49 Metals Limited has completed its maiden reverse circulation drilling program at the Gold Mountain project in Nevada, returning a continuous gold intersection of 170.7 metres at 0.9 g/t gold from 121.9 metres in hole DRC#22.

The program comprised 22 holes for approximately 7,500 metres across the project area within the Walker Lane trend. All completed holes returned gold or silver mineralisation, establishing a geological framework that indicates a broad mineralised system enclosing multiple higher-grade structures.

Hole DRC#19 targeted extensions to the high-grade feeder corridor and intersected 67.1 metres at 1.7 g/t gold from 169.2 metres, including a 3-metre interval grading 20.0 g/t gold from 189.0 metres. Additional shallow mineralisation was confirmed in hole DRC#21, which returned 13.7 metres at 2.9 g/t gold from 12.2 metres, and hole DRC#18, which yielded 29.0 metres at 1.3 g/t gold from 18.3 metres. All reported intercepts represent downhole lengths, with true widths yet to be determined.

“These results are an outstanding way to complete our maiden drilling program at Gold Mountain and, importantly, they have materially advanced our understanding of the Adit Zone. Hole DRC#22 has delivered 170 metres of continuous gold mineralisation, the thickest interval we've seen anywhere on the project, while DRC#19 has returned another broad zone of mineralisation containing a high- grade core of up to 20 grams per tonne gold.”

— Phil Carter, Chief Executive Officer

The company commenced trading on the Australian Securities Exchange on 31 March 2026 following a $10 million initial public offering to advance its Nevada gold portfolio. In May 2026, 49 Metals added eight patented mining claims to Gold Mountain for nil additional consideration to enhance operational access and flexibility.

The Gold Mountain system remains open in all directions. Elsewhere in the surrounding Nevada district, Scorpio Gold intersected 3.38 g/t gold over 33.31 metres in step-out drilling at the Manhattan project in August 2026. Following the completion of the maiden drilling campaign, 49 Metals plans to advance into the next phase of exploration and drilling at the project.

Read the full announcement: 171m @ 0.9g/t Gold Confirms Scale at Gold Mountain