AuMega Metals Completes Initial Diamond Drilling Program at Isle aux Morts Granite and Cape Ray West

11:41 AM EDT, 09/23/2026 (MT Newswires) -- AuMega Metals (AUM.V) completed its initial diamond drilling program at the Isle aux Morts Granite (IAMG) and adjoining Cape Ray West target area along the Cape Ray Shear Zone in Newfoundland and Labrador, it said Wednesday. The program included initial drill testing of several geological concepts, and the company completed initial diamond drilling at the IAMG and Cape Ray West, with nine holes totaling approximately 2,087 meters drilled, it said. The program also included an extensional drill hole at Window Glass Hill and the first hole into the Early Bird target, a new structurally controlled gold target, said the company. AuMega Metals has mobilized the drill rig to Bunker Hill, where drilling has already begun, it added. The company expects to return to drilling Cape Ray in mid-fourth quarter of 2026 for follow-up drilling, the company added. "We now look forward to receiving the assay results and integrating them with our geological, geophysical and geochemical datasets to refine the next phase of drilling," said Chief Executive Officer Sam Pazuki. "In the meantime, the rig has moved to Bunker Hill, where we are testing a pipeline of high-priority gold and polymetallic targets across another underexplored part of our extensive land package." The company's shares were last seen down CA$0.005 or 12.5% to CA$0.035 on the TSX Venture Exchange.