Gold Co. Finds High-Grade Nevada Growth Potential, Awaiting PEA

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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.

Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB) announced an updated Mineral Resource Estimate (MRE) for its Fondaway Canyon gold project located in Churchill County, Nevada, on April 30, 2026. Encapsulating both open put and underground mining, highlights of the MRE include:

• 21% Mineral Resource Estimate growth resulting from the addition of only 10 drill holes (3,400m (meters);
• 54% increase in Indicated Mineral Resource to 22.1 million tonnes at an average grade of 1.40 g/t Au for 999 Koz of gold;
• 8% increase in Inferred Mineral Resource to 45.6 million tonnes at an average grade of 1.25 g/t Au for an additional 1,812 Koz of gold;
• MRE Open Pit model expanded by 50-65m on strike and dip;
• Gold mineralization remains open for further expansion; and
• An updated Preliminary Economic Assessment has been initiated.

The 2026 MRE represents a significant expansion to the 2024 Mineral Resource Estimate, primarily due to the addition of 10 holes drilled in 2025 in the Central Area, FCG22-29 through FCG22-36, that intersected significant gold intervals and extended the mineralization. 

The company's press release underscored important information from previous results, including:

• The Mineral Resources Estimate is underpinned by data from 546 reverse circulation and diamond drillholes totaling 20,460m of drilling that intersected the mineralized domains.

• The mineral resource is reported at a lower cut-off of 0.3 g/t Au for the conceptual open pit and 1.5 g/t Au for the conceptual underground extraction scenario. The lower cut-off grades and potential mining scenarios were calculated using the following parameters: mining cost = US$2.75/t (open pit); G&A = US$2.00/t; processing cost = US$17.00/t; recoveries = 84%, gold price = US$3,000/oz; royalties = 1%; and minimum mining widths = 1.5 meters (underground) in order to meet the requirement that the reported Mineral Resources show “reasonable prospects for eventual economic extraction”.

• Original Au assays were composited to 1.5 m with 13,471 composites generated overall in the mineralized domains, including 11,548 composites generated for the Central Zone, 1,267 for the Mid-Realm / South Mouth Zone, and 654 for the Silica Ridge / Hamburger Hill Zone.

Mike Sieb, president of Getchell Gold, expressed how pleased the company was with the 2026 MRE. Sieb said, "1% Mineral Resource Estimate growth at the Fondaway Canyon gold project from 3,400 meters of drilling attests to the success of last year's program.  No less significant is the continued increase in the Inferred Mineral Resource alongside the dramatic 54% increase in the Indicated Resource.  The capacity of the Mineral Resource to increase across the resource classifications demonstrates the robustness of the deposit and the inherent ability for further growth. I am excited for the forthcoming PEA to highlight the economic potential at Fondaway Canyon."

Getchell Gold Corp. is a gold exploration company focused on its advanced-stage Fondaway Canyon project — a past producer with a large MRE.

Gold's Bull Market Holding Amid Global Conflict

Investors have been steadily watching conflict in the Middle East, concerned that rising oil prices will give way to unchecked inflation. Those fears have been causing wavering investment sentiments about gold, a traditionally safe-haven metal. However, investors are starting to calm. In a May 7, 2026, article, Kitco wrote: "Spot gold prices are firmer, and spot silver prices are sharply higher in early U.S. trading Thursday, supported by lower crude oil prices, a softer U.S. dollar, and lower Treasury yields as traders price in progress toward a U.S.-Iran deal that could reopen the Strait of Hormuz. At the time of writing, spot gold was trading near US$4,744.80 an ounce, up 1.17%."

This news comes as gold is in the middle of an unprecedented gold market. On May 5, Yahoo Finance wrote that, ". . . between March 2025 and March 2026, gold's price rose from US$3,019 to US$4,447 per troy ounce, a 47% increase." Contributing factors saw significant movement during the COVID pandemic, and with the weakening of the U.S. Dollar and geopolitical tensions, the metal saw a 65% increase in 2025 alone.

Investors are putting weight behind the tense ceasefire between the two nations despite reports over the weekend that hostilities from both countries had hit the Strait of Hormuz. Both the U.S. and Iran fired on each other's ships, though the U.S. has dismissed Iran's claim that missiles struck an American ship.

Analysts Hold, Waiting for Further Results

On April 30, 2026, Ben Pirie of Atrium Research reiterated a 'Buy' rating for the company, maintaining his recommended CA$1.10 price target. Pirie wrote, "While the 21% resource expansion is impressive and will add incremental growth to the ~10.5-year mine life outlined in the 2025 PEA, it is important to highlight that it was realized via 3,400m of drilling, which speaks to the resource growth potential that remains in this elevated gold price environment. In addition, we are encouraged that GTCH is pushing ahead with 2026 plans. . . Following this morning's impressive resource estimate, the updated PEA and comprehensive plan of operations are the next key items for the company this year, which we anticipate could accelerate Fondaway toward feasibility."

The Gold Advisor's Jeff Clark and Daniel Flynn weighed in on the company the same day, calling the MRE "encouraging reading". Clark and Flynn are also eager to receive the updated PEA, with Flynn saying, "The investment case here remains straightforward.

Execution is on track, the resource is growing, and the next catalyst — the PEA — has the potential to highlight an even larger disconnect between project value and market cap. At around a CA$35M market cap, that gap already looks significant."

A PEA on the Horizon

The company's investor presentation discusses near-term catalysts. The immediate goal is to update Fondaway's Preliminary Economic Assessment (PEA) using the 2026 MRE results. Getchell Gold will then complete further field studies at the site and file a comprehensive plan of operations with regulatory authorities to accelerate the property's development.

Ownership & Share Information¹

Getchell Gold Corp. has a market cap of CA$58.44 million, with 201.31 million shares outstanding. The company's 52-week range is CA$0.17-CA$0.47.

Management & Insiders own 12.75% of shares, and the remaining 87.25% of shares are held by Retail.