Forty Pillars To Option Drill-Ready Golden Link Project In Newfoundland Gold Belt

(TheNewswire)

Vancouver, B.C. – Jan 8, 2026 ? TheNewswire - Forty Pillars Mining Corp. (CSE: PLLR)(the “Company” or “FortyPillars”) is pleased to announce that it has entered into anagreement (the “Agreement”) giving it the right to acquire 100% of theGolden Link Project (the “Project” or “GLP”) located in the prolific Central Newfoundland GoldBelt.

The Golden Link Project consists of two contiguousmineral licenses encompassing a total land area of ~36.25km2 located approximately 21 km north of the town of Gander,Newfoundland. The GLP can be accessed by road via the Trans-CanadaHighway and well-maintained forest service roads. A transmission lineruns just 15km east of the Project.

Highlights

• Located on a Proven Gold-BearingStructural Corridor 

The Golden Link Project sits along the Dog Bay Line and relatedsecondary structures, a major regional fault system that hostssignificant orogenic gold mineralization elsewhere in centralNewfoundland (Figure 1).

• Independent Regional GeochemistryConfirms Prospectivity 

Regional work by Torq Resources and Heberlein Consulting identifiedcoherent gold-in-till anomalies along a ~25 km structural corridor,including a high-priority target directly within the Golden LinkProject area (Figure 2).

• Modern IP Survey Defines MultipleDrill-Ready Targets 

The 2024 high-definition Alpha IP survey outlined 69 chargeabilityanomalies, including 16 first-priority and 34 second-priority targets,many with depth continuity exceeding 300 metres (Figure 3).

• Strong Target Convergence De-RisksExploration 

The spatial overlap of regional geochemical anomalies, interpretedfault structures, and high-priority IP responses provides strongconfidence that the GLP is targeting the right parts of a fertile goldsystem.

• Large Upside with No HistoricalDrilling 

Despite compelling geological and geophysical indicators, the Projecthas seen no historical drilling, leaving all the targets untested. TheGLP is positioned for systematic exploration followed by drilltesting.

• District Validation from NewfoundGold’s Recent Land Consolidation and Positive PEA 

Recent land consolidation along the Appleton Fault and Dog Bay Line,together with a positive PEA completed by Newfound Gold Corp.,validate the district’s prospectivity and demonstrate its ability tosupport large-scale, economically viable orogenic gold systems,providing important regional context for exploration-stage project.

*Readers are cautioned that thegeology of nearby properties is not necessarily indicative of thegeology of the Project.

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Figure 1: Plan view map showing NewFound Gold land package, regional structures and drill highlights inrelation to the GLP

Forty Pillars CEO Nader Vatanchi commented “Golden Link gives us exposure to one ofthe most active and prolific gold districts in Canada, but in an areathat remains largely untested. We’re not starting from scratch here,targets are already defined, the structures are well understood, andthe upside is clear. This is exactly the type of acquisition webelieve can deliver meaningful exploration upside for ourshareholders.”

The 2023 Newfound GoldOrthoimagery/LIDAR Survey

The entire Golden Link Project is covered by a high-resolution LiDARand orthophoto survey completed in 2023 by Newfound Gold Corp.,providing a consistent, high-precision digital elevation model (the“DEM”) across all minerallicenses. The survey delivers a uniform elevation dataset referencedto a single vertical datum, ensuring reliable spatial control forexploration planning and interpretation.

This dataset provides a strong technical foundation for the Project,supporting precise geophysical survey design, accurate structuralinterpretation, and future drone-based and autonomous explorationprograms. The DEM also captures key surface and hydrological features,including lakes, wetlands, rivers, and watersheds, which are importantfor both exploration logistics and environmental planning.

The survey was completed as a single, large-area program over a shorttime frame, resulting in consistent resolution and data quality acrossthe entire Project area. This approach avoids the common issuesassociated with patchwork LiDAR coverage, such as variable resolution,mismatched elevation datums, seasonal artifacts, and data gaps thatcan complicate interpretation and automated analysis.

By surveying the broader area in a single program, the datasetprovides clean, seamless coverage that enhances the effectiveness ofstructural mapping, watershed analysis, and integration withgeophysical and geochemical datasets. The scale and consistency ofthis LiDAR coverage represent a meaningful advantage for Golden Link,as high-quality topographic control is critical when advancingstructurally focused gold exploration projects (Newfound Gold Corp.,2023).

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Figure 2: Plan view map of six discretegold-in-till anomaly targets generated by Torq Resources and HeberleinConsulting Exploration Program (Target 4 located on GLP)

Torq Resources and HeberleinConsulting Exploration Program

Regional exploration completed by Torq Resources between 2017 and 2018provides a strong technical foundation for the Golden Link Project.Torq’s program covered a large portion of central Newfoundland,including the Golden Link area, and was designed to identifystructurally controlled gold systems along the Dog Bay Line andassociated fault corridors.

The program integrated multiple independent exploration methods,including detailed pXRF till sampling, biogeochemical sampling,conventional till and rock sampling, and compilation of regionalgeophysical and geological datasets. These data were interpreted byHeberlein Consulting, which applied advanced multivariate statisticaltechniques to identify coherent gold and pathfinder element patternsrelated to bedrock sources.

This work identified six discrete gold-in-till anomalies distributedalong a ~25 kilometre structural corridor parallel to the Dog BayLine. One of these anomalies, referred to as Target 4, lies directlywithin the Golden Link Project area. Target 4 was interpreted as ahigh-priority gold target, spatially associated with major regionalstructures, including the Dog Bay Line and the Appleton Linear, andsupported by coincident geochemical responses from multiple samplingmedia (Torq Resources, 2018; Heberlein Consulting, 2018.

Importantly, the Torq–Heberlein targets were generated prior to anymodern geophysical surveying on the Golden Link Project, providing anindependent line of evidence for gold prospectivity. Subsequentexploration by VOA Exploration utilized these results to guidefollow-up work, including the design and placement of ahigh-resolution IP survey specifically over the Target 4 area.

The coincidence of Torq-defined geochemical anomalies, Heberlein’sinterpreted structural controls, and modern IP-defined chargeabilitytargets significantly enhances confidence in the Golden Link Projectand supports its interpretation as part of a larger, structurallycontrolled orogenic gold system.

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Figure 3: Plan view map of the Alpha IPTrends (after Simcoe Geoscience) on the GLP, alongside historic Au intill samples

About the 2024 IP Survey

A high-definition 2D Alpha IP™ resistivity and chargeability surveywas completed over the Golden Link Project in 2024 by SimcoeGeoscience Ltd. The survey comprised 16 east–west oriented IPprofiles with approximately 50-metre dipole spacing, providingdetailed coverage across priority structural corridors on both sidesof the Project area.

The wireless Alpha IP™ system enabled imaging to depths of greaterthan 300 metres on longer profiles, consistent with the target depthsbeing explored elsewhere in the district. Data quality was monitoredand processed on a daily basis during acquisition, allowing forreal-time refinement of survey parameters and ensuring a robust finaldataset.

Subsurface modeling integrated both resistivity and chargeabilityresponses using industry-standard inversion techniques, generatingdepth-constrained sections and plan maps at multiple levels. Thesedatasets were compiled into a comprehensive interpretation thatintegrates geophysical responses with topography, structure, andproperty boundaries.

The IP survey successfully delineated sixty-nine (69) chargeabilityanomalies across the Project, highlighting the target-rich nature ofthe Golden Link Project. These anomalies were ranked based onstrength, geometry, and geological context (Simcoe Geoscience Ltd.,2025; Rodway, 2025):

• Sixteen (16) first-priority targets, characterized by strongchargeability responses and favourable resistivity signatures,interpreted to represent zones of significant sulphide concentrationand high exploration potential. 

• Thirty-four (34) second-priority targets, displaying moderatechargeability and resistivity, interpreted as structurally controlledmineralized zones. 

• Nineteen (19) third-priority targets, generally deeper-seatedanomalies interpreted as down-dip or along-strike extensions ofhigher-priority targets, suggesting potential vertical continuity ofmineralization. 

Importantly, many of the highest-priority IP targets coincide withregional gold-in-till anomalies identified by Torq Resources,providing strong independent validation from multiple explorationmethods. All priority targets remain untested by drilling, positioningthe Golden Link Project for immediate follow-up exploration (TorqResources, 2018; Rodway, 2025).

Geology of the Golden LinkProject

The Golden Link Project is located within the Exploits Subzone of theDunnage Zone in central Newfoundland, a highly prospectivetectonostratigraphic domain formed during the Paleozoic Appalachianorogeny. This region represents accreted volcanic arc and marinesedimentary sequences associated with closure of the Iapetus Ocean andis dissected by several major, long-lived crustal-scale fault systems(Williams et al., 1988; Currie, 1995; Torq Resources, 2018).

The Project is centred on the Dog Bay Line, a major Silurian tectonicboundary that separates Middle Ordovician clastic sedimentary rocks ofthe Davidsville Group to the east from Silurian sedimentary rocks ofthe Indian Islands Group to the west. These units are locally overlainby red shale, siltstone, and sandstone of the Ten Mile Lake Formation.The Dog Bay Line and associated secondary and tertiary fault splaysare interpreted to have accommodated multiple phases of strike-slip,oblique-slip, and brittle to brittle-ductile deformation, creatingfavourable structural traps for gold mineralization (Pollock et al.,2007; Torq Resources, 2018).

Gold mineralization in the Project area is interpreted to be orogenicin style and structurally controlled. Historical work indicates thatmineralization is associated with quartz and quartz-carbonate veining,brecciation, silicification, and carbonate ± sericite alteration.Sulphide mineralization includes disseminated and blebby pyrite,arsenopyrite, and locally chalcopyrite, with reported occurrences ofscheelite and Au-Ag tellurides. Mineralization and alteration are notrestricted to a single host lithology and have been documented insedimentary, volcanic, and intrusive rocks, including sandstone,siltstone, greywacke, gabbro, diorite, and monzonite (Torq Resources,2018).

Recent exploration success to the south by Newfound Gold Corp. hasdemonstrated that the regional structural framework is capable ofhosting extensive, high-grade epizonal to orogenic gold systemsdeveloped along major fault corridors. In response, exploration at theGolden Link Project is focused on testing secondary, tertiary, andhigher-order structures associated with the Dog Bay Line, wherestructural complexity, favourable host rocks, and multiple generationsof deformation are interpreted to enhance gold prospectivity (NewfoundGold Corp., 2023; Newfound Gold Corp., 2024).

Newfound Gold Discovery and DistrictAdvancement

Exploration success in central Newfoundland has rapidly elevated thedistrict’s profile and validated the broader structural frameworkthat the Golden Link Project is targeting. Newfound Gold Corp.’sinitial breakthrough at the Keats Zone included the widely citedintercept in discovery hole NFGC-19-01 of 19.0 m grading 92.86 g/t Au(including 285.2 g/t Au over 6.0 m), which helped catalyze renewedexploration interest along the Appleton Fault and adjacent regionalstructures.

Following that early success, Newfound Gold’s ongoing systematicdrilling has continued to expand and connect high-grade mineralizedzones along strike within its Queensway Project footprint, reinforcingthe interpretation that this is a large, structurally controlledorogenic gold system with meaningful scale potential. In parallel,continued consolidation and expansion of land positions in thedistrict has underscored the strategic value of controllingprospective strike length along key fault corridors in centralNewfoundland.

Most recently, Newfound Gold advanced the district fromdiscovery-driven exploration into economic evaluation with the releaseof a Preliminary Economic Assessment (PEA) on the Queensway Project inJuly 2025. The progression from discovery to a formal economic studyprovides important regional context for Golden Link, which sits withinthe same highly active exploration district and targets structurallyanalogous corridors associated with the Dog Bay Line and related faultsplays.

*Readers are cautioned that thegeology of nearby properties is not necessarily indicative of thegeology of the Project

Transaction Summary

The Agreement was entered into with with 1487049B.C. Ltd. (“1487”) and VOAExploration Inc. (“VOA”)on January 7, 2026 (the “EffectiveDate”). Pursuant to the Agreement, the Companywill be assigned (the “Assignment”) an option (the “Option”) to acquirethe Golden Link Project in consideration for (i) the issuance of anaggregate of 17,500,000 common shares in the capital of the Company(the “AssignmentShares”) and (ii) the assumption of $200,000in liabilities. All Assignment Shares issued in connection with thetransaction will be subject to a voluntary hold period of six monthsfrom the date of issuance.

The Agreement also contemplates certain amendments tothe existing option agreement respecting the Option (as amended, the“OptionAgreement”). Upon completion of theAssignment, the Company will hold, through the Option Agreement, theright to  earn a 100% interest in the Project by satisfying thefollowing cash payments, share issuances, and exploration expenditurecommitments:

Cash Payments

• $100,000 payable to VOA on or before the firstanniversary of the Effective Date; 

• $275,000 payable to VOA on or before the secondanniversary of the Effective Date. 

Share Issuances

• 3,000,000 common shares issuable to VOA on or beforethe first anniversary of the Effective Date, to be held in escrow andreleased as follows: 

  1. (i)25% four months and one dayfrom issuance; 

  2. (ii)25% six months fromissuance; 

  3. (iii)25% twelve months fromissuance; and 

  4. (iv)25% eighteen months fromissuance. 

• 4,000,000 common shares issuable to VOA on or beforethe second anniversary of the Effective Date, to be held in escrow andreleased on the same schedule. 

Exploration ExpenditureCommitments

• $200,000 on or before the first anniversary of theEffective Date; 

• $500,000 on or before the second anniversary of theEffective Date; 

• $500,000 on or before the third anniversary of theEffective Date; and 

• $1,000,000 on or before the fourth anniversary of theEffective Date. 

Completion of the Assignment remains subject to customary closingconditions, including approval of the Canadian Securities Exchange.The Company expects the Assignment to close in the first quarter of2026.

National Instrument 43-101Disclosure

Nicholas Rodway, P.Geo, (Licence# 46541) (Permit to Practice# 1000359)is a Consultant of the Company, and qualified person as defined byNational Instrument 43-101- Standards of Disclosure for MineralProjects. Mr. Rodway has supervised the preparation, verified andapproved the technical content in this release. Verification includedreview of historical assessment reports. No limitations were notedduring the verification process.

References

Currie, K. L. (1995). The northeastern end of the Dunnage Zonein Newfoundland. Atlantic Geology, 31(1),25–38.

Heberlein Consulting. (2018). Multivariate geochemical interpretation oftill and biogeochemical datasets, central Newfoundland (Unpublished consultant report prepared for Torq ResourcesCorp.).

Newfound Gold Corp. (2023). Central Newfoundland LiDAR and orthophotosurvey technical summary (Internal technicalreport).

Newfound Gold Corp. (2024). Technical disclosure and mineral resourceupdate, central Newfoundland gold district.Company filings and news releases.

Pollock, J. C., Wilton, D. H. C., Van Staal, C. R.,& Morrissey, K. D. (2007).
U–Pb detrital zircon constraints on the Silurian collision ofGanderia and Laurentia along the Dog Bay Line, Newfoundland. AmericanJournal of Science, 307(2), 399–433.

Rodway, N. (2025). Year 2 assessment report on the GoldenLink Project: Alpha IP survey interpretation and explorationtargeting. Unpublished report prepared for VOAExploration Inc.

Simcoe Geoscience Ltd. (2025). Alpha IP™ resistivity and chargeabilitysurvey, Golden Link Project, Newfoundland.Unpublished geophysical report.

Torq Resources Corp. (2018). Second year assessment report: Regionaltill, biogeochemical and geological exploration, centralNewfoundland. Government of Newfoundland andLabrador assessment filing NFLD-3404.

Williams, H., Colman-Sadd, S. P., & Swinden, H. S.(1988).
Tectonic-stratigraphicsubdivision of central Newfoundland. GeologicalSurvey of Canada, Paper 88-1B, 91–98.

About Forty Pillars

Forty Pillars Mining Corp. is a Vancouver, B.C. based mineralexploration company focused on exploring the Silver Dollar Projectlocated in the Greenwood Mining Division, B.C. The Company also has anoption to acquire a 100% interest in the Val-d’Or North property inthe Abitibi sub-province of Quebec.

FOR FURTHER INFORMATION CONTACT:

Nader Vatanchi

Chief Executive Officer

e:nadervatanchi@hotmail.com

p: 778-881-4631

Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the CSE) accepts responsibility for the adequacy oraccuracy of this release.

FORWARD LOOKINGSTATEMENTS

Statements in this document whichare not purely historical are forward-looking statements, includingany statements regarding beliefs, plans, expectations, or intentionsregarding the future. Forward looking statements in this news releaseinclude, but are not limited to: statements regarding theopportunities for new discoveries and development in theCentral Newfoundland Gold Belt and Forty Pillar’s potential to become a premier explorer in theCentral Newfoundland Gold Belt area; the Assignment and the expectedtiming thereof; the Option; and any other general statement regardingthe Company’s planned or future exploration efforts at the GoldenLink Project. It is important to note that the Company’s actualbusiness outcomes and exploration results could differ materially fromthose in such forward-looking statements. Risks and uncertaintiesinclude that the Company may not, due to environmental, technologicaland other factors, be successful in expanding the mineralizationfootprint of the Projects as planned; that the Company may be unableto implement its plans to further explore at the Golden Link Project;that certain exploration methods, including the Company’s proposedexploration model for the Golden Link Project, may be ineffective orinadequate in the circumstances; that economic, competitive,governmental, geopolitical, environmental and technological factorsmay affect the Company’s operations, markets, products and prices;our specific plans and timing drilling, field work and other plans maychange; that the Company may not have access to or be able to developany minerals because of cost factors, type of terrain, or availabilityof equipment and technology; and we may also not raise sufficientfunds to carry out or complete our plans. Labor shortages,inflationary pressures, rising interest rates, the global financialclimate and the conflict in Ukraine and surrounding regions are someadditional factors that are affecting current economic conditions andincreasing economic uncertainty, which may impact the Company’soperating performance, financial position, and prospects.Collectively, the potential impacts of this economic environment poserisks that are currently indescribable and immeasurable. No assurancecan be given that any of the events anticipated by the forward-lookingstatements will occur or, if they do occur, what benefits the Companywill obtain from them. Readers are cautioned that forward-lookingstatements are not guarantees of future performance or events and,accordingly, are cautioned not to put undue reliance onforward-looking statements due to the inherent uncertainty of suchstatements. Additional risk factors are discussed in the sectionentitled “Risk Factors” in the Company’s Management Discussionand Analysis for its recently completed fiscal period, which isavailable under the Company’s SEDAR+ profile at www.sedarplus.ca. Except as required by law, the Companywill not update or revise these forward-looking statements after thedate of this document or to revise them to reflect the occurrence offuture unanticipated events.

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