intends to conduct additional drilling and technical studies to evaluate whether sufficient data may be obtained to support a future mineral resource estimate.

Review by qualified person

Mike Sutton, PGeo, director and vice-president of exploration of the company, is the qualified person, as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this news release. The qualified person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Baner property, or any underlying property agreements.

About Legacy Gold Mines Ltd.

The company is a Canadian-based gold exploration and development company listed on the TSX Venture Exchange under the symbol LEGY. The company holds an option to acquire a 100-per-cent undivided interest in the mineral claims comprising the Baner gold mine property, located in Idaho county, Idaho, USA.

The Baner gold mine property sits within the historic Orogrande gold mining district that hosts numerous gold deposits and gold mines along geologic structures that have hosted gold production since Idaho's first gold rush in the late 1800s.

Additional information about the company and the property is available on SEDAR+ under the company's profile, including a technical report, titled "NI 43-101 Technical Report on the Baner Project, Idaho County, Idaho, USA," dated effective Aug. 1, 2024, prepared by Steven A. Osterberg, PhD, PG.

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