Val-D'Or Mining Corporation (TSXV: VZZ) is excited to announce the initiation of an 8,000-metre diamond drilling program on the Perestroika Prospect. Located in Courville Township, Québec, approximately 40 kilometres northeast of Val-D'Or, this property is under option to Eldorado Gold (Québec) Inc. ("Eldorado"), which may earn a 70% interest in the Murdoch Creek, Claw Lake, Cook Lake, and Perestroika properties as per the terms outlined below.
2026 Diamond Drill Program Outline and Objectives
The 2026 diamond drilling program has a budget of $1.37 million USD and consists of 20 planned holes totaling around 8,000 metres, utilizing two diamond drill rigs. The final number of holes will depend on the depths and results obtained during drilling.
This program represents Phase III of the diamond drilling efforts, designed to follow up on encouraging gold values discovered in the 2024 and 2025 drill programs. For further details on regional geology, program objectives, and highlighted assay intersections from the previous two drill programs, refer to Val-D'Or Mining Corporation's news releases dated December 19, 2024, and September 26, 2025.
Drill Program Objectives
Eldorado operates the project, and results from the current drilling program will be shared as they are received.
Summary of Results from the 2024-2025 Drill Programs
Seven selected diamond drill hole intervals have shown potential economic gold grades and thicknesses, including:
- GPS-09-01: 2.77m @ 26.18 g/t Au (261.65m - 264.42m) Incl. 0.30m @ 217.00 g/t Au
- GPS-09-02: 3.05m @ 20.69 g/t Au (140.40m - 143.45m) Incl. 0.37m @ 121.50 g/t Au
- PE-24-004: 8.60m @ 4.45 g/t Au (154.40m - 163.00m) Incl. 0.50m @ 35.12 g/t Au
- PE-25-012: 16.30m @ 4.01 g/t Au (127.50m - 143.80m) Incl. 0.50m @ 66.30 g/t Au
- PE-25-015: 3.00m @ 7.48 g/t Au (225.50m - 228.50m) Incl. 0.55m @ 37.00 g/t Au
- PE-25-015: 5.55m @ 4.38 g/t Au (261.00m - 266.50m) Incl. 0.55m @ 15.50 g/t Au and 0.80m @ 18.45 g/t Au
- PE-25-019: 4.60m @ 12.35 g/t Au (269.40m - 274.00m)
Note: These intersections are along the drill hole lengths and do not represent true widths. For assays related to GPS-09-01 and GPS-09-02, please see Golden Valley Mines' news release dated August 11, 2010, titled "Significant Gold Mineralization Intersected on the Perestroika Prospect."
Option Agreement Details
The Company, along with Eldorado and Golden Valley Mines & Royalties Inc. ("Golden Valley"), entered into an Assignment Agreement on January 25, 2023. This agreement assigned all rights and obligations under an Option Agreement dated October 8, 2021, from Golden Valley to Val-D'Or. As the Option Agreement assignee, Val-D'Or granted Eldorado an option to acquire an additional 40% interest in the properties, including the Perestroika Property in Québec. Currently, Val-D'Or holds a 70% interest in the Properties, while Eldorado holds a 30% interest.
To maintain and exercise the Option, Eldorado must incur minimum expenditures of $10,500,000 by the fifth anniversary of the conditions precedent under the Option Agreement. Additionally, Eldorado will make an annual payment of $50,000 to Val-D'Or prior to exercising the Option. Upon exercising the Option, a joint venture agreement will be established as per the Option Agreement terms.
Technical Oversight
Mr. Glenn J. Mullan, P.Geo., President and CEO of Val-D'Or Mining, serves as the Qualified Person, as defined in National Instrument 43-101, and has reviewed and approved this news release, ensuring the accuracy of the technical information presented.
About Val-D'Or Mining Corporation
Val-D'Or Mining Corporation is a junior natural resource issuer engaged in acquiring and exploring diverse mineral property assets, primarily located in the Abitibi Greenstone Belt of NE Ontario and NW Québec. The Company actively evaluates new opportunities for staking and acquisitions to complement its ongoing projects. In addition to its main focus in the Abitibi Greenstone Belt, Val-D'Or holds various properties in Northern Québec, covering a range of geological environments and commodities, including Ni-Cu-PGE's.
The Company specializes in identifying and developing new projects, focusing on early-stage exploration across a broad spectrum of mineral commodities from gold and copper-zinc-silver to nickel-copper-PGE and industrial minerals. After creating initial value in its 100%-owned or majority-owned properties, Val-D'Or seeks partners with the expertise and resources to conduct advanced exploration projects.
For further details, please contact:
Glenn J. Mullan
2772 chemin Sullivan
Val-D'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: glenn.mullan@valdormining.com
This news release contains forward-looking statements that are not historical facts and are typically identified by terms such as "expects," "plans," "anticipates," "believes," and similar expressions. While the Company believes these expectations are based on reasonable assumptions, they are not guarantees of future performance, and actual outcomes may differ significantly. The Company is not obliged to update these forward-looking statements unless legally required.