Dundee Reports That Shovelnose Continues to Deliver High-Grade Results as Resource Drilling Nears Completion and Pre-Feasibility Work Accelerates

New results include 37.89 meters grading 5.29 g/t gold and 14.0 meters grading 13.09 g/t gold, as Dundee-funded technical programs advance the project toward a resource estimate and pre-feasibility study

TORONTO, Sept. 22, 2026 (GLOBE NEWSWIRE) — Dundee Corporation (TSX: DC.A) (“Dundee” or the “Corporation”) is pleased to report the sixth batch of assay results from ongoing resource infill drilling at Westhaven Gold Corp’s (“Westhaven”) South Zone gold and silver deposit on the Shovelnose gold property in southern British Columbia. The 35,000m infill program continues to be supported by four drills and is on track for completion by the end of September at which point the current 15,000m exploration drilling program will increase from one to four drills. Additionally, field activities have been expanded with initiation of a CDN$4,000,000 sonic drilling program intended to advance geotechnical and hydrogeology investigations in support of the South Zone pre-feasibility study (PFS), targeting completion in H2 2027.

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“The consistency of these drill results continues to support our high conviction in the quality of the South Zone deposit.” said Jonathan Goodman, President and CEO of Dundee Corporation. “Importantly, the program is now transitioning from resource definition to exploration as well as the technical work required to support development of the mine. Dundee’s capital is intended to accelerate that progression, and we are encouraged by the pace at which the Westhaven Dundee Joint Venture is advancing the project toward an updated resource estimate and pre-feasibility study.”

On February 23, 2026, the Corporation completed a strategic earn-in agreement with Westhaven, whereby Dundee may earn up to a 60% interest in Westhaven’s four Spences Bridge Gold Belt properties through up to CDN$85,000,000 in staged project expenditures. Under the first phase, Dundee has committed a minimum of CDN$30,000,000, inclusive of a fully funded 50,000m drill program at Shovelnose, which is funding the activities outlined in this news release and is expected to continue through the remainder of 2026.

Assay results from the ongoing 35,000m resource infill drilling program at the South Zone deposit continue to show excellent continuity of mineralization in each of Vein Zones 1, 2 and 3. All Assay Results related to the additional 13 infill drill holes are reported in Table 1, bringing the total number of reported drillholes to 72. For previously reported assay results from the South Zone mineral resource drilling program, please refer to the Corporation’s press releases dated May 7, 2026 , May 26, 2026 , July 7, 2026 , July 28, 2026 and August 20, 2026 . The resource drilling program has been designed to infill the deposit at nominal 25m centres with results to be included in an updated mineral resource estimate to support a PFS targeting completion in H2 2027. To date, 109 drill holes (34,265m) have been completed, with 6 holes remaining to completion of the program.