BULGOLD Discovers the Kopernica Vein System Within the North East Block on the Lutila Gold Project

Toronto, ON. February 10 2026 – BULGOLD Inc. (TSXV: ZLTO) (the “Company” or “BULGOLD”) is pleased to announce that it has received all outstanding assay data relating to the 2025 exploration programme on the Lutila Gold Project (the “Property”). This information has now been reviewed, validated and incorporated into the Company’s database. The Lutila exploration licence covers an area of 32.2km² and is prospective for quartzadularia epithermal gold mineralisation.

1. Highlights

• The Company has recently identified the Kopernica Vein System, which has been mapped, drilled

and sampled across an area measuring 1,000 metres by 500 metres on the western slopes of the North East Block.

• The Kopernica Vein System is focused on the 700-metre long Main Vein, where surface float

samples of hydrothermally brecciated rock and epithermal quartz vein material at the 550mRL have results of up to 2.88 grammes per tonne (g/t) of gold (Au) and 15.8 g/t of silver (Ag).

• Surface mapping has identified several subvertical hanging wall splay veins connected to the

Main Vein, which can be intermittently traced for about 600 meters to the north. In this area, a hydrothermal breccia outcrop in a small creek returned 0.55g/t Au.

• The Company identified the West Vein late in the season, outlining an initial 300 metres of strike

length and results up to 1.19g/t Au and 4.3g/t Ag from an epithermal quartz vein boulder at surface.

• The BULGOLD exploration team initially believed that the Main Vein was subvertical; however,

this is not the case. The vein-structure was encountered during the drilling of KPDD001 at a considerable depth of 498 metres downhole, where an intersection of 6m @ 0.14 g/t Au was recorded within a brecciated chalcedonic quartz vein containing marcasite at the 200mRL.

• Surface mapping, drilling and rock sampling indicate that the Main Vein's “gold window” spans a

250–300 metre vertical range between the 550mRL (average surface rock sample: 0.45g/t Au, 2.9g/t Ag, 670g/t As, 188g/t Sb) and the KPDD001 drill intercept at 200mRL.

• Future drilling at the Main Vein is planned to use drillholes no longer than 250 metres in length,

significantly reducing exploration costs.

•

Drilling at the Horna Klapa target area, located within the Sinter Field, was completed to a target depth of 541.7 metres and failed to intersect any evidence of quartz veining within an upflow zone or evidence for rhyolite dyke activity beneath the ridgeline.

• The Lutila Gold Project is located favourably between two of the largest Au-Ag epithermal vein

systems within the Central Slovak Volcanic Field, the Kremnica gold deposit and the Banska Štiavnica gold-silver ore field, which, collectively, have produced significant amounts of precious metals over many centuries.

• Exploration target: underground, high-grade gold (Au) ± silver (Ag) quartz veins.

Quote from the President & CEO, Mr. Sean Hasson:

“Over 1,000 years of exploration and mining of epithermal vein systems in Central Slovakia demonstrates that, to date, every discovered vein system has contained either gold or silver. The identification of the Kopernica Vein System establishes the Company as a leading candidate for growth and discovery within the prevailing gold market.

Last year’s exploration programme has surpassed expectations by allowing us to delineate the Kopernica Vein System over an initial area of 1,000 metres by 500 metres through surface sampling, mapping, and the first drillhole into the 700-metre long Main Vein. There remains substantial exploration potential within this newly identified vein system which is evidenced by the presence of potential hanging wall splay veins to the Main Vein and the West Vein which is an emerging parallel quartz vein located 200 metres to the west.

KPDD001 was the first hole drilled into the Main Vein, and it intersected the vein deeper than the BULGOLD exploration team initially expected, due to its overall westerly dip. However, this allowed us to determine the geometry of the vein system and establish that the “gold window” likely spans a vertical range of 250-300 metres. This means that the upcoming drillholes designed to confirm the gold potential of the Main Vein can be less than 250 meters deep, saving both time and money, together with the added benefit that the drillhole will also intersect any hanging wall splay veins en route to the Main Vein target.

At the nearby historic epithermal quartz vein deposits of Kremnica and the Kremnica Vein II system, mining operations were conducted over an approximately 400 metre and 200-350 metre vertical window respectively; this effectively shows what the “gold window” potential can be within this part of the Central Slovakia. The "gold window" concept highlights that because epithermal vein systems are not uniformly mineralised, precisely identifying these transient, specific conditions is essential for successful exploration (see Figure 1 on the following page for a graphical representation of the “gold window” concept as applied to the Kopernica Vein System).

Surface rocks are typically composed of hydrothermal breccias, often containing fragments of epithermal quartz veins dislodged from deeper sections of the vein system. In adjacent areas at slightly lower elevations, there is a notable presence of quartz vein boulders and rocks exhibiting well-developed crustiform-colloform textures. The extensive degree of brecciation observed in the surface rocks indicates that the Kopernica Vein System may possess the conditions necessary for a high fluid-flux hydrothermal environment, which generally results from frequent and violent boiling events. In epithermal quartz-adularia vein systems, such boiling processes are widely regarded as the most effective mechanism for the formation of bonanza-grade gold veins.

“Since we started exploration drilling on the Lutila Gold Project 18 months ago we have remained steadfast in adhering to our internal target ranking methodology and efficient allocation of capital. The first targets to be tested were located under Rhyolite Ridge within the Sinter Field, however having now drilled three drillholes for no reward it was clear that a trend was emerging. As such, the Company does not plan to drill any more holes within the Sinter Field in the short to medium term. The current exploration model within the Sinter Field will need to be reassessed by the Company.

The Company exercised its option to acquire the Lutila Gold Project and assumed 100% control of the project 28 months ago. The following day, management met with the Mayor of Lutila to discuss exploration plans and establish connections. Since then, we have continued building lasting relationships in the region, adapting to local operating conditions and regulations, and contributing to the local economy.

The Company is actively assessing various strategies to advance the discovery process on the Lutila Gold Project.”

Figure 1. Cross-section (KPDD001) showing the key geological elements of the Main Vein derived from BULGOLD data together with a schematic indication of where the next proposed drill hole should be drilled into the “gold window”.

2. The Kopernica Vein System - Exploration

The western slopes of the North East Block were the focus for the BULGOLD exploration team during the latter half of 2025. A few historic rock chips from this area had previously returned low levels of gold e.g. 0.47g/t Au, 0.22g/t Au and 0.12g/t Au with arsenic and antimony geochemical support from “brecciated saccharoidal quartz boulders”. The BULGOLD due diligence field visit during 2022 also confirmed the presence and grade of these historic samples but recognised that the textures within these samples were, in fact, weakly developed crustiformcolloform chalcedonic quartz veins.

The objective of the late 2025 exploration programme was to establish where these chalcedonic quartz boulders had originated. The approach taken by the BULGOLD exploration team was to undertake a series of geological traverses commencing at the highest point of the ridgeline and then effectively walking along the contours and then dropping down to the next contour and repeating the exercise. All surface rock float (± outcrop) material was assessed during these traverses which led to the development of the mapping and prospecting framework that is shown in Table 1, and which has become an integral part of the BULGOLD exploration ‘toolkit’ when exploring the North East Block for epithermal quartz veins. Figure 1 shows the distribution of hydrothermally altered rocks across the Kopernica Vein System according to this framework.

Table 1. Detailed field description of the BULGOLD mapping and prospecting framework covering the western slopes of the North East Block and the Kopernica Vein System.

Figure 2. All BULGOLD mapping points (see Table1 for detailed descriptions) across the Kopernica Vein System overlain on LIDAR with 10m contours; the yellow arrows define the KPDD001 cross-section line in Figures 1 and

8. The yellow dashed lines show where the 600mRL contour line sits.

By employing this methodical approach, the BULGOLD exploration team was able to establish the existence of the Kopernica Vein System which is centred on the 700-metre long Main Vein. There remains substantial exploration potential within this newly identified vein system which is evidenced by the presence of potential hanging wall splay veins to the Main Vein and the West Vein which is an emerging parallel quartz vein located 200 metres to the west.

Previous assessment of all rock and drill core, both historic and BULGOLD, within the North East Block has established that gold in rock commences below the 600mRL. The Kopernica Vein System is no exception from this finding and is defined on surface between the 590mRL to the 490mRL.

Additionally, approximately 600m to the north-west of the Main Vein an outcrop of hydrothermal breccia was identified in a small creek which assayed 0.55g/t Au and 200g/t Sb. Abundant hydrothermally altered float rock has been identified within this area directly beneath the andesite rock contact that continues north to host the Kremnica gold deposit. More exploration is required in this area to determine the potential for additional quartz veins.

Historic mining activity appears to be restricted to two areas, both located on the periphery of the currently defined Kopernica Vein System: 1) The “1817 Mine” (underground operation) which is located 400 metres south-east of the Main Vein and just below the 600mRL and strikes north-west towards the Main Vein and 2) The “Old Mine” (small open pit) which is located 500 metres west north-west of the Main Vein at the confluence of two drainages at the 490mRL. Within the area above the Main Vein there appears to be what may be interpreted as ‘exploration test pits’, likely assessing the gold potential of the hydrothermal breccia ± epithermal quartz vein pieces found at surface; their age remains unknown.

The extensive degree of brecciation observed in the surface rocks, particularly above the Main Vein, indicates that the Kopernica Vein System may possess the conditions necessary for a high fluid-flux hydrothermal environment, which generally results from frequent and violent boiling events. In epithermal quartz-adularia vein systems, such boiling processes are widely regarded as the most effective mechanism for the formation of bonanza-grade gold veins.

Table 2 shows all the BULGOLD surface rock samples ≥0.1g/t Au that have been collected within the currently defined Kopernica Vein System.

Figures 3, 4, 5, 6 and 7 show images of the surface float rock that have contributed to the BULGOLD mapping and prospecting framework with a particular focus on the Kopernica Vein System.

Table 2. Kopernica Vein System: All BULGOLD surface rock samples ≥0.1g/t Au (n=39).

Figure 3. Field and slabbed examples of hydrothermal breccia within the Kopernica Vein System (all from the Main Vein area). (A) Hydrothermal breccia containing clasts of brecciated chalcedonic quartz within rhyolite rock; (B) Hydrothermal breccia in drill core 0.14g/t Au, 2,474g/t As, 242g/t Sb (CVDD001; 39-40m); (C) Hydrothermal breccia containing clasts of chalcedonic quartz within rhyolite rock; (D) Hydrothermal breccia containing massive to very coarsely banded quartz vein clasts in a marcasite-rich rock flour matrix, <0.01g/t Au, 4,888g/t As, 353g/t As (95914); (E) Brecciated chalcedonic quartz cross-cut by marcasite-rich hydrothermal breccia veins, 0.83g/t Au, 8.7g/t Ag, 261g/t As, 95.5g/t Sb (95936); (F) Hydrothermal breccia containing a large clast (circled) of crustiformcolloform (with lattice bladed textures) quartz vein, 1.18g/t Au, 4.8g/t Ag, 1,877g/t As, 400g/t Sb (95937).

Figure 4. Slabbed examples of the hydrothermal breccia to epithermal quartz vein transition rock within the Kopernica Vein System. (A) Coarsely banded chalcedonic quartz vein cross-cutting hydrothermal breccia within rhyolite rock, 2.03g/t Au, 9.3g/t Ag, 74.4g/t As, 71g/t Sb (Main Vein: 95933); (B) Chalcedonic quartz veinlets crosscutting hydrothermal breccia, <0.01g/t Au, 97.3g/t As, 119g/t Sb (West Vein: 95939); (C) Lattice bladed (LB) chalcedonic quartz cross-cutting hydrothermal breccia with minor colloform marcasite veinlets, 0.18g/t Au, 463g/t As, 124g/t Sb (Main Vein: 95913); (D) Coarsely banded chalcedonic quartz vein cross-cutting hydrothermal breccia in rhyolite rock, 0.54g/t Au, 2.9g/t Ag, 200g/t As, 195g/t Sb (Main Vein: 95902).

Figure 5. Slabbed examples of epithermal quartz vein rocks within the Kopernica Vein System. (A) Crudely banded chalcedonic quartz within rhyolite rock, <0.1g/t Au, 91.3g/t As, 164g/t Sb (North of Main Vein: 95920), (B) Crustiform-colloform quartz vein with lattice bladed (LB) textures within rhyolite rock, 0.63g/t Au, 4g/t Ag, 20g/t As, 19g/t Sb (Main Vein: 95931), (C) Cockade to crustiform-colloform textures in quartz vein with included fragments of strongly clay altered rhyolite rock, <0.01g/t Au, 79.8g/t As, 103g/t Sb (“Old Mine”: 95928), (D): Crustiformcolloform quartz vein with brecciated margins, yellow circle outlines a small quartz vein fragment, 1.19g/t Au, 4.3g/t Ag, 70.6g/t As, 128g/t Sb (West Vein: 95941).

Figure 6. (A), (B), (C) & (D) Field and slabbed examples of saccharoidal quartz vein (CVQ) pieces exhibiting a coarse banding and commonly found at or above the 600mRL.

Figure 7. (A), (B), (C) & (D) Field examples of massive cryptocrystalline chalcedony (SCV) commonly found above the 600mRL but also within the northern portion of the Kopernica Vein System.