Visible Gold Expands Exploration Portfolio With Acquisition of 250 KM² District-Scale Sakami Gold Project

ROUYN-NORANDA, Québec--(BUSINESS WIRE)--May 27, 2026--

Visible Gold Mines Inc. ("Visible Gold" or the "Company") (TSXV: VGD) (FRANKFURT: 3V41 ) is pleased to announce that it has entered into an arm's-length agreement dated May 26, 2026 (the " Agreement ") with Morocco Strategic Minerals Corp. (TSXV: MCC) (the " Vendor ") to acquire a 100% interest in the Sakami property (" Sakami " or the " Property ") located in the James Bay Territory of Québec.

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CEO QUOTE
Jean-Marc Lacoste, President and CEO of Visible Gold stated: "Over the last few months, we have strengthened the Company’s exploration portfolio through the acquisition of a second district-scale gold project located in a rapidly emerging mining camp that includes the Éléonore gold mine and neighbouring deposits adjacent to our property. This acquisition aligns with our strategy of creating long-term shareholder value through the advancement of high-quality gold projects in proven mining districts. Sakami has already been the subject of extensive early-stage exploration, generating a large volume of valuable data that will help guide the design of our upcoming exploration and drilling programs."

SAKAMI DESCRIPTION
The Property comprises 475 claims covering ~250 km² and is strategically located along the contact between the Opinaca and La Grande subprovinces, one of the most significant geological structures in the James Bay region and host to numerous gold deposits. These include the Éléonore gold mine, which hosts proven and probable reserves of 10.1 Mt grading 5.05 g/t Au for approximately 1.6 million ounces of gold 1, as well as Lux Metals’ La Grande deposit located directly north of the Property and Fury Gold’s La Pointe deposit situated directly to the south. Other significant gold deposits near the Opinaca - La Grande subprovinces include the Eau Claire, Cheechoo and Corvet deposits, reinforcing the interpretation of a district-scale gold camp.

More than $5 million has been invested by previous owners in exploration work at Sakami, including magnetic, TDEM and IP geophysical surveys, as well as multiple field campaigns involving prospecting, geological mapping, overburden stripping and trenching, and channel sampling. Exploration work also included limited diamond drilling programs.

Exploration work completed to date on Sakami has confirmed the presence of widespread hydrothermal alteration, significant structural deformation features, including shear zones, folding and mylonites, as well as sulfide mineralization consisting primarily of pyrite, pyrrhotite, chalcopyrite and sphalerite, all of which are key indicators of robust mineralizing systems. These features are spatially associated with magnetic and IP geophysical anomalies, suggesting that the mineralization may form part of a broader and potentially continuous mineralized system.

Surface sampling has returned locally significant gold values, including assays of up to 3.09 g/t Au from outcrop samples and multiple anomalous results ranging from 0.5 g/t Au to 1.8 g/t Au. Channel sampling at the GoldenEye prospect returned approximately 1.02 g/t Au over 4.1 metres, indicating continuity over potentially mineable widths. Grab samples at the Lamarche showing returned anomalous gold values of up to 13,000 ppb Au, accompanied by elevated zinc, lead and copper values, highlighting the polymetallic nature of the system and the potential for by-product credits. In addition, grab samples of the Transtaiga showing assayed up to 2,630 ppb Au. (Source GM 72361)

The presence of multiple mineralized zones, including Lamarche, GoldenEye and Transtaiga, highlights the district-scale potential of Sakami rather than that of a single isolated occurrence. Importantly, the Property remains largely underexplored, with only limited trenching, surface sampling and drilling completed to date, leaving significant discovery upside through systematic geophysical surveys and targeted diamond drilling programs.

A review of regional drilling activity also reveals a notable gap in drill coverage on Sakami compared to the more advanced La Grande and La Pointe projects located along strike to the northeast and southwest, respectively. This lack of historical drilling further underscores the Property’s exploration potential.

ACQUISITION TERMS
As consideration for the acquisition of a 100% interest in the Property, Visible Gold will issue the Vendor 4,000,000 common shares of the Company upon closing and grant the Vendor a 1% NSR royalty, which may be repurchased by the Company for $1 million. The common shares will be subject to a voluntary three-year resale restriction, with 400,000 common shares to be released four months following closing and 1.2 million common shares to be released on each of the first, second and third anniversaries of the closing date (the “ Voluntary Resale Restriction ”).

The Agreement is subject to regulatory approval, including that of the TSX Venture Exchange. The common shares to be issued pursuant to the Agreement are, in addition to the Voluntary Resale Restriction, subject to a regulatory resale restriction period of four months and one day.

Qualified Person Statement

All scientific and technical information of this press release has been reviewed and approved by Louis Martin, P.Geo. (OGQ), a consultant to the Company and a Qualified Person for the purposes of National Instrument 43‑101 – Standards of Disclosure for Mineral Projects (“ NI 43-101 ”). Mr. Martin has reviewed and verified the historical assay results and noted no errors or omissions during the data verification process. The Company and Mr. Martin do not recognize any factors of sampling or recovery that could materially affect the accuracy or reliability of the historical assay data and exploration results disclosed in this news release.

Grab samples are selective by nature and may not be representative of the overall mineralization on the Sakami Project. While they are useful for identifying areas of interest and guiding further exploration, they should not be relied upon as an indicator of the average grade or extent of mineralization.

This press release may also reference historical mineral resource estimates on nearby properties. These estimates are considered relevant as they provide an indication of the exploration potential of the property; however, they were prepared by previous operators and have not been verified by the Company’s Qualified Person. The historical estimates may not have been prepared in accordance with current standards as defined by NI 43-101 and should not be relied upon.

The Company cautions that mineralization observed on adjacent or nearby properties is not necessarily indicative of similar mineralization on its own properties. While such occurrences may provide regional geological context, they do not imply continuity of mineralization, similar grades, or the presence of economically recoverable resources on the Company’s claims. Exploration results and geological interpretations on neighbouring properties have not been verified by the Company and should not be relied upon as an indication of the potential of the Company’s projects.

Cautionary Note regarding Proven and Probable Reserves on the Éléonore Mine

Readers are cautioned that technical information relating to the proven and probable reserves on the Éléonore mine (the “ Éléonore Information ”) has been obtained from a press release of Newmont Corporation dated February 20, 2025 (the “ Newmont Press Release ”) and such Éléonore Information has not been verified by the Company’s Qualified Person but is believed to be reasonably reliable. While the Company has determined that such Éléonore Information is relevant to the Property given that the Property and Éléonore mine are both located along the contact between the Opinaca and La Grande subprovinces in the same mining district. Readers are also cautioned to not place undue reliance on the Éléonore Information as it is not necessary indicative of the mineralization that may be encountered on the Property and the information relating to the Éléonore mine does not mean or imply that economic deposits exist on the Property.

Adoption of Semi-Annual Financial Reporting

The Company also announces the adoption of semi-annual financial reporting (“ SAR ”). This news release is being issued and filed pursuant to Coordinated Blanket Order 51-933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (“ CBO 51-933 ”).

CBO 51-933 allows eligible venture issuers to voluntarily move from a quarterly to a semi-annual financial reporting framework. By adopting SAR, the Company aims to reduce the administrative and financial burden of quarterly reporting. As a result of adopting SAR, the Company will not file interim financial statements and related Management’s Discussion and Analysis (“ MD&A ”) for the three-month period ended October 31 and the nine-month period ended April 30 of each applicable fiscal year. Accordingly, the initial interim period for which the Company does not intend to file an interim financial report and related MD&A will be for the nine-month period ended April 30, 2026. The Company will continue to file audited annual financial statements (due within 120 days of July 31) and six-month interim financial reports (due within 60 days of January 31), and related MD&A’s. The Company remains committed to timely and transparent disclosure and will continue to report all material changes and significant developments as required under National Instrument 51-102 – Continuous Disclosure Obligations.

About Visible Gold Mines Inc.

Visible Gold Mines (TSXV: VGD) (FRANKFURT: 3V41) is a mining exploration company focused on acquiring, exploring and developing gold projects in the prolific Abitibi Gold Belt and the James Bay region in the province of Québec.

Forward-Looking Statements

This news release contains statements that may constitute “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of Visible Gold Mines, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including, if the transaction described in this news release (the “ Transaction ”) will occur, or if does when the closing date will occur, if regulatory approval will be obtained for each of the Company and the Vendor, and if any benefit for the Company's shareholders will occur or what will be the actual benefits the Company will derive from the Property and the Transaction. Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Visible Gold Mines’ control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Financial Risks” and “Risk Factors” in Visible Gold Mines’ Annual Report for the fiscal year ended July 31, 2025, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. Visible Gold Mines does not intend, nor does Visible Gold Mines undertake any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

Figure 1: Sakami Property located south of Lux Metals' La Grande deposit and north of Fury Gold's La Pointe deposit.

BEIRUT (AP) — Israel’s government ordered strikes on the southern suburbs of Beirut on Monday, a day after its ground forces reached their deepest point in Lebanon in 26 years and as Hezbollah fired rockets at northern Israel, including the outskirts of the coastal city of Haifa.

A joint statement by Israeli Prime Minister Benjamin Netanyahu and Defense Minister Israel Katz said the orders to attack targets in Beirut’s southern suburbs followed what they called repeated violations of the ceasefire by Hezbollah and “attacks against our cities and citizens.”

The Israeli military's Arabic spokesman later posted on X that residents should leave the suburbs, adding that if Hezbollah continues attacking Israeli communities, Israel will launch attacks on the area known in Arabic as Dahiyeh, where Hezbollah enjoys wide support.

Hezbollah agreed to halt attacks on Israel when the ceasefire was signed in mid-April, but the militant group resumed the assaults after Israeli strikes in Lebanon that Israel characterized as self-defense. The fighting also presents a major obstacle in the emerging deal to extend the ceasefire in the Iran war. Tehran wants any agreement to include Lebanon.

After Monday's warning, large numbers of people were seen fleeing Dahiyeh, jamming roads leading out of the suburb.

Mohammed Farhat, 23, fled with his brother and parents from Beirut’s southern suburb of Haret Hreik and was heading with his mother on a motorcycle to stay with relatives in another neighborhood.

“We are worried. I am used to it but left for my parents,” the university student said.

Israeli airstrikes overnight on southern Lebanon left six people dead, including a Syrian citizen in a village near the city of Nabatiyeh, the state-run National News Agency said. Israel struck other towns and villages near the major city, close to the strategic Beaufort Castle and other towns the Israeli military captured in recent days.

An airstrike Monday afternoon in the port city of Tyre caused heavy damage to the Jabal Amel Hospital, the Health Ministry said. A video released by the ministry showed shaken women and children inside the hospital, where windows were blown out.

The Israeli military, meanwhile, said its air force had intercepted two projectiles launched from Lebanon toward Israeli territory, as well as a suspicious aerial target in the area where Israeli soldiers operate in southern Lebanon. No injuries were reported, the military said.

Hezbollah said it carried out rocket and missile attacks on northern Israel on Sunday. It said early Monday it attacked Israeli troops in Zawtar al-Sharqieh, just north of the Litani River, and struck what they said was Israeli military infrastructure in Tiberius, a few dozen miles south of the border.

The latest attacks came despite a nominal ceasefire that has been in place since April 17 and just before Lebanon and Israel hold their next round of direct talks in Washington starting Tuesday. Hezbollah has rejected direct talks, counting on pressure from Iran, which has demanded an end to the war in Lebanon in its talks with Washington.

The talks between officials from Israel and Lebanon, which began in April in Washington, were the first in more than three decades between the countries, which have no formal diplomatic relations.

Lebanese officials have been scrambling in diplomatic calls, including with Washington, in a desperate bid to push back Israel’s military escalation after Netanyahu’s announcement, a Lebanese diplomatic official said. Beirut is still committed to holding talks to end the conflict despite the boiling tensions, said the official, who spoke to The Associated Press on condition of anonymity in line with regulations.

Iranian Foreign Minister Abbas Araghchi asserted Monday that any ceasefire agreement between Washington and Tehran is a “ceasefire on all fronts, including Lebanon."

“Its violation on one front is a violation of the ceasefire on all fronts," Iran's top diplomat said in a post on X.

Beirut, the Lebanese capital, has been mostly spared from airstrikes since the ceasefire went into effect, apart from two targeted attacks on the city's southern suburbs in May.

The German development minister, Reem Alabali Radovan, had planned to visit Beirut on Monday to meet with Lebanese President Joseph Aoun and other officials, but she called off the visit while traveling to the city, citing the possibility of Israeli strikes in the suburbs.

Saudi Arabia condemned Israel’s attacks on Lebanon, saying it “categorically rejects” Israel’s movement into the small Mediterranean nation. The Saudi Foreign Ministry called on the international community to prevent Israel from going deeper into Lebanon.

A U.S. official said late Sunday that Secretary of State Marco Rubio had spoken to Aoun and Netanyahu to propose a fresh path to continue ongoing negotiations, as President Donald Trump weighs a tentative ceasefire extension with Iran.

Under the proposal, Hezbollah would halt all attacks on Israel, and Israel would refrain from escalating military operations in Beirut, according to the official who spoke on condition of anonymity to discuss private diplomatic conversations.

The official said Aoun was open to the idea but that Lebanese parliament chief Nabih Berri had responded by demanding that Israel first stop all military action.

The official said the Trump administration does not expect Israel to give up retaliating for Hezbollah strikes on its territory.

Berri, a key Hezbollah ally, said in a statement Sunday that he can guarantee the militant group’s “full, comprehensive and immediate commitment to a ceasefire.” Berri added: “But who will force Israel to stop its aggression?”

Aoun on Monday said in comments released by his office that Lebanon faces "a fierce and condemned Israeli aggression.” Aoun added that his government continues work to end “the suffering of the Lebanese in general and the southerners in particular.”

Later, the president issued a statement reiterating Beirut's commitment to negotiations, saying it is “safer” than war."

“It will not solve the problem within moments, but it is a process that needs time," he said. “And we have no other choice.”

Elsewhere, the United Nations Security Council scheduled an emergency meeting on Lebanon for Monday afternoon.

The latest round of fighting between Israel and Hezbollah has killed 3,433 people in Lebanon and displaced more than 1 million people.

Israel’s military said a soldier was killed in southern Lebanon overnight in a drone attack by Hezbollah. Hezbollah’s use of hard-to-detect fiber-optic drones has been deadly for the Israeli military, which is struggling to respond.

According to Netanyahu’s office, at least 26 Israeli soldiers and a defense contractor have been killed in or near southern Lebanon. Two civilians have also been killed in northern Israel.

Melzer reported from Tel Aviv, Israel. Associated Press writers Matthew Lee in Washington and Geir Moulson in Berlin contributed to this report.

A person walks past the site struck by a rocket fired from Lebanon on Saturday in Kiryat Shmona, northern Israel, Sunday, May 31, 2026. (AP Photo/Ariel Schalit)

Cars sit in traffic on a highway as residents flee following an Israeli threat to strike Dahiyeh, Beirut's southern suburbs, Lebanon, Monday, June 1, 2026. (AP Photo/Bilal Hussein)

Cars sit in traffic on a highway as residents flee following an Israeli threat to strike Dahiyeh, Beirut's southern suburbs, Lebanon, Monday, June 1, 2026. (AP Photo/Bilal Hussein)

Cars sit in traffic on a highway as residents flee following an Israeli threat to strike Dahiyeh, Beirut's southern suburbs, Lebanon, Monday, June 1, 2026. (AP Photo/Bilal Hussein)

A family flees following an Israeli threat to strike Dahiyeh, Beirut's southern suburbs, Lebanon, Monday, June 1, 2026. (AP Photo/Bilal Hussein)

A view of he Beaufort Castle in southern Lebanon as seen from northern Israel, Sunday, May 31, 2026. (AP Photo/Ariel Schalit)