Exploration Company Reports 56m Gold Intercept at Liberia Flagship Project

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1. Disclosure for the quote from the Stewart Thomson article published on May 20, 2026

1. For the quoted article (May 20, 2026), Zodiac Gold Inc. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
2. Author Certification and Compensation: Stewart Thomson was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Thomson is a retired Canadian financial advisor who has passed the Canadian Securities Course as well as additional technical analysis courses that were mandated by his former employer and approved by Ontario regulatory bodies. For the past 15 years, he has been editing and writing numerous financial newsletters that have a strong focus on charts.  The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

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2. 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.

Zodiac Gold Inc. (ZAU:TSX.V; ZAU:XFRA; ZAUIF:OTCQB) reported significant drill results on May 26, 2026, confirming positive trenching results that confirm a new priority target at its ongoing exploration of the Ben Ben to Youth Camp area of its Todi Gold project in Libera. Broad intercepts from trenching have delineated a high-priority 700-meter-long and up to 56-meter-wide northwest-trending zone on the Ben Ben North area, with potential for extension in both directions. Standout results of 56m at 0.40 g/t Au (gold) with multiple samples above 1g/t Au caused Zodiac to immediately mobilize for at-depth testing of the following trenches:

• Trench BBT004: 56m at 0.40 g/t Au, including 1m at 1.21 g/t Au, 1m at 1.17 g/t Au, 1m at 1.09 g/t Au, and 1m at 1.01 g/t Au.
• Trench BBT009: 54m at 0.20 g/t Au.
• Trench BBT010: 26m at 0.28 g/t Au, including 1m at 1.59 g/t Au, and 6m at 0.28 g/t Au.
• Trench BBT012: 21m at 0.26 g/t Au and 30m at 0.22 g/t Au.

The Ben Ben results enhance the potential for a district-scale gold system along the 16km Arthington to Youth Camp areas (now called the Monterra Trend), which already includes 37 of 39 drill holes in the Arthington discovery where gold has been intersected. The continuous zones encountered higher-grade mineralization at surface and could represent an upper expression of higher-grade, robust, hydrothermal mineralized system at depth.

The company's press release said: "The new northwest-trending mineralized zone identified in trenching, with a strike length of 700m within the Monterra Trend, and consists of weathered amphibolite and gneiss units dipping south to southwest, reinforcing the interpretation that Ben Ben North shares the same geological setting as the Ben Ben South area and the Arthington discovery. These host rocks are known to be highly prospective, and the extensive, deep-seated shearing of the regional-scale Todi Shear Zone has optimized the interaction of gold-rich fluids with the amphibolite and gneiss package found along the overall 16km trend."

Ben Ben South continues to be drilled by a second drill rig, where broad mineralized zones have also been found. David Kol, CEO of Zodiac, said, "Following the announcement of our initial drilling results in the Ben Ben South area, delineating another target with a strike length of 700 meters and widths up to 56 meters provides us with an excellent starting point for drilling in the Ben Ben North area. What is particularly encouraging is the scale and continuity of the mineralization we are seeing at surface. These broad mineralized zones show the potential for a large hydrothermal system and may represent the upper expression of higher-grade mineralization at depth."

Kol went on to say, "The consistency of mineralization across multiple trenches, combined with higher-grade intervals within the broader envelopes, gives us increasing confidence that we are defining a significant district-scale gold system. With two rigs active and the potential to add a third, our 2026 program is designed to systematically test the Monterra Trend across the 16-kilometer corridor from Arthington to Youth Camp. First holes at Ben Ben North are underway, follow-up drilling continues at Ben Ben South, and complementary drone magnetic and LiDAR data will refine targeting on the remaining drill-ready areas. With steady news flow expected through the balance of the year, we believe the coming months will be a defining period for the Todi Gold Project."

Zodiac Gold Inc. is a West-African gold exploration company focused on the Todi Gold Project in Liberia. The company asserts that Liberia is a politically stable, mining-friendly country with an expedited permitting process and strong political and social support for mining companies.

Gold Slightly Depressed but Still Strong

As of the morning of May 26, gold prices had fallen 0.7% to US$4,547.10 per ounce, though gold futures for June remained unchanged at US$4.536.80. American strikes on Iranian territory are partially responsible for the slight decline of this safe-haven asset, pushing Brent crude oil prices higher and spiking inflation worries over U.S. interest rates. An end to the Iran-U.S. conflict would be welcome news for investors who have been watching the market bounce up and down for the first few months of 2026, but the market seems resilient.

In April, S&P Global wrote, "Gold is expected to remain volatile but structurally supported, with central bank demand and geopolitical risk helping to establish a price floor above recent correction lows."

Despite the volatility of gold, the sector as a whole is only showing signs of improvement. On May 7, 2026, Brian Taylor of Recycling Today said that the World Bank Group has predicted that overall global metals prices will rise by 17% in 2026, which would mark the first overall market increase since 2022.

Analyst Sees Major Potential

¹On May 20, 2026, technical analyst Stewart Thomson gave Zodiac a "Speculative Buy" rating, with a short-term price target of CA$0.45, a medium-term price target of CA$0.75, and a long-term technical price target of CA$1.00.

Thomson noted that ". . . early results appear to highlight significant potential for the project."

Drill Targets Being Refined

So far, 3,600m of trenching and 14,000m of diamond drilling is being completed as part of the Zodiac's 2026 exploration strategy targeting the 16km Monterra Trend from the Arthington discovery to Youth Camp. In addition, a drone-based magnetic and LiDAR survey is underway to further refine drill targeting and support a planned Mineral Resource Estimation (MRE) for late Q4 2026.

In H2 2026, the company will also follow up on the current soil geochemical program (10,500 samples) in its Bomi South and Bong West licenses, with potential for mapping, trenching, and drilling as warranted. 

Ownership & Share Information²

Zodiac Gold Inc. has a market cap of CA$52.13 million, with 161.63 million shares outstanding. The company's 52-week range is CA$0.05-CA$0.44.

Management & Insiders own 33% of shares, while Institutions own 9%. The remaining 58% of shares are held by Retail.