Highlights

• Diamond drilling to continue at Kena following detailed logging observations from the completed 5,180-metre program. 

• Approximately 1,000 additional metres planned, expanding the 2026 program to about 6,180 metres, compared with 4,000 metres originally planned. 

• Drilling will target the South Zone and Kena Copper-Gold Zone, outside the 2021 historical mineral resource estimate footprint, from existing permitted drill pads. 

• Results are expected to contribute to the updated NI 43-101 mineral resource estimate targeted for Q1 2027.  

CALGARY, Alberta – October 1, 2026 – Upside Gold Corp. (“Upside” or the “Company”) (CSE: UG) (FSE: 47I) (OTCQB: UGODF) is pleased to announce that the Company plans to restart diamond drilling at its Kena Gold-Copper Project (“Kena” or the “Project”) in southeastern British Columbia, adding approximately 1,000 metres of drilling to its expanded 2026 exploration program.

The decision to return to drilling follows geological observations made during logging of drill core from the Company’s recently completed 5,180-metre, 19-hole diamond drilling program. Mineralization observed in core from the South Zone and Kena Copper-Gold Zone was considered by the Company’s technical team to warrant additional follow-up drilling.

The additional program will consist of approximately 1,000 metres of diamond drilling, potentially increasing total 2026 drilling at Kena to approximately 6,180 metres, compared with approximately 4,000 metres originally planned.

The new holes will be drilled from existing approved drill pads using modified dip angles and orientations. Detailed core logging suggests that sulphide mineralization and associated hydrothermal alteration may cross-cut the host rock foliation and follow a more sub-vertical orientation. The additional holes are designed to better test the geometry and continuity of these mineralized trends.  

Four drill holes of about 250 metres each are planned across the South Zone and Kena Copper-Gold Zone.  Importantly, both target areas lie outside the footprint of the 2021 historical mineral resource estimate, providing an opportunity to test for gold and copper mineralization beyond the historical resource area.

“After completing 5,180 metres of drilling this year, our technical team identified mineralization trends in the core that we believe warrant additional follow-up,” said Sophy Cesar, CEO and Director of Upside Gold. “With time remaining in our permitted exploration season, we made the decision to put the drill back to work and add approximately another 1,000 metres to the program. We originally planned approximately 4,000 metres for 2026 and now have the opportunity to complete more than 6,000 metres. We want to make the most of the field season and continue advancing Kena wherever the geology gives us a reason to do so.”

Trevor Boyd, P.Geo., Vice President, Exploration of Upside Gold, added, “Detailed logging of the first 5,180 metres has continued to refine our understanding of the geology at Kena and identified areas that warrant further testing. The additional drilling allows us to act on those observations now and gather important geological information from the South Zone and Kena Copper-Gold Zone before the end of the field season.”

The Company emphasizes that visual observations of mineralization in drill core are not a substitute for laboratory assay results and do not provide a reliable indication of grade. Logging and sampling of drill core from the 2026 program remains ongoing, with samples continuing to be submitted for analysis. Assay results will be released as they are received, reviewed and interpreted.

As previously announced, the Company’s Mines Act Permit MX-100000131 has been extended to October 31, 2026, allowing Upside to complete the additional drilling from approved drill setups and access locations before the permit expires.

The results from the additional drilling are expected to be incorporated into the updated mineral resource evaluation being undertaken by Moose Mountain Technical Services, subject to receipt and validation of the required assay and QA/QC data. The updated NI 43-101 mineral resource estimate remains targeted for Q1 2027.

The information in this press release has been reviewed and approved by Dr. Trevor Boyd, P.Geo., Vice President, Exploration of the Company and a Qualified Person for the technical information under NI 43-101 standards.

Upside Gold Corp.

On behalf of Upside Gold Corp.

Sophy Cesar

(403) 650-7718  

CEO and Director

info@upsidegoldcorp.com
www.upsidegoldcorp.com

About Upside Gold Corp.

Upside Gold Corp. is a Canadian gold-copper exploration company that has entered into an option agreement to acquire a 100% interest in the Kena Gold-Copper Project, located in southeastern British Columbia, approximately 7 kilometres southwest of Nelson. The Kena Project consists of 207 mineral claims and 11 crown grants covering 10,578 hectares.

The Corporation is focused on advancing the Kena Gold-Copper Project through systematic exploration and drilling programs.

*The Kena Project hosts a historical gold resource comprising an Indicated Mineral Resource of 32,146,000 tonnes at an average grade of 0.544 g/t Au for 0.561 million ounces of gold, and an Inferred Mineral Resource of 177,507,000 tonnes at an average grade of 0.486 g/t Au for 2.77 million ounces of gold. The historical resource estimate is disclosed in the technical report entitled “NI 43-101 Resource Estimate for the Kena and Daylight Properties” prepared by Sue Bird, P.Eng. of Moose Mountain Technical Services, dated May 3, 2021, and filed on SEDAR on behalf of West Mining Corp.

A Qualified Person, as defined by National Instrument 43-101, has not done sufficient work to classify the historical estimate as current mineral resources, and Upside Gold Corp. is not treating the historical estimate as current mineral resources. The historical estimate is provided for information purposes only and should not be relied upon.  Additional drilling and technical work will be required to verify the historical estimate as a current mineral resource. The historical estimate uses the categories set out in section 1.2 of the NI-43-101. The parameters and assumptions used are outlined in Bird 2021 and are provided as follows:

 1. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines.

2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

3. The Mineral Resource has been confined by a “reasonable prospects of eventual economic extraction” pit using the following assumptions: US $2,000/oz. Au at a currency exchange rate of 0.77 US$ per $CDN; 99.95% payable Au; $4.30/oz Au offsite costs (refining, transport and insurance); a 3% NSR royalty; and uses an 88% metallurgical recovery for gold.

4. Pit slope angles are assumed at 45º.

5. The specific gravity of the deposit has been assigned as 2.8 based on sg measurements in the Kena deposit.

Caution Regarding Forward-Looking Information

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Upside Gold. Forward-looking statements include estimates and statements that describe Upside Gold's future plans, objectives or goals, including words to the effect that Upside Gold or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Upside Gold, Upside Gold provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Upside Gold’s objectives, goals or future plans, statements, details of the exploration results, potential mineralization, Upside Gold’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. 

Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Transaction on the terms as announced or at all, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfil the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Upside Gold public documents filed on SEDAR. Although Upside Gold believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Upside Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

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