Kestrel Partner Centerra Drilling Results at QCM Gold Property
NEWS RELEASE
Kestrel Partner Centerra Drilling Results at QCM Gold Property
Calgary, AB, October 10, 2025: Kestrel Gold Inc. (“Kestrel”, TSX-V: KGC) provides an update on ongoing drilling program by Centerra Gold Inc. (“Centerra”, TSX:CG or NYSE:CGAU) at Kestrel’s 100% owned QCM property located in the Manson-Germanson area of central British Columbia.
The QCM project is comprised of 8,729 hectares, centered over a 15-kilometre NW-SE striking segment of the Manson Fault Zone. Centerra holds an exclusive option to earn a 75% interest in QCM by making cash payments totalling $900,000 and completing $6,500,000 in exploration work, which must include a minimum of 13,500 metres of drilling, by May 7th, 2029.
A total of 7,276 m of diamond drilling was completed between 25 May- 29 September. Drilling focused on two areas of interest, located approximately 7 km apart. Drilling at the Main Zone was designed to validate historical results, test for preferred vein orientations, and step out along strike. Sixteen holes (4,455 m) were completed at the Main Zone (Figure 1; Table 1). Drilling at the 14 Vein was designed to step out along strike from historical results and test additional anomalies. Fourteen holes (2,821 m) were completed at the 14 Vein (Figure 2; Table 1). Partial assay results are now available for the Main Zone. Remaining results from the Main Zone and 14 Vein will be the subject of an upcoming news release once available. Drilling continues with up to an additional 2,500 m to be completed following up on new results at the Main Zone.
Figure 1. Main Zone 2025 drill hole locations
Figure 2. 14 Vein 2025 drill hole locations
Table 1. Drill collar details
| Hole ID | Zone | Easting | Northing | Elev. (m) | Azimuth (GN) | Dip | Depth (m) |
|---|---|---|---|---|---|---|---|
| QCM-25-001 | Main | 400032 | 6172606 | 1171 | 56.8 | -49.8 | 200 / 245.00 |
| QCM-25-002 | Main | 399957 | 6172671 | 1163 | 53.5 | -50.1 | 200 / 242.00 |
| QCM-25-003 | Main | 399775 | 6172593 | 1192 | 90.0 | -60.0 | 350 / 407.00 |
| QCM-25-004 | Main | 399772 | 6172590 | 1192 | 2.4 | -45.5 | 350 / 404.00 |
| QCM-25-005 | Main | 399951 | 6172453 | 1235 | 3.8 | -46.6 | 300 / 378.50 |
| QCM-25-006 | Main | 399953 | 6172455 | 1235 | 89.8 | -45.4 | 300 / 330.00 |
| QCM-25-007 | Main | 400343 | 6172029 | 1109 | 358.2 | -50.5 | 200 / 192.00 |
| QCM-25-008 | Main | 400344 | 6172030 | 1109 | 88.4 | -60.3 | 200 / 201.00 |
| QCM-25-009 | Main | 400195 | 6172184 | 1136 | 358.4 | -45.2 | 250 / 255.00 |
| QCM-25-010 | Main | 400270 | 6172287 | 1169 | 357.0 | -50.5 | 250 / 252.00 |
| QCM-25-011 | Main | 400319 | 6171920 | 1086 | 88.8 | -60.2 | 300 / 300.00 |
| QCM-25-012 | Main | 400464 | 6171941 | 1102 | 0.3 | -60.0 | 250 / 282.00 |
| QCM-25-013 | Main | 400140 | 6172584 | 1153 | 53.2 | -59.6 | 200 / 201.00 |
| QCM-25-014 | Main | 399748 | 6172728 | 1147 | 39.4 | -45.1 | 230 / 231.00 |
| QCM-25-015 | Main | 399650 | 6172725 | 1151 | 37.5 | -44.9 | 270 / 276.00 |
| QCM-25-016 | Main | 399588 | 6172836 | 1127 | 38.6 | -45.0 | 250 / 255.00 |
| QCM-25-017 | 14 Vein | 396166 | 6179106 | 1085 | 43.0 | -44.8 | 200 / 201.00 |
| QCM-25-018 | 14 Vein | 395968 | 6179272 | 1077 | 42.5 | -45.1 | 175 / 175.00 |
| QCM-25-019 | 14 Vein | 396042 | 6179348 | 1076 | 43.8 | -45.1 | 175 / 175.00 |
| QCM-25-020 | 14 Vein | 395970 | 6179400 | 1056 | 45.0 | -45.0 | 175 / 177.00 |
| QCM-25-021 | 14 Vein | 395969 | 6179399 | 1055 | 44.6 | -79.8 | 175 / 174.00 |
| QCM-25-022 | 14 Vein | 396217 | 6179376 | 1081 | 43.3 | -44.5 | 150 / 150.00 |
| QCM-25-023 | 14 Vein | 396239 | 6179313 | 1078 | 44.9 | -44.9 | 150 / 116.00 |
| QCM-25-024 | 14 Vein | 396218 | 6178931 | 1082 | 44.4 | -39.7 | 200 / 201.00 |
| QCM-25-025 | 14 Vein | 395931 | 6179235 | 1073 | 43.3 | -46.5 | 275 / 300.00 |
| QCM-25-026 | 14 Vein | 395931 | 6179235 | 1073 | 43.7 | -62.7 | 325 / 325.00 |
| QCM-25-027 | 14 Vein | 395908 | 6179319 | 1073 | 43.4 | -45.3 | 175 / 175.00 |
| QCM-25-028 | 14 Vein | 395904 | 6179480 | 1025 | 45.6 | -70.2 | 225 / 225.00 |
| QCM-25-029 | 14 Vein | 395904 | 6179480 | 1025 | 43.3 | -44.7 | 175 / 195.00 |
| QCM-25-030 | 14 Vein | 395900 | 6179950 | 954 | 44.3 | -43.4 | 150 / 216.00 |
Drilling Results
In the Main Zone, quartz veins are concentrated within interbedded tuffaceous volcanic rocks and greywackes, which dip to the southwest. Gold bearing intervals are associated with albite-sericitecarbonate-quartz-pyrite alteration. The mineralized trend is fault bound to the southeast, but open down-dip to the southwest and along strike of bedding to the northwest. The mineralized trend runs NW-SE in map view, however true widths of the individual mineralized zones for each hole have not been calculated. Reported intervals in Table 2 are downhole lengths. Results are highlighted by hole QCM-25-006 which returned 137.00 m at 0.522 g/t Au from 136.00 m, confirming historical assay results from the Main Zone. This interval includes a quartz vein bearing visible gold between 125.72 m and 126.05 m which returned 3.68 g/t Au over 1 m from 125.5 m.
Table 2. Partial 2025 drill results from the Main Zone
| Drill Hole | Target | From (m) | To (m) | Length | Au | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Zone | (m) | ppm | |||||||||||
| QCM-25- | Main Zone | Main Zone | 15.20 | 29.50 | 14.30 | 0.972 | |||||||
| 001 | |||||||||||||
| Including | 16.70 | 29.50 | 12.80 | 1.046 | |||||||||
| 35.50 | 38.50 | 3.00 | 0.234 | ||||||||||
| 53.80 | 87.50 | 33.70 | 0.236 | ||||||||||
| Including | 60.90 | 61.90 | 1.00 | 2.307 | |||||||||
| 101.25 | 128.00 | 26.75 | 0.309 | ||||||||||
| Including | 114.00 | 115.00 | 1.00 | 1.614 | |||||||||
| And | 126.00 | 127.00 | 1.00 | 1.603 | |||||||||
| 163.90 | 171.90 | 8.00 | 0.140 | ||||||||||
| QCM-25- 003 | QCM-25- | Main Zone | 8.00 | 48.00 | 40.00 | 0.376 | |||||||
| 003 | Including | 17.00 | 18.00 | 1.00 | 1.256 | ||||||||
| And | 39.00 | 41.00 | 2.00 | 2.465 | |||||||||
| 56.00 | 57.00 | 1.00 | 13.6 | ||||||||||
| 65.00 | 96.00 | 31.00 | 0.381 | ||||||||||
| Including | 68.00 | 70.00 | 2.00 | 1.136 | |||||||||
| And | 80.00 | 81.00 | 1.00 | 2.296 | |||||||||
| And | 95.00 | 96.00 | 1.00 | 1.03 | |||||||||
| 129.00 | 132.00 | 3.00 | 0.372 | ||||||||||
| 139.00 | 171.00 | 32.00 | 0.254 | ||||||||||
| 184.00 | 221.00 | 37.00 | 0.22 | ||||||||||
| Including | 209.87 | 211.00 | 1.13 | 1.13 | |||||||||
| 234.00 | 239.00 | 5.00 | 0.439 | ||||||||||
| 248.00 | 289.00 | 41.00 | 0.228 | ||||||||||
| Including | 248.00 | 249.00 | 1.00 | 1.082 | |||||||||
| 294.01 | 298.97 | 4.96 | 0.176 | ||||||||||
| 303.00 | 314.00 | 11.00 | 0.126 | ||||||||||
| 375.00 | 386.00 | 11.00 | 0.254 | ||||||||||
| Including | 381.00 | 382.00 | 1.00 | 1.323 | |||||||||
| QCM-25- 004 | Main Zone | 23.00 | 26.00 | 3.00 | 0.273 | ||||||||
| 32.00 | 44.00 | 12.00 | 0.129 | ||||||||||
| 56.00 | 147.00 | 91.00 | 0.245 | ||||||||||
| Including | 115.00 | 116.00 | 1.00 | 1.086 | |||||||||
| And | 133.00 | 134.00 | 1.00 | 1.105 | |||||||||
| 155.00 | 205.00 | 50.00 | 0.301 | ||||||||||
| Including | 163.00 | 164.00 | 1.00 | 1.691 | |||||||||
| And | 172.00 | 173.00 | 1.00 | 1.344 | |||||||||
| And | 174.00 | 175.00 | 1.00 | 1.518 |
| And | 204.00 | 205.00 | 1.00 | 1.174 | ||||||||
| 213.00 | 216.50 | 3.50 | 0.317 | |||||||||
| 222.00 | 227.00 | 5.00 | 0.218 | |||||||||
| 235.00 | 239.00 | 4.00 | 0.172 | |||||||||
| 245.00 | 256.00 | 11.00 | 0.317 | |||||||||
| Including | 249.00 | 250.00 | 1.00 | 1.128 | ||||||||
| 265.00 | 271.00 | 6.00 | 0.248 | |||||||||
| 299.00 | 307.00 | 8.00 | 0.126 | |||||||||
| 341.00 | 344.00 | 3.00 | 0.115 | |||||||||
| QCM-25- | Main Zone | 87.00 | 135.00 | 48.00 | 0.823 | |||||||
| 005 | 87.00 | 135.00 | 48.00 | 0.823 | ||||||||
| Including | 93.00 | 95.00 | 2.00 | 1.393 | ||||||||
| And | 103.00 | 104.00 | 1.00 | 1.386 | ||||||||
| And | 110.00 | 125.00 | 15.00 | 1.57 | ||||||||
| And | 131.00 | 134.00 | 3.00 | 1.329 | ||||||||
| 139.32 | 149.00 | 9.68 | 0.292 | |||||||||
| 154.50 | 162.00 | 7.50 | 0.344 | |||||||||
| 169.00 | 172.00 | 3.00 | 0.518 | |||||||||
| Including | 170.00 | 171.00 | 1.00 | 1.218 | ||||||||
| 189.00 | 247.94 | 58.94 | 0.39 | |||||||||
| Including | 206.95 | 207.90 | 0.95 | 1.089 | ||||||||
| And | 219.00 | 223.00 | 4.00 | 1.083 | ||||||||
| And | 226.00 | 227.00 | 1.00 | 1.093 | ||||||||
| 255.00 | 272.88 | 17.88 | 0.3 | |||||||||
| Including | 265.00 | 266.00 | 1.00 | 1.508 | ||||||||
| 277.03 | 299.00 | 21.97 | 0.257 | |||||||||
| Including | 297.00 | 297.87 | 0.87 | 1.215 | ||||||||
| 303.02 | 332.00 | 28.98 | 0.153 | |||||||||
| QCM-25- 006 | QCM-25- | Main Zone | Main Zone | 67.00 | 69.00 | 2.00 | 13.027 | |||||
| 006 | 123.00 | 128.00 | 5.00 | 1.142 | ||||||||
| Including | 125.20 | 127.00 | 1.80 | 2.815 | ||||||||
| 136.00 | 273.00 | 137.00 | 0.522 | |||||||||
| Including | 137.00 | 140.00 | 3.00 | 1.951 | ||||||||
| And | 148.00 | 158.00 | 10.00 | 1.133 | ||||||||
| And | 163.00 | 167.00 | 4.00 | 1.618 | ||||||||
| And | 179.00 | 181.00 | 2.00 | 2.521 | ||||||||
| And | 194.00 | 198.00 | 4.00 | 1.3 | ||||||||
| And | 230.00 | 231.00 | 1.00 | 2.107 | ||||||||
| And | 238.00 | 239.00 | 1.00 | 1.116 | ||||||||
| And | 253.00 | 254.00 | 1.00 | 1.209 | ||||||||
| 278.83 | 284.00 | 5.17 | 0.153 | |||||||||
| 310.00 | 314.00 | 4.00 | 0.119 | |||||||||
| 319.00 | 323.00 | 4.00 | 0.105 | |||||||||
| QCM-25- 007 | Main Zone | 50.00 | 53.42 | 3.42 | 0.142 | |||||||
| 75.00 | 82.00 | 7.00 | 0.133 | |||||||||
| 89.00 | 101.00 | 12.00 | 0.525 |
| Including | 90.00 | 91.00 | 1.00 | 1.953 | |||||||
| 106.00 | 127.00 | 21.00 | 0.133 | ||||||||
| 135.00 | 156.00 | 21.00 | 0.211 | ||||||||
| Including | 149.00 | 150.00 | 1.00 | 1.148 | |||||||
| QCM-25- 008 | Main Zone | 55.00 | 81.00 | 26.00 | 0.245 | ||||||
| Including | 60.00 | 61.00 | 1.00 | 2.009 | |||||||
| 86.00 | 90.00 | 4.00 | 0.248 | ||||||||
| QCM-25- 010 | Main Zone | 49.00 | 105.00 | 56.00 | 0.301 | ||||||
| Including | 66.00 | 67.00 | 1.00 | 1.211 | |||||||
| And | 85.00 | 87.00 | 2.00 | 1.75 | |||||||
| 111.00 | 139.00 | 28.00 | 0.232 | ||||||||
| QCM-25- | Main Zone | 85.00 | 85.00 | 90.00 | 90.00 | 5.00 | 5.00 | 0.328 | 0.328 | ||
| 011 | |||||||||||
| QCM-25- 014 | QCM-25- | Main Zone | 20.00 | 55.59 | 35.59 | 0.196 | |||||
| 014 | 70.00 | 109.00 | 39.00 | 0.244 | |||||||
| 123.00 | 153.00 | 30.00 | 0.154 | ||||||||
| 191.00 | 214.00 | 23.00 | 0.194 | ||||||||
| Including | 191.00 | 192.00 | 1.00 | 1.6 |
Quality Assurance/Quality Control and Sampling Procedures
One-meter-long intervals of half-split NQ core were sampled along the entire length of the holes. Core was split along its length by hand with a diamond blade rock saw. Samples were sent to Bureau Veritas, an independent laboratory in Vancouver B.C. where analytical results were obtained using FA430, a fire assay method for gold. Standards, blanks, field duplicates (quarter core), and crush duplicates were inserted into the sample sequence at a rate of approximately one QA/QC sample for every ten samples submitted to the lab. An initial review of the drilling, sampling and assaying procedures did not recognize any factors that would materially affect the accuracy or reliability of the assay data disclosed.
Quality assurance in the field was provided by the operator Centerra during drilling. The Kestrel QP was on-site 21-24 July.
Pat Lynch, President and CEO of Kestrel, states: “We are excited that Centerra continued drilling into October to infill at the Main Zone further testing QCM potential. Drilling at QCM’s Main Zone returned encouraging results as the numbers dictate. The 14 Vein drilling results and additional drilling at the Main Zone will be made available as soon as we can return them to you”.
Qualified Person
Greg Lynch P.Geo., a Qualified Person as defined by National Instrument 43-101 who is also a director of the corporation, has reviewed and approved the technical information contained in this news release.
About Kestrel Gold
Kestrel Gold Inc. is an exploration company headquartered in western Canada and focused on the Canadian Cordillera. Kestrel has earned a 100% interest, subject to a 2% NSR royalty with buydown provisions, in the QCM Property which is an orogenic gold target located in the Manson- Germanson placer district. Kestrel has also earned a 100% interest, subject to a 2.5% NSR royalty with buydown provisions, in the KSD Property which is an orogenic gold target located in the Yukon portion of the Tintina Gold Belt. Kestrel is listed on the TSX Venture exchange under the symbol KGC. Readers are encouraged to refer to the Corporation’s website “www.kestrelgold.com” for further information.
Forward-Looking Statements
The information and statements in this news release contain certain forward-looking information. This forward-looking information relates to future events or the Corporation’s future performance including exploration activity that could take place on the Corporation’s properties or projects. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. The Corporation’s forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking information.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information contact:
Pat Lynch, President and CEO Office: (403) 660-3329 Email: [email protected]