Investee Company Update: TRU Precious Metals
Summary by AI BETAClose X
8 September 2026
Ormonde Mining plc
("Ormonde" or the "Company")
Investee Company Update: TRU Precious Metals
Two new gold-in-soil anomalies identified at Golden Rose
Ormonde Mining plc (AQSE: ORM), the natural resources company with investment exposure to outstanding gold and battery metal exploration assets in Newfoundland, Spain and Scotland, notes the recent highly encouraging update by its 36.3%-owned investee company TRU Precious Metals Corp. (TSXV: TRU, OTCQB: TRUIF) ("TRU"). TRU announced it has identified two new gold-in-soil anomalies nearby the Wood Lake gold zone at the Golden Rose Project ("Golden Rose"), strategically located along the gold deposit bearing Cape Ray - Valentine Lake Shear Zones in Central Newfoundland, and neighbouring Equinox Gold Corp.'s Valentine Mine. Consequently, TRU has staked 394 additional claims along the southern boundary of the Golden Rose licences.
The full announcement from TRU follows below.
Brendan McMorrow, CEO of Ormonde, commented:
"These newly identified gold-in-soil anomalies near Wood Lake, and the associated expansion of the licence area through additional staking, represent another positive step forward for TRU at Golden Rose. The early-season discovery of two coherent anomalous zones so close to the interpreted trace of the Valentine Lake Shear Zone reinforces the scale of the opportunity across this property. We look forward to the results of the ongoing trenching programme as TRU continues to build out its understanding of the district's mineral potential."
TRU PRECIOUS METALS IDENTIFIES NEW GOLD-IN-SOIL ANOMALIES AT GOLDEN ROSE AND STAKES ADDITIONAL CLAIMS EXPANDING LICENSE AREA
Toronto, Ontario - September 8, 2026 - TRU Precious Metals Corp. (TSXV:TRU, FSE:706) ("TRU" or the "Company") is pleased to announce two newly discovered gold-in soil anomalies nearby the Wood Lake gold zone during the 2026 field works program at its Golden Rose Project ("Golden Rose") which is strategically located along the gold deposit bearing Cape Ray - Valentine Lake Shear Zones in Central Newfoundland, and neighbouring the Equinox Gold Corp.'s Valentine Mine. The discovery has led to further investigation including surface trenching that is currently underway.
In light of the increased potential for mineralization to be encountered in close proximity to the interpreted surface trace of the Valentine Lake Shear Zone ("VLSZ")** evidenced by these newly identified areas of anomalous gold-in-soil, the Company has staked an additional 394 claims along the southern boundary of the Golden Rose Licenses.
As highlighted in the news release of June 9, 2026, this year's field season commenced with a program of efficiently gathering detailed and targeted information along the step-out strike extensions of the priority target zones identified during 2025. One of the first targets for attention was the Wood Lake zone.
TRU CEO Steve Nicol commented: "The Company's focus remains on efficiently discovering the full gold and copper potential across the entire Golden Rose Property aiming to identify multiple mineralized zones leading to economic scale. In this light, the identification early in the season of two new extensive and coherent areas of anomalous gold-in-soil is most encouraging with follow-up works having already begun aimed at providing valuable additional information on the potential for these areas of anomalous gold-in-soils to indicate underlying mineralisation."
Wood Lake Background
The Wood Lake mineralized zone was previously drilled providing intercepts which included:*
· 1.26 grams per tonne ("g/t") gold ("Au") over 18.9 metres ("m")
· 1.71 g/t Au over 7.0m
· 1.01 g/t Au over 12.0m
· 1.51 g/t Au over 11.0m (contained within a larger intercept of 0.59 g/t over 38.0m)
A revised conceptual interpretation has recently been developed by the TRU team for the greater Wood Lake area leading to a soil sampling program being completed over the east, and southwest strike extensions of the previously known gold mineralized zone at Wood Lake. The areas sampled in this program have not previously been the subject of any rigorous geochemical sampling program.
Results of laboratory analysis of these samples have now been received and evidence a previously unrecognised extensive area of coherent anomalous gold-in-soil values to the east of Wood Lake ("the Wood Lake East anomaly").
The Wood Lake East anomaly measures some 900m x 450m extending in a roughly east-west orientation and occurs between the Sure Shot showing**, discovered in the 1980s where historic rock samples are reported to have assayed 25.7 g/t Au, and the Hill Top showing**, where historic samples returned assay values up to 2.9 g/t Au. The Wood Lake East anomaly (which remains open to the northeast) lies within the mapped outcrop of the Peter Strides Granitoid Suite close to its contact along the interpreted trace of VLSZ. (Figure 1).
Figure 1: Results of 2026 geochemical (gold-in-soils) sampling program, showing locations of two new gold-in-soil anomalies
Figure 2: Detail of newly discovered gold-in-soil anomaly at Wood Lake East
The Wood Lake East anomaly is currently undergoing further investigation with surface trenching.
A second previously unrecognised area of anomalous gold-in-soil results was identified during the program, to the southwest of Wood Lake ("Wood Lake Southwest anomaly") again in proximity to the interpreted trace of VLSZ (Figure 1). The Wood Lake Southwest anomaly measures approximately 450m x 450m and is located mostly within licenses held in a Joint Venture Arrangement ("JV") with TSX.V listed Quadro Resources Ltd. TRU holds a 51% interest in the JV. Appropriate follow-up works are under review.
Soil Sampling Program
These soil sample results constitute early exploration works, providing information which is preliminary in nature and not conclusive evidence of the likelihood of the occurrence of a mineral deposit at the location. Soil sample results discussed will not support mineral resource estimation, mining or metallurgical studies. No drilling activities were undertaken as a part of the reported soil sampling program.
Soil samples were collected on variable grid patterns to suit local conditions (including 25m by 100m, 25m by 250m, and 25m by 500m) using a conventional hand auger tool following TRU standard procedures for the collection of soil samples. Sample stations are located using a handheld GPS.
The targeted horizon for sampling within the soil profile at each sample location is the "B horizon", with sample depths typically varying between 20cm and 50cm.
Individual sample weights collected were typically one kilogram depending on the abundance of material.
Some designed sampling locations in the program were left unsampled due to absence of suitable soil profile.
Due to the preliminary exploration nature of the soil sampling program, and the large number of soil samples taken (865 samples plus 2.5% QA/QC samples) summary statistics only are provided for the results of the soil sampling program being reported. See Table 1.
For the purposes of interpreting soil sample results TRU considers a value of 10ppm Au or greater in a soil sample as being anomalous.
Table 1: 2026 Soil sampling program - Summary results in parts per billion ("ppb").
QA/QC Statement
During all exploration sampling and analysis works on its Golden Rose Project TRU maintains a strict quality assurance program, implements a quality control program, and has a sample security procedure in place. These are tailored as necessary to be appropriate to the types of samples being collected.
Samples reported on in this News Release comprised geochemical (soils) samples taken by a third-party expert contracting field team under the supervision of the TRU Project Geologist. The samples were each packed in tie-sealed paper bags, uniquely numbered at the site of sampling and delivered to the TRU onsite camp by the TRU geological field crews.
QA/QC samples, comprising blanks and certified standards were inserted into the sample runs prior to samples being loaded into rice sacks, in accordance with TRU Standard Operating Procedure for QAQC sample selection and insertion. Insertion rates for blanks and certified standards were approximately 2.5% (each) of all samples submitted for assay.
Bagged samples for analysis were packed into tie-locked rice sacks, and transported by the TRU Project Geologist, or appointed representative, directly to the Eastern Analytical Laboratory in Springdale, NL.
Chemical analysis of soil samples was carried out at Eastern Analytical Laboratories in Springdale NL (403 Little Bay Rd, Springdale, NL, A0J 1T0) a commercial geoscience laboratory that is ISO 17025 accredited (for Fire Assay Au, and for multi-acid ore grade assays in Cu, Pb, Zn, Ag, Fe, and Co), and completely independent of TRU.
Samples were analysed using Fire Assay (30g) with Atomic Absorption Spectrometry (AAS) finish for gold values.
Data Verification Statement
Prof. G. Earls, EurGeol PGeo, FSEG, an independent Qualified Person under National Instrument 43-101 - Standards of Disclosure in Mineral Projects ("NI 43-101 Standards")) has independently checked and verified the data disclosed including sampling, analytical, and test data underlying the information or opinions contained in this news release.
Data verification included:
· Review of all Standard Operating Procedures
· Batch checking of analytical data to ensure no input or translation errors
· Detailed review of all QA/QC results
No material flaws were detected during the data verification exercise.
Other Corporate Matters
Shareholder Meeting Results
The Company is reporting the voting results from the Annual Meeting held on July 16, 2026. Shareholders approved all items of business, including electing each of the directors nominated by management, namely, Manish Kshatriya, Steve Nicol, Steven Agnew and Brian Timmons. The shareholders also approved: the reappointment of McGovern Hurley LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year and the Company's stock option plan. A copy of the stock option plan was included in the Information Circular which has been filed on SEDAR+.
Stock Option Grants
The Company also announces that, subject to regulatory approval, today it has granted an aggregate of 8,650,000 incentive stock options (the "Options") to certain of its directors, officers, employees and consultants in accordance with the Company's stock option plan. The Options vest immediately and are exercisable at a price of $0.05 per share for a period of three years. The Options are subject to a 4-month hold period from the date of issuance in accordance with stock exchange policies.
Qualified Person Disclosure
Joel Cranford, P.Geo., Project Geologist for TRU, and a Qualified Person under NI 43-101, has prepared or supervised the preparation of the scientific and technical information contained in this news release and has approved its disclosure.
* Further information can be found in the company News Releases dated Jan 12, 2023, Mar 03, 2022, and Apr 07, 2022
** Further information can be found in "NI 43-101 Technical Report on the Golden Rose Project, Newfoundland-Labrador, Canada" dated Oct 11, 2023 (with effective date of Oct 11, 2023), prepared by D. Roy Eccles (MSc, P. Geol, P. Geo) of Apex Geoscience Ltd and Stefan Kruse (PhD., P. Geo) of Terrane Geoscience Inc, available on the Company's website.
About TRU Precious Metals Corp.
TRU (TSXV:TRU, FSE:706) is on a mission to build long-term shareholder value through prudent natural resource property development. The company's flagship project is the Golden Rose Project a regional-scale 297.50 km2 land package in Central Western Newfoundland (includes a 33.25 km2 package of claims over which TRU has a 51% interest) which straddles a 45 km strike length along the gold deposit-bearing Cape Ray - Valentine Lake Shear Zone, directly between Equinox Gold Corp's Valentine Project and AuMEGA Metals Ltd' Cape Ray Gold Project. TRU is currently focused on efficiently discovering the full gold and copper potential at Golden Rose, targeting continuity along this proven gold bearing trend. The Golden Rose Project is currently subject to an earn-in agreement (the "Earn-In Agreement") with TSX-listed Eldorado Gold Corporation ("Eldorado"), whereby Eldorado has the option to fund CAD15.25M in cash payments and exploration expenditures over 5 years to earn an 80%-interest in the Golden Rose project. Please refer to the Company's July 30th, 2024 press release for further details of the Earn-In Agreement.
TRU is approximately 36%-owned by European strategic investor Ormonde Mining plc (AQSE:ORM).
For further information about TRU, please contact:
Steve Nicol
Chief Executive Officer
TRU Precious Metals Corp.
Phone: 1-855-760-2TRU (2878)
Email: ir@trupreciousmetals.com
To connect with TRU via social media, below are links:
Acknowledgement
TRU would like to thank the Government of Newfoundland and Labrador for financial support through the Junior Exploration Assistance Program and the Federal Government for its critical mineral assistance funding for the exploration activities at Golden Rose.
Forward Looking Information
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such statements include, but are not limited to, statements regarding the interpretation of drill results, potential strike and width continuity, planned exploration programs and their timing, the significance of drilling results, the assessment of results for future drill program design, the continuation of mapping and ground truthing programs, the potential for down dip continuity of mineralized zones, the expansion of drill target pipelines, and the Company's exploration objectives and business plans. Forward-looking statements are based on assumptions, estimates, opinions and analysis made by management in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. These assumptions include, among other things, continuity of geological structures and grade along strike and at depth, the availability of exploration financing, timely receipt of permits, access to equipment and personnel, the successful completion of ongoing exploration programs, the ability to advance quality drill targets, continued access to the Golden Rose Project site, and stable commodity prices.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements, or developments to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: the speculative nature of mineral exploration and development; uncertainty in the interpretation of drill results and geological data; environmental, permitting and regulatory risks; operational risks inherent in exploration activities; changes in commodity prices and market conditions; competition for mineral properties and qualified personnel; weather and seasonal access limitations; equipment availability and operational delays; currency fluctuations; and other risks.
Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because the Company can give no assurance that they will prove to be correct. TRU undertakes no obligation to update any forward-looking statements except as required by applicable securities laws.
Enquiries:
Ormonde Mining plc
Brian Timmons, Chairman / Brendan McMorrow, CEO
Tel: via Vigo Consulting
Vigo Consulting (Investor Relations)
Ben Simons / Fiona Hetherington
Tel: +44 (0)20 7390 0230
AlbR Capital Limited (Aquis Corporate Adviser)
David Coffman
Tel: +44 (0)20 7469 0930
About Ormonde Mining
Ormonde is a natural resources company delivering exposure to outstanding gold and battery metal exploration projects. Ormonde's portfolio comprises:
· A 36.3% equity interest in TRU Precious Metals (TSXV: TRU), which is exploring for gold and copper in the highly prospective Central Newfoundland Gold Belt in Canada, funded by Eldorado Gold Corporation (NYSE: EGO, TSE: ELD - US$5 billion market cap) which has optioned the project
· A 100% interest in two gold exploration licences in the Zamora province in western Spain, for which the Company is advancing value enhancing options
· An 18.9% equity interest in Peak Nickel Limited, which is exploring for battery metals at the Rodburn Project in Aberdeenshire with indications of a significant deposit, fully funded by Winshear Gold Corp. (TSXV: WINS) which has optioned the project
Ormonde's shares are quoted on the Aquis Stock Exchange Growth Market under the symbol AQSE: ORM.
For more information, visit the Company's website at www.ormondemining.com.
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