Gold Strike Resources Announces Receipt of a 10-Year Class 3 Quartz Exploration Permit for Gold Strike One Project and Provides Commentary with Respect to Mineral Tenure

About this update from Gold Strike Resources Corp.

Highlights The Yukon government has issued a Class 3 Quartz Exploration Permit for the GS1 Project. The Permit has a 10-year term and allows construction of a camp to house up to 30 people. The Company is aware that Snowline Gold Corp. has disclosed that certain components of its proposed Valley Deposit mine development will overlay part of the GS1 Project. The Company intends to protect the integrity of its land package, while preserving all rights associated with the Permit and the quartz claims comprising the GS1 Project. Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - Gold Strike Resources Corp. (TSXV: GSR) (the "Company", "Gold Strike" or "GSR") has received a Class 3 Quartz Exploration Permit (the "Permit") for its Gold Strike One project (the "GS1 Project") from the Yukon Department of Energy, Mines and Resources. The Permit was granted following a positive recommendation from the Yukon Environmental and Socio-economic Assessment Board and contains customary conditions to ensure environmental stewardship of the land and respect for traditional lifestyles and activities of the First Nation of Na-Cho Nyäk Dun ("FNNND") on whose traditional territory the GS1 Project is located. The Permit provides the right to conduct advanced exploration work on the GS1 Project, including drilling, and is valid for a 10-year term. Peter Miles, Chief Executive Officer of Gold Strike, commented, "Receiving the Class 3 Exploration Permit is a major step for Gold Strike and is expected to allow the Company to ramp up its exploration efforts in 2026 and beyond. The 2026 exploration program will significantly expand soil sampling across the entire property while focusing on the anomalous areas already identified. Concurrently, the Company will seek to systematically sample outcrop in the anomalous zones. This work, coupled with an extensive geophysical program, will define drill targets for future drill programs." GS1 Project The Company believes that the GS1 Project is highly prospective for a RIRGS-type deposit.1 The GS1 Project is located approximately 225 km east of Mayo and comprises 107 contiguous quartz mineral claims totalling 5,510 acres (2,230 hectares), situated immediately adjacent to the south, west and north of Snowline Gold Corp.'s ("Snowline") Valley Deposit. The southern boundary of the GS1 Project lies less than 500 metres so...

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