Nevada Gold Target With 9.2 m @ 3.2 g/t Hit Advances to Major 10,000-Meter Drill Program

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Eminent Gold Corporation (EMNT:TSXV; EMGDF:OTCQB; 7AB:FSE) announced that it has signed a drilling contract with Nevada-based Alford Drilling LLC to conduct a reverse circulation drilling program at the Otis target within its 100% owned Hot Springs Range Project in Nevada. The program is planned to include a minimum of 5,000 meters and up to 10,000 meters of drilling and is expected to begin on or around April 15, 2026.

The drilling campaign will focus on testing extensions of mineralization identified in earlier drilling and evaluating previously untested areas. According to the announcement, the program will target extensions of mineralized zones and nearby fault intersections.

Reverse circulation drilling is expected to provide quicker turnaround on results and a lower cost per meter compared with previous core drilling methods. The company stated that it plans to utilize photon assaying as an alternative to fire assays to accelerate assay reporting.

The drilling program follows earlier exploration at the Otis target, including diamond drill hole HSC005, which intersected 9.2 meters grading 3.2 grams per ton gold, as previously reported in a January 6, 2026, news release. The announcement stated that positive shaker leach tests support visual indications that the mineralization type is oxide.

"We are very excited to commence this discovery-expansion RC drill program at Otis," said Dan McCoy, President and CEO, in a company news release. "Not only will it build on our recent breakthrough intercepts, but we will also get to test nearby fault intersections that are similar in orientation to gold-bearing fault intersections at the nearby Getchell Trend."

The company also stated that it is working with Steve Alford of Alford Drilling, who has 48 years of experience in Nevada. McCoy added that members of the company's technical team have previously drilled with Alford Drilling and reported that the company operates with an award-winning safety culture.

According to the announcement, assay work on samples from the intercept was conducted by Paragon Geochemical in Reno, Nevada, using both fire assay and shaker leach testing methods. The results from the two methods yielded comparable results and were supported by a quality assurance and quality control program that included blanks, standards, and duplicates.

Macroeconomic Pressures and Geopolitical Developments Influence Gold Market Conditions

Richard Mills of Ahead of the Herd wrote on March 15 that several macroeconomic forces were shaping the environment for gold prices. He stated that "inflation, higher interest rates and a strong dollar are bad for gold prices. On the other hand, war, geopolitical stress, bad job reports, and stagflation are good for gold." Mills added that "the consensus on gold prices for 2026 is cautiously bullish, with many analysts expecting the precious metal to consolidate at higher levels."

The report also discussed the role of central bank activity in supporting demand for gold. Citing World Gold Council data, Mills wrote that "net central bank gold demand increased to 230 tonnes in the fourth quarter of 2025, up 6% from 218t in the previous quarter." The report noted continued accumulation by emerging market institutions, stating that "emerging market central banks continue to buy gold to diversify away from the US dollar, providing a solid floor for the price."

Geopolitical developments were also highlighted as a continuing influence on investor sentiment. Mills wrote that ongoing conflicts and global tensions were shaping attitudes toward hard assets, stating that "ongoing conflicts and the 'de-dollarization' trend are viewed as long-term, irreversible changes that favor hard assets." He also discussed broader economic pressures tied to rising energy costs and geopolitical risks, describing an environment in which the global economy faced increased risks of "stagflation lite" characterized by higher inflation and slower growth.

Market analysts also addressed the near-term effects of geopolitical developments on precious metals prices. In a March 16 market update, Coulior Capital reported that "gold prices ended lower by 2.9% during the week as the Iran conflict has driven oil prices higher and strengthened the U.S. dollar, raising concerns that inflation may remain elevated." The firm added that these dynamics reduced expectations for near-term Federal Reserve rate cuts and pushed Treasury yields higher, which "weighed on demand for non-yielding assets such as gold."

Chen Lin of the What's Chen Buying? What's Chen Selling? newsletter also commented on the geopolitical backdrop on March 16, describing broader implications tied to the conflict involving Iran. He stated that "this war will have a profound impact on the world and will have a huge impact on oil prices for years to come." Lin added that despite near-term disruptions in physical markets, "gold will benefit in the long run," while noting that "in the short term, there is chaos in the Mideast."

Lin also pointed to developments in regional gold markets during the conflict, writing that "Mideast is a big gold hub and rumors are dealers are selling gold at discount to raise cash." He further observed that gold prices were testing new levels under current conditions, stating that "gold is testing 5000 this week and there is a good chance 5000 will break," while noting that many mining plans continue to rely on lower price assumptions.

Upcoming Eminent Exploration Work

The company outlined several exploration activities scheduled for 2026. The reverse circulation drill program at the Otis target is expected to test extensions of mineralized zones as well as additional structures in the area. The program includes a minimum of 5,000 meters and up to 10,000 meters of drilling.

According to the company's investor presentation, follow-up geophysical work is planned at the Hot Springs Range Project. A seismic survey is planned at the Eden target to refine drill targeting, and additional seismic work at the Otis area is planned to help define deeper structures. The company also plans core drilling at the Eden target to test key structures.

The investor presentation also outlines plans to expand exploration work later in the year. In the third quarter of 2026, the company plans to launch a maiden drilling program at the Celts Project in Nevada, which the presentation describes as an analogue to the Silicon gold discovery.

Ownership and Share Structure¹

8.76% of Eminent Gold is held by management and insiders. Of them, Michael Kosowan holds the most with 6.5%. Strategic Entities hold 19.3% with Kinross Gold holding 13.8% and Milliard Geological Consulting owning 9.59%. The rest is retail. 

Eminent Gold has 82.26 million outstanding shares, 34.59 million free float shares, and a market capitalization of CA$48.5 million. Its 52-week range is CA$0.28 to CA$0.87.