Inflection Resources - Drilling Ongoing at Trangie Project in New South Wales, Australia

(TheNewswire)

Vancouver, BritishColumbia - TheNewswire - May 13, 2026: Inflection Resources Ltd. (CSE: AUCU / OTCQB:AUCUF / FSE: 5VJ) (the "Company" or "Inflection") ispleased to provide an update on the ongoing drilling in New SouthWales, Australia under the Exploration Agreement with AngloGoldAshanti Australia Limited (“AngloGold Ashanti”) announced onJune 14,2023 andMarch 25,2025.

Summary Highlights

• Air Core drilling isongoing on the Trangie project as part of the Exploration Agreementwith AngloGold Ashanti as announced on January 19, 2026 

• Thirty-seven drill holes totalling 7,130 m have beencompleted on the Trangie project as part of the current program tofollow-up on porphyry gold-copper mineralisation intercepted in earlier drilling; 

• Assays have not yet been received fromthe laboratory, although internal studies using portable pXRFanalytical methods are highlighting existing areas of knownmineralisation and several previously unknown areas of interest;and, 

• The Company has received notice from AngloGold Ashantithat it will withdraw Duck Creek and Crooked Creek as DesignatedProjects under the Earn-in Agreement. Inflection retains 100%ownership in both projects.  Going forward, AngloGold Ashanti willfocus exploration on two Designated Projects: Trangie and Nyngan. 

Alistair Waddell, Inflection’s President and CEO, states: “We are very pleased with the progressof the ongoing Air Core drilling program at Trangie which representsan important next step in advancing this highly prospective area. Air Core drilling is proving to be a highly effective andcost-efficient method for systematically testing the broader targetarea, improving our geological understanding and identifying new zonesthat may warrant deeper drilling.  The program is progressing welland, while assays remain pending, the preliminary field observationsand pXRF work are encouraging.  We look forward to integrating theseresults with the broader Trangie dataset as we continue to refinetargets within this compelling gold-copper porphyrydistrict.”

Trangie Project - Phase II Drilling Update:

Approximately 83 Air Core drill holes (Figure 1) are inthe process of being drilled on the Trangie project, broadly focusedon areas in the vicinity of hole TRNDH023 which returned 54.37 metresgrading 0.37 g/t gold and the zone around hole TRNDH032 wherehigh-grade gold and elevated copper values were intersected, returning3 metres grading 7.72 g/t gold.

Following the identification of multiple areas ofinterest in the broader Trangie project using mud rotary drilling withdiamond core tails, the decision was made to complete grid drillingover an area of approximately 15 km² on approximately 250 metrecentres with Air Core drilling, with the objective of infilling areaswhere the Company has limited or no data.  

This first-pass Air Core drilling dataset is proving tobe highly effective for mapping discrete zones of alteration andmineralisation across the district with several areas of previouslyunknown mineralisation being identified by hand-held pXRF analysis. Although the Company uses the pXRF only as a tool to quickly vectorthe planning of drill holes, the preliminary results are consideredhighly encouraging while assay results are pending from thelaboratory.

Air Core drilling is a fast and cost-effectivetechnique for collecting lithological and geochemical data from theprospective Ordovician basement sequence, and is providing valuablevectors for deeper drilling.  Air Core drilling uses compressed airinstead of drilling fluids to remove rock cuttings from the drill hole(Figure 2).  The drill bit fractures the rock into small chips andchunks, which are then blown back up through the hollow drill rods tosurface by high-pressure air.  This creates a continuous stream ofbedrock material that geologists collect and analyse, allowing theCompany to map lithology, mineralisation and alteration.  Theseresults help determine where more detailed and expensive, deeperdrilling is warranted.

Inflection will draw on its in-depth technicalexpertise from other gold-copper systems in New South Wales andelsewhere to analyse and interpret the data collected from thisprogram.

Click Image To View Full Size

Figure 1:  TrangieProject drill hole location map showing previously drilled Inflectionmud-rotary/diamond holes (white), including TRNDH023 and TRNDH032 andcompleted Air Core holes (Black) and pending Air Core holes (yellow)on an aeromagnetic base map (RTP-1VD).

Click Image To View Full Size

Figure 2:  TrangieAir Core drilling being completed by contractor WallisDrilling.

AngloGold Ashanti Earn-in Agreement Update:

AngloGold Ashanti has notified theCompany that it intends to withdraw Duck Creek and Crooked Creek asDesignated Projects under the Earn-in Agreement.  Going forward,AngloGold Ashanti will focus on two Designated Projects: Trangie andNyngan.

AngloGold Ashanti will retain nointerest in the Duck Creek and Crooked Creek projects which are 100%owned by Inflection.  The terms of the ongoing AngloGold AshantiEarn-in Agreement for the Trangie and Nyngan Designated Projects areas follows:

PhaseII:

AngloGold Ashanti can earn an initial 51% interest inthe Trangie and Nyngan Designated Projects by sole fundingexpenditures of AUD$7,000,000 on each project within 36 months.  IfAngloGold Ashanti does not elect to complete the Phase II earn-inexpenditure for a given Designated Project, Inflection will retain100% ownership of the project with no interest earned by AngloGoldAshanti.

Phase III:

Upon completion of Phase II, AngloGold Ashanti mayelect to earn an additional 14% interest in each Designated Project(for a total 65% interest) by sole funding additional expenditures ofAUD$20,000,000 on each Designated Project within 24 months.  IfAngloGold Ashanti initiates but does not complete Phase III, itsownership interest in the Designated Project will revert to 49%, whichInflection retains the right to purchase at a mutually agreed price orfor fair value if a price cannot be mutually agreed within a specifiedperiod.

Phase IV:

Upon completion of Phase III, AngloGold Ashanti retainsthe right to earn a further 10% interest in each Designated Project(bringing its potential ownership interest to 75%) by completing thefollowing:

• Delivering to Inflectiona Pre-Feasibility Study in accordance with the CIM DefinitionStandards on Mineral Resources and Ore Reserves, based on a minimum of2,000,000 ounces of gold or gold-copper equivalent Measured andIndicated resources within 36 months after AngloGold Ashanti provides notice to move to Phase IV; and 

• Granting to Inflection a 2% net smelter return(“NSR”) royalty on the applicable Designated Project; provided,however, that if the Designated Project has any existing underlyingroyalties, Inflection will be granted a 1% NSR royalty.  AngloGoldAshanti will have the right to buy back 0.5% of any 2% NSR royalty and0.25% of any 1% NSR royalty for all or a portion of the respectiveDesignated Project for fair value at any time. 

About Inflection’s NSW Projects:

The Company is systematicallyexploring for large copper-gold and gold deposits in the northerninterpreted extension of the Macquarie Arc, part of the Lachlan FoldBelt in New South Wales.  The Macquarie Arc is Australia’s premierporphyry copper-gold province hosting Newmont Mining’s Cadiadeposits, Evolution Mining’s Northparkes and Cowal deposits plusnumerous exploration prospects, including Boda, a discovery made byAlkane Resources.

Semi-Annual Reporting:

The Company has elected to rely on Coordinated Blanket Order 51-933and move to semi-annual financial reporting (“SAR”).  The decision to transition to SAR will enable the Company tofocus on core exploration activities while reducing certain overheadcosts, including professional fees and regulatory filing expenses.

Coordinated Blanket Order 51-933 allows eligible venture issuerslisted on the Canadian Securities Exchange to voluntarily move from aquarterly to a semi-annual financial reporting framework.  TheCompany’s fiscal year ends on September 30.  Under the SAR pilotprogram, the Company will be exempt from filing interim financialreports and related Management’s Discussion & Analysis for itsfirst and third quarters.

• Interim Period:  The Company will not file an interim report for thefirst quarter (Q1) ending December 31 or the third quarter (Q3) endingJune 30; 

• Ongoing Reporting:  The Company will continue to file auditedfinancial statements (due within 120 days of September 30) andsix-month interim financial reports (due within 60 days of March31). 

The Company confirms it meets the pilot program’s eligibilitycriteria, which include being a venture issuer with annual revenues ofless than $10 million and maintaining a clean 12-month continuousdisclosure record.  The Company remains committed totimely disclosure and transparency via press releases, material changereports and all other regulatory and securities exchange requirements,to ensure that investors remain informed between reporting periods. SAR will not impact the Company's obligations to provide timelyand comprehensive disclosure of any material events.

Qualified Person and Sampling Quality Control:

The scientific and technical information contained inthis news release has been reviewed and approved by Mr. Carl Swensson(FAusIMM), a “Qualified Person” (“QP”) as defined in NationalInstrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Swensson is not independent, as he is a director of theCompany’s subsidiary and a shareholder of the Company.

Drilling was conducted using a truck-mounted Air Coredrill rig.  Samples are logged at the Company’s field office,photographed and marked before being cut to the Company’s specifiedsample intervals.  Half samples are placed in bags withinternationally certified blanks and standards inserted.  Samples aredispatched to ALS Laboratories in Orange, an accredited analyticallaboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015. ALS preparessamples by crushing and grinding via methods CRU-31 and PUL-32arespectively.  The pulps are then assayed for 64 elements via methodME-MS61r using a 25 g sample after a four-acid near-total digest withan ICP-MS finish.  Gold, platinum and palladium will be assayed byfire assay using method PGM-ICP23 using a 30 g sample charge and anICP-MS finish. Laboratory standards and QA/QC are monitored by theCompany using Oreas Certified Reference Materials.  Coarse rejects are subjected toshort-wave near-infrared spectral analysis which provides detailedconfirmation of the hydrothermal alteration present and is imperativefor vectoring towards a mineralised porphyry system.

About Inflection Resources Ltd.

Inflection is a gold-copper focusedmineral exploration company listed on the Canadian Securities Exchangeunder the symbol “AUCU”, on the OTCQB under the symbol “AUCUF”and on the Frankfurt Stock Exchange under the symbol “5VJ”, withprojects in New South Wales and the Northern Territory, Australia. For more information, please visit the Company website atwww.inflectionresources.com.

NewQuest Capital Group

Inflection is part of the NewQuest Capital Group, anentrepreneurial, discovery-driven investment group that builds valuethrough the incubation and financing of early-stage mineralexploration projects globally.  Further information about NewQuestcan be found at www.nqcapitalgroup.com.

FORWARD-LOOKING STATEMENTS

This news release includes certain forward-lookingstatements and forward-looking information (collectively,"forward-looking statements") within the meaning of applicableCanadian securities legislation. All statements, other than statementsof historical fact, included herein including, without limitation,statements regarding future exploration expenditures by AngloGoldAshanti, amount of drilling, commencement and cost of explorationprograms in respect of the Company's projects and mineralproperties, AngloGold Ashanti’s anticipated funding of the Phase IIExploration Expenditures and timing thereof, and the anticipatedbusiness plans and timing of future activities of the Company, areforward-looking statements. Although the Companybelieves that such statements are reasonable, it can give no assurancethat such expectations will prove to be correct. Often, but notalways, forward looking information can be identified by words such as"pro forma", "plans", "expects","may", "should", "budget","scheduled", "estimates", "forecasts","intends", "anticipates", "believes","potential" or variations of such words including negativevariations thereof, and phrases that refer to certain actions, eventsor results that may, could, would, might or will occur or be taken orachieved. Forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the Company to differ materially fromany future results, performance or achievements expressed or impliedby the forward-looking statements. Such risks and other factorsinclude, among others, statements as to the anticipated business plansand timing of future activities of the Company, including theCompany's exploration plans. the proposed expenditures forexploration work thereon, the ability of the Company to obtainsufficient financing to fund its business activities and plans, delaysin obtaining governmental and regulatory approvals (including of theCanadian Securities Exchange), permits or financing, changes in laws,regulations and policies affecting mining operations, theCompany's limited operating history, currency fluctuations, titledisputes or claims, environmental issues and liabilities, as well asthose factors discussed under the heading "Risk Factors" inthe Company's prospectus dated June 12, 2020 and other filings ofthe Company with the Canadian Securities Authorities, copies of whichcan be found under the Company's profile on the SEDAR+ website atwww.sedarplus.ca.  Readers arecautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of theforward-looking statements, except as otherwise required bylaw.

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