• Resource drilling rapidly advancing with 85% of Vertigo Mineral Resource Estimate (MRE) completed
• Initial assay results confirm high-grade gold and strong conformity with MRE block model
• Second rig on site to undertake drilling for metallurgical testwork on Heap Leach pad

Pacgold Ltd (ASX: PGO) has announced the initial results of its drilling program at the White Dam Gold Project in South Australia, designed to expand and upgrade the JORC 2012 Mineral Resource Estimate (MRE) published in 2020. The Reverse Circulation (RC) drilling program at the Vertigo Pit is 85% complete, with 123 holes for 8,003m drilled to date. The drilling has been undertaken on a nominal grid of 25m x 25m down to 12.5m x 12.5m, informed by the current MRE block models and geological controls on mineralisation. Assay results have been received for approximately 30% of samples, and the results strongly underpin an anticipated MRE upgrade, with several high-grade gold and copper intersections reported, including 15m @ 1.6g/t Au and 0.48% Cu, 9m @ 2.1g/t Au and 0.57% Cu, and 14m @ 1.1g/t Au and 0.28% Cu. Encouragingly, some holes have also intersected strong gold mineralisation at surface that was not previously defined within the MRE or mined. Drilling will continue at Vertigo and proceed to the Hannaford Pit, White Dam North, and Rolling Prospect, with the program scheduled to be completed by May 2026. Additionally, a Sonic rig has been mobilized to site to begin drilling the existing Heap Leach pad for metallurgical testwork and grade estimation on the remaining ore.

The Company is targeting early Q3 2026 to finalise the updated resource models and pit optimisation studies for the White Dam North resource and the expanded Hannaford and Vertigo pit operations.