Junior Gets First Conceptual Estimate for High-Grade Nevada Gold Project

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1. Disclosure for the quote from the John Newell article published on August 11, 2025

1. For the quoted article (published on August 11, 2025), StrikePoint paid Street Smart, an affiliate of Streetwise Reports, US$2,000.
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. 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.

StrikePoint Gold Inc. (SKP:TSX.V; STKXF:OTCQB) has hit a new milestone at its Hercules Gold Project in Nevada with the release of an independent technical report providing the property's first conceptual estimate of its potential size.

Filed under Canada's NI 43-101 disclosure standards and dated June 2, (available on SEDAR+) the report outlines an exploration target ranging from 39.8 million to 68.7 million tonnes grading between 0.46 and 0.61 grams of gold per tonne (g/t). It marks the first effort by any operator to estimate the possible scale of the deposit, although the report stresses that the estimate remains conceptual.

StrikePoint secured full ownership of the Hercules property in August 2024. Earlier technical reports completed in 2012 and 2020 under previous operators evaluated the project but stopped short of estimating its overall size, the new report noted. The latest report takes that step while emphasizing the limitations of the available exploration data.

A second updated report on SKP's Cuprite Gold Project, also in Nevada, was released. Completed by Bryan A. Kellie, C.P.G.; and Steven I. Weiss, C.P.G., PhD; a release issued on July 14 said that report contained "certain enhanced disclosures to ensure the report provides a clear and complete summary of the project's technical merits."

Located within Nevada's Walker Lane trend, Hercules occupies a highly prospective belt known for epithermal gold and silver deposits along the state's southwestern margin. The project sits about 40 kilometers southeast of Reno and roughly 20 kilometers east of the historic Comstock mine. Covering approximately 10,400 hectares, Hercules ranks as a sizable land package for a junior exploration company.

According to the report on Hercules by APEX Geoscience, the property contains classic low-sulfidation epithermal geology characterized by several northeast-trending vein systems that each extend for more than a kilometer. Four primary mineralized areas — Cliffs, Hercules, Northeast and Loaves — contain "both high-grade fissure veins and lower-grade, potentially bulk-mineable mineralization," the report said.

Land Position Expands

The report highlights three major developments since the previous technical assessment. StrikePoint completed 36 reverse-circulation drill holes totaling 5,353.6 meters during exploration programs carried out in 2025 and 2026. At the Cliffs target, hole H26004 intersected 114.3 meters grading 0.69 g/t gold (Au), including a higher-grade interval of 9.14 meters grading 2.95 g/t Au, while hole H25005 returned 117.35 meters averaging 0.45 g/t Au. At the Hercules zone, shallower drilling intersected 5.94 g/t Au beginning just 13.7 meters below surface. The report also notes that "not all assay results from the 2026 drill program have been received," indicating that additional results remain pending.

The company also expanded its land position in February 2026 by agreeing to acquire the neighboring Como Claims from a Newmont subsidiary. The acquisition adds the historic Como mining district, including the high-grade Elgin vein, to the southern portion of the project. StrikePoint has not yet drilled the newly acquired ground, leaving additional exploration potential.

Perhaps the most significant addition for investors is the introduction of the conceptual exploration target itself. Using ordinary kriging to model both recent and historical drilling results, the estimate suggests the property could contain roughly 0.6 million ounces (Moz) to 1.3 Moz of gold based on midpoint grades.

Even so, the report clearly distinguishes the estimate from a mineral resource, stating that "there has not been sufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the estimation of a mineral resource."

'A Property of Merit'

APEX's qualified persons describe Hercules as "a property of merit prospective for the discovery of additional gold mineralization," while identifying the Cliffs area as the project's most promising zone.

"The Cliffs Target hosts the broadest and most continuous mineralization identified on the property to date. Drilling has expanded the mineralized footprint southward, and mineralization remains open to the south and at depth."

The geologists also emphasize the overall scale of the mineralized system, noting that gold mineralization has now been identified more than 2 kilometers north of the Cliffs target. They say the discovery "demonstrates the scale of the mineralized corridor and indicates potential for additional exploration along the trend."

The report recommends advancing the project through a two-stage exploration program with a total estimated cost of US$3.66 million. The first phase, budgeted at US$770,000, would include approximately 1,750 meters of step-out drilling south of the Cliffs target, where mineralization remains open, while also beginning exploration work on the recently acquired Como Claims. If those results prove encouraging, the second phase would add another 7,500 meters of drilling, metallurgical testing, and work aimed at upgrading the conceptual exploration target into the project's first formal mineral resource estimate.

For now, the exploration target remains an early-stage estimate rather than a confirmed ore body. As the report cautions, the project's ultimate potential will depend on additional drilling, which will determine whether the encouraging geological model can be supported by further exploration results.

'Best Ever Drill Hole' at Project

StrikePoint recently reported assays from its Spring 2026 drill program at Hercules, including one result the company called the "best ever drill hole into the Hercules Gold Project."

The results support StrikePoint's work toward compiling sufficient information for a maiden resource estimate (MRE), which it expects to deliver in the fourth quarter of 2026. The latest program's standout result came from Hole H26004, which returned the project's strongest grade-width interval so far: 114.30 meters averaging 0.69 g/t Au and 5.03 g/t Ag (silver), beginning 135.64 meters downhole.

"We are very pleased with the drilling to date, including the best hole delivered in the history of the project," StrikePoint President and Chief Executive Officer Michael G. Allen said at the time. "H26004 intersected mineralization at a grade above the upper bound of our Hercules Exploration Target."

He continued, "The hole ended in mineralization, and the zone remains open to the south. Based on drilling since StrikePoint took control of Hercules, we have outlined a broad, near-surface oxide gold zone at the south end of the Cliffs target, the kind of widths and grades that could potentially support the open-pit, heap-leach scenario contemplated for the project."

Expert: Co. Has 'Rare Combination'

¹A Streetwise Reports article featured John Newell of John Newell and Associates on August 11, 2025. Newell characterized StrikePoint as a potentially undervalued player in Nevada's Walker Lane gold-exploration sector. He focused on the company's acquisition of the Hercules project at a price well below the asset's prior US$25 million sale value.

Newell noted that Hercules holds permits for exploration drilling and hosts a sizeable oxide gold system that StrikePoint is advancing toward a maiden resource estimate (MRE).

Even with that progress, Newell said the market has yet to fully recognize StrikePoint's potential. "And the market hasn't caught on," he commented, hinting at future recognition with the word "Yet."

He described StrikePoint as having "a rare combination: deep-value optionality, a fully permitted oxide gold asset in one of the world's best mining jurisdictions, a proven technical and capital markets team, and a meaningful exploration target on a district-scale land package."

Newell also cited the company's efficient share structure and ongoing drilling activity. He suggested that those factors, combined with expected upcoming news, could help improve the company's market position.

The Catalyst: Gold Rebounding?

Gold prices rebounded toward US$4,100 per ounce after June inflation data showed a much steeper-than-expected decline, easing pressure on the Federal Reserve to raise rates during the latter half of the year, according to a report by Neils Christensen for Kitco News on July 14. Spot gold initially climbed almost US$60 after the report and most recently traded at US$4,087.40 per ounce, more than 2% higher on the day, though it remained just below the US$4,100 mark.

The U.S. Bureau of Labor Statistics said Tuesday that the Consumer Price Index declined 0.4% in June, reversing May's 0.5% advance, Christensen said. Economists had anticipated only a 0.1% monthly decrease. “This decline in the all-items index was the largest one-month decrease since April 2020 when it fell 0.8%,” the report said.

Year-over-year headline inflation slowed to 3.5% from 4.2% in May, undershooting the consensus forecast for a 3.8% gain. Core CPI, which excludes food and energy costs, did not change in June after increasing 0.2% a month earlier; economists had expected another 0.2% increase. Annual core inflation cooled to 2.6%, compared with 2.9% in May.

Energy costs drove the overall monthly decline. The energy index dropped 5.7% in June after climbing 3.9% in May, 3.8% in April, and 10.9% in March, although it remained 15.7% higher than a year earlier. “The energy index was the largest contributor to the monthly all-items decrease, more than offsetting increases in other indexes, including those for shelter and food,” the report said.

The figures also altered investors' expectations for Federal Reserve policy. Before the release, markets had largely expected two interest-rate increases by year-end, potentially starting in September. They now anticipate only one hike by December, a shift that helped strengthen demand for gold.

Markets continue to treat the Strait of Hormuz as passable but exceptionally dangerous, rather than either functioning normally or facing a complete closure, according to a report by the Kitco NewsWire on July 14. The exchange of strikes between the United States and Iran lifted crude prices again, with Brent trading near US$86.73 per barrel and Nymex West Texas Intermediate near US$80.55 in early dealings. The conflict has supported oil through geopolitical concerns and maintained safe-haven demand for gold, although unexpectedly mild inflation data has weakened the immediate inflationary effect of higher energy prices.

For precious metals, the lower Consumer Price Index reading has counterbalanced pressure that rising oil prices might otherwise create, the report noted. Across other markets, oil strengthened, equities showed an uneven performance, Treasury yields retreated from their recent highs, and the U.S. dollar weakened. Investors are monitoring Federal Reserve Chair Kevin Warsh's congressional appearance, the response in Treasury yields after the inflation report, and any new interruptions to shipping through Hormuz.

Gold's near-term outlook would improve if it could decisively clear resistance between US$4,091 and US$4,107. A renewed surge in crude could instead refocus attention on whether energy costs begin to lift July inflation figures. The 10-year U.S. Treasury yield traded around 4.6%, while the dollar index remained softer, and both major crude benchmarks posted sharp gains.

From a technical perspective, gold bulls aim to regain US$4,091, followed by the 50-period moving average near US$4,087 and then US$4,140, the NewsWire report said. Bears seek a decline below US$3,959, which could expose US$3,942 and subsequently US$3,886. Analysts identify resistance at US$4,091 and US$4,140, with support near US$4,021 and US$3,959.

Ownership and Share Structure²

Just over 1% is held by insiders and management, and Mining financier Eric Sprott owns about 5% through his company, 2176423 Ontario Ltd.

The company has 62.39 million shares in circulation and a market capitalization of CA$9.05 million. It trades within a 52-week range of CA$0.08 to CA$0.34.

Common Questions From Investors

What is a "conceptual exploration target," and how is it different from a mineral resource? It's an early estimate of a deposit's potential size and grade — at Hercules, 39.8 to 68.7 million tonnes grading 0.46 to 0.61 g/t gold — based on the drilling done so far. It is not a mineral resource: there hasn't been enough drilling to define one, and there is no guarantee that further work will succeed in doing so.

Why is the Cliffs target considered the project's most important zone? Cliffs hosts the broadest and most continuous mineralization found on the property to date, including StrikePoint's best hole so far (H26004: 114.3 meters at 0.69 g/t gold). Mineralization there remains open to the south and at depth, meaning the zone could still expand with additional drilling.

What did StrikePoint gain by acquiring the Como Claims from a Newmont subsidiary? The February 2026 deal added the past-producing Como mining district and its high-grade Elgin vein to the southern end of the project. StrikePoint has not yet drilled this ground, so it represents fresh exploration upside beyond the existing target areas.

What milestones should investors watch next? The company aims to deliver a maiden mineral resource estimate (MRE) in the fourth quarter of 2026, supported by a two-phase, US$3.66 million program that starts with roughly 1,750 meters of step-out drilling south of Cliffs. Strong Phase 1 results would trigger a larger Phase 2, including 7,500 meters of drilling and metallurgical testing.