Calgary, Alberta--(Newsfile Corp. - February 26, 2026) - Legacy Gold Mines Ltd. (TSXV: LEGY) (the "Company" or "Legacy Gold") has laid out its 2026 surface exploration drill program of roughly 20,000 feet on the Baner Gold Mine Property (the "Baner" or "Property"), in Idaho County, Idaho, USA, which is optioned by the Company. The drilling in 2026 will follow up on the successful 2025 results that were returned from targeting the previously drilled Main Zone on the Property and will include new targets indicated by large gold in soil anomalies co-incident with geophysical conductors and similar magnetic highs as the Main Zone. Drilling will also be undertaken in the NE Zone, and in the Baner Zone that runs east-west.
Three of the four main drilled areas have intersected very wide lower-grade intersections such as 0.59 g/t Au over 71.6m (235ft) in hole LG25-004; 0.50 g/t Au over 108.2m (355ft) in hole LG25-002; and 0.32 g/t Au over 88.4m (290ft) in hole LG25-005 (see the Company's Oct. 10, 2025, Nov. 17, 2025, Feb. 10, 2026 and Feb. 16, 2026 press releases). The total width of mineralization in holes to date include 71.6m (235ft) in hole LG25-001, plus 123m (405ft) in hole LG25-002, plus 75m (245ft) in hole LG25-003, plus 145m (475ft) in hole LG25-004 and 117m (385ft) in hole LG25-005. Importantly, the waste to mineralization appears to be far less than 1:1 (e.g. 0.26:1 in hole LG25-005).
"Amongst other program goals, drilling up-dip (up-hill) this year from previous drilling will allow for a better understanding of Baner's potential scale of gold mineralization and we look forward to sharing this with shareholders at next week's PDAC," said Brian Hinchcliffe, Legacy Gold's Chairman and CEO. "Drilling contractors are being lined up for both the RC and core drilling, with commencement targeted for Q2 2026, subject to receipt of required permits."
Results from the recent 2025 drilling and previous drilling and exploration have supported an initial exploration target at Baner of approximately 50.3 million to 55.3 million tonnes, at average grades ranging from approximately 0.72 g/t Au to 0.91 g/t Au (the "Exploration Target").
The potential quantity and grades of the Exploration Target is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain whether further exploration will result in the target being delineated as a mineral resource. The Exploration Target does not represent a mineral resource estimate and has not been prepared in accordance with NI 43-101 mineral resource categories. See "Basis for Exploration Target" below for additional information.
Drilling Targets for 2026
Up-dip (up-hill) from previous drilling to find out the width of the system that to date has intersections covering 290m (951.4ft) down dip. One drill set-up from 2025 was located up-hill and intersected 5.26 g/t Au over 3.0m (10ft) starting at 7.6m (25ft).
Baner East-West Zone which has numerous historical adits and shafts covering 1,000m; hole LG25-002 intersected 0.50 g/t Au over 108.2m (355ft).
NE Zone where previous drilling intersected 1.6 g/t Au over 16.6m (54.5ft), and 0.7 g/t Au over 35.2m (115.5ft).
NW Zone, characterized by anomalous large gold in soil anomalies co-incident with geophysical conductors and similar magnetic highs as the Main Zone. A hole will also target soil anomalies approximately 230m NW of hole LG25-006 which intersected 0.66 g/t Au over 12.2m (40ft) plus 0.25 g/t Au over 15.2m (50ft).
Angel Zone, a linear 555m gold in soil anomaly.
Permitting Update
The Company has now received written confirmation from the United States Forest Service ("USFS") that its Plan of Operations application for its 2026 Drill Program at the Property has been reviewed and deemed complete. The USFS has advised that it will now begin its analysis of the application required under the National Environmental Policy.
PDAC 2026
Legacy Gold will be attending the Prospectors & Developers Association of Canada (PDAC) Convention in Toronto from March 1, 2026. The Company invites shareholders and interested investors to visit the Company at Booth #2815 to discuss the Property and the Company's 2026 exploration plans.
Basis for Initial Exploration Target
This initial Exploration Target is limited to 1,000m for the Main Zone (plus 500m at Baner Mine trend), and 370m for the NW Zone 1,370m of the Orogrande structure. The initial Exploration Target excludes the adjacent soil anomalies along strike which indicate lots more room to grow. This preliminary target also excludes other targets on the property that have overlapping geophysical magnetic and conductor/soil/structural anomalies similar to where the drilling has taken place to date. The anomalous soils extend another 600m in the immediate area, while other soil anomalies suggest a further 2200m - if drilling in those areas intersect similar criteria, the target increases.
The conceptual volumetric calculations are derived from sectional interpretation and geological modelling. The geological information was collected from a total of 46 drill holes for 10,459m drilled over 2.3 kilometres of strike by Legacy Gold in 2025 (RC) and Idaho Champion (core) in 2018 and 2020.
The gold grade range of the Exploration Target has been calculated from the significant number of drill intercepts returned from the 46 holes completed to date. There are 114 intersections which are above 0.2 g/t cut-off. A minimum width of 5m was used (5m benches).
The volume range (tonnages) of the Exploration Target is defined by the drilling completed combined with the evidence up-dip given by similar grade soils to where drilling has taken place.
Intersections were weighted averaged for each of 10 sections, with strike lengths calculated from mid-point to midpoint between sections. There is an average of 3.8 zones per section. The dip lengths were measured up the hill where gold in soils suggest gold in the underlying rock. This evidence was proven in 2025 at the only set-up drilled up-hill (with gold intersections at surface and all the way down dip for at least 290m). Several smaller sections were created where RC returned significantly wider intersections but at lower grade to core drilling. The average dip length for the 10 sections is 230 metres. True widths were used where the interpretation suggested an obvious change was required- most drilling is thought to be close to true width otherwise. The weighted average sectional grade gives 0.72, with the two highest being 1.51 g/t and 1.07 g/t.
Using a simple weighted average of all 114 intersections gives 0.91 g/t over 12.8m.
An assumed bulk density was used of 2.73 t/m3- consistent with quartzite-hosted gold systems.
Initial metallurgical cyanide leach testing gave 87.1%-93.2%; at 4km north, Bema undertook open pit mining and heap leaching (fully permitted) at Buffalo Gulch in the early 1990's which was 95% permitted again in 2023 by Endomines.
The Company intends to conduct additional drilling and technical studies to evaluate whether sufficient data may be obtained to support a future mineral resource estimate.
Geology and Mineralization
The belt of mineralization that traces through the Elk City and Orogrande mining districts is known as the Orogrande Shear Zone, and is estimated to be between 100-200m wide, with a general NNE trend. Gold mineralization occurs along this zone in numerous prospects and small historic mines. Most of the mineralization appears to be along Riedel shear structures that cross over between two bounding major north-south structures along the Orogrande Shear Zone. In general, higher grade historical mining was undertaken on narrow zones of strong sericite-silica-carbonate alteration and quartz veins. Intrusion-related structurally controlled mineralization has been suggested previously. At the Property, the predominant host rock is quartzite, with some biotite gneiss also present.
Review by Qualified Person
Mr. Mike Sutton, P.Geo., Director and VP of Exploration of the Company, is the Qualified Person, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Property or any underlying property agreements.
2025 Drilling and Sampling: Drilling in 2025 was carried out using a Foremost-built tracked MPD1500 RC drilling unit, the rig has jacks and a blade and is capable of working on small pads on steep ground to minimize ground prep. Drilling to final hole depth was completed using 4-inch pipe and a 5 1/4 inch bit. Holes were cased down to approximately 7.6m (25ft) with 8-inch steel casing drifted-in using a tricone bit. RC drilling uses a hammer and at depth below groundwater level a tricone bit was sometimes used.
RC drilling was done wet, with water actively pumped down the hole, mixing with pulverised sample, and coming through the cyclone to an 8-compartment rotary fan wet splitter. Each compartment can be shut off giving control of the amount of split material. Rotary splitter was set up with 1:2 split, with the half split going into a calico bag housed in a bucket for an assay sample. The remainder of the sample falls to the ground and runs into the sump. Each assay sample is for a 1.52m (5ft) interval. The splitter and cyclone are flushed every 4 samples or upon noticing a change in color. Chips were collected from the splitter reject and put into chip trays for reference.
Bar-coded Calico bags are pre-labelled, and a corresponding sequential from-to depth is pre-recorded in a spreadsheet. Quality control samples are included in the numerical sequence with B, S, or D designations for blanks, standards, and duplicates. The drilling team is responsible for changing the bags and regular company supervision and cross-checks on sample numbers and intervals avoids sample mix-ups. Filled sample bags are laid on the ground in order so a visual check can be easily performed when collecting samples.
Samples are dispatched to the ALS Global prep-lab in Twin Falls, Idaho, USA with final gold assays completed in Reno, Nevada. The lab has ISO/IEC 17025 accreditation. All samples are assayed for gold by Fire Assay, with gravimetric finish. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments. Duplicates were prepared on-site with a riffle splitter. Standards, blanks and duplicates are inserted at approximately one per 15 samples.
About Legacy Gold Mines Ltd.
The Company is a Canadian-based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "LEGY". The Company holds an option to acquire a 100% undivided interest in and to the mineral claims comprising the Property located in Idaho County, Idaho, USA.
Additional information about the Company and the Property is available on SEDAR+ at www.sedarplus.ca under the Company's profile, including a technical report titled "NI 43-101 Technical Report on the Baner Project, Idaho County, Idaho, USA", dated effective August 1, 2024, prepared by Steven A. Osterberg, Ph.D., P.G. (the "Technical Report").
For further information, please contact:
Legacy Gold Mines Ltd.
Brian Hinchcliffe, Executive Chairman and Chief Executive Officer
Telephone: +1 (587) 327-9815
Email: info@legacygoldmines.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, timing and completion of any exploration, drilling and work programs on the Property, estimates of mineralization from drilling, sampling and geophysical surveys, geological information projected from drilling and sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, and statements regarding the plans, intentions, beliefs, and current expectations of the Property and the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forward-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, as well as those risk factors discussed in the Filing Statement of the Company dated effective September 19, 2024 or referred to in the Company's annual Management's Discussion and Analysis for the year ended December 31, 2024 and the period ended September 30, 2025 available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285451
Source: Legacy Gold Mines Ltd.
