As global investors continue to look for hard assets that can preserve value through inflationary cycles, geopolitical uncertainty, and currency volatility, gold remains a cornerstone of the long‑term investment thesis.

Few jurisdictions are as closely tied to gold’s modern supply as Nevada, a region that consistently ranks among the world’s top gold‑producing districts and is home to some of the most productive mining trends on the planet.

From Carlin‑style systems to large, carbonate‑hosted deposits, Nevada’s geology has demonstrated an unparalleled ability to generate scale, longevity, and repeat discovery success. With this in mind, exploration projects positioned along proven structural and stratigraphic corridors are attracting renewed attention, particularly where emerging drill results suggest that known mineralizing systems may extend well beyond their original footprints.

For investors following Nevada’s most productive gold corridors, junior miner North Peak Resources (TSXV:NPR) is positioning itself at a pivotal moment. With fresh drill results in hand, a strengthened balance sheet, and upcoming exploration plans targeting a highly sought‑after geological contact, the company is advancing its 100 per cent‑owned Prospect Mountain Project in the heart of the historic Eureka mining camp.

Crucially, Prospect Mountain sits between two active operators —  i-80 Gold Corp.  (TSX:IAU) and McEwen Inc. (TSX:MUX) — along structural and stratigraphic trends that have already produced multimillion‑ounce deposits. North Peak’s technical team believes these same mineralizing systems continue onto its land package, and results released in February 2026 are now reinforcing that thesis.

Stable location on a proven trend

Prospect Mountain lies on the eastern side of the Battle Mountain–Eureka Trend, one of Nevada’s most prolific gold belts. To the east, McEwen Mining is actively drilling the Windfall trend, while i‑80 Gold controls ground to the west. The geology tying these projects together hinges on an important stratigraphic horizon — the Hamburg Dolomite–Dunderberg Shale (Ch–Cd) contact — which has repeatedly acted as a conduit and trap for gold‑silver mineralization throughout the district.

The key question for North Peak has been whether this contact, and its associated mineralizing system, continues downdip beneath Prospect Mountain’s cover rocks. The latest drilling suggests that it does.

February 2026 results: Proof of concept at lower PME

In February 2026, North Peak released assay results from the remaining holes of its 2025 reverse‑circulation drill program, targeting two key areas: Dean Cave (Area 3) and Lower PME (Area 4).

The standout results came from Lower PME, where the company successfully intersected the critical Ch–Cd contact beneath overthrust barren rocks — a blind target that had never been systematically explored.

Key drill highlight

Hole PM25‑014RC returned:

• 88.4 metres averaging 0.24 g/t gold and 15.7 g/t silver, starting at 425.2 metres depth
• Mineralization hosted within the Hamburg Dolomite, directly above the Dunderberg Shale contact

This intersection is significant for several reasons:

• It confirms that the Windfall‑style mineralizing system continues onto North Peak’s property
• Mineralization is broad, continuous, and open in all directions
• The result supports historic drilling completed nearby by Homestake/Barrick in 2001

That historic vertical RC hole (HRH1725), located ~320 metres away, intersected multiple high‑grade intervals, including:

• 10.67 m @ 4.05 g/t Au & 16 g/t Ag
• 16.76 m @ 1.61 g/t Au & 92.46 g/t Ag
• 3.05 m @ 1.62 g/t Au & 140.35 g/t Ag

All were logged within the Hamburg Dolomite as the hole approached the same Dunderberg shale contact now being delineated by North Peak.

Area 4 – lower PME: A hidden system emerging

Three holes totalling 1,416 metres were drilled in Area 4, though only PM25‑014RC reached the target Ch–Cd contact. The company emphasizes that this horizon is:

• Regionally associated with major deposits, including Windfall and the Ruby Deeps resource
• Consistently mineralized, enriched in Au, Ag, As, Tl, Zn, and Pb
• Structurally complex and concealed beneath barren cover rocks, making drill targeting challenging

Importantly, mineralization in PM25‑014RC was largely oxidized but only weakly bleached, adding confidence to both grade preservation and potential metallurgy.

North Peak has stated its intention to seek permits for additional drill pads and return to Lower PME later in 2026, aiming to better define the relationship between the new intersection, historic drilling, and nearby holes that were terminated before reaching target depth.

Area 3 – Dean Cave: Valuable vectoring information

At the Dean Cave complex, three holes totaling 1,419 metres were completed, with two additional holes abandoned due to technical issues. The program tested projections from the historic Dean and East Cave systems along fault intersections.

While gold values were only weakly anomalous — with a best interval of 1.01 g/t Au over 5 feet in hole PM25‑012RC — the holes delivered meaningful geological insight:

• Strong alteration and gossans near the historic Orange tunnel
• Long intervals of anomalous zinc associated with alteration halos

Management interprets this as drilling slightly distal to the core of mineralization, information that can be used to refine future targeting.

Near‑term catalysts: Waste rock and metallurgy

Beyond exploration drilling, North Peak continues to advance work on waste pile economics, with metallurgical test results expected in Q2 2026. These results are expected to inform:

• Potential recoveries
• Economic viability
• Possible toll‑processing scenarios

This parallel pathway could provide optionality while larger‑scale exploration continues.

North Peak CEO, Rupert Williams elaborated further on the company’s future drilling strategy in an exclusive interview with the Market Link’s “The Watchlist”, which you can watch in full by clicking the video below.

Fully funded for the next phase

In March 2026, North Peak closed the second and final tranche of its non‑brokered private placement, raising total gross proceeds of C$5.675 million.

• Tranche 2: 1,245,000 units at C$1.00 for C$1.245M
• Tranche 1: C$4.43M (closed earlier in March)

Each unit consists of one common share and one‑half warrant exercisable at C$1.50, with an acceleration clause if shares trade above C$2.00 VWAP for 20 consecutive days.

With a strong treasury, the company is well‑positioned to:

• Advance drilling at Prospect Mountain
• Continue metallurgical and economic evaluations
• Maintain operational momentum in Nevada’s mining‑friendly jurisdiction

Why investors are paying attention

North Peak is advancing a project with:

• Proven regional geology and nearby operating peers
• A confirmed mineralized contact that has produced major deposits elsewhere
• Increasing technical validation through drilling
• Clear exploration upside and upcoming news flow

Reflecting this positioning, North Peak’s shares have risen more than 12 per cent year‑over‑year on the TSX Venture Exchange — a signal that investors are beginning to recognize the significance of what may be developing beneath Prospect Mountain.

As drilling resumes and catalysts approach, North Peak Resources offers investors a compelling reason to deepen their due diligence on a company that is methodically working to unlock value along one of Nevada’s most storied gold trends.

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