New Zone Links High-Grade Gold Targets in British Columbia

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1. Ownership and Share Structure Information

Ownership percentages, named holders, share count, market capitalization, and the 52-week range for Endurance Gold were compiled from company public filings and investor materials, exchange notices, insider-trade reports (SEDI / equivalent), and third-party data providers. Figures are as of 2026-11-11 unless a source was dated earlier. Pie slices are normalized to 100% of basic shares outstanding; retail is the residual after disclosed institutions, management, insiders, and strategic holders. Warrant terms are current outstanding series only. Restructures are historical consolidations, splits, and symbol or name changes. Insider buying and selling covers open-market trades from the prior six months through 2026-11-11 and excludes option exercises. These are public-source estimates and can differ from a later official register.

• All five new holes at Endurance Gold's Reliance Gold Project in British Columbia hit gold and antimony mineralization outside the project's 1.45-million-ounce Inferred resource.
• Drilling found a new zone, the Crown Connector, about 125 meters up-dip of the Lower Imperial Zone. It fills a 300-meter undrilled gap between the Lower Imperial and Crown zones.
• Hole DDH26-143 returned 7.79 grams per tonne gold and 0.26% antimony over 4.1 meters, including 48.30 g/t gold over 0.6 meters, plus wide intervals of 29.5 meters and 22.7 meters.
• All 18 holes reported this year have hit mineralization outside the resource. The 10,505-meter diamond drill program is complete, and more assays are pending.
• Atrium Research maintained a Buy rating and a CA$0.90 target, implying a 165% return at the time. The firm noted Endurance trades at about US$28 per ounce of gold in the ground, compared with a peer average of about US$137.60.
• Reliance also hosts antimony, a critical mineral facing a November 27 deadline on China's suspended export ban to the U.S.

Endurance Gold Corp. (EDG:TSX.V; ENDGF:OTCQB; 3EG:FSE) said all five holes in its latest round of drilling at its Reliance Gold Project in British Columbia hit gold and antimony mineralization outside the project's current resource, according to a November 10 release. The drilling also found a new zone that connects two of the project's main gold areas.

The new zone, called the Crown Connector, sits about 125 meters up-dip of the Lower Imperial Zone. It fills a 300-meter undrilled gap between the Lower Imperial and Crown zones. The company said that provides mineralized continuity between the two zones, and more evidence of continuous, stacked mineralized structures in the footwall of the Royal Shear fault.

The best result in the release came from hole DDH26-143, which returned 7.79 grams per tonne (g/t) gold and 0.26% antimony over 4.1 meters, including 48.30 g/t gold and 1.68% antimony over 0.6 meters. Farther down, the same hole cut two wide zones: 1.84 g/t gold over 29.5 meters and, in the Crown Connector, 1.58 g/t gold and 0.08% antimony over 22.7 meters.

"The Crown Connector and newly identified high-grade footwall structures reinforce the exploration potential beyond Reliance's current mineral resource," said President and CEO Robert T. Boyd. "With further assays pending, these encouraging results will help guide our next steps toward resource expansion."

All four Crown Zone holes in the release hit multiple new high-grade structures. Besides the 48.30 g/t interval in DDH26-143, they included:

• 13.65 g/t gold over 1 meter in hole DDH26-145.
• 8.58 g/t gold over 0.5 meters in hole DDH26-141.
• 8.07 g/t gold over 1 meter in hole DDH26-139

The company said deeper drilling this year continues to intersect previously undefined high-grade structures, with reported intervals ranging from 0.5 to 3.4 meters and grades reaching up to 48.30 g/t gold and 7.51% antimony in separate intercepts. These include fault-hosted quartz-carbonate-stibnite veins and related sulfide-rich cataclastite breccias, which occur along competency contrasts, including lithological contacts and the margins of large pre-mineral quartz veins.

Two other holes also tested the gap between the Lower Imperial and Crown zones. DDH26-141, a 110-meter down-dip step-out, returned 1.39 g/t gold and 0.22% antimony over 8.7 meters, and DDH26-134A, reported earlier, returned 4.33 g/t gold and 0.36% antimony over 2.3 meters. Both hit mineralization at the depth the company predicted. True widths are estimated at 80% to 100% of the reported core lengths.

The new results build on Reliance's first mineral resource estimate, released in January. It outlined an Inferred resource of 19.6 million tonnes grading an average 2.30 g/t gold, for 1.45 million ounces of contained gold. Resources aren't reserves and don't have demonstrated economic viability, the company noted.

This is the fourth set of results from Endurance's 2026 resource expansion program, and all 18 holes reported so far this year have hit gold or antimony mineralization outside the resource. The program is complete, with 10,505 meters drilled in 26 diamond drill holes at the Eagle, Crown, and Imperial zones.

Atrium Research analysts Ben Pirie and Nicholas Cortellucci maintained their Buy rating and CA$0.90 target price on Endurance Gold.

That brings Endurance's total diamond drilling in the resource area to more than 42,000 meters. The company also finished 2,906 meters of reverse circulation drilling in 38 holes at its Eagle Offset and Camp Creek targets.

Assays are still pending from more Crown Zone holes and from the Eagle Offset and Camp Creek drilling, and Endurance said it will report them as they arrive. Reliance sits near Gold Bridge, BC, in the historic Bridge River gold mining camp. The company describes the project as a shallow-level orogenic gold system, with potential for growth both near surface and underground. Reliance's antimony adds interest, since antimony is on both Canada's and the United States' critical minerals lists.

Atrium Research analysts Ben Pirie and Nicholas Cortellucci maintained their Buy rating and CA$0.90 target price on Endurance Gold in a November 10 research note. With the stock at CA$0.34 at the time, the target implied a 165% return.

The analysts said the new results bridge the 300-meter undrilled gap between the Lower Imperial and Crown zones, since all three holes testing the gap hit gold and antimony. The Crown Connector, they wrote, "provides further evidence of continuous, stacked mineralized structures in the Royal Shear footwall." They added that the wide intervals in hole DDH26-143 show "these structures can carry meaningful widths."

They also pointed to the project's track record. All 18 holes reported this year have hit mineralization outside the resource, which the analysts said extends "the high drill success rate EDG has delivered at Reliance."

Atrium also sees value in the stock relative to its peers. By its figures, Endurance trades at an enterprise value of about US$28 per ounce of gold in the ground, compared with a peer average of about US$137.60. The analysts said they like Endurance for its near-surface, high-grade resource and its location in a historic mining camp about 10 kilometers from the past-producing Bralorne mine. They also cited the potential to grow Reliance into a multi-million-ounce, high-grade deposit.

Next up, the analysts said they're looking forward to the remaining Crown Zone assays and the first reverse circulation results from the Eagle Offset and Camp Creek targets. They list a preliminary economic assessment as a future catalyst, with timing to be determined.

Gold has faced renewed pressure this week. Hotter-than-expected U.S. inflation data on Tuesday raised bets on a Federal Reserve rate hike in December and knocked gold down about 2.6%. But the metal held above US$4,000 an ounce, and spot gold was trading near US$4,034 on Wednesday, as buyers stepped in on the dip.

The longer-term demand picture remains strong. Central banks have bought 675 tonnes of gold so far this year, 6% more than at the same point in 2025, and their third-quarter buying was the highest since late 2024, the World Gold Council reported November 3. Looking ahead, the council said it expects investment to stay the main driver of demand, supported by gold ETF buying, while central banks are likely to remain significant buyers.

Endurance's Reliance project also carries antimony, a critical mineral used in munitions, flame retardants, and lead-acid batteries, and that market faces its own deadline. China's suspension of its ban on antimony exports to the U.S. is set to expire on November 27. Even if the suspension is extended, China's broader export licensing rules for antimony still apply, so buyers are focusing on alternative suppliers to reduce the risk of disruptions.

What did Endurance Gold announce?

On November 10, the company reported assays from five diamond drill holes at its Reliance Gold Project near Gold Bridge, BC. All five hit gold and antimony mineralization outside the current resource.

What is the Crown Connector?

It's a new zone about 125 meters up-dip of the Lower Imperial Zone. It fills a 300-meter undrilled gap between the Lower Imperial and Crown zones. The company said it shows mineralized continuity between the two zones.

What were the best results?

Hole DDH26-143 returned 7.79 g/t gold and 0.26% antimony over 4.1 meters, including 48.30 g/t gold and 1.68% antimony over 0.6 meters. The same hole also cut 1.84 g/t gold over 29.5 meters and 1.58 g/t gold over 22.7 meters.

How big is Reliance's resource?

The January 2026 estimate outlined an Inferred resource of 19.6 million tonnes grading 2.30 g/t gold, for 1.45 million ounces of contained gold. Resources aren't reserves and don't have demonstrated economic viability.

What's next for the project?

The 2026 diamond drill program is complete at 10,505 meters in 26 holes. Assays are still pending from more Crown Zone holes and from reverse circulation drilling at the Eagle Offset and Camp Creek targets. Atrium lists a preliminary economic assessment as a future catalyst, with timing to be determined.

What does the analyst say?

Atrium Research's Ben Pirie and Nicholas Cortellucci maintained a Buy rating and a CA$0.90 target on November 10. They noted Endurance trades at about US$28 per ounce of gold in the ground, compared with a peer average of about US$137.60.

Why does the antimony matter?

Antimony is on both Canada's and the United States' critical minerals lists, and it's used in munitions, flame retardants, and batteries. China's suspension of its ban on antimony exports to the U.S. is set to expire on November 27.