Gold Hart Copper and Rhyolite Resources Enter into Definitive Arrangement Agreement; Gold Hart Completes Diamond Drill Hole at Tolita Gold-Copper Moly-Silver Asset in Vicuna District of Chile RC Drill Campaign to Launch at Tolita in Coming Days; Gold Hart
Gold Hart Copper and Rhyolite Resources Enter into Definitive Arrangement Agreement; Gold Hart Completes Diamond Drill Hole at Tolita Gold-Copper Moly-Silver Asset in Vicuna District of Chile RC Drill Campaign to Launch at Tolita in Coming Days; Gold Hart Copper Also Announces First Comprehensive Geochemical Surveys at Nessa Complex Known to Host 13 Historic High-Grade Artisanal Gold & Copper Mining Pits;
April 07, 2026 7:36 AM EDT I Source: Gold Hart Copper Corp.
Toronto, Ontario--(Newsfile Corp. - April 7, 2026) - Gold Hart Copper Corp. (TSXV: HART) ("Gold Hart" or "HART") and Rhyolite Resources Limited (TSXV: RYE) ("Rhyolite" or "RYE") are pleased to announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement"), pursuant to which, among other things, Gold Hart will acquire 100% of the issued and outstanding common shares of Rhyolite, and the Rhyolite shareholders will receive one Gold Hart common share for every 2.6 Rhyolite common shares (the "Consideration") held (the "Proposed Transaction"). The signing of the Arrangement Agreement follows the completion of an oversubscribed, concurrent $18,613,613.72 Gold Hart financing announced on March 16, 2026 and supersedes the binding letter agreement announced on February 17, 2026. Further details on the Proposed Transaction may be found below.
Gold Hart is also pleased to announce completion of the latest diamond drill hole - DDHTOL04 - at its Tolita Gold-Copper-Moly-Silver Asset in the Vicuna District of Chile. Reverse circulation drilling is now set to commence at Tolita's high-grade trench in the coming days.
Additionally, Gold Hart Copper has launched the first comprehensive geochemical survey at its Nessa Complex, which follows upon the success of the high grade gold and copper results obtained in the preliminary survey announced February 23, 2026.
Gold Hart COP-P-er - TOLDDH01 - 1.051km
The TOLDDH01 hole was completed to a final depth of 1,051m. Drilling was halted when the rig began to slow and showed signs of mechanical strain. Although the core continued to display strong veining and remained geologically compelling, Gold Hart geologists made the strategic decision to end the hole to preserve rig integrity and ensure sufficient time to complete an additional hole before the end of the season. The Company cautions that drill core visuals may not be reliable indicators of mineralization and are therefore not to be relied upon in any meaningful way.
Core recovered from TOLDDH01 exhibits classic porphyry style mineralization over an exceptionally encouraging 700m interval, marked by consistent, multi generation veining that reflects a robust hydrothermal system. Quartz veining and stockworks dominates the interval and is associated with sulfides, most commonly with argillic - phyllic alteration overprinting the potassic zones often forming well defined halos in the veins.
Visible chalcopyrite occurs locally as fine disseminations, veinlets, and fracture coatings, with bornite also present, as well as occasional covellite in the 300 - 500m interval. While these copper minerals provide a clear mineralized signature, they are not present in volumes that would necessarily indicate unusually high copper grades. Nevertheless, the sheer width of the hypothesized mineralized interval is enormously encouraging for planning and vectoring future drill holes. This zonation provides an important vector for refining our geological model and guiding the placement of the next drill hole.
Overall, the continuity of veining, consistent alteration, and presence of copper bearing sulfides throughout paint a highly positive picture of the system's scale and potential, adding meaningful confidence as we advance the exploration program.
Gold Hart Copper - i0LDDH□1 - 300--400m
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Gold Hart Copper- TOLDDHD1 -400-SOOm
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Gold Hart COP-P-er - TOLDDH04 - 551m
The TOLDDH04 hole was completed to a final depth of 551m. The hole was terminated for several reasons, primarily due to geological signals associated with the conductive structure being weaker than expected and not showing a significant change with depth. In addition, the hole began to deviate early in its inclinations, changing its dip from the planned 60° to approximately 48° by the end. While such deviations are not uncommon, this deviation increased the mechanical stress on the rig and progressively moved the hole away from the original target. Further deepening of the hole was anticipated to become technically challenging, with slower advance rates while simultaneously moving farther from the zones of interest given the drilling azimuth. Nonetheless, a total depth of more than 500m still represents a relatively deep hole and provides valuable geological information for the projects geological models.
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FlagshiP- Gold COP-P-er MolY. Silver PorP-hY.IY. Target in Vicuna District
On February 23, 2026, Gold Hart announced completion of the drill hole DDHTOL01, which reached a depth of approximately 1,053m. Interestingly, the core continued to display encouraging characteristics, with multiple intervals showing strong hydrothermal alterations and mineralization consistent with a fertile porphyry-style environment. Gold Hart geologists observed multiple generations of veinlets and stockworks with varying intensities over intervals up to several hundred meters, banded veinlets with thicknesses of several cm, and locally chalcopyrite and bornite mineralization has been recognized in several of these veinlets. HART geologists do not believe the drill intercepted the same fault which caused a sterile zone in the middle of the initial 2 diamond holes.
Gold Hart recently hosted a site visit which included tours of the Tolita & Nessa assets. Gold Hart board and advisory board members including the honourable John R. Baird, Mark Kucher, and Aleta Shiff were also in attendance. In this 360-degree immersive video - which allows you to interactively toggle views - Gold Hart co-founder Jonathan Warner explains the diamond drilling process
https:/ /cloud-va.insta360.com/share/va/374Q7q0e1K66213G4421719040 also accessible on You Tube at https://www.youtube.com/shorts/lw3fGWwQH2Q.
Gold Hart has now completed a follow-on diamond drill hole - DDHTOL04 - which reached 551m.
In addition to the ongoing diamond drill campaign, Gold Hart anticipates the imminent launch of RC drilling at its high-grade trench - with up to 52g/t gold equivalent including 3.99% copper on surface. The objective of the RC campaign is to demonstrate higher grade pockets close to surface, beyond the larger porphyry target. Gold Hart anticipates commencement of this RC drill campaign in the coming days.
Nessa COP-P-er-Gold-Silver ComP-lex - ComP-rehensive Geochemical Survev. Follows Prior Preliminarv. Survev.'s High Grade Results (COP-P-er UP- To 4.7% & Gold UP- To 9.7gl1l
Gold Hart is also pleased to announce that the Company has just launched its first comprehensive geochemical survey at its Nessa Complex just west of Kinross' La Coipa Gold Mine. Gold Hart has a team of 8 geologists and assistants leading this survey. This comprehensive geochemical survey is targeting 500-1,000 samples, primarily within the Ringo claims of the Nessa Complex. This survey follows upon the success of the preliminary geochemical survey, with several returning high grades of gold and copper. Specifically, 7 samples graded 1.25% to 4.73% copper, including 4 samples exceeding 2.40% copper. 12 Samples graded above 1g/t gold, with 6 samples grading between 4.10g/t to 9.74g/t gold.
Gold Hart Copper - Nessa Complex - Geochemical Survey Team - 1
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Gold Hart Copper - Nessa Complex - New Survey - 2
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https://images.newsfilecorp.com/files/10786/291439_gold_harLcopper _ -_nessa_complex_ - _new_survey_ -_2.jpg Rhyolite shareholders on a resolution approving the Proposed Transaction, excluding for this purpose the votes attached to Rhyolite shares held by persons required to be excluded pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.
Closing Conditions and AnticiP-ated Timing
Completion of the Proposed Transaction is expected to occur in late Q2 2026, subject to the satisfaction or waiver (as applicable) of customary conditions, including (i) Rhyolite shareholder approval, (ii) applicable governmental and regulatory approvals, including the granting of interim and final orders by the Court of King's Bench of Alberta and the approval of the TSX Venture Exchange, and (iii) RYE meeting minimum working capital requirements.
Advisors
Bennett Jones LLP is acting as legal advisor to Gold Hart. Cassels Brock & Blackwell LLP is acting as legal advisor, and Evans & Evans, Inc. is acting as financial advisor, to Rhyolite.
About Gold Hart COP-P-er's Nessa Gold-COP-P-er-Silver Assets
Gold Hart's Nessa properties sit on the renowned Domeyko Fault of Chile, most famous for hosting the Escondida Copper Mine - now the largest copper mine in the world - which was first staked by Gold Hart co-founder Dr. Jose Frutos in the 1970s. Dr. Frutos recognized and personally staked some of the Nessa claims nearly two decades ago, due to the unique surface alteration - visible from satellite imagery - with high grades on surface and several historic mines which exploited gold, copper and silver at or near surface via pits and shallow tunnels. The historic mines coincide with a pervasive yet intense hydrothermal alteration (silicic-argillic to quartz-sericitic with abundant kaolin in the central part) with a halo of propilitic alteration in the periphery, with disseminated gold-copper-silver mineralization throughout.
Gold Hart recently expanded the Nessa property by 330% (3.3X) from an initial property size of 4,100Ha up to a current land position of 13,500Ha (135km2). The Nessa Complex is just south of the massive Codelco El Salvador - Portrerillos copper mining and smelting complex, one of the oldest copper smelting facilities in the country. Nessa is also surrounded by major miners Newmont, Solaris, JX Nippon, and Anglo American, and sits just northwest of Rio2's Fenix gold deposit and just west of Kinross' La Coipa gold mine.
The Nessa properties were known to host 13 historic artisanal high-grade gold & copper pits, which were mined using mules due to lack of access. Additionally, historic geochemical surveys discovered high grades on surface for gold, copper, and silver, with samples up to 25g/t gold, 3.25% copper, 958g/t silver. However, the Company has now discovered additional copper showings on surface and historic mining pits, and now believes there may be other unknown targets on these assets. Gold Hart recently completed a preliminary geochemical survey and obtained additional high grade samples, including up to 9.7g/t gold, 968g/t silver, and 4.7% copper on surface.
Please refer to the notes regarding quality assurance and quality control measures applied during the execution of the work being reported on, at the end of this disclosure. Please visit the Gold Hart Copper YouTube channel for footage of the road construction and copper oxides at Nessa:
https://www.youtube.com/shorts/ Ax6fOStX72c.
Tolita - FlagshiP- Gold COP-P-er MolY. Silver PorP-hY.IY. Target in Vicuna District - Diamond Drilling Program
Gold Hart geologists - including senior geologists Professor Dr. Jose Frutos, Enrique Viteri, Jonathan Warner, and Rodrigo Diaz Tillerra - carefully designed a 10-hole drill plan in order to optimally test Tolita as a potential gold-copper-molybdenum-silver porphyry target. As prior announced, Gold Hart first attempted to drill target #1 known as DDHTOL01 in March of 2025, but after difficulties were encountered under tight time constraints, the team instead elected to drill DDHTOL02 and DDHTOL05. These holes were approximately 600m each and encountered approximately 360m and 230m of gold, copper, and moly porphyry mineralization, respectively.
Most recently, Gold Hart returned to target #1 DDHTOL01 with a more powerful drill rig and completed a 1.053km drill hole.
Consequently, there await at least another seven highly attractive diamond drill targets identified across the asset area. These targets are supported by a combination of geophysical characteristics, including chargeability and conductivity, strong geological and structural controls as well as coincident geochemical anomalies.
Tolita is a very large target, with an original 2.5km2 geophysical anomaly recently expanded by 76% to 4.5km2.The Tolita gold soil sample geochemical surface halo (an approximation of gold on surface above 0.1g/t) alone is nearly 28Ha and the Tolita property is 3,476Ha equal to approximately 34.8km2.
Furthermore, as recently confirmed in a follow-up geophysical survey, the Tolita geophysical anomaly expands in both size and intensity at depth, which could translate into an enlarging system at depth. Per the third party geophysicist who conducted the survey, "The vertical extent of the steeply dipping conductor that is likely related to a fault is better defined on the two new deep lines (2600N and 452200£). This surprised me, as I had expected resolution similar to the first lines. This would indicate to me, that the probable structure extends very deeply and has a strong contrast in resistivity with the host rock. Because it is conductive, it should act as good conduit for hydrothermal water flow, which should be good news for mineralization. There is confirmation that the alteration system extends to greater depth and may increase in intensity at depth as it is more conductive. Hopefully, the copper and gold grades would increase correspondingly as well."