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Gemdale Gold Inc.: Gemdale Gold Completes Phase 2 2026 Drill Program at its Pontio Gold Project, Finland

VANCOUVER, BC / ACCESS Newswire / October 21, 2026 / Gemdale Gold Inc. (TSXV:GEMG)(OTCQB:GDGIF) ("Gemdale" or the "Company") is pleased to announce the successful completion of its Phase 2 2026 infill drilling programme at its Pontio gold project, comprising 2,860 metres of drilling across 14 holes, primarily focused on infilling the S1 Sector to a 50-metre drill profile spacing.

The programme represents an important step towards the Company's planned maiden Mineral Resource Estimate ("MRE"), expected in early 2027.

Phase 2 Drilling Completed

The Phase 2 programme was designed to improve drill density and further define the continuity and geometry of the gold mineralisation within the S1 Sector. The tighter 50-metre profile spacing is intended to provide additional geological and assay data to support the evaluation and potential classification of the mineral resource.

The programme follows the successful completion of approximately 5,000 metres of Phase 1 drilling earlier in 2026, which confirmed previously identified gold mineralisation across the N1, N2 and S1 Sectors over several kilometres of strike. Previous drilling has demonstrated encouraging mineralised widths and grades, with widths of up to approximately 150 metres.

The Company looks forward to receiving assay results from the Phase 2 programme over the coming weeks and months.

In parallel, metallurgical test work is underway with SLR Consulting Ltd. in the United Kingdom to investigate potential processing routes and assess gold recoveries. Preliminary metallurgical results are anticipated in the coming weeks, and will provide additional important input into the Company's understanding of the project's development potential.

The integration of the drilling results, historical geological data and preliminary metallurgical test work will support the Company's ongoing technical evaluation and preparation for the planned maiden MRE.

Toby Strauss, President and CEO comments "We are pleased to have completed our Phase 2 drilling programme this year. This represents another important milestone as we advance the project towards our maiden Mineral Resource Estimate, targeted for early 2027.

"With approximately 7,860 metres of drilling completed across our Phase 1 and Phase 2 programmes this year, in addition to around 10,000 metres of historical drilling, we are building the geological dataset required to support the resource estimation process focussed, for the moment, only on the very shallow portion of the mineralized system on the M2 Trend at Pontio. We now look forward to receiving the Phase 2 assay results over the coming months, alongside preliminary metallurgical test work results, which will further inform our understanding of the project's potential."

The Company will provide further updates as assay results and metallurgical test work results become available.

About Pontio

The Pontio Gold Project lies in western-central Finland, in an historical mining district featuring extremely good infrastructure, including paved roads, power and rail lines within a few kilometres. A highly skilled labour force and a high level of local services are available, including port access, smelters and refineries. Despite a long history of base metals mining, gold exploration in the area is still in its infancy; Pontio was only discovered in 2011 when the area's first gold mine (Laiva, some 45 km to the NW) was being commissioned.

Gold mineralisation has so far been outlined by drilling over a 4km strike length along the M2 Trend; mineralisation subcrops just beneath the surface, covered by a thin layer of soil, sand and gravel, and extends to at least 150m vertical and ranges from 20->150m in estimated true thickness. Gold mineralisation is mainly hosted in subvertical diorite and diorite porphyry dykes intruding gneissic metasediments that occur along a NNW trending mineralised corridor.

The M2 Trend is one of a number of identified potential gold bearing structures with the others, such as the M1, M2.5 and M3 Trends yet to have significant exploration along their lengths. The M2 Trend mineralisation can be subdivided into several Sectors labelled N1, N2, S1 and S2.

Gold mineralisation is typically fine-grained and associated with disseminated chalcopyrite and pyrrhotite in generally weakly sheared and variably potassic altered intrusive rocks. Alteration is in the form of biotite amphibole and potassium felspar. Unusually for the area there is no particular association with quartz veining and arsenopyrite mineralisation. Rarely, molybdenum is noted with quartz veining. Mineralisation postdates peak metamorphism and is intimately associated with the late intrusive diorite porphyries which are younger than the diorite dykes. The deposit is enigmatic in style but has affinities with the roots of a deep level porphyry system or a disseminated orogenic style of gold mineralisation.

Drilling, Core Sampling and QA/QC Protocols

The drill programme was contracted to Nivalan Timantikairaus Oy ("NTKOY"). Drilling was completed with an Atlas Copco CS1000 rig drilling HQ3 sized core. The Phase 2 drill programme started in August 2026 and was completed in October 2026.

Drill core is logged and sampled in a secure core storage facility located in Ylivieska, Finland. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to ALS Minerals, Outokumpu, an international accredited mineral analysis laboratory, for sample prep and analysis. All samples are analysed for gold using Fire Assay-AA techniques (method Au-AA23) and multi-element analysis (method ME-MS61). As part of Gemdale's quality assurance/quality control program (QA/QC), certified gold reference standards are routinely inserted into the sample stream every 20th sample (5%). The Qualified Person has reviewed the results of the QA/QC programme and confirms that no significant QAQC issues were noted with the results reported herein.

Qualified Person and NI 43-101 Disclosure

Dr. Toby Strauss (CGeol.; EurGeol.), Director, President and CEO of the Company, is the Qualified Person as defined by National Instrument 43-101. Dr. Strauss is not independent of the Company. Dr Strauss has reviewed and approved the technical and scientific content of this news release.

More About Gemdale Gold

Gemdale Gold Inc. owns a portfolio of highly prospective exploration licenses in Finland, and is focused on making significant new gold and critical metal discoveries on these properties. The Company has been active in Finland since 2018. The Company's 100% owned projects include:

Pontio Gold Project (western-central Finland): Historical and recent drilling has outlined near-surface gold mineralisation along a multi-kilometre trend that remains open along strike and at depth. The Company started an infill and extension drill programme in February, 2026, and, based on this programme, plans to deliver a maiden mineral resource estimate in early 2027. Full exploration information has been disclosed in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") in a report titled "NI 43-101 Technical Report on the Pontio Project, Central Ostrobothnia, Finland" with an effective date of 30 September, 2025 and filed on SEDAR on 16 January 2026.

Isoneva (western-central Finland): Exploration stage gold project located proximal to extensive boulder train anomalies. The property is subject to an option agreement (the "Isoneva Option") with Nordique Resources Inc. ("Nordique") pursuant to which Nordique may earn a 100% interest by, among other things, funding exploration expenditures over a three-year period and making additional financial commitments to the Company. For more information on the Isoneva Option, please see the Company's final long form prospectus dated January 30, 2026 under the heading "Business of the Corporation - January 1, 2025 to the date hereof".

Lapland Projects (northern Finland): A group of exploration permits and applications located within a recognised gold and base-metal exploration region, in proximity to several recent regional discoveries, including Rupert Resources' Ikkari gold project.

Nuotti (western-central Finland): Copper-nickel-platinum-palladium exploration license where limited historical government drilling indicates the presence of near-surface copper-PGM mineralisation.

Savo / Rantasalmi (southeastern Finland): Exploration license application area containing a historical inferred resource estimate of 3.23 million tonnes grading 2.7 g/t gold for approximately 276,000 ounces of gold prepared by a prior operator, Rupert Resources Ltd., and disclosed in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

In November 2018, Rupert Resources Ltd, released an NI 43-101 Mineral Resource Estimate completed by Brian Wolfe (Qualified Person) of International Resource Solution Pty Ltd. The NI 43-101 Technical Report was filed by Rupert Resources Ltd on SEDAR on 9th November, 2018. No new data subsequent to an earlier 2011 estimate was included in this study. This study used Multiple Indicator Kriging (MIK) for the estimation of grade into the block model. This study assumed a combined open pit and underground mining operation, recoveries of 85-90% and a gold price of EUR 1,200/oz (current gold price ~ EUR 4240/oz). The use of MIK as an estimation method, along with the requirements of a greater degree of confidence in the geological continuity for underground mining, were given as the reasons for the assigned lower resource category of Inferred Resources compared to the 2011 Resource Estimate. The Resource Estimate was reported at a cut-off grade of 1.5 g/t Au.

Osikonmäki Mineral Resource Estimate for Rupert Resources Ltd, 9 Nov 2018

Year

Cut-off Au g/t

Classification

Tonnes

Au (g/t)

Au oz

2018

1.5

Inferred

3,230,000

2.7

276,000

The Company is not aware of any further drilling or sampling being conducted on the property since this historical estimate was completed. Gemdale Gold Inc is not treating this historical estimate as a current resource estimate. Neither Gemdale Gold Inc nor a suitable Qualified Person, has done sufficient work to classify the historical estimate as a current Mineral Resource Estimate. The company believes this historical estimate is relevant and reliable in providing insight into the potential mineral resources for the project based on historical drilling completed to date. Gemdale Gold believes that further drilling is not required to verify or upgrade these historical resources to a current Mineral Resource Estimate, but that it is necessary for a Qualified Person to review the assumptions and methodology used for the estimation.

Qualified Person: The scientific and technical information contained in this news release has been reviewed and approved by Toby Strauss, CGeol., EurGeol, a "Qualified Person" as defined in NI 43-101. Dr. Strauss, as President and CEO of the Company, is not independent of the Company.

Additional disclosure, including the Company's financial statements, technical reports, news releases and other information, can be obtained at https://gemdalegold.com/ or on SEDAR+ at https://www.sedarplus.ca/home/#.

ON BEHALF OF GEMDALE GOLD INC

"Dr. Toby Strauss"
President & CEO

For Further Information Please Contact:

Mr. Paul Durham, MSc.Mr. Patrick Chidley, MS, CFA
Director and EVP Corporate DevelopmentExecutive Chairman
Cell: +1 203-940 2538Cell: +1 917-991 7701
Email: paul.durham@gemdale.euEmail: patrick.chidley@gemdale.eu

Website: www.gemdalegold.com

Cautionary Note on Forward-Looking Statements

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information includes, but is not limited to, statements regarding the Company's exploration and development plans, in particular the ongoing drill program on the Pontio Gold Project, other anticipated drill programs, potential mineralisation, resource estimates, future financing plans, use of proceeds, regulatory approvals, market conditions and the Company's future business objectives. Forward-looking information is generally identified by the use of words such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," "believes," or variations of such words and phrases, or statements that certain actions, events or results "may," "could," "would," "might" or "will" occur or be achieved.

Forward-looking information is based on a number of assumptions that management believes to be reasonable at the time such statements are made, including, without limitation, assumptions regarding the availability of capital, the receipt of required regulatory approvals, the continuation of favourable market conditions, the accuracy of historical and technical data, and the Company's ability to execute its exploration and development plans as currently contemplated. However, forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking information. Such factors include, without limitation, risks related to exploration and development activities, commodity price fluctuations, availability of financing, regulatory approvals, environmental and permitting risks, operational risks, and general economic and market conditions.

Accordingly, readers should not place undue reliance on forward-looking information. Although the Company believes the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

ANNEXURE 1: Location of Pontio Drillholes

Hole

Easting

Northing

Elevation

Length_m

Azimuth

Dip

Drill_Completed

BELANP001

403262

7120134

84.9

89.3

268.7

-45

22/09/2011

BELANP002

402932

7120148

83.4

44.35

95.8

-45

26/09/2011

BELANP003

403014

7120160

85.9

102.65

273.8

-45

28/09/2011

BELANP004

403292

7120338

82.1

76.75

275.1

-45

29/09/2011

BELANP005

403245

7120353

82.0

79.9

279.1

-45

30/09/2011

BELANP006

403311

7120528

81.3

80.55

277.7

-45

05/10/2011

BELANP007

403011

7121003

81.0

77.35

272.9

-45

06/10/2011

BELANP008

402187

7120992

82.0

98.6

92.6

-45

12/10/2011

BELANP009

402184

7120992

81.9

83.22

273.1

-45

15/10/2011

BELANP010

402255

7120702

82.9

90.05

277.0

-45

18/10/2011

BELANP011

402191

7119943

85.1

85.85

267.8

-45

22/10/2011

BELANP012

402226

7119940

85.5

119.45

271.3

-45

22/05/2012

BELANP013

402231

7119992

86.9

90.65

271.2

-45

23/05/2012

BELANP014

402223

7119894

85.7

83.25

273.0

-45

24/05/2012

BELANP015

402221

7120038

85.3

89.15

269.2

-45

25/05/2012

BELANP016

403032

7121002

80.7

76.45

267.0

-45

27/05/2012

BELANP017

402264

7119935

86.2

139.9

271.5

-45

10/01/2013

BELANP018

402249

7120040

85.5

128.2

272.2

-45

13/01/2013

BELANP019

402159

7119941

84.1

98.2

270.6

-45

16/01/2013

BELANP020

402225

7120179

86.9

122.1

271.0

-45

18/01/2013

BELANP021

402242

7119781

86.9

119.15

263.6

-45

20/01/2013

BELANP022

402254

7119627

93.0

89.45

270.2

-45

21/01/2013

BELANP023

402220

7118484

97.9

55.55

273.2

-45

25/01/2013

BELANP024

402523

7117845

99.0

104.4

268.2

-45

27/01/2013

BELANP025

402327

7119529

89.2

42.9

273.4

-45

22/01/2013

BELANP026

402291

7119631

90.4

101.45

268.3

-45

01/02/2013

BELANP027

402201

7119832

85.6

70.25

269.4

-45

30/01/2013

BELANP028

402193

7120231

83.2

95.45

269.2

-45

03/02/2013

PONT001

402259

7120037

86.5

113.75

278.6

-70

25/07/2019

PONT002

402243

7119892

87.8

190.7

272.0

-65

29/07/2019

PONT003

402245

7119442

90.7

95.5

273.5

-45

31/07/2019

PONT004

402295

7119442

90.1

77.42

281.9

-45

01/08/2019

PONT005

402279

7119259

91.9

80.5

286.9

-45

06/08/2019

PONT006

402326

7119267

90.6

83.4

285.4

-45

07/08/2019

PONT007

402324

7119071

91.5

130

275.8

-45

13/08/2019

PONT008

402271

7119072

92.2

80.5

265.0

-45

14/08/2019

PONT009

402349

7118862

92.8

95

291.9

-45

15/08/2019

PONT010

402401

7118871

91.9

89.5

260.6

-45

19/08/2019

PONT011

402433

7118671

94.7

83.8

289.2

-45

20/08/2019

PONT012

402478

7118669

93.5

82.2

269.9

-45

21/08/2019

PONT013

402516

7118479

94.5

80.8

271.6

-45

22/08/2019

PONT014

402466

7118482

97.1

77.9

270.3

-45

26/08/2019

PONT015

402416

7118483

99.2

75

270.0

-45

27/08/2019

PONT016

402324

7118480

100.7

152.3

270.4

-45

29/08/2019

PONT017

402463

7118275

99.3

77.6

270.6

-45

02/09/2019

PONT018

402535

7118272

99.9

110.9

277.0

-45

03/09/2019

PONT019

402481

7118077

99.1

74

272.8

-45

04/09/2019

PONT020

402536

7118081

98.4

92.7

261.6

-45

05/09/2019

PONT021

402542

7117676

100.2

86.5

266.1

-45

10/09/2019

PONT022

402593

7117678

99.9

89.6

266.7

-45

11/09/2019

PONT023

402567

7117859

99.9

86.1

275.6

-45

12/09/2019

PONT024

402352

7119269

89.8

170.9

270.4

-55

14/01/2020

PONT025

402306

7119348

90.7

76.5

271.0

-45

15/01/2020

PONT026

402200

7119351

90.5

179.3

90.2

-55

20/01/2020

PONT027

402321

7119438

90.1

146.5

269.3

-55

22/01/2020

PONT028

402217

7119549

91.1

80.5

89.2

-45

24/01/2020

PONT029

402182

7119548

90.7

147.2

83.6

-55

29/01/2020

PONT030

402179

7119647

92.5

149.8

95.5

-55

31/01/2020

PONT031

402214

7119749

89.7

80.6

88.5

-45

01/02/2020

PONT032

402180

7119744

89.9

146.5

90.1

-55

04/02/2020

PONT033

402214

7119835

87.1

91.3

102.4

-45

05/02/2020

PONT034

402080

7119944

85.3

223.1

100.5

-55

10/02/2020

PONT035

402256

7118849

92.7

58.8

93.7

-45

28/04/2020

PONT036

402220

7118850

92.0

55.7

90.3

-45

29/04/2020

PONT037

402343

7119151

90.2

88.6

269.7

-45

04/05/2020

PONT038

402305

7119550

91.3

162

271.2

-55

07/05/2020

PONT039

402099

7120351

84.6

113.8

89.9

-45

12/05/2020

PONT040

402107

7120450

83.6

121.3

90.0

-45

18/05/2020

PONT041

401935

7120248

85.1

56.1

90.5

-45

19/05/2020

PONT042

401843

7120144

86.1

50.3

89.9

-45

20/05/2020

PONT043

401828

7120250

87.8

64.5

89.5

-45

21/05/2020

PONT044

401910

7120450

85.1

64.5

89.8

-45

27/05/2020

PONT045

401807

7120446

84.1

53.1

90.0

-45

26/05/2020

PONT046

401568

7120449

86.6

49.6

90.7

-45

28/05/2020

PONT047

401388

7120448

88.6

68.1

89.6

-45

02/06/2020

PONT048

401415

7120251

87.0

58.8

90.1

-45

09/06/2020

PONT049

401261

7120448

90.1

87.9

91.4

-45

03/06/2020

PONT050

401206

7120250

91.8

61.6

90.1

-45

04/06/2020

PONT051

401236

7120144

92.8

57.4

270.1

-45

08/06/2020

PONT052

402258

7119991

87.7

158

270.2

-55

18/06/2020

PONT053

402350

7119351

89.5

172.76

271.4

-45

09/04/2021

PONT054

402204

7119253

92.9

223.64

91.7

-55

13/04/2021

PONT055

402287

7119938

88.7

250.3

271.3

-50

19/04/2021

PONT056

402667

7117452

101.4

68

270.3

-45

21/04/2021

PONT057

402571

7117451

100.8

145.9

270.0

-45

23/04/2021

PONT058

402623

7117449

101.8

146.7

269.8

-45

28/04/2021

PONT059

402517

7117253

101.5

106.4

91.3

-45

30/04/2021

PONT060

402479

7118851

91.6

145.7

273.9

-50

05/05/2021

PONT061

402685

7117050

101.1

78.75

90.0

-45

19/10/2023

PONT062

402585

7117050

101.5

92.7

90.0

-45

24/10/2023

PONT063

402415

7116858

104.1

60.9

90.0

-45

27/10/2023

PONT064

402385

7116858

103.6

49.9

90.0

-45

30/10/2023

PONT065

402550

7116160

107.2

87.88

90.0

-45

02/11/2023

PONT066

402765

7116450

103.8

73.9

90.0

-45

06/11/2023

PONT067

402845

7116450

103.4

75.7

90.0

-45

08/11/2023

PONT068

402820

7115850

107.4

75.64

90.0

-45

11/11/2023

PONT069

402170

7118950

93.3

79.23

90.0

-45

15/11/2023

PONT070

401880

7120650

84.7

107.7

270.0

-45

22/11/2023

PONT071

402222

7120101

85.1

103.8

270.0

-45

30/01/2026

PONT072

402199

7120100

85.0

86

270.0

-45

01/02/2026

PONT073

402277

7119705

89.8

203.2

270.0

-45

06/02/2026

PONT074

402275

7119599

92.3

203.3

270.0

-45

10/02/2026

PONT075

402124

7119595

90.5

200.4

90.0

-45

14/02/2026

PONT076

402297

7119495

90.7

101.7

270.0

-45

16/02/2026

PONT077

402298

7119495

90.5

152.8

270.0

-60

19/02/2026

PONT078

402438

7119481

88.9

86.5

270.0

-45

22/02/2026

PONT079

402309

7119398

90.1

225.15

270.0

-45

25/02/2026

PONT080

402330

7119392

89.7

89.8

270.0

-55

27/02/2026

PONT080B

402326

7119392

89.8

299.8

270.0

-55

05/03/2026

PONT081

402330

7119300

90.4

203.7

270.0

-45

08/03/2026

PONT082

402348

7119300

89.8

251.9

270.0

-60

12/03/2026

PONT083

402443

7119297

89.3

77

270.0

-45

17/03/2026

PONT084

402351

7119249

89.9

164.06

270.0

-45

16/03/2026

PONT085

402445

7117850

100.8

206.6

90.0

-45

20/03/2026

PONT086

402579

7117749

99.9

254.6

270.0

-45

24/03/2026

PONT087

402458

7117551

102.4

200.7

90.0

-45

27/03/2026

PONT088

402488

7117350

101.8

164.8

270.0

-45

30/03/2026

PONT089

402811

7116452

103.7

110.7

90.0

-55

01/04/2026

PONT090

402751

7116648

103.2

152.7

90.0

-45

08/04/2026

PONT091

402668

7116647

104.4

149.8

90.0

-45

10/04/2026

PONT092

402598

7117355

100.6

140.8

270.0

-45

12/04/2026

PONT093

402567

7117554

100.2

227.32

270.0

-45

15/04/2026

PONT094

402641

7117676

99.8

281.7

270.0

-45

19/04/2026

PONT095

402445

7117950

99.7

224.8

90.0

-45

23/04/2026

PONT096

402413

7117753

101.1

221.7

90.0

-45

26/04/2026

PONT097

402217

7120075

85.2

104.65

260.0

-45

29/04/2026

PONT098

402198

7119871

86.0

119.9

270.0

-45

01/05/2026

PONT099

402490

7117350

101.8

137.80

90

-45

22/08/2026

PONT100

402421

7117450

101.7

191.70

90

-45

29/08/2026

PONT101

402475

7117500

102.2

122.68

90

-45

01/09/2026

PONT102

402460

7117600

102.1

173.80

90

-45

06/09/2026

PONT103

402433

7117800

101.7

209.70

90

-45

10/09/2026

PONT104

402418

7117900

100.4

239.50

90

-45

13/09/2026

PONT105

402457

7118000

99.6

200.46

90

-45

17/09/2026

PONT106

402610

7118080

97.5

182.01

270

-45

22/09/2026

PONT107

402620

7117900

99.4

269.68

270

-45

26/09/2026

PONT108

402600

7117800

100.1

290.60

270

-45

30/09/2026

PONT109

402587

7117600

101.2

272.70

270

-45

07/10/2026

PONT110

402352

7117500

102.5

299.00

90

-55

11/10/2026

PONT111

402530

7117150

101.6

124.20

90

-45

14/10/2026

PONT112

402840

7116350

103.4

146.80

90

-45

17/10/2026

R336

401607

7116611

100.0

70.7

270.0

-40

31/12/1987

R337

401018

7116639

100.0

120.3

270.0

-40

31/12/1987

R338

400749

7116652

100.0

125.8

90.0

-40

31/12/1987

R460

401490

7118569

93.0

60.2

90.0

-45

31/12/2001

R461

401505

7119008

93.0

62

90.0

-45

31/12/2001

R462

401505

7119008

93.0

80

90.0

-60

31/12/2001

R463

401358

7119015

89.0

60

90.0

-45

31/12/2001

R464

401560

7119006

94.0

89.3

270.0

-50

31/12/2001

R465

401558

7118966

94.0

98.1

270.0

-55

31/12/2001

R466

401558

7118966

94.0

81

90.0

-45

31/12/2001

SOURCE: Gemdale Gold Inc.



View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/gemdale-gold-completes-phase-2-2026-drill-program-at-its-pontio-gold-project-finl-1239038

© 2026 ACCESS Newswire
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