G50 Corp. Confirms Significant Gold and Silver Mineralization in Parallel Veins over 1.3KM at its Golconda Project in Arizona

Gallium Consistent Across Nearly All Holes

PHOENIX, June 2, 2026 /PRNewswire/ -- G50 Limited (ASX: G50; OTCQX: GFTYF) announced partial results from its drilling programs at the company's Golconda Project in Arizona, confirm significant high-grade gold and silver mineralization in parallel veins, as well as consistent presence of gallium across nearly all holes drilled.

These partial results (https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03096232-2A1675068&v=undefined) from the company's 2025-2026 core, and 2026 RC (reverse circulation) drilling programs at Golconda were designed to achieve multiple outcomes including follow-up to the shallow high-grade gold and silver discovery made by G50 in 2023 and 2025; an increase in the company's knowledge of the depth extent of known mineralization below 180m; assessing new targets along the Tub Vein and its footwall.

"All three aims have been achieved with the results of the 13 holes returned from the lab and reported today," said Mark Wallace, Managing Director and CEO of G50.

"Drilling was highly successful and definitively met the objectives confirming strike, depth and lateral extensions to the known mineralization at Golconda," Wallace confirmed, adding that drilling also continued to assess the high priority gallium target with all holes reporting significant and consistent shallow intercepts.

Wallace noted that results from the bulk of the core (diamond) drilling and the RC Program have extended the strike, depth, and lateral extent of known mineralization. "Importantly, drilling has confirmed that this is not a single-vein system, highlighting potential for stacked and repeated mineralization across a wide corridor and supporting district-scale tonnage potential," Wallace explained. He added that this confirmation provides a significant opportunity for growth through continued drilling.

Mineralization sits within an approximately three-kilometer-long NW-trending crustal structure hosting district-scale metals systems. Drilling has defined a 1.3km strike length, from surface to 400 m depth on key veins. The structural corridor is 200-600 m wide.

Typical of mesothermal polymetallic vein systems, high-grade shoots are embedded within broader mineralized halos. Representative intercepts include:

• 15.2m @8.24 g/t Au, 59.9 g/t Ag (near surface) GRC40
• 16.8 m @4.34 g/t Au, 68.8g/t Ag GDD09
• 13.4 m @1.63g/t Au, 31 g/t Ag (incl. 1.5 m @13.25 g/t Au) GDD04
• 12.2 m @0.56 g/t Au, 200g/t Ag CRC39

Gallium is consistent across nearly all holes, continuous from surface in many cases, and occurs over very large vertical intervals, Wallace continued. He added that it is pervasive across alteration zones rather than confined to isolated veins. "Gallium associated with sericite and argillic alteration halos represents the primary target for commercialization."

Wallace explained, "Golconda is best viewed as a large-scale polymetallic system with high-grade, gold and silver veins, a broad gallium-bearing alteration halo, and base metals (zinc and lead) providing supporting credits. This is underpinned by a multi-kilometer structural system, multiple vein sets, thick and continuous gallium envelope and strong early metallurgy. It's a gem of a project with the defining characteristics of a large, underexplored polymetallic system with dual economic drivers of conventional gold/silver and strategic gallium within a US jurisdiction," he affirmed.

G50 (https://www.g50corp.com) is an exploration company progressing critical minerals and precious metals projects in Arizona and Nevada. The Golconda Project is located in Northwest Arizona, a well-established mining jurisdiction with a long history of base and precious metals production. In Nevada, the company's White Caps Project is a historical gold mine that was previously drilled by Freeport McMoRan between 1982 to 1984. Exploration has identified gold and antimony mineralization.

SOURCE G50 Corp Limited