New Drill Result Sets the Tone – 8.4 m @ ~50 g/t AuEq

On September 2, 2025, Great Pacific Gold (FSXLF) announced one of the most impressive drill results seen in Papua New Guinea in recent years: Hole WDG-08 intersected 8.4 metres grading 49.9 g/t gold equivalent (including 3.8 m at 105 g/t AuEq and a bonanza zone of 0.8 m at over 320 g/t AuEq).

These intercepts highlight the exceptionally high-grade nature of the Wild Dog epithermal system. In addition to gold, the core returned significant copper (up to 6.6%) and silver grades (up to 142 g/t) – clear evidence of a robust polymetallic vein corridor. According to VP Exploration Callum Spink, this hole drilled “directly into the heart of the system.”

For investors, this means: Wild Dog is not only large in scale, but also delivers bonanza-grade hits – a double lever for rapid re-rating.

Top Headlines – FSXLF at a Glance

• Wild Dog: Drill program increased to 5,000 m, LiDAR started → more precise collars.
• Geophysics: ~15 km epithermal trend + porphyry targets confirmed.
  
• Results: Near-surface high grades (e.g. 3.5 m @ 13.1 g/t AuEq) → open pit option conceivable.
• Financing: C$1.83 million non-dilutive + C$1.5 M Walhalla cash + C$16.9M private placement (July 2025) → less dilution.

The Macro Level - Why Gold & Exploration Now?

Geopolitical tensions, high deficits and the energy hunger of AI data centres are structurally keeping the gold price high. Capital flows into explorers with clear catalysts – this is exactly where FSXLF fits perfectly into the picture.

• Wild Dog: Program doubled + LiDAR-supported – clear signal of confidence
• MobileMT: Confirms large-scale system potential (epithermal + porphyry)
• Financing: Non-dilutive cash inflows + Walhalla spin-out → more drilling meters, less dilution

CEO Greg McCunn puts it in a nutshell in an interview: "functioning regulators... very strong safety culture... elephant country". 

For investors, this means that FSXLF combines news flow, scaling and financing security – a setup that translates into valuations at an above-average rate in a friendly gold market.

Papua New Guinea Jurisdiction (PNG) – Why Location Is FSXLF's Lever

Papua New Guinea (PNG) is known in the mining world as " elephant country" – a term for regions where particularly large gold and copper systems occurs. PNG is one of the most interesting addresses for investors because high-grade gold veins (epithermal systems) and large-scale copper-gold deposits (porphyries) overlap here.

Crucially, Papua New Guinea (PNG) is predictable. CEO Greg McCunn describes the market as a jurisdiction with "functioning regulators" – i.e. functioning supervisory authorities and clear mining laws. The fact that international producers have been operating successfully there for decades is confirmed by the Ownership security and approvability. 

Notable examples include:

• Barrick Gold’s Porgera Mine - a world-class gold operation with decades of production history
• Newmont’s Lihir Mine - one of the largest known gold deposits globally
• K92 Mining’s Kainantu Mine - a rapidly growing producer that achieved record annual production of 150,000 AuEq in 2024

The workforce is also an advantage: Papua New Guinea (PNG) has experienced crews who work according to international standards. McCunn emphasizes the "very strong safety culture" – fewer failures, stable processes and reliable safety processes.

In addition, there is logistics: Wild Dog is located near the ports of Rabaul and Kokopo, which means that material and samples can be transported quickly. Using modern technology such as LiDAR (laser scan of topography) and MobileMT (electromagnetic depth measurement), FSXLF can plan holes with centimetre accuracy and align them with the most promising targets. This saves time, reduces costs and increases the chance of hits.

An additional plus is the Kainantu Pipeline: With the Kesar and Arau projects, FSXLF is directly adjacent to K92 Mining, a successful producer in the region. This reduces the risk and creates a second news flow next to Wild Dog. Further strengthening this link, FSXLF has two K92 executives on its team - one serving as an Advisor and the other as a Board member - bringing direct operational expertise from one of PNG’s most successful gold producers.

In short, Papua New Guinea (PNG) offers stable regulation, an experienced workforce, world-class geology, and logistical advantages – a rare combination that translates projects into assessments faster.

Wild Dog (East New Britain, PNG) – the flagship project

The Wild Dog Project is the heart of FSXLF. It is located in the Province of  East New Britain and covers a large-scale, high-grade gold system. Studies with MobileMT show a 15 km long epithermal corridor, which reaches a depth of over 1,000 meters. In addition, Porphyry Targets – large copper-gold systems that are interesting for possible later large-scale production. 

Video & Interview – CEO Greg McCunn on FSXLF’s Edge in Papua New Guinea

FSXLF maximizes drilling meters per share without diluting the price with new shares. This is a clear competitive advantage in the junior segment.

In a recent interview with the KE Report, CEO Greg McCunn highlights why Great Pacific Gold is well-positioned for discovery and growth in Papua New Guinea. 

• Scale & Potential → Wild Dog has over 15km of high-grade epithermal strike with mineralization extending to 1,000m. Current drilling targets <10% of the belt, offering significant upside
• Team & Local Advantage → experienced crews trained by Barrick, Newmount, Harmony; two K92 executives on team; strong safety culture
• Strategic Location → Kesar and Arau projects adjacent to K92’s Kainantu mine, de-risking discovery
• Funding → $16.9M private placement closed July 2025 + $1.83M from asset sales and Walhalla spin-out fully funds exploration
• Funding → $16.9M private placement closed July 2025 + $1.83M from asset sales and Walhalla spin-out fully funds exploration

FSXLF combines best-in-class teams, strategic assets, and a strong balance sheet - setting the stage for meaningful exploration success in a proven jurisdiction.

McCunn also emphasizes:

• Wild Dog: Historic workings provide orientation, access road & environmental studies completed. MobileMT shows a 15 km long epithermal corridor complemented by porphyry targets. The program was doubled to 5,000 m and refined by LiDAR – a rare double lever of short-term high-grade news and long-term scaling.
• Kesar (Kainantu Belt): Located directly adjacent to K92 Mining, with several prioritized targets (including Antuno, Hampore, Fufu Nambi). A second news trail next to Wild Dog – and the chance to play in an established gold belt. Two K92 executives are part of FSXLF’s team one as an Advisor and the other as a Board member, bringing deep regional and operational expertise
• Walhalla spin-out: 1:1 dividend share for shareholders, C$1.5 million cash for FSXLF and a 2% royalty – a value driver at no cost of its own.

CEO Profile – Why Greg McCunn Builds Trust

The interview shows that FSXLF operates several levers at once - discovery news, pipeline projects and a free spin-out. This increases the likelihood that the company will end up in shortlists for gold stocks.

In exploration, strong management is a key factor for success. Greg McCunn brings a rare combination: production experience + financial discipline.

• Galiano Gold: As CEO, he was responsible for ~250,000 oz annual production (2019/2020), returned profits to shareholders and conducted buybacks.
• Alio Gold: Restructuring, rebranding, new permits, DFS launch and a takeover for diversification – a complete toolbox from project to M&A maturity.

At FSXLF, he puts this experience directly into practice: capital architecture without permanent equity, clearly prioritized funds, spin-out structure and targeted drilling. For investors, this means a higher probability that strong drilling results will quickly lead to a reliable project evaluation.

ESG, approvals & speed – the underestimated strength

A CEO with production experience reduces the implementation risk - an important "soft factor" that makes the difference for explorers.

Many juniors fail not because of geology, but because of permits, community issues, or inefficient programs. FSXLF addresses exactly these points:

• Clean preparatory work: The access road and environmental basics were completed before the first metre of drilling. This creates acceptance and predictability.
• Tech stack: The Combination of MobileMT (electromagnetic depth measurement) and LiDAR (laser scan) ensures that drilling is concentrated on the most promising structures. The result: fewer blind meters, lower costs, faster news flow.
  
• Safety & Workforce: Decades of mining have produced experienced crews in PNG. The "very strong safety culture" means fewer failures and streamlined processes – hard factors that minimize project risks.
  
• Speed: There were only a few months between the license, preparatory work and the start of drilling – exceptionally fast for PNG. The fact that FSXLF is expanding its program to 5,000 m shows confidence in the model and the authorities.
  

This creates a once in a lifetime opportunity for small-cap gold stocks with prime assets. Here’s why...

Institutional money is pouring in while supply remains tight – mine production has been growing at a mere ~1% annually, barely moving the needle. In our view, companies controlling strategic gold assets such as Quimbaya Gold (CSE: $QIM | OTC: $QIMGF) stand ready to capture massive value in this bull market.

JV/M&A logic – why FSXLF is interesting for big players

ESG upfront + precise targeting + proximity to the port translate into lower risk, faster results and predictable value creation.

Scaling meets locational advantage

Wild Dog combines two value drivers in an area close to port infrastructure:

• Epithermal veins = potentially high-grade gold (fast, price news).
• Porphyry systems = large tonnages (long-term scaling). For buyers (gold/copper majors), it is precisely this combination that is attractive: there are visible drilling successes, logistical feasibility and a clear path towards the resource. The geophysically mapped trend (~15 km, >1,000 m depth) plus the drill program extended to 5,000 m underscore the size of the system.
  

Execution reduces deal risk

Precise target definition via LiDAR (laser scan for exact terrain models) and MobileMT (depth EM) as well as access road & environmental basic data are done. According to the CEO, PNG offers reliable authorities and a strong security culture.

Result: Data rooms become "green" faster, farm-ins/JVs become more likely.

Pipeline next to Tier 1 neighbour

Kesar is located right next to K92 Mining (Kainantu Belt) – a plus for infrastructure and model. Arau adds additional target types (high-sulphide epithermal/porphyry). For strategists, this means options: partial JV here, earn-in there – without diluting the core story. 

Clear structure at Group level

The Walhalla spin-out (1:1) gives shareholders extra leverage, while 2% NSR remains with FSXLF and C$1.5M cash flows. The PNG assets remain focused in the parent company – exactly the clarity that buyers like.

What are potential buyers waiting for

• Series of coherent, repeatable drill intercepts along the model.
• Initial metallurgy indicators (recoverability) and geometry (thickness/dip).
  
• ESG/approval proven (baseline, water, community – invested at FSXLF).
  
• Visible resource path (infill + step-outs).