Endurance Gold Corporation (TSXV: EDG) 2025 Crown Zone results validate Royal Shear continuity; Maiden MRE by Q1 2026
Research Team and Ron Wortel, MBA, P.Eng., Senior Mining Analyst
January 5, 2026 PLEASE REVIEW THE DISCLAIMER ON PAGE 10
Investment Highlights
- Endurance Gold Corp. (TSXV: EDG) (the “Company”) is a junior exploration company focused on advancing its 100%-owned Reliance Gold Project, located in south-central British Columbia, Canada.
- Advancing towards a maiden mineral resource estimate by Q126: Endurance Gold continues to advance the Reliance Gold Project toward its inaugural mineral resource estimate following the successful completion of the 2025 drilling campaign. The 6,864-meter program materially strengthened confidence in the continuity, scale, and grade distribution of mineralization, particularly within the Crown Zone along the Royal Shear trend.
- Robust 2025 drill results validate geological model: At Lower Crown, highlights included 14.03 g/t Gold and 1.46% Sb over 5.2 meters (DDH25-122A) and 6.10 g/t Gold and 0.22% Sb over 10.0 meters (DDH25-125), while Upper Crown returned 10.08 g/t Gold over 3.8 meters (including 17.38 g/t Gold over 1.8 meters) in DDH25-123. These results further validate the coherence and continuity of the Royal Shear system that remains open.
- Drilling to date supports both scale and consistency: With the completion of the 2025 program, Endurance Gold has now drilled 127 diamond drill holes along the Royal Shear, delivering 134 high-grade gold intercepts. Across these intersections, the Company reports a weighted average grade of 4.74 g/t Gold over an average drill length of 9.8 meters, exhibiting both economic widths and grades in the current market.
- We reiterate our BUY rating and update our price target to $0.54. With gold prices at record levels, the Company’s upcoming drill program presents a promising opportunity.
Overview
Endurance Gold continues to advance the Reliance Gold Project toward a maiden mineral resource estimate following the successful completion of its 2025 drilling campaign. Drilling during the year materially strengthened confidence in the continuity, scale, and grade distribution of mineralization, particularly through the Crown Zone, where the Company successfully bridged the previously under-drilled gap between Eagle and Imperial zones along the Royal Shear trend. The 6,864-meter drill program delivered multiple strong intercepts at both the Lower and Upper Crown discoveries, confirming strike and vertical continuity.
The 2025 drilling program at the Crown Zone marks a key inflection point, demonstrating the potential for continuous mineralization along the 1.5-kilometre Royal Shear trend. Looking ahead, the Company expects to reach several important milestones in the coming months, most notably the delivery of its inaugural mineral resource estimate and the verification of recently identified surface discoveries that could further strengthen the district-scale gold and antimony exploration potential.
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