What you need to know: • EDG announced its 2026 drill program which will commence on May 1st. • The program will consist of a minimum of 8,000m of diamond drilling, exploratory RC drilling both along the Royal Shear Trend and other drill-ready targets (primarily at the Olympic area), as well as ongoing prospecting and target generation. • On January 19th, EDG announced an inaugural Inferred resource at its Reliance Project of 1.45Moz at 2.30 g/t Au (1.12Moz open pit). This morning, Endurance Gold Corp. (EDG:TSXV) announced its 2026 drill program, which is expected to commence on May 1st. This follows EDG’s March 11th announcement of the closing of its $8.3M private placement (more details on page 2). The program consists of a minimum of 8,000m of diamond drilling split across two drill rigs. This year’s program is intended to expand and upgrade the MRE (1.45Moz at 2.30 g/t Au). We are maintaining our BUY rating and target price of $0.90/share on EDG. The Phase 1 program will focus on improving confidence in near-surface resources by upgrading them from the Inferred to Indicated category, while also expanding the pit-constrained resource and testing for higher-grade mineralization at depth. Phase 2 will target the Eagle Offset Anomaly, located 500m south of the Eagle Zone, which is interpreted as a structural continuation of the Royal Shear Trend. The target area spans 1,300m x 500m and is defined by a strong geochemical soil anomaly with elevated gold, arsenic and antimony. Early indications are promising, with grab samples in poorly exposed bedrock returning up to 8.16 g/t Au from silicified and altered mafic volcanics. This phase will include trial construction, channel sampling, and RC drilling, and will run concurrently with Phase 1 beginning in June. Phase 3 will focus on the Olympic area, ~3km east of the Reliance resource, where several high-grade, drill-ready targets have been identified. Notable results include the Enigma prospect (up to 9.66 g/t Au and 11.9% Sb), the Kelvin showing (grab samples up to 25.1 g/t, 17.35 g/t, and 8.49 g/t Au over multiple veins), and the Whisky Jack anomaly, a 1km2 target area with channel samples returning 8.58 g/t Au over 1.6m. Additional results from the historic Leckie-Macgee prospect include grab samples up to 6.26 g/t Au. This phase is expected to begin in August, pending permits, and may involve a fourth drill rig. Ongoing prospecting and target generation across the broader 5,500ha property will continue through the summer.