Advanced ANT-based modeling indicates mineralization extending to approximately 900 metres depth and over 2 kilometres of strike, remaining open beyond current survey limits; Company plans expanded geophysical coverage and step-out drilling as Montauban continues to advance toward production in 2026

VANCOUVER, BC / ACCESS Newswire / February 3, 2026 / ESGold Corp. (CSE:ESAU)(OTCQB:ESAUF)(FSE:Z7D) ("ESGold" or the "Company") is pleased to announce the completion and delivery of a comprehensive Ambient Noise Tomography (ANT)-based 3 dimensional (3D) geological model (the "Model") for the Montauban Project in Québec, prepared by Geomatic World Inc. in collaboration with CAUR Technologies.

The integrated ANT-based 3D model illustrates mineralized architecture extending to depths of approximately 900 metres, significantly deeper than any historical exploration at Montauban, where most drilling was confined to shallow depths of approximately 50 metres and the deepest holes reached only approximately 250 metres. The Model also outlines approximately 2 kilometres of strike length within the current survey area, with mineralization appearing to widen at depth.

Importantly, the identified mineralized trends remain open and are bounded by the limits of the existing ANT coverage, suggesting potential continuation beyond the current study area. In multiple orientations, the modeled mineralized corridors seem to extend to the edge of the current ANT survey, indicating that the system continues beyond the limits of existing coverage

This Model represents the most advanced and integrated geological interpretation ever completed at Montauban and marks a pivotal milestone in the Company's evolution from a legacy mining site into a project with district-scale exploration potential advancing in parallel with near-term tailings production in 2026.

Additional Information
A separate video showcasing the ANT-based 3D geological model is also available here: ANT-Based 3D Geological Model

Management Commentary

Gordon Robb, Chief Executive Officer of ESGold, commented:

"This is the most important technical milestone in ESGold's history. The integrated 3D model has fundamentally changed how we understand Montauban. What is becoming clear is that mineralization extends well beyond the historically mined areas, to depths and along strike lengths that were never previously explored. The scale indicated by this work is beyond what we had originally envisioned, and it reinforces our conviction that Montauban has the potential to evolve into a much larger mineral system. We are more excited than ever to accelerate our efforts to fully explore what this project can become, while continuing to advance aggressively toward production."

André Gauthier, Director of ESGold and the Company's senior consulting geologist, added:

"The ANT and 3D geological modeling provide a coherent, technically robust framework that simply did not exist before. The identification of deep-seated structural corridors, lithological continuity, and coincident geochemical anomalies in areas that have never been drilled is highly encouraging. From a geological perspective, the size and continuity suggested by this model point to a system with significant upside potential. The priority now is to validate these interpretations through expanded geophysics and targeted drilling. This level of structural continuity at depth is particularly notable given the complexity of Grenville-age terranes and helps explain why this system was not previously recognized."

Key Technical Highlights Based on ANT-Based 3D Geological Model

• Mineralized architecture imaged to depths of approximately 900 metres, which is significantly deeper than any historical exploration completed to date at Montauban

• At least 2 kilometres of strike length identified within the current ANT survey area, with mineralization appearing to widen at depth

• Mineralized trends remain open and are truncated by the limits of the existing ANT coverage, indicating potential continuation beyond the current study area

• Integrated interpretation of ANT seismic velocity data, geological mapping, structural analysis, and geochemistry defines coherent lithological and structural corridors comparable to those hosting historical Montauban mineralization; and

• Dominant NNW- and NE-trending structures interpreted as first-order controls on hydrothermal fluid flow and mineral deposition, consistent with large polymetallic volcanogenic massive sulfide (VHMS) systems globally.

Next Steps: From Model to Drill Bit
Building on the results of this study, ESGold is advancing a systematic exploration plan that includes:

• Expansion of ANT coverage to evaluate the potential district-scale corridor

• Integration of additional geophysical datasets to refine structural targets

• Development of a step-out diamond drilling program designed to test high-priority targets identified by the model: and

• The Company anticipates commencement of drilling in early Spring 2026, subject to permitting, access, and logistics.

These exploration activities are being planned and will advance in parallel with the Company's ongoing tailings project, as Montauban moves toward production in 2026.

A Step Change in Geological Understanding
The Model demonstrates that mineralization at Montauban is not confined to the historically mined zones, but is part of a much larger, vertically extensive, and structurally controlled system. Importantly, the Model highlights areas that have never been drill tested by previous operators, largely due to the limitations of historical exploration methods in the structurally complex Grenville Province.

Only a limited portion of ESGold's land package has been evaluated using ANT to date. Based on the strength and continuity of the features identified within the current survey area, the Company plans to expand ANT coverage to assess the full extent of the interpreted mineralized corridor, with the objective of defining the scale and geometry of the broader system.

Positioned for Discovery While Advancing to Production
ESGold emphasizes that this exploration breakthrough is occurring as the Company continues to advance Montauban toward near-term production in 2026. As existing infrastructure and permitted processing capacity are brought online, any additional mineralization delineated through exploration has the potential to be integrated into future mine plans, subject to further evaluation. This allows exploration success to be pursued in parallel with development, providing leverage to discovery by reducing the time and capital typically required to convert new ounces into potential production, and supporting long-term value creation.

About the ANT Study
The ANT-based 3D geological model was prepared by Geomatic World Inc., under the direction of Santiago Mayor, P.Geo., using seismic velocity data acquired by CAUR Technologies. ANT is a passive seismic method that leverages ambient vibrations to image subsurface density contrasts and structural features to depths of several kilometres. The resulting model is conceptual in nature and intended to guide exploration targeting; it is subject to refinement as additional data become available.

Why This Matters to Investors
This milestone represents a fundamental inflection point for ESGold. The completion of the integrated ANT-based 3D geological model materially expands the scale of opportunity at Montauban, shifting the project from a historically constrained footprint to potentially a much larger, open-ended mineral system with the possibility for significant upside. Importantly, this exploration breakthrough is occurring as ESGold advances toward near-term production, creating a rare scenario where exploration success can be funded internally and rapidly translated into long-term value. For investors, Montauban is no longer a finite redevelopment story, but an expanding platform where cash flow, discovery potential, and disciplined execution converge-positioning ESGold to benefit from both rising precious metals markets and the delineation of a potential new mineral district. The upside at Montauban is likely no longer defined by a single zone or a finite footprint, but by the potential scale of a broader mineral system that is only beginning to be uncovered.

Qualified Person Statement
The scientific and technical information contained in this news release has been reviewed and approved by André Gauthier, P.Geo., a Director of ESGold Corp. and a Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Gauthier has reviewed the data underlying the ANT survey and the resulting 3D geological model and believes the interpretations presented are reasonable and appropriate for exploration targeting purposes. The interpretations and conclusions are conceptual in nature and are intended to guide further exploration; they do not constitute a mineral resource or reserve and are subject to confirmation through additional geophysical work and drilling.

About ESGold Corp.
ESGold Corp. (CSE:ESAU)(OTCQB:ESAUF)(FSE:Z7D) is a fully permitted, fully funded, pre-production mining company advancing a scalable clean mining model across North and South America. The Company's flagship Montauban Gold-Silver Project in Quebec is under construction with production anticipated in 2026. With a dual-track strategy of cash flow today and discovery tomorrow, ESGold is building a platform for clean, sustainable growth and long-term shareholder value.

For more information, please contact ESGold Corp. at +1-888-370-1059 or visit esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.

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For further information please contact ir@esgold.com or 604-885-1348, or to connect directly, please reach out to Gordon Robb, CEO of ESGold Corp. at gordon@esgold.com or 250-217-2321.

On behalf of the Board of Directors
ESGold Corp.
Gordon Robb
CEO & Director
info@esgold.com
+1-888-370-1059

Forward Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding metallurgical recoveries, project economics, construction timelines, and exploration potential. Forward-looking information is based on reasonable assumptions believed to be current but involves known and unknown risks and uncertainties that may cause actual results to differ materially. Historical data referenced herein is not current, has not been independently verified by ESGold, and should not be relied upon for investment decisions. ESGold disclaims any obligation to update or revise forward-looking information except as required by law.

These forward-looking statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: the ANT-based 3D geological model, its results and interpretation of the same, conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption "Risks Factors" in the Company's continuous disclosure documents filed on SEDAR+ at www.sedarplus.com.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.

SOURCE: ESGold Corp