Axcap Ventures Continues to Discover New High Grade Zones at Converse

About this update from Roxmore Resources Inc.

VANCOUVER, BC / ACCESS Newswire / August 7, 2025 / Axcap Ventures Inc. ("Axcap" or the "Company") (CSE:AXCP) (OTCID:GARLF) (FSE:A6V) is pleased to announce assay results from the second drill hole (CV25-002C) of its ongoing exploration program at the 100%-owned Converse Project in Nevada. Highlights from Hole CV25-002C: 18.01 metres grading 1.75 g/t gold , 1.05 g/t silver, and 0.02% copper within the Havallah Sequence from 228m, including: 11.43 metres grading 2.40 g/t gold, 0.91 g/t silver and 0.01% copper 10.85 metres grading 1.18 g/t gold, 3.55 g/t silver, and 0.39% copper from 925m The Golconda Thrust is a major structural feature associated with several large gold systems in Nevada, including the Marigold and Lonetree Mines. Axcap's drilling confirms that the Antler Peak Formation, a known host of mineralization at these deposits, is present beneath the current Converse resource. A broad interval of 153.83 metres grading 0.30 g/t gold, 1.22 g/t silver, and 0.10% copper within the Antler Peak Formation contained the highlighted intersection of 10.85 metres grading 1.18 g/t gold, 3.55 g/t silver, and 0.39% copper The hole successfully drilled through the Havallah Sequence and intersected the Antler Peak Formation below the Golconda Thrust (Figure 1). This is the first confirmation of these favorable host rocks at depth on the property and marks a major milestone in validating the Company's structural model targeting deeper intrusion-related gold, silver, and copper mineralization. Following the CV25-001C intercept of 10.85 metres grading 5.45 g/t gold , hole CV25-002C confirms the presence of higher-grade zones both within and adjacent to the existing in-pit resource (330 Mt @ 0.525 g/t Au, M&I). Together, these holes underscore the potential to enhance grade within the current resource and highlight significant exploration upside at depth and along the deposit margins. Figure 1. Long-Section Through Converse - Looking West Geological Significance This marks a significant step forward in understanding the litho-structural architecture at Converse. The geology now clearly parallels that of regional tier-one deposits such as Phoenix, Fortitude, and Marigold, where gold mineralization is concentrated along and beneath the Golconda Thrust in reactive mid-plate rocks (Figure 2). Figure 2. Cross-Section of Antler Peak Limestone Intercept - Looking West Comment from Management "Confirming the presence of the Antler Peak Formation below the Golconda Thrust is a key milestone in unlocking the deeper potential at Converse," commented Blake McLaughlin, Vice President Exploration of Axcap Ventures. "These results provide strong support for our view that Converse shares the same structural and geological setting as some of Nevada's largest and most productive gold deposits. We look forward to continuing to test this high-impact target and to show the potential that still remains within and surrounding this deposit ." Quality Control & Quality Assurance Drill holes are either collared with a PQ drill bit or pre-collared with an RC rig through overburden. Holes are reduced to HQ as the drill hole progresses into deeper more competent ground. Drill core produced by coring drill rigs is hydraulically extracted from the core tubes by the drill contractor, marked for consistent orientation and placed in core boxes with appropriate depth markers added. Full core boxes are then sealed before being transported by Axcap personnel to the Carlin Coreshack. Core is processed, geologically and geotechnically logged, checked for recovery, photographed, and marked for specific gravity, geotechnical studies and for assays. The core is cut in half onsite at the Coreshack, half-core is placed in plastic bags, zip-tied and grouped in burlap sacks and sealed for transport to the ALS Global sample preparation facility in Elko, Nevada. Sample preparation is done according to ALS Global code PREP-31Y. Once samples are prepared, ALS Global internally ships the samples to their assay laboratory in Reno, Nevada. The primary assay methods used are ALS Global codes Au-AA23 and ME-ICP61. The gold overlimit methods are Au-GRA21 and Au-SCR21 (overlimit triggers are 3 ppm and 10 ppm respectively). ALS Global is an independent, ISO-accredited laboratory with no affiliation to Axcap Ventures beyond its role as a third-party analytical service provider. The retained half-core is stored in a fenced-in yard until transported to the company's warehouse in Lovelock, Nevada. QA/QC is performed as each certificate is imported into Axcap's GeoSequel database. Performance charts are prepared for coarse blanks and all certified reference material used. Axcap uses OREAS standards for the Converse project. Performance charts are also reviewed regarding ALS lab prep and pulp duplicates on Webtrieve to identify potential analytical issues with coarse gold. Coarse blank above 10x over the lower detection limit (LDL) of the Au-AA23 method are re-run. For certified reference materials, the certified mean is considered the target. The certified standard deviation is used to calculate the acceptable range. The acceptable range is defined as within 3 standard deviations from the certified mean. Qualified Person Mr. Blake Mclaughlin, P.Geo., registered with the Professional Geoscientists Ontario, is the Company's Vice President of Exploration and a Qualified Person, as defined by National Instrument 43-101 - Standards for Disclosure for Mineral Projects. Mr. Mclaughlin has verified the data through site visits, inspection of drill core, review of original assay certificates, and confirmation of QA/QC protocols. No limitations were encountered during the verification process, and the data is considered reliable for the purposes of this disclosure. For further information, please contact: Blake McLaughlin, VP Exploration [email protected] [email protected] www.axcapventures.ca Cautionary Statement Regarding "Forward-Looking" Information This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions, including but not limited to exploration programs at its Converse Project and the results thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's short form base shelf prospectus dated April 16, 2025, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. Full hole details : Collar HoleNo Coordinate System Easting Northing Elevation Azimuth Dip Depth CV25-002C NAD 83 UTM Zone 11 477697.8 4505993 1527.055 Vertical 1449 Hole ID From (m) to (m) Au Final (g/t) Ag Final (g/t) Cu Final (ppm) CV25-002C 228.296 229.667 0.72 1.0 97 CV25-002C 229.667 231.191 2.92 1.1 317 CV25-002C 231.191 232.715 2.19 0.6 70 CV25-002C 232.715 233.782 1.01 1.0 55 CV25-002C 233.782 234.514 6.38 2.0 94 CV25-002C 234.514 235.916 0.71 0.6 22 CV25-002C 235.916 237.44 1.54 0.8 85 CV25-002C 237.44 238.049 1.47 0.8 95 CV25-002C 238.049 239.573 2.50 0.8 68 CV25-002C 239.573 241.097 3.81 1.0 199 CV25-002C 241.097 242.621 0.61 0.6 130 CV25-002C 242.621 243.536 0.73 4.0 734 CV25-002C 243.536 244.938 0.52 0.9 158 CV25-002C 244.938 246.309 0.59 0.9 272 Hole ID From (m) To (m) Au Final (ppm) Ag Final (ppm) Cu Final (ppm) CV25-002C 925.161 925.679 0.29 1.2 855 CV25-002C 925.679 926.716 0.467 1.2 1045 CV25-002C 926.716 928.026 1.81 7.7 6740 CV25-002C 928.026 928.636 0.665 1.9 1685 CV25-002C 928.636 929.124 1.15 1.2 662 CV25-002C 929.124 930.556 0.487 1.2 883 CV25-002C 930.556 931.379 0.443 2.1 1605 CV25-002C 931.379 932.08 1.505 6.2 7690 CV25-002C 932.08 933.543 1.76 3.3 4250 CV25-002C 933.543 934.122 0.843 2.7 2890 CV25-002C 934.122 935.585 0.51 2.1 2090 CV25-002C 935.585 936.5 2.44 7.5 10350 CV25-002C 936.5 937.567 1.21 2.4 3420 CV25-002C 937.567 938.816 0.258 1.4 1535 CV25-002C 938.816 939.517 0.106 0.8 588 CV25-002C 939.517 940.919 0.135 0.6 421 CV25-002C 940.919 942.443 0.25 1.8 1155 CV25-002C 942.443 943.967 0.052 0.25 109 CV25-002C 943.967 945.491 0.153 0.8 661 CV25-002C 945.491 947.015 0.105 0.7 363 CV25-002C 947.015 948.052 0.073 0.5 394 CV25-002C 948.052 949.301 0.288 0.25 486 CV25-002C 949.301 949.942 0.734 0.6 731 CV25-002C 949.942 950.978 0.3 0.25 374 CV25-002C 950.978 952.045 0.243 0.6 126 CV25-002C 952.045 952.654 0.31 0.5 227 CV25-002C 952.654 954.087 0.42 0.25 162 CV25-002C 954.087 954.818 0.691 0.25 61 CV25-002C 954.818 955.977 0.157 0.25 198 CV25-002C 955.977 956.708 0.339 0.7 313 CV25-002C 956.708 957.805 0.444 0.6 487 CV25-002C 957.805 958.354 0.063 0.25 110 CV25-002C 958.354 959.299 0.114 0.25 101 CV25-002C 959.299 959.97 0.315 0.25 209 CV25-002C 959.97 961.28 0.07 0.25 300 CV25-002C 961.28 962.56 0.025 0.25 155 CV25-002C 962.56 963.81 0.006 0.25 84 CV25-002C 963.81 964.176 0.101 0.25 478 CV25-002C 964.176 965.212 0.027 0.25 133 CV25-002C 965.212 965.883 0.05 0.25 151 CV25-002C 965.883 966.279 0.03 0.25 242 CV25-002C 966.279 967.468 0.323 0.25 503 CV25-002C 967.468 968.931 0.062 0.25 185 CV25-002C 968.931 969.754 0.248 0.8 819 CV25-002C 969.754 971.186 0.211 1.2 1395 CV25-002C 971.186 971.918 0.058 0.7 402 CV25-002C 971.918 972.405 0.055 0.25 189 CV25-002C 972.405 973.289 0.506 0.5 417 CV25-002C 973.289 973.777 0.207 1 715 CV25-002C 973.777 974.966 0.22 0.25 161 CV25-002C 974.966 975.911 0.108 0.25 113 CV25-002C 975.911 977.252 0.375 0.8 528 CV25-002C 977.252 978.349 0.373 0.8 537 CV25-002C 978.349 978.959 0.058 0.5 213 CV25-002C 978.959 979.934 0.069 0.5 282 CV25-002C 979.934 980.452 0.027 0.25 149 CV25-002C 980.452 981.61 0.188 0.6 502 CV25-002C 981.61 982.769 0.114 0.8 596 CV25-002C 982.769 983.5 0.19 0.5 506 CV25-002C 983.5 984.445 0.172 0.9 599 CV25-002C 984.445 985.237 0.095 0.7 476 CV25-002C 985.237 985.634 0.058 0.25 218 CV25-002C 985.634 986.091 0.154 0.25 267 CV25-002C 986.091 987.005 0.08 0.25 148 CV25-002C 987.005 988.316 0.155 0.5 343 CV25-002C 988.316 989.627 0.096 0.25 197 CV25-002C 989.627 990.663 0.026 0.25 125 CV25-002C 990.663 991.577 0.127 1.3 555 CV25-002C 991.577 993.193 0.276 1.7 1005 CV25-002C 993.193 994.199 0.51 1.8 1505 CV25-002C 994.199 994.564 0.132 2.5 588 CV25-002C 994.564 995.296 0.129 2.1 583 CV25-002C 995.296 996.637 0.115 2.6 1415 CV25-002C 996.637 997.582 0.045 0.25 250 CV25-002C 997.582 998.405 0.054 0.9 495 CV25-002C 998.405 1000.234 0.188 1 552 CV25-002C 1000.234 1001.3 0.116 1.2 604 CV25-002C 1001.3 1002.002 0.036 0.5 306 CV25-002C 1002.002 1002.55 0.1 0.6 327 CV25-002C 1002.55 1003.343 0.057 0.7 250 CV25-002C 1003.343 1004.257 0.335 2.2 897 CV25-002C 1004.257 1005.232 0.29 1.5 997 CV25-002C 1005.232 1006.086 0.084 0.25 456 CV25-002C 1006.086 1006.756 0.441 3.2 2510 CV25-002C 1006.756 1007.549 0.349 2.8 2050 CV25-002C 1007.549 1008.981 0.161 1.3 843 CV25-002C 1008.981 1009.682 0.362 2.2 1490 CV25-002C 1009.682 1010.475 0.084 1 639 CV25-002C 1010.475 1011.115 0.102 1.3 475 CV25-002C 1011.115 1011.725 0.069 0.6 417 CV25-002C 1011.725 1012.09 0.396 2.1 1550 CV25-002C 1012.09 1012.852 0.251 1.7 811 CV25-002C 1012.852 1013.858 0.316 1.5 708 CV25-002C 1013.858 1014.864 0.25 1.8 1290 CV25-002C 1014.864 1015.474 0.229 1.9 1345 CV25-002C 1015.474 1016.784 0.395 1.3 879 CV25-002C 1016.784 1017.668 0.369 3.5 3370 CV25-002C 1017.668 1018.522 0.111 1.2 1145 CV25-002C 1018.522 1019.223 0.109 0.7 437 CV25-002C 1019.223 1019.771 0.136 1 894 CV25-002C 1019.771 1020.472 0.07 0.8 531 CV25-002C 1020.472 1021.661 0.391 1.9 1595 CV25-002C 1021.661 1022.149 0.188 1.1 576 CV25-002C 1022.149 1023.399 0.083 0.8 483 CV25-002C 1023.399 1024.679 0.04 0.5 293 CV25-002C 1024.679 1025.563 0.222 2.6 2230 CV25-002C 1025.563 1026.386 0.049 1.6 509 CV25-002C 1026.386 1027.3 0.024 0.25 268 CV25-002C 1027.3 1028.245 0.106 1 772 CV25-002C 1028.245 1029.037 0.074 1.6 1135 CV25-002C 1029.037 1029.982 1.38 4.8 4740 CV25-002C 1029.982 1031.08 0.029 0.25 250 CV25-002C 1031.08 1032.207 0.338 0.9 633 CV25-002C 1032.207 1033.274 0.064 0.8 253 CV25-002C 1033.274 1034.432 0.09 1.8 1175 CV25-002C 1034.432 1035.712 0.095 1.2 956 CV25-002C 1035.712 1036.322 0.093 1.3 1005 CV25-002C 1036.322 1037.267 0.075 2.2 600 CV25-002C 1037.267 1037.998 0.147 1.8 2170 CV25-002C 1037.998 1039.065 0.154 3.5 3490 CV25-002C 1039.065 1039.705 0.039 0.5 243 CV25-002C 1039.705 1041.199 0.187 1.8 1600 CV25-002C 1041.199 1041.656 0.093 1.4 1150 CV25-002C 1041.656 1043.18 0.169 2.1 1700 CV25-002C 1043.18 1043.668 0.13 1.5 1145 CV25-002C 1043.668 1044.613 0.18 1.5 1095 CV25-002C 1044.613 1045.344 0.22 1.4 1305 CV25-002C 1045.344 1046.533 0.028 0.25 246 CV25-002C 1046.533 1046.99 0.254 2 1820 CV25-002C 1046.99 1048.118 0.102 0.8 601 CV25-002C 1048.118 1049.002 0.023 0.25 93 CV25-002C 1049.002 1049.947 0.173 1.2 1155 CV25-002C 1049.947 1050.77 0.621 5.1 5940 CV25-002C 1050.77 1051.196 0.308 3.3 3730 CV25-002C 1051.196 1052.477 0.032 0.25 137 CV25-002C 1052.477 1053.574 0.075 0.5 356 CV25-002C 1053.574 1054.061 0.074 1.2 976 CV25-002C 1054.061 1055.006 0.157 0.6 687 CV25-002C 1055.006 1055.829 0.301 3.6 3930 CV25-002C 1055.829 1057.262 0.048 1 2280 CV25-002C 1057.262 1058.755 0.085 0.7 1065 CV25-002C 1058.755 1059.7 0.205 1.3 1205 CV25-002C 1059.7 1060.31 0.261 2.1 1435 CV25-002C 1060.31 1061.681 0.181 0.25 225 CV25-002C 1061.681 1063.205 0.146 0.7 764 CV25-002C 1063.205 1064.608 0.516 1.1 697 CV25-002C 1064.608 1066.193 0.298 0.5 518 CV25-002C 1066.193 1067.717 1.035 0.8 510 CV25-002C 1067.717 1069.241 0.319 1 706 CV25-002C 1069.241 1070.795 0.543 0.8 443 CV25-002C 1070.795 1072.289 0.745 0.5 144 CV25-002C 1072.289 1073.813 0.188 0.25 81 CV25-002C 1073.813 1075.337 1.065 0.5 148 CV25-002C 1075.337 1076.099 1.71 0.25 230 CV25-002C 1076.099 1076.495 0.551 5.1 2270 CV25-002C 1076.495 1077.348 0.157 0.25 336 CV25-002C 1077.348 1077.897 0.1 7 8080 CV25-002C 1077.897 1078.994 0.379 0.25 58

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