Gold Zone Delivers 41.46 g/t as Every Winter Drill Hole Hits Mineralization

Trident Resources Corp. (ROCK:TSXV; TRDTF:OTCMKTS) reported assay results from the final seven diamond drill holes of its 2026 winter drill program at the Contact Lake Gold Project in northern Saskatchewan.

According to the company, all seven holes were drilled into the BK3 Zone at the Contact Lake target area and intersected gold mineralization. The results reported in this release are from holes CL26033, CL26043, CL26044, CL26045, CL26046, CL26047, and CL26048. The winter drill program at Contact Lake totaled 10,127 meters across 29 holes.

Among the reported results, hole CL26033 returned 41.46 grams per tonne (g/t) gold over 3.42 meters from 207.58 meters, including 81.75 g/t gold over 1.73 meters and 179.5 g/t gold over 0.73 meters. Hole CL26045 returned 5.43 g/t gold over 16.00 meters from 206.00 meters, including 12.70 g/t gold over 6.25 meters. Hole CL26047 returned 10.05 g/t gold over 9.30 meters from 221.00 meters, including 156.50 g/t gold over 0.50 meter. Hole CL26048 returned 6.78 g/t gold over 10.25 meters from 42.00 meters, including 17.10 g/t gold over 3.40 meters and 112.50 g/t gold over 0.50 meter.

The company stated that the BK3 Zone contains separate splays of the Bakos Shear Zone, where shearing and alteration are associated with gold mineralization in the shear structure as well as the hanging wall and footwall.

Jon Weisblatt, Trident's CEO and Director, said in the company's news release, "We are incredibly pleased with these results from the Contact Lake winter drill program as all the holes intersected gold mineralization and the program exceeded our expectations. The strength and continuity of the mineralization we're seeing confirms our belief that the Contact Lake target area is highly prospective within the project area and within Trident's entire portfolio."

Weisblatt also stated, "The company has approximately $26 million in treasury and is fully funded for the 2026 summer program and beyond, allowing us to advance the Contact Lake Gold Project expeditiously with the current +20,000m phase of drilling underway."

Trident noted that 11 drill holes remain unreported from the Preview Lake deposit area, located approximately three kilometers from the Contact Lake target area, with assay results pending.

The Contact Lake Gold Project covers approximately 22,790 hectares and includes the past-producing Contact Lake gold mine, which produced approximately 190,000 ounces of gold at an average head grade of 6.16 g/t gold between 1994 and 1998. The property also hosts the Preview SW, Preview North, and North Lake gold deposits. Together with the Greywacke North deposit, the projects host current mineral resource estimates that do not include gold ounces from the Contact Lake target area.

Gold Sector Holds Focus Amid Volatility

According to a June 17 report by Matthew Piepenburg, the precious metals sector had been operating amid "extreme political, financial, market and precious metal volatility." Piepenburg described rising yields and forced sell-offs in gold during wartime as "temporary headwinds for the metal," while stating that those headwinds were "ultimately set up for larger tailwinds."

Piepenburg wrote that "the world is marching away from USTs and towards gold," and connected that shift to rising bond yields and weakening bond demand. He also stated that "bond cycles and currency policies" gave investors added perspective during periods of metal weakness, adding that patience was "one of the most misunderstood investment skills."

NFTRH writer Gary wrote on June 17 that the HUI Gold Bugs index was "well along in its correction" and had been testing major support. He stated that "the monthly chart checks in with some good news on the bigger picture," adding that "the gross overbought situation has been relieved." Gary also wrote that his original theme remained that the move was "not a blow-off, as in the end of a bull market, so much as a launch into a new secular bull."

In the same technical review, Gary wrote that "gold, silver and the precious metals miners (and royalty, exploration, etc.) have led a wider anticipated group of beneficiary sub-sectors." He also stated that "risk/reward is oh so much better than it was in January," while cautioning that the correction had "not yet broken."

In a June 18 interview with Mining.com, Vincent Lanci said the key issue in the precious metals market was "not today's gold price, but the ongoing transformation of the global financial system's collateral structure." Lanci wrote that "central banks continue to accumulate gold at historically strong rates," while gold storage and clearing infrastructure had increasingly moved toward Asia.

Lanci also stated, "Money gets all the attention, but collateral does all the work." According to Lanci, understanding collateral within the global financial system had become increasingly important as central banks diversified reserves, new clearing hubs emerged, and precious metals' pricing power continued to migrate eastward.

In a June 19 morning update, Chen Lin of the What's Chen Buying? What's Chen Selling? Newsletter wrote, "Gold rebounded to the exact downtrend line yesterday and shorts showed up at the Fed meeting . . . I remain cautious on gold and silver for this summer. Even though the Strait is open as we hoped, it could take a few months for the Gulf to stop selling gold and build up oil revenue. I am trimming liquid miners on the rebound."

Market Commentator Highlights Latest High-Grade Intercept

Bob Moriarity of 321Gold.com commented on June 19 that he had been a shareholder since before the formation of Trident Resources through the merger of Eros, MAS Gold, and Rockridge. In a statement to Streetwise Reports, Moriarity said, "Tim Termuende is an old friend of mine from far too many years to remember. He suggested I buy shares in Eros a couple of years back. When the three-way merger took place and Trident resulted, and my shares were exchanged, I bought more."

Moriarity also referenced the company's latest drilling results, stating, "The drill results are nothing short of remarkable with 41.46 g/t gold over 3.42 meters just released." He added that Trident was "the anchor of my resource portfolio" and said, "investors would be wise to do the same."

Discussing the company's resource base and jurisdiction, Moriarity stated, "With over two million ounces of economic gold in one of the top jurisdictions in the world, the shares are safe and absurdly cheap." 

Expanded Drilling Program Underway at Contact Lake

Trident reported that the 2026 summer drill program has commenced with two drill rigs currently operating on site. The company stated that approximately 20,000 meters of additional drilling is planned to test the Contact Lake deposit at depth and along strike toward the west.

Company materials indicate that the broader 2026 exploration program is targeting approximately 30,000 to 40,000 meters of drilling and is fully funded with approximately CA$28 million in working capital. The materials also state that all 17 winter drill holes at Contact Lake intersected gold mineralization, while results from 11 drill holes at the Preview SW area remain pending.

Recent winter drilling at Contact Lake included intercepts of 15.11 g/t gold over 51.83 meters in hole CL26036, 41.46 g/t gold over 3.42 meters in hole CL26033, and 17.88 g/t gold over 11.25 meters in hole CL26042, according to company materials.

In addition to Contact Lake, Trident's project portfolio includes the Greywacke Lake Gold Project and the Knife Lake Copper Property. The company also reported planned geological mapping and geochemical sampling activities at the Greywacke and Hailstone properties as part of its 2026 exploration program.

Ownership & Share Information¹

Trident Resources Corp. has a market cap of CA$184.49 million, with 39.76 million shares outstanding. The company's 52-week range is CA$0.59-CA$4.69.

Institutions own 5.02% of shares, while Management & Insiders own 3.60%. The remaining 91.38% of shares are held by Retail.