Caprock Announces Plans To Commence Drill Program Designed For Pit-Constrained Mineral Resource Expansion At Destiny

(MENAFN- Newsfile Corp) Caprock Announces Plans to Commence Drill Program Designed for Pit-Constrained Mineral Resource Expansion at Destiny

April 22, 2026 7:30 AM EDT | Source: Caprock Mining Corp.

Toronto, Ontario--(Newsfile Corp. - April 22, 2026) - Caprock Mining Corp. (CSE: CAPR) (" Caprock ", or the " Company ") is pleased to announce plans to commence a shallow drill program designed to expand the current open pit-constrained Mineral Resource Estimate (" MRE ", or " Mineral Resource ") westward at its flagship Destiny gold property (" Destiny ", or the " Property ", or the " Project "), located near Val d'Or, Quebec.

Caprock's President & CEO, Mr. Vishal Gupta, stated, "Our recently concluded deep drilling campaign at Destiny provided excellent corroboration of our structural understanding of the mineralized system. Assays have been received for five out of the eight deep holes drilled in total, and so far, we've had a consistently strong success rate, including high-grade assay results from drill hole DES-26-183 which returned 38.48 g/t Au over 1.6m, encompassed within 2.84 g/t Au over 23.2m. We must now take some time to reconcile the results and fine-tune our targeting strategy before building on this initial success with testing the deep-seated, high-grade potential at Destiny."

Mr. Gupta added, "While we wait for assays from the remaining three deep drill holes and take the time to conduct an in-depth analysis of our deep drilling campaign, we plan to focus our efforts on the expansion of the near-surface, open pit-constrained Mineral Resource at Destiny. Our technical team has identified the potential to materially expand the Mineral Resource westward by conducting a limited 10-hole drill program that was designed by our resource consultants at BBA E&C Inc. We plan to commence this resource expansion drill program immediately after receiving our drill permits, which are expected in the next few weeks."

Description of Resource Expansion Drill Program

The planned drill program has been designed to include 10 NQ-sized diamond drill holes totaling approximately 3,200m of drilling. The 10 holes will be drilled from four drill pads in total, and will test the extension of the mineralized domains at Destiny to the west of the current limits of the open-pit constrained Mineral Resource. Illustrations of the planned drill holes relative to previously drilled holes, the package of mineralized domains, and the conceptual open pit that constrains the current Mineral Resource at Destiny, are provided in Figures 1, 2, 3 and 4 below.

Figure 1: North-looking longitudinal section illustrating the location of the area being targeted for resource expansion relative to previously drilled holes at Destiny.

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Figure 2: North-Northeast-looking view illustrating the traces of the drill holes planned for resource expansion (cyan) relative to previously drilled holes (pink) and the outline of the conceptual open pit constraining the current Mineral Resource at Destiny.

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Figure 3: North-Northwest-looking view illustrating the traces of the drill holes planned for resource expansion relative to the location of the conceptual open pit that constrains the current Mineral Resource at Destiny.

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Figure 4: View looking down illustrating the traces of the drill holes planned for resource expansion relative to the package of mineralized domains (red & green) and the conceptual open pit constraining the current Mineral Resource at Destiny.

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Mineral Resource Estimate at Destiny

Destiny hosts an open pit-constrained MRE completed in March 2025 with the following gold inventory:

Classification	Constraints	Cut-Off Grade (Au g/t)	Tonnage	Grade (Au g/t)	Contained Gold Oz
Indicated	OP	0.30	6,752,000	0.91	196,549
Inferred	OP	0.30	28,560,000	0.87	794,886

CIM definition standards were followed for the resource estimate. The 2025 resource model used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized domains defined by wireframed solids. Mineral resources are constrained within pit shells (OP). An exchange rate of 1.35 is utilized in calculations ($CAD/$USD). Open pit cut-off of 0.30 g/t Au milled is based on the cost/tonne ($CAD/t) milled for incremental mining, processing, and G&A based on the following: Long term metal prices of US$2,100/oz of gold; Metallurgical recoveries are based on metallurgical testing recovery of 94%; Average Bulk density (specific gravity) was determined for each lithology and/or mineralized domain within the deposit; Total ore-based cost of CAD$22.50/t; Processing costs of CAD$18.00/t and G&A costs of CAD$4.50/t milled; Dilution of 10%; and Pit Slope angle of 45 degrees. Mineral Resources that are not mineral reserves do not have economic viability. Numbers may not add due to rounding.

The resource estimate was prepared by Todd McCracken, P.Geo, of BBA E&C Inc. in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ").

About Caprock Mining Corp.

Caprock Mining Corp. is a Canadian mineral exploration company focused on exploring precious metals in Quebec and Ontario.

The Company has an option to earn a 100% interest in the Destiny gold property that comprises 127 mineral claims and encompasses an area of 5,013 hectares located less than two hours' drive from Val d'Or, Quebec. Destiny lies along a major deformation corridor in the Abitibi greenstone belt that includes the prolific Cadillac-Larder Lake, Destor-Porcupine and Casa Berardi fault zones which host numerous producing and development-stage gold deposits. The Project overlies a 6.0 km long segment of the poorly explored Despinassy shear zone which is a splay off the regional Chicobi Fault. Destiny hosts a significant, open pit-constrained, NI 43-101 compliant mineral resource estimate published in March 2025.

Additionally, the Company holds a 100% interest in three gold exploration properties in the historical Beardmore-Geraldton Gold Belt of Ontario - a belt that has produced over four million ounces of gold historically (Reference: Beardmore-Geraldton Gold Camp - Tashota Resources ), and contains the sizeable Greenstone gold project (formerly known as the Hardrock gold project) which is being brought to production by Equinox Gold (Reference: Greenstone Gold Mines - Mining & Processing ).

Qualified Person

The scientific and technical information disclosed in this release has been reviewed and approved by Ms. Suzie Tremblay, who is a practising member of the Ordre Des Geologues du Quebec (OGQ #10664) and considered a 'Qualified Person' as defined under NI 43-101. All geoscience-related activities for Destiny are being conducted under the supervision of Ms. Suzie Tremblay, Vice President at Explo-Logik.

Forward-Looking Statements

All statements in this press release about anticipated future events or results constitute forward-looking statements including, but not limited to, statements with respect to: the Company's plans and expectations for the Property, the Company's plan to commence a 10-hole drill program designed to expand the current open pit-constrained Mineral Resource Estimate westward at the Destiny gold property, the expected timing of receipt of drill permits and commencement of the resource expansion drill program, the potential to materially expand the Mineral Resource westward, the potential for underground mineable resources at the Property, the timing of exploration on the Property, the timing of the completion of the expansion of the MRE, the potential for additional gold mineralization on the Property and the timing of the announcement of the Company's exploration plan for the Property. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate," "expect," "intend," and statements that an event or result "may," "will," "should," "could," or "might" occur or be achieved and other similar expressions. Although Caprock believes that the expectations reflected in such forward-looking statements and information are reasonable, undue reliance should not be placed on forward-looking statements since Caprock can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Caprock's periodic filings with Canadian securities regulators. Material factors and assumptions used to develop these forward-looking statements, particularly those related to resource estimates and metallurgical recoveries, include, but are not limited to, those assumptions referenced in this press release. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Caprock's expectations include risks associated with the business of Caprock; risks related to reliance on technical information provided by Caprock; risks related to exploration and potential development of the Company's mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the risk that drill permits are not received in the expected timeframe or at all; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Caprock's filings with Canadian securities regulators on SEDAR+ in Canada (available at ). The potential for expansion of the Mineral Resource is conceptual in nature and there is no certainty that further exploration will result in the delineation of additional mineral resources. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Caprock does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

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