Ms. Sophy Cesar reports

UPSIDE GOLD HIGHLIGHTS RESULTS OF HISTORIC DATA COMPILATION AT THE KENA GOLD-COPPER PROPERTY

Upside Gold Corp. has provided a progress update for its 10,115-hectare (ha) Kena gold-copper property, located in southeastern British Columbia, focusing on the continuing compilation work of historical exploration for the property.

The compilation of digital exploration data was supported and verified through the review of selected historical analog documentation and fieldwork completed during 2025. This work involved reviewing and organizing the property's geological, geochemical and geophysical survey database from exploration conducted from 1974 to the present, resulting in an updated the digital 3-D exploration model for the property.

"This compilation work has significantly improved our understanding of the Kena mineralized system," said Dr. Trevor Boyd, vice-president, exploration, of Upside Gold. "Integrating decades of exploration data into a modern 3-D model is helping us identify areas where mineralization may extend beyond the historic resource and focus our 2026 drilling on the most promising expansion targets."

Kena property drill hole database

During the compilation of the property drill hole database, it became evident that its 24,200 core samples largely recorded only Au (gold) geochemical results, even though over 90 per cent of the historical drilling included multielement analytical analyses. As part of the program, minor and accessory elements were reviewed, and silver and copper results were systematically extracted from the compiled digital and analog analytical certificates, and added to the master drill hole database. This was conducted to achieve a fuller understanding of the geochemical character and potential metal value of the mineralized material on the property.

The compilation identified a wide range of copper and silver concentrations both within and outside the historical mineral resource*. Copper values reach up to 71,800 parts per million (ppm), with more than 2,900 samples exceeding 500 ppm copper (Cu), while silver values reach up to 145 ppm, with over 2,650 samples exceeding one ppm for silver (Ag). These results occur within a drill hole database containing 6,300 samples grading greater than 0.25 gram per tonne (g/t) gold (Au), with samples widths ranging from 0.5 to six metres and averaging 1.87 metres. Based on a preliminary review, the addition of copper and silver data to the database is expected to demonstrate the potential for significant additional value within the project.

Compilation of Kena property historical exploration

The integration of the mapped geology and structural interpretation with the geophysical survey results supports the conclusion that mineralization at Kena is being predominantly structurally controlled by a major steeply dipping, southeast-trending hydrothermally altered fault zone known as the Kena deformation zone. This structure marks the contact between the Silver King porphyry intrusive and Elsie Group intermediate volcanic rocks, and is characterized by a dominant low magnetic signature that can be traced for at least 11 kilometres along strike, into the southern half of the property as illustrated in the company's Feb. 3, 2026, news release. Flanking gold-copper bearing intermediate to felsic porphyry intrusive bodies exhibits variably higher magnetic signatures.

Induced polarization (IP) surveys covering much of the northern portion of the property, identify zones of high chargeability and low resistivity that support the definition of the disseminated pyrite-hosted mineralization both within the four-kilometre strike Kena lode gold body and for at least an additional three kilometres, along strike to the southeast, suggesting a total strike length of at least seven kilometres, and defining similar anomalies laterally along the northeastern margin of the deposit.

Sporadic historical drilling of these anomalies outside the Kena historical mineral resource* to date has returned wide intervals of both lode and porphyry-style gold and copper mineralization, including at or near surface of 117 metres of 0.22 per cent Cu and 0.14 g/t Au, 88.69 metres of 0.13 per cent Cu and 0.21 g/t Au, 210 metres of 0.17 per cent Cu and 0.13 g/t Au, and 106 metres of 0.15 per cent Cu and 0.18 g/t Au within the Kena copper zone, as well as 90 metres of 0.9 g/t Au and 115 metres of 0.67 g/t Au and 0.05 per cent Cu in the adjacent South gold zone.

The addition of the extensive historical soil survey database to the exploration model, covering similar to the IP surveys, is consistent with the current geological model. Copper and gold geochemical anomalies are spatially associated with favourable IP and magnetic signatures. High soil gold anomalies also cover broad areal expanses southwest of the Kena lode gold body, consistent with geological interpretation that mineralization is associated with open, variably southwest-dipping high-grade shoots connected by low-grade gold-bearing halos that extend southwestward at depth beyond the boundaries of the Kena historical mineral resource*. The resultant integrated 3-D exploration model supports the open-ended historical drilling intersects remain open laterally, along strike and at depth beyond the defined Kena historical mineral resource*

Summary

As summarized in, and as a follow-up to, the Upside Gold Feb. 3, 2026, news release, the results of the compilation and integration of the database support the conclusion by the company that a major gold-copper mineralized system exists within the Kena gold-copper property that extends beyond the boundaries of the presently defined lode gold body, and remains open both laterally, along strike and at depth. In particular, favourable geological, geochemical and geophysical signatures immediately to the northeast and southeast support the presence of major surface to near-surface Cu-Au porphyry bodies that require detailed diamond drilling and have potential to add considerable volumes of mineralized material to the project.

The majority of the first priority gold-copper diamond drill targets for 2026 will focus on testing along strike to the southeast within the Kena copper zone, with the goal of demonstrating sufficient continuity and grade to define a second major mineralized zone on the property. In addition, the work supports the belief that the precious metal and copper mineralized system also extends across much of the southern half of the property, which has never undergone diamond drilling or detailed exploration.

The Kootenay region of southeastern British Columbia has been largely overlooked for gold and copper exploration in the past, and as such, offers opportunities for both new discoveries and the development of known historical prospects into viable mineralized bodies.

The information in this news release has been reviewed and approved by Trevor Boyd, PGeo, vice-president, exploration, of the company and a qualified person for the technical information under National Instrument 43-101 standards.

About Upside Gold Corp.

Upside Gold is a Canadian gold-copper exploration company that has entered into an option agreement to acquire a 100-per-cent interest in the Kena gold-copper project, located in southeastern British Columbia, approximately seven kilometres southwest of Nelson. The Kena project consists of 198 mineral claims covering 10,114.8 hectares, together with 11 Crown grants covering approximately 92 hectares.

The company is focused on advancing the Kena gold-copper project through systematic exploration and drilling programs.

* The Kena project hosts a historical gold resource comprising an indicated mineral resource of 32,146,000 tonnes at an average grade of 0.544 g/t Au for 561,000 ounces of gold and an inferred mineral resource of 177,507,000 tonnes at an average grade of 0.486 g/t Au for 2.77 million ounces of gold. The historical resource estimate is disclosed in the technical report, entitled "NI 43-101 Resource Estimate for the Kena and Daylight Properties," prepared by Sue Bird, PEng, of Moose Mountain Technical Services, dated May 3, 2021, and filed on SEDAR+ on behalf of West Mining Corp.

A qualified person, as defined by National Instrument 43-101, has not done sufficient work to classify the historical estimate as current mineral resources and Upside Gold is not treating the historical estimate as current mineral resources. The historical estimate is provided for information purposes only and should not be relied upon.

To upgrade the historical estimate as current mineral resource additional drilling needs to be completed. The historical estimate uses the categories set out in Section 1.2 of the NI-43-101. The parameters and assumptions used are outlined in Bird 2021 and are provided as follows:

1. Resources are reported using the 2014 CIM definition standards and were estimated using the 2019 CIM best practices guidelines.
2. Mineral Resources that are not mineral reserves do not have demonstrated economic viability.
3. The mineral resource has been confined by a "reasonable prospects of eventual economic extraction" pit using the following assumptions: $2,000 (U.S.) per ounce (oz) Au at a currency exchange rate of 77 U.S. cents per $1 (Canadian); 99.95 per cent payable Au; $4.30 per oz Au offsite costs (refining, transport and insurance); a 3-per-cent net smelter return (NSR) royalty; and uses a metallurgical recovery of 88 per cent for gold.
4. Pit slope angles are assumed at 45 degrees.
5. The specific gravity of the deposit has been assigned as 2.8 based on specific gravity measurements in the Kena deposit.

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