Karus Mining Commences Exploration and 7,500m Drill Program at South Cariboo Gold District Project
VANCOUVER, BRITISH COLUMBIA — June 11, 2026 — Leads & Copy — Karus Mining Inc. has launched exploration activities at its South Cariboo Gold District project in British Columbia, initiating a 7,500-meter drill program aimed at further defining and expanding high-grade gold potential at the FG Gold Property. This program is designed to build upon the success of previous efforts following the combination of Karus Mining and Theia Gold Corp., which has strengthened the company’s technical team and secured full funding for exploration.
The 2026 Exploration Plan’s key objectives include a focused drill program to expand and further define the two higher-grade, structurally controlled vein corridors identified in 2020-21 at FG Gold. These corridors currently extend 650 meters along strike and remain open to the northwest. The company also plans to drill-test high-priority targets to discover new vein corridors extending over 20 kilometers northwest of FG Gold. These higher-grade corridors are known to be repetitive and are defined by gold-in-soil anomalies and historical drill intercepts. The initial 7,500 meters of core drilling may be expanded based on program developments.
A detailed review of recent drill programs from 2020-21 by Karus’ technical team has reinforced the understanding of structural controls that localize high-grade gold mineralization at FG Gold. This mineralization is typical of sediment-hosted orogenic gold deposits, where high-grade gold is found in areas of increased quartz veining related to the deformation of the host sedimentary rocks. The favorable stratigraphic unit hosting this mineralization is folded around the Eureka Syncline, a large-scale northwest-trending synform. Smaller, parallel fold zones, known as parasitic folds or “hinge zones,” are understood to thicken gold-bearing veins within their hinges, creating regularly spaced zones with broader low-grade mineralization cored by higher-grade intervals associated with increased quartz veining.
These zones are oriented northwest-southeast, parallel to the axial plane of the Eureka Syncline. The company believes that drill intercepts from 2020-21 define two of these higher-grade gold corridors, which will be the primary focus of the 2026 drill program. Previous significant drill results include FG-20-376 with 48 meters grading 1.6 g/t gold, including 21 meters grading 2.9 g/t gold; FG-20-377 with 31 meters grading 3.22 g/t gold, including 14 meters grading 6.44 g/t gold; and FG-20-378 with 62 meters grading 1.7 g/t gold, including 6.6 meters grading 9.7 g/t gold.
Additionally, Karus is incorporating historical geological information for the Mineral Creek project, located 11 kilometers south of Port Alberni, British Columbia, into a modern database. The geological team plans to use this integrated model to define drill targets for a program in the latter half of 2026.
Effective June 11, 2026, the Board of Directors approved the grant of 2,000,000 incentive stock options to directors, officers, and advisors. These options are exercisable at C$0.85 per share and will expire on June 11, 2031, with vesting occurring in three equal parts on June 11, 2026, 2027, and 2028.
Karus Mining is the 100% owner of 994.88 square kilometers of mineral claims in the South Cariboo Gold District, encompassing the FG Gold and Gold Creek projects. The company also controls the Mineral Creek gold exploration project on Vancouver Island. Karus was formed through the merger of Karus and Theia Gold Corp. in 2023.
Source: Karus Mining Inc.
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