Star Gold Reports US$87M PEA for Longstreet Gold-Silver Project in Nevada

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3. Cori Fisher wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
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1. Disclosure for the quote from the John Newell article published on March 6, 2026

1. For the quoted article (published on March 6, 2026), Star Gold Corp. has paid Street Smart, an affiliate of Streetwise Reports, US$3,500.
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). 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.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

2. Disclosure for the quote from the Stewart Thomson article published on April 27, 2026

1. For the quoted article (published on April 27, 2026), Star Gold Corp. 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.

3. 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.

Key Takeaways

• Star Gold Corp. released a PEA for its Longstreet Gold-Silver Project in Nevada, outlining a pre-tax NPV of US$87 million.
• The study estimates the project could produce about 88,600 ounces of gold and 354,700 ounces of silver over its mine life.
• Longstreet's proposed operation would process about 5,500 tons of ore per day, with average annual gold production of about 20,000 ounces.
• Star Gold's 2026 exploration program includes drilling, hydrologic work, and a first deep hole at the Opal Ridge target.
• The company expects the 2026 work to help update the project's mineral resource and advance engineering and permitting studies.

Longstreet PEA Outlines Proposed Gold-Silver Operation

On September 22, 2026, Star Gold Corp. (SRGZ:OTCQB) released the results of a Preliminary Economic Assessment (PEA) for its 100%-owned Longstreet Gold-Silver Project in Nye County, Nevada. The PEA outlines a base-case pre-tax net present value (NPV) of US$87 million at a 5% discount rate, with a 48% internal rate of return (IRR) and a 1.7-year payback period, based on gold prices of US$3,600 per ounce and silver prices of US$48 per ounce. The after-tax NPV is estimated at US$67 million, with a 40% IRR and a 1.8-year payback period. In a sensitivity case using US$4,000 per ounce gold and US$60 per ounce silver, the study estimates a pre-tax NPV of US$122 million and a 63% IRR.

The company aims to process approximately 5,500 tons of ore per day, with an estimated mine life payable production of 88,587 ounces of gold (Au) and 354,701 ounces of silver (Ag). Average annual payable gold production is estimated at approximately 20,000 ounces, with peak annual production of 31,000 ounces. The study estimates total cash costs of US$1,617 per ounce of gold and all-in sustaining costs of US$1,729 per ounce, with initial capital, including working capital, of approximately US$70 million. Gold and silver recoveries are estimated at 84% and 13%, respectively.

The PEA mine plan includes approximately 6.55 million tons of ore containing 105,461 ounces of gold. The total resource includes 11.1 million tons containing 132,414 ounces of gold and 4.84 million ounces of silver. The company said its 2026 work program, which has been authorized by the U.S. Forest Service and Bureau of Land Management, includes resource-expansion and metallurgical drilling, hydrologic wells, and a first deep hole at the Opal Ridge target. Results are expected to support an updated Mineral Resource Estimate (MRE), further engineering studies, and the Environmental Impact Statement pathway toward a potential production Plan of Operations.

"This PEA confirms what we have believed for years: Longstreet can be a simple, low-strip, oxide heap-leach mine with rapid payback in today's gold price environment," said Lindsay Gorrill, President and CEO of Star Gold. "The study is built on decades of metallurgical work and a mine plan that uses only a portion of the known mineralization. What matters just as much is what is not in the PEA pit — Opal Ridge, North, Cyprus Ridge, Red Knob, and other surface targets across our 2,600-acre land package. Most of those zones have never been drilled at depth. This summer's program includes the first deep test of Opal Ridge. We believe that Longstreet is not a single hill. It is the start of a district."

According to the release, Star Gold noted that the PEA is preliminary in nature and includes Inferred mineral resources that are considered too speculative to have economic considerations applied to them for classification as mineral reserves. The company cautioned that there is no certainty that the PEA will be realized, and that mineral resources are not mineral reserves and do not demonstrate economic viability. The PEA is available to view here. 

Star Gold Corp. is a U.S.-based gold and silver exploration company developing assets along the proven Walker Lane Belt in Nevada. The company's 100%-owned Longstreet Project spans approximately 2,600 acres, comprising 137 unpatented mining claims and five additional unpatented claims held under lease with an option to purchase.

Gold Prices Remain Elevated in 2026

Gold prices remained above US$4,300 per ounce on September 21, 2026, with Kitco's live gold price showing a spot bid of approximately US$4,340 per ounce during afternoon trading. The price remained below the metal's 2026 record of US$5,589.38 per ounce, reached in January, but represented a substantial increase from historical levels. Kitco also reported that gold prices had rebounded following recent volatility tied to U.S. interest rates, Treasury yields, and oil prices.

The elevated price environment has contributed to significant growth in the value of the global gold market. The World Gold Council reported that total gold demand, including over-the-counter activity, reached 2,522 tonnes during the first half of 2026, up 2% year over year, while the value of that demand increased to a record US$380 billion. The LBMA gold price averaged US$4,506.29 per ounce during the second quarter, 37% higher than the year-earlier average. Investment demand and central-bank purchases remained important components of the market, although higher prices continued to weigh on jewelry consumption.

Trading Economics' gold market data showed gold at about US$4,383 per ounce on September 19, following a gain of roughly 1% for the session. Its September 21 market commentary noted that gold was holding above US$4,350 per ounce after two consecutive sessions of gains, with falling oil prices easing concerns about inflation and additional interest-rate increases. The market continues to be influenced by monetary policy, inflation expectations, currency movements, and geopolitical developments.

Analysts Comment on Star Gold's Exploration and Share Performance

¹In a March 6, 2026, contributed technical analyst opinion piece for Streetwise Reports, John Newell of John Newell & Associates weighed in on Star Gold's stock. He said, "The chart for Star Gold is beginning to show the kind of structure technicians often watch for after a long period of neglect. Following years of quiet trading during the junior mining bear market, the shares appear to have built a broad accumulation base. These long bases are important because they represent a gradual transfer of stock from discouraged holders into stronger hands willing to wait for the next cycle."

Newell argued that the stock has been largely ignored but has historically attracted strong buying interest during rallies, saying, "If the shares can establish a sustained move above the US$0.18 level, the chart begins to suggest a potential advance toward the US$0.40 area, which represents the next logical technical objective based on the stock's historical trading structure."

²In a separate contributed technical analyst opinion, Stewart Thomson gave his opinion of the company on April 27, 2026. Thomson gave the stock a "Strong Speculative Buy" rating and said that it ". . . volume has been this high before, but not consistently, as it is now." Thomson went on to give Star Gold a short-term price target of US$0.20 and a long-term price target of US$5.40, noting that "given the consistent outperformance of Star Gold during CDNX rallies, high long-term price targets for the stock are reasonable considerations."

Star Gold Advances Longstreet Exploration and Permitting

The final permit to begin production for the Main resource site is expected in Q3 or Q4 of 2027.

Ownership & Share Information³

Star Gold Corp. has a market cap of US$32.73 million, with 204.54 million shares outstanding. The company's 52-week range is US$0.01-US$0.21.

Strategic Investors own 15.63% of shares, while Management & Insiders own 19.80%. The remaining 64.57% of shares are Retail.

Frequently Asked Questions

Q: What is a Preliminary Economic Assessment?

A: A Preliminary Economic Assessment, or PEA, is an early-stage economic study used to evaluate the potential economic development of a mineral project. A PEA is preliminary in nature and does not establish that a project is economically viable.

Q: What did the Longstreet PEA estimate?

A: The base-case PEA estimates a pre-tax NPV of US$87 million at a 5% discount rate, a 48% IRR, and a 1.7-year payback period. The after-tax NPV is estimated at US$67 million, with a 40% IRR and a 1.8-year payback period.

Q: What metal prices were used in the PEA?

A: The base-case study used a gold price of US$3,600 per ounce and a silver price of US$48 per ounce. The study also included a conservative metals-price scenario.

Q: How much gold and silver could Longstreet produce?

A: The PEA estimates mine-life payable production of approximately 88,587 ounces of gold and 354,701 ounces of silver. Average annual payable gold production is estimated at approximately 20,000 ounces, with peak annual production of about 31,000 ounces.

Q: How much ore would the proposed operation process?

A: The PEA mine plan assumes processing approximately 5,500 tons of ore per day.

Q: What are the estimated costs for the Longstreet project?

A: The study estimates total cash costs of US$1,617 per ounce of gold and all-in sustaining costs of US$1,729 per ounce. Initial capital, including working capital, is estimated at approximately US$70 million.

Q: What is an all-in sustaining cost?

A: All-in sustaining cost, or AISC, is a mining cost metric intended to capture the ongoing costs associated with producing a unit of metal, including sustaining capital expenditures and certain other operating costs. It is commonly reported on a per-ounce basis for gold projects.

Q: What resources does Longstreet have?

A: The PEA mine plan includes approximately 6.55 million tons of ore containing 105,461 ounces of gold. The total resource cited in the study contains approximately 11.1 million tons with 132,414 ounces of gold and 4.84 million ounces of silver.

Q: Are the Longstreet resources classified as reserves?

A: No. Star Gold specifically cautioned that the PEA includes Inferred mineral resources, which are considered too speculative to have economic considerations applied to them for classification as mineral reserves. Mineral resources are not mineral reserves and do not demonstrate economic viability.

Q: What is an inferred mineral resource?

A: An Inferred mineral resource is a mineral-resource classification based on limited geological evidence and sampling. Because the level of geological confidence is lower than for Indicated or Measured resources, Inferred resources cannot be used to establish mineral reserves in the same way as higher-confidence resource categories.

Q: What is the next exploration work planned at Longstreet?

A: Star Gold's authorized 2026 work program includes resource expansion and metallurgical drilling, hydrologic wells, and a first deep drill hole at the Opal Ridge target.

Q: What is a Mineral Resource Estimate?

A: A Mineral Resource Estimate, or MRE, is a technical estimate of the quantity and grade of mineralization within a defined deposit. An updated MRE can incorporate additional drilling, sampling, geological interpretation, and other technical information.

Q: What is the difference between a PEA and a feasibility study?

A: A PEA is an early-stage assessment of a project's potential economics and development concept. A feasibility study is generally more advanced and detailed, using more developed engineering, cost, technical, and operational information to evaluate whether a project can support a potential development decision.

Q: What is the expected production timeline for Longstreet?

A: Star Gold expects the final permit to begin production at the Main resource site in Q3 or Q4 2027. The timing remains subject to permitting and other development requirements.

Q: What role does gold play in the Longstreet project?

A: Gold is the primary metal in the PEA's production profile, with approximately 88,587 ounces of payable gold estimated over the mine life and average annual payable production of approximately 20,000 ounces.

Q: Why is silver relevant to the project?

A: Silver is a secondary metal in the Longstreet PEA, with estimated mine-life payable production of approximately 354,701 ounces. Silver can contribute to project economics alongside gold when it is recovered and sold as a payable metal.