Toronto, Ontario--(Newsfile Corp. - October 7, 2026) - Caprock Mining Corp. (CSE: CAPR) ("Caprock", or the "Company") is pleased to provide an overview of its operational highlights in fiscal 2026, and an update on its plans for the upcoming year at its flagship Destiny gold property ("Destiny", or the "Property", or the "Project"), located near Val d'Or, Quebec.
Caprock's President & CEO, Mr. Vishal Gupta, commented, "2026 was a year of milestones for Caprock - strengthening the Company's board of directors with the appointment of Jean-David Moore, completing our maiden drill program, intersecting high grade mineralization, and proving out our thesis on the Destiny gold project. We are now planning an extensive work program for this winter with the specific objective of expanding the Mineral Resource Estimate ("MRE") at Destiny, culminating in an updated MRE by the spring of 2027."
Highlights from Fiscal Year 2026
Highlights of 2-Phased Deep Drill Program:
Drill hole DES-26-182 intersected 5.18 g/t Au over 1.5 meters;
Drill hole DES-26-183 intersected 2.84 g/t Au over 23.2 metres, incl. 38.48 g/t Au over 1.6 meters;
Drill hole DES-26-184 intersected 4.58 g/t Au over 2.5 meters and 2.68 g/t Au over 3.9 meters;
Drill hole DES-26-184W1 intersected 8.32 g/t Au over 2.6 meters and 6.43 g/t Au over 1.8 meters.
Strengthening the Board:
Jean David Moore was appointed to Caprock's board on March 6, 2026. Mr. Moore has been a consultant and an advisor to several mineral exploration and development companies for over twenty years. He is a prominent investor in the junior mining space, and holds significant stakes in over 50 resource companies throughout Canada.
Mr. Moore serves currently on the boards of Bullion Gold Resources Corp., Dios Exploration Inc., Goldrea Resources Corp., Green Canada Uranium Corp., Opus One Gold Corp. and PTX Metals Inc. Previously, he served as a director of Vanstar Mining Resources Inc., which was acquired by Iamgold Corp. in February 2024, and Fokus Mining Corp., which was acquired by Gold Candle Ltd. (now Cadillac Mines Corp.) in April 2026.
Completion of Initial Shallow Drill Program:
The Company recently completed an initial shallow drill program consisting of three NQ-sized diamond drill holes totaling approximately 1,007m of drilling. All three holes were designed to fill a gap in drilling within the open-pit constrained MRE at Destiny. Assay results for these drill holes are pending and will be published in the coming weeks.
2027 Winter Drill Program:
Caprock has obtained all permits required for the Company's planned 2027 winter drilling program.
The Company will focus on the expansion of its MRE with at least one, and potentially a second, drill campaign. The first campaign will consist of 10 to 12 short drill holes aimed at expanding the MRE westward along strike. Management is also considering adding a second drill campaign, consisting of 10 to 12 short drill holes designed to expand the MRE eastward along strike.
Updated Mineral Resource Estimate:
The company plans to publish an updated MRE in the spring of 2027 following the completion of its winter drilling program.
Mineral Resource Estimate at Destiny
Destiny hosts an open pit-constrained MRE completed in March 2025 with the following gold inventory:
| Classification | Constraints | Cut-Off Grade (Au g/t) | Tonnage | Grade (Au g/t) | Contained Gold Oz |
| Indicated | OP | 0.30 | 6,752,000 | 0.91 | 196,549 |
| Inferred | OP | 0.30 | 28,560,000 | 0.87 | 794,886 |
CIM definition standards were followed for the resource estimate.
The 2025 resource model used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized domains defined by wireframed solids.
Mineral resources are constrained within pit shells (OP).
An exchange rate of 1.35 is utilized in calculations ($CAD/$USD).
Open pit cut-off of 0.30 g/t Au milled is based on the cost/tonne ($CAD/t) milled for incremental mining, processing, and G&A based on the following:
Long term metal prices of US$2,100/oz of gold;
Metallurgical recoveries are based on metallurgical testing recovery of 94%;
Average Bulk density (specific gravity) was determined for each lithology and/or mineralized domain within the deposit;
Total ore-based cost of CAD$22.50/t;
Processing costs of CAD$18.00/t and G&A costs of CAD$4.50/t milled;
Dilution of 10%; and
Pit Slope angle of 45 degrees.
Mineral Resources that are not mineral reserves do not have economic viability.
Numbers may not add due to rounding.
The resource estimate was prepared by Todd McCracken, P.Geo, of BBA E&C Inc. in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Caprock Mining Corp.
Caprock Mining Corp. is a Canadian mineral exploration company focused on exploring precious metals in Quebec and Ontario.
The Company has an option to earn a 100% interest in the Destiny gold property that comprises 127 mineral claims and encompasses an area of 5,013 hectares located less than two hours' drive from Val d'Or, Quebec. Destiny lies along a major deformation corridor in the Abitibi greenstone belt that includes the prolific Cadillac-Larder Lake, Destor-Porcupine and Casa Berardi fault zones which host numerous producing and development-stage gold deposits. The Project overlies a 6.0 km long segment of the poorly explored Despinassy shear zone which is a splay off the regional Chicobi Fault. Destiny hosts a significant, open pit-constrained, NI 43-101 compliant mineral resource estimate published in March 2025.
Additionally, the Company holds a 100% interest in three gold exploration properties in the historical Beardmore-Geraldton Gold Belt of Ontario - a belt that has produced over four million ounces of gold historically (Reference: Beardmore-Geraldton Gold Camp - Tashota Resources), and contains the sizeable Greenstone gold project (formerly known as the Hardrock gold project) which is being brought to production by Equinox Gold (TSE:EQX) (Reference: Greenstone Gold Mines - Mining & Processing).
Qualified Person
The scientific and technical information disclosed in this release has been reviewed and approved by Ms. Suzie Tremblay, who is a practising member of the Ordre Des Geologues du Quebec (OGQ #10664) and considered a 'Qualified Person' as defined under NI 43-101. All geoscience-related activities for Destiny are being conducted under the supervision of Ms. Suzie Tremblay, Vice President at Explo-Logik.
Forward-Looking Statements
All statements in this press release about anticipated future events or results constitute forward-looking statements including, but not limited to, statements with respect to: the Company's plans and expectations for the Property; the Company's plan to commence a drill program of 10-12 holes designed to expand the current open pit-constrained Mineral Resource Estimate westward at the Destiny gold property; the potential for a second drill program of 10-12 holes designed to expand the Mineral Resource Estimate eastward; the expected timing and commencement of the resource expansion drill program; the potential to materially expand the Mineral Resource westward and eastward along strike; the timing of exploration on the Property; the anticipated timing of receipt of assay results; the timing of the completion and publication of an updated Mineral Resource Estimate; the potential for additional gold mineralization on the Property; and the timing of the announcement of the Company's exploration plan for the Property. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," "intend," and statements that an event or result "may," "will," "should," "could," or "might" occur or be achieved and other similar expressions. Although Caprock believes that the expectations reflected in such forward-looking statements and information are reasonable, undue reliance should not be placed on forward-looking statements since Caprock can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Caprock's periodic filings with Canadian securities regulators. Material factors and assumptions used to develop these forward-looking statements include, but are not limited to: the assumption that the Company will be able to complete the planned drill programs on the anticipated schedule; assumptions regarding rig availability and ground conditions; assumptions regarding the timing of receipt of assay results from the laboratory; assumptions regarding the continuity of mineralization and the ability to expand the Mineral Resource; the assumptions underlying the current Mineral Resource Estimate, including cut-off grade, metallurgical recovery rates, commodity prices, and exchange rates as referenced in this press release; the assumption that required permits will remain in good standing; and assumptions regarding the availability of financing to fund the planned exploration programs. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Caprock's expectations include risks associated with the business of Caprock; risks related to reliance on technical information provided by Caprock; risks related to exploration and potential development of the Company's mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Caprock's filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). The potential for expansion of the Mineral Resource is conceptual in nature and there is no certainty that further exploration will result in the delineation of additional mineral resources. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Caprock does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
For More Information
Please contact:
Vishal Gupta
President & CEO
Tel.: (647) 466-0506
E-Mail: vgupta@caprockmining.com
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this Release.
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