VANCOUVER, BC — February 18, 2026 — Leads & Copy —
P2 Gold Inc. has announced results from the first eight reverse circulation (RC) drill holes at the Lucky Strike Zone, part of the Infill and Expansion Drill Program at its Gabbs Project in Nevada. The company’s announcement includes drill results from holes GBR-074 to GBR-081.
Five of the initial eight holes at Lucky Strike ended in footwall mineralization. The Infill and Expansion Drill Program plans a total of 11,500 meters in 70 RC holes for the Lucky Strike Zone. After completing drilling at Lucky Strike, the RC drill is slated to return to the Sullivan Zone for further drilling to extend the zone down dip. Results to date confirm the Mineral Resource model for the Lucky Strike Zone.
Drill highlights include:
Hole GBR-079 intersected 0.47 g/t gold and 0.23% copper over 60.96 meters from 39.62 meters downhole, including 13.72 meters grading 0.89 g/t gold and 0.39% copper starting 47.24 meters downhole. It also intersected 0.13 g/t gold and 0.19% copper over 35.05 meters starting 100.58 meters downhole, ending in mineralization.
Hole GBR-080 intersected 0.51 g/t gold and 0.30% copper over 54.86 meters starting 27.43 meters downhole, including 15.24 meters grading 0.76 g/t gold and 0.36% copper starting 28.96 meters downhole. It also intersected 0.18 g/t gold and 0.11% copper over 54.86 meters starting 82.30 meters downhole, ending in mineralization.
Hole GBR-081 intersected 0.53 g/t gold and 0.26% copper over 67.06 meters from 7.62 meters downhole, including 12.19 meters grading 0.84 g/t gold and 0.39% copper starting 35.05 meters downhole. It also intersected 0.42 g/t gold and 0.10% copper over 36.58 meters starting 74.68 meters downhole.
Available drill data indicates ore controls at Lucky Strike are similar to the Sullivan Zone, where mineralization is located within and below a tabular unit of quartz monzonite underlain by pyroxenite. The mineralization is gold dominant, transitioning to copper-gold mineralization in the footwall. At Lucky Strike, the deeper footwall mineralization ranges from 20 to 60 meters thick, and the main mineralized body is up to 75 meters thick, forming a continuous zone up to 125 meters thick. Numerous quartz-filled structures cut across the Lucky Strike zone, which were historically exploited as narrow, high-grade pits and shallow workings. Where these structures intersect the main body of mineralization, they develop 2 to 5 meter halos of higher-grade gold and copper mineralization.
Since the start of the Program in October 2025, 51 RC drill holes have been completed, with 24 at the Sullivan Zone and 27 at the Lucky Strike Zone. The diamond drill has completed 16 metallurgical and slope stability geotechnical holes to date. Assays will continue to be reported over the coming months.
Following the Infill and Expansion Drill Program, an updated Mineral Resource estimate will be prepared for Gabbs, expected in mid-2026. This estimate will form the basis of a feasibility study on placing Gabbs in production, anticipated in the fourth quarter of 2026.
Plan maps and sections for drill holes GBR-074 to 081 are available online.
Ken McNaughton, Chief Exploration Officer for P2 Gold, is the Qualified Person responsible for the Gabbs Project.
P2 Gold is focused on advancing its gold-copper Gabbs Project in Nevada, where work to support a feasibility study is underway. A preliminary economic assessment outlined a long-life mine at Gabbs with annual average production of 109,000 ounces gold and 15,000 tonnes copper over a 14.2-year mine life. The Gabbs Project has infrastructure with access via paved Hwy 361, and power and water on site. Additional metallurgical work is planned, and a water permit is expected in the first quarter of this year. All zones on the property remain open for exploration.
Source: P2 Gold Inc.
