VANCOUVER, BC, April 30, 2026 /CNW/ - Getchell Gold Corp. (CSE: GTCH) (OTCQB: GGLDF) ("Getchell" or the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for the Fondaway Canyon gold project in Churchill County, Nevada. The MRE conceptualizes potential open pit and underground mining.
Mineral Resource Estimate Key Highlights
- 21% Mineral Resource Estimate growth resulting from the addition of only 10 drill holes (3,400m);
- 54% increase in Indicated Mineral Resource to 22.1 million tonnes at an average grade of 1.40 g/t Au for 999 Koz of gold;
- 8% increase in Inferred Mineral Resource to 45.6 million tonnes at an average grade of 1.25 g/t Au for an additional 1,812 Koz of gold;
- MRE Open Pit model expanded by 50-65m on strike and dip;
- Gold mineralization remains open for further expansion; and
- An updated Preliminary Economic Assessment has been initiated.
"A 21% Mineral Resource Estimate growth at the Fondaway Canyon gold project from 3,400 meters of drilling attests to the success of last year's program. No less significant is the continued increase in the Inferred Mineral Resource alongside the dramatic 54% increase to the Indicated Resource. The capacity of the Mineral Resource to increase across the resource classifications demonstrates the robustness of the deposit and the inherent ability for further growth." states Mike Sieb, President, Getchell Gold Corp. "I am excited for the forthcoming PEA to highlight the economic potential at Fondaway Canyon."
The Mineral Resource Estimate results are as follows:
Table 1: Fondaway Canyon 2026 vs. 2024 Global Mineral Resources Estimate
Table 2: Fondaway Canyon Mineral Resource Estimate by Zone
Figure 1: Fondaway Canyon Project MRE gold grade block and open pit model in plan and longitudinal view
The 2026 MRE represents a significant expansion to the 2024 Mineral Resource Estimate primarily due to:
- The addition of ten (10) holes drilled in 2025 in the Central Area, FCG22-29 through FCG22-36, that intersected significant gold intervals and extended the mineralization. Gold interval highlights from the 2025 drill program are presented in the tables below:
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- Table 3: Colorado SW area (Figures 2 to 4, 8 and 9)
- Table 4: Mid-Central area (Figures 5 to 9)
- Table 3: Colorado SW area (Figures 2 to 4, 8 and 9)
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2. An increase in the price of gold per ounce to USD 3,000 from USD 1,950 utilized in the 2024 Mineral Resource model, reflecting the substantial increase in the price of gold occurring over the intervening period.
The 2025 drill program demonstrated continuity on-strike and on-dip expansion potential of the gold mineralization (Figures 2 and 5) and by extension, the mineral resource estimate.
Oxide Cap
In addition, this iteration of the mineral resource estimate modelled the near surface oxide cap to the resource (Table 5). The oxide mineral resource estimate is a subset of, is included in, and represents less than 10% of the Global Mineral Resource Estimate. As expected, there was nominal change from the 2024 Oxide Mineral Resource Estimate.
Table 5: Mineral Resource Estimate – Oxide Cap
Preliminary Economic Assessment
The Company has engaged Forte Dynamics, Inc., of Fort Collins, Colorado ("Forte Dynamics"), a part of SLR Consulting Limited, to prepare a preliminary economic assessment ("PEA") on the Fondaway Canyon gold project with completion scheduled for mid-year.
The full documentation for the 2026 Mineral Resource Estimate will be reported within the forthcoming PEA.
Michael Dufresne, P.Geol., P.Geo., is independent and the Qualified Person (as defined in NI 43-101) who reviewed and approved the content and scientific and technical information in the news release.
Figure 2: Colorado SW section showing 2025 drill hole gold Intervals relative to previous drilling and 2024 MRE pit outline
Figure 3: 2026 MRE 3D gold grade block model - Colorado SW section showing 2025 drill holes
Figure 4: 2026 MRE Resource Classification block model - Colorado SW section showing 2025 drill holes
Figure 5: Mid-Central section showing 2025 drill hole gold Intervals relative to previous drilling and 2024 MRE pit outline
Figure 6: 2026 MRE 3D gold grade block model – Mid-Central section showing 2025 drill holes
Figure 7: 2026 MRE Resource Classification block model – Mid-Central section showing 2025 drill holes
Figure 8: 2026 MRE 3D gold grade block model – Central Zone longitudinal section showing 2025 drill holes
Figure 9: 2026 MRE 3D Resource Classification block model – Central Zone longitudinal section showing 2025 drill holes
Notes on the 2026 Mineral Resource Estimate:
- The MRE was completed by Kevin Hon, B.Sc., P.Geo., Senior Resource Geologist with APEX. Mr. Hon is an independent Qualified Persons, as defined by NI 43-101, and are responsible for the completion of the Mineral Resource Estimate, with an effective date of April 13, 2026. Michael Dufresne, M.Sc., P.Geo., President & CEO of APEX, completed a peer review of the estimate.
- Mineral Resources, which are not Mineral Reserves, do not demonstrate economic viability. There has been insufficient exploration to define the Inferred Resources tabulated above as an Indicated or Measured Mineral Resource, however, it is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. There is no guarantee that any part of the Mineral Resources discussed herein will be converted into a Mineral Reserve in the future. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. The Mineral Resources herein were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum standards on mineral resources and reserves, definitions, and guidelines prepared by the CIM standing committee on reserve definitions and adopted by the CIM council (CIM 2014 and 2019).
- The Mineral Resources Estimate is underpinned by data from 546 reverse circulation and diamond drillholes totaling 20,460m of drilling that intersected the mineralized domains.
- The mineral resource is reported at a lower cut-off of 0.3 g/t Au for the conceptual open pit and 1.5 g/t Au for the conceptual underground extraction scenario. The lower cut-off grades and potential mining scenarios were calculated using the following parameters: mining cost = US$2.75/t (open pit); G&A = US$2.00/t; processing cost = US$17.00/t; recoveries = 84%, gold price = US$3,000/oz; royalties = 1%; and minimum mining widths = 1.5 meters (underground) in order to meet the requirement that the reported Mineral Resources show "reasonable prospects for eventual economic extraction".
- Original Au assays were composited to 1.5 m with 13,471 composites generated overall in the mineralized domains including 11,548 composites generated for the Central Zone, 1,267 for the Mid-Realm / South Mouth Zone, and 654 for the Silica Ridge / Hamburger Hill Zone.
- Grade interpolation was performed by ordinary kriging (OK) using 1.5 meters composites (block size of 3m x 3m x 3m).
- A density of 2.74 g/cm3 was used for both mineralized and unmineralized zones.
- The mineral resources estimate is categorized as indicated or inferred and classified based on data density, data quality, confidence in the geological interpretation and confidence in the robustness of the grade interpolation. The indicated category was defined by a search ellipse extending 75m along the major axis, 35m along the minor axis, and 10m vertical. In addition, a minimum of 3 drill holes were required, reporting 9 samples with a maximum of 3 samples per drill hole. The inferred category was defined using a search of up to 120 m and requiring at least 1 sample per drillhole from a minimum of 2 drillholes.
- High-grade capping supported by statistical analysis was completed on composite data for each zone and was established at 35 g/t Au for the Central Zone, no Au capping for the Mid Realm - South Mouth Zone, and 10.2 g/t Au for the Silica Ridge – Hamburger Hill Zone.
- The number of metric tonnes and gold ounces were rounded to the nearest thousand, and any discrepancies in the totals are due to rounding effects. Metal content is presented in troy ounces (tonnes x grade (g/t) / 31.10348).
- The author is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues or any other relevant issue that could materially affect the mineral resource estimate.
- The effective date of the Mineral Resources Estimate is April 13, 2026, and the effective date for the drill-hole database used to produce this Mineral Resource Estimate is February 10, 2026.
Notes on the 2024 Mineral Resource Estimate:
- The 2024 Mineral Resource Estimate ("2024 MRE") is included within the technical report titled The Preliminary Economic Assessment of the Getchell Gold Corp. Fondaway Canyon Project, Nevada, USA, ("PEA") with an effective date of January 15, 2025. The PEA was announced on January 23, 2025, and filed on February 7, 2025, and is available on SEDAR+.
- The PEA was prepared by Forte Dynamics Inc., of Fort Collins, Colorado ("Forte Dynamics") as the lead consultant in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Forte Dynamics was the lead study manager for mine planning, design parameters, and operating and capital cost estimates. The PEA was supported by Forte Analytical Inc. (metallurgical studies, process design, process facilities, and plant site infrastructure) and APEX Geoscience Ltd. (mineral resource estimate).
- The 2024 MRE is reported at a lower cut-off of 0.3 g/t Au for the conceptual open pit and 1.75 g/t Au for the conceptual underground extraction scenario. The lower cut-off grades and potential mining scenarios were calculated using the following parameters: mining cost = US$2.70/t (open pit); G&A = US$2.00/t; processing cost = US$15.00/t; recoveries = 92%, gold price = US$1,950.00/oz; royalties = 1%; and minimum mining widths = 1.5 metres (underground) in order to meet the requirement that the reported Mineral Resources show "reasonable prospects for eventual economic extraction".
- Refer to the news releases dated September 10, 2024, and the PEA for full details on the 2024 MRE.
About Getchell Gold Corp.
The Company is a Nevada focused gold exploration company trading on the CSE: GTCH, OTCQB: GGLDF, and FWB: GGA1. Getchell Gold Corp. is primarily directing its efforts on its most advanced stage asset, Fondaway Canyon, a past gold producer with a large mineral resource estimate and recently published Preliminary Economic Assessment.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Mineral Resource Estimate, its continued growth, the Project's economic potential, and future planned activities and results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: use of proceeds from the financing Although management of Getchell have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
SOURCE Getchell Gold Corp.
For further information, please contact: Karen Mate, Corporate Communications, (416) 230-6454, kmate@capitalmarketsadvisory.ca; Mike Sieb, President, Head Office: 1-647-249-4798, info@getchellgold.com
