QGold Initiates 2026 Drilling Campaign at Mine Centre

TORONTO, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Q-Gold Resources Ltd. ("QGold" or the "Company") is excited to announce the start of its 2026 drilling campaign at its Mine Centre Gold Project in Ontario. The planned program will initially focus on targets around the Foley Mine, extending the known veins along strike and dip. A second phase planned for soon after the completion of the initial phase will follow up on the high-grade soil samples achieved during the Company’s summer field mapping and sampling campaign (see the Company’s press release dated September 14, 2026, a copy of which is available under the Company’s SEDAR+ profile at www.sedarplus.ca).

Highlights:

• QGold’s 2026 drilling program commenced on September 12, 2026 (Fig. 1).
• The initial phase will target mineralised vein systems approximately 500 m northeast of the Foley Mine, as well as the South Foley area, where drilling is designed to expand the known mineralised zone along strike to the south (Fig. 2).
• The first four planned holes are completed at the Zinc and Twin vein targets in the area south of the historic Foley Mine, and the next holes in the planned drilling program have already been started (Fig. 2).
• The second phase will focus on further expansion of the South Foley mineralised system. Additionally, drilling will test priority showings further to the northeast of the Foley Mine identified during the 2026 summer field program, including areas where high-grade surface gold samples were collected.
  
  

QGold has commenced its planned drilling program targeting the Zinc and Twin veins (Fig. 3) and the area south of the historic Foley Mine, where the Bonanza, Jumbo, Vowel, Lucky Joe, Daisy and Foley South veins converge within a few hundred metres of one.

Observed vein widths range from approximately 0.3 metres to several metres. In addition to testing the wider veins, the program will systematically log, map and model smaller, potentially gold-bearing veinlets. This work will improve the understanding of the geometry, distribution and continuity of the vein system and help assess the contribution of these veinlets to the broader mineralised system.

Should drilling confirm sufficient gold grades and continuity across the principal veins and surrounding veinlet network, the results could warrant evaluation of an open-pit mining concept instead of a conventional underground mining option. The suitability of either approach would remain subject to further technical and economic assessment. The additional drilling information and updated geological modelling are intended to support an initial mineral resource estimate for the Foley Mine area, subject to sufficient data quality, drill coverage and demonstrated geological and grade continuity.

Further north, QGold plans to undertake exploratory drilling to follow up on elevated gold values returned from soil sampling near the historical Ferguson showing (Fig. 4).

“We are excited to have resumed drilling in the vicinity of the Foley Mine,” said Dr. Andy Rompel, chief operating officer of the Company. “This phase of the program will follow up on encouraging grab sample results south of the Foley shaft and build on the substantial exploration database already established in this area. Our objective is to advance the project towards an initial mineral resource estimate early next year.

The second phase of this year’s drilling program will test additional exploration targets farther north, following up on promising grab sample results from historic veins in the vicinity of the Manhattan vein and Golden Star Mine, where historical workings date back to the first half of the twentieth century. This work will help us assess the potential to identify additional zones of gold mineralisation beyond the immediate Foley Mine area.”

Figure 1: Drill rig at the Zinc vein drilling hole Q26-27.

Figure 2: Initial planned diamond drill holes in the area south of the historic Foley Mine (light blue pins).

Figure 3: Showing all the thicker veins that converge in the area south of Foley Mine.

Figure 4: High-grade soil samples in the vicinity of the Ferguson showing will be followed up by diamond drilling as part of the planned program.

About Q-Gold Resources Ltd.

Q-Gold Resources Ltd. is a Canadian gold development and exploration company focused on advancing high-quality gold assets in North America. The Company is led by the Quartz Mountain Gold Project in Oregon, USA - a large-scale gold development project with strong economics, long-term scalability and district-scale exploration potential.

QGold remains focused on disciplined project advancement, responsible resource development and long-term shareholder value creation through the development and exploration of high-quality North American gold assets.

Qualified Person

Jason Arnold, P.Geo., President of DCX Geological Consulting is a Qualified Person as defined by NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release. Jason Arnold, P.Geo. is a consultant of the company and is not independent of the Company within the meaning of NI 43-101 - Standards of Disclosure for Mineral Projects.

For further information, please contact:
Peter Tagliamonte
Chairman & Chief Executive Officer
Cell: +1 (416) 564-2880
Q-Gold Resources Ltd.
info@qgoldresources.com | www.qgoldresources.com

Cautionary Statements

This press release contains forward-looking statements, including, but not limited to, statements regarding the Company's planned summer 2026 exploration campaign at the Mine Centre Gold Project (including anticipated drill targets), establishing a mineral resource estimate at the Foley Mine area in early 2027, anticipated field mapping, channel sampling and diamond drilling activities, the potential identification, delineation and prioritization of additional exploration targets, future drilling, exploration results, project advancement, corporate objectives, plans to advance its gold exploration and development platform. Forward-looking statements are based on management's current expectations, assumptions and beliefs and are subject to known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such statements, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages; and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate and actual results and future events may differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable securities laws.

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.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/80a7b289-7b5c-4c4c-b97e-c85633487737

https://www.globenewswire.com/NewsRoom/AttachmentNg/8712b69c-d271-49b0-973c-ec91eda9825a

https://www.globenewswire.com/NewsRoom/AttachmentNg/5a07bbc3-cbf2-4a43-90a9-00ade5fbf24d

https://www.globenewswire.com/NewsRoom/AttachmentNg/fe5774b9-bb5a-4040-b05a-5bcf39870bfb