Stardust Set to Begin Two Drill Programs at McGarry: Near-Surface Gold Along Strike from Kerr-Addison and a District-Scale Discovery Target at Depth
Highlights
Near-surface drill program to commence in early August, targeting multiple shallow gold zones along both the Cadillac Break and the largely untested Armistice Fault, immediately adjacent to the historic Kerr-Addison Mine, which produced more than 11 million ounces of gold at approximately 9.1 g/t Au.1
Drilling designed to test near-surface mineralization analogous to the broad shallow gold system2 currently being delineated by Cadillac Mines (formerly Gold Candle) at Kerr-Addison. The two projects share the same geology, structures and alteration across a common boundary, with clear potential for operational synergies as both advance.
Ambient Noise Tomography ("ANT") survey now underway to refine the Company's district-scale deep magnetotelluric ("MT") anomaly, with drilling of the resulting high-priority targets at depth expected to begin in September.
McGarry sits at the centre of a district attracting major new investment, with Cadillac Mines advancing Kerr-Addison immediately to the north and Agnico Eagle developing its Upper Beaver gold-copper project in the same camp.
- Together, the two drill programs give Stardust multiple discovery opportunities from surface to depths greater than 1,000 metres.
Toronto, Ontario--(Newsfile Corp. - July 13, 2026) - Stardust Metal Corp. (CSE: ZIGY) ("Stardust" or the "Company") is pleased to announce that two drill programs are commencing at its McGarry Project in Kirkland Lake, Ontario. A near-surface drill campaign begins in early August, followed by drilling of the Company's large geophysical target at depth upon completion of the ANT survey.
McGarry occupies multiple strategic positions along the Cadillac Break immediately contiguous with Cadillac Mines Corporation's (formerly Gold Candle) Kerr-Addison Project. The historic Kerr-Addison Mine produced more than 11 million ounces of gold at an average grade of approximately 9.1 g/t Au1, and recent drilling by Cadillac Mines has outlined broad zones of shallow gold mineralization adjacent to Stardust's property boundary2, highlighting the potential for the mineralized system to continue onto the McGarry Project. The district is also attracting significant new development capital, with Agnico Eagle advancing its Upper Beaver gold-copper project toward production in the same camp, underscoring the strategic value of Stardust's land position.
During recent geological mapping and field reconnaissance, Stardust's technical team identified extensive carbonate-altered ultramafic rocks across several areas of the property. These observations, together with historical drilling and recent results from the adjacent Kerr-Addison Project, prompted the Company to expand its 2026 exploration program to include a dedicated shallow drill campaign in addition to the previously announced deep exploration initiative.
"Recent field work identified compelling near-surface opportunities at McGarry, and one of the advantages of being a nimble exploration company is that we can act on new information quickly. Our shallow targets sit directly along strike from Kerr-Addison and share its geology, while the ANT survey is sharpening one of the most exciting untested deep targets in the Kirkland Lake camp. We believe McGarry has the potential to host a large gold system, and with drills turning on two fronts we are working systematically to both delineate and discover," said Janet Meiklejohn of Stardust Metal.
Near-Surface Drill Program
The first phase of the Company's exploration program is expected to commence in early August and will focus on evaluating several shallow gold targets distributed along both the Cadillac Break and the Armistice Fault.
The program reflects the Company's belief that McGarry has the potential to host both near-surface and further underground gold mineralization. Recent drilling by Cadillac Mines has demonstrated broad zones of shallow mineralization immediately north of the McGarry property, while historical mining and drilling on McGarry confirm the presence of multiple shallow gold occurrences that remain largely untested using modern exploration concepts. The shared boundary, common geology and proximity of established infrastructure also create the potential for operational synergies between the two projects as they advance.
Figure 1: Location of Three Near-Surface Drill targets
Three priority target areas have been identified for the initial drill campaign.
1. Barber-Larder Trend
Drilling will test the eastern and western strike extensions of the historical Barber-Larder open pit, where historical mining outlined shallow gold mineralization averaging approximately 4.1 g/t Au that remains open in both directions. The program is designed to determine whether the mineralized trend extends beyond the limits of previous mining, evaluate its potential for expansion as a near-surface open-pit target, and establish the continuity of the mineralized system between the Barber-Larder and McGarry deposits both along strike and at depth.
The Barber-Larder and McGarry deposits share many of the same geological characteristics. Both are hosted within steeply dipping, strongly altered volcanic and sedimentary rocks, with gold mineralization closely associated with carbonate alteration and quartz veining. Importantly, both systems demonstrate significant vertical continuity. While mining at Barber-Larder was limited to shallow depths, historical drilling has intersected gold mineralization to at least 600 metres vertically. Similarly, underground drilling at McGarry has confirmed gold mineralization to depths of approximately 5,600 feet (1,700 metres). The Company believes these similarities support the potential for a continuous mineralized system extending between the two areas.
2. Kerr-Addison Extension Target
The Eastern Boundary Target is a highly prospective intrusion-hosted gold target located immediately adjacent to Cadillac Mines' Kerr-Addison Project. Geological mapping indicates strong similarities to the Kerr-Addison deposit, with mineralization hosted within altered diorite and gabbro dykes emplaced along the Cadillac-Larder Lake Break. Gold mineralization is associated with intense quartz-carbonate veining, carbonate alteration and pyrite-bearing quartz-calcite stringers, consistent with the geological setting of the adjacent Kerr-Addison system.
Recent drilling by Cadillac Mines has outlined broad zones of shallow gold mineralization immediately north of the McGarry property boundary. Stardust's drilling is designed to determine whether this shallow mineralized system continues southward onto the McGarry Project and to evaluate the continuity of the broader Kerr-Addison gold system across the shared property boundary.
3. Armistice Fault Corridor
The Armistice Fault represents one of the least explored structural corridors on the McGarry Project and is interpreted to be an important control on the westward and down-plunge continuation of the Kerr-Addison gold system. The structure marks a major geological boundary where favourable host rocks and mineralized structures may be repeated, displaced or preserved beneath limited historical drilling.
The planned drilling will evaluate the potential for near-surface gold mineralization while also testing strike and down-dip extensions of known mineralization along the southwest segment of the Armistice Structure. The target remains open in multiple directions and provides an independent exploration opportunity that is complementary to, but distinct from, the Company's deep MT anomaly. Success at the Armistice Structure would demonstrate the potential for additional mineralized corridors beyond the main Cadillac Break.
Collectively, the shallow drill program is designed to evaluate the potential for near-surface mineralization across multiple targets while testing several kilometres of prospective strike length along both the Cadillac Break and the Armistice Fault.
Underground Exploration Potential
Beyond the shallow drilling program, McGarry also hosts significant underground exploration potential.
The property is located immediately along strike from the Kerr-Addison Mine and contains numerous historical underground workings together with several zones of known gold mineralization that remain open. Underground drilling at McGarry has confirmed gold mineralization to depths of approximately 1,700 metres, and the existing geological database indicates the potential for continued mineralization within the same favourable geological package that hosts the Kerr-Addison deposit.
The Company believes success from the shallow drill program could complement longer-term underground exploration by demonstrating the continuity of the mineralized system from surface while supporting future evaluation of deeper targets.
ANT Survey Advances Deep Discovery Target
While preparations continue for the August drill program, Stardust has commenced an Ambient Noise Tomography ("ANT") survey designed to refine the Company's large district-scale deep magnetotelluric ("MT") anomaly. Interpretation is expected in late August and will be used to prioritize deep drill targets.
ANT is a passive seismic technique that records naturally occurring background vibrations using an array of geophones to generate a three-dimensional velocity model of the subsurface.
At McGarry, the survey is designed to define the geometry of the sedimentary basin and accurately constrain the depth and shape of the large conductive anomaly previously identified through magnetotelluric and deep induced-polarization surveys4. The anomaly extends from approximately 250 metres to greater than 1,000 metres below surface.
The Company believes the conductive feature may represent the continuation of the same favourable mafic-ultramafic geological package that hosts gold mineralization at Kerr-Addison, preserved beneath a sedimentary wedge bounded by the Larder Lake-Cadillac Fault and the Armistice Fault.
Systematic drilling of the refined geophysical target is expected to commence in September, launching the second drill program of the Company's 2026 campaign.
Figure 3: ANT Survey Geophone Locations
A Multi-Dimensional Exploration Strategy
The 2026 exploration program has been designed to evaluate three distinct opportunities across the McGarry Project:
Near-surface gold mineralization with potential for bulk-tonnage mineralization immediately along strike from Kerr-Addison;
Expansion of the broader Kerr-Addison gold system beneath the property; and
A large district-scale geophysical target representing a potential new discovery beneath sedimentary cover.
By advancing all three opportunities in parallel, Stardust believes McGarry offers exceptional exploration leverage within one of Canada's premier gold camps. With Cadillac Mines advancing Kerr-Addison next door and Agnico Eagle developing Upper Beaver nearby, the Company is strategically positioned to deliver meaningful exploration results through the second half of 2026.
Stock Option Grant
The Company is please to announce that Board of Directors has approved the grant of stock options to directors, officers, employees and consultants of the Company, allowing for the acquisition of up to, in the aggregate, 1,757,500 shares of the Company. 1,567,500 options were granted to certain directors and officers of the Company. The options are exercisable at a price of CAD $1.09 per share for a period of five (5) years from the date of grant and are subject to regulatory policies and approvals. Of the 1,757,500 options granted, 1,657,500 options vest one (1) year from the date of grant, 50,000 options vest two (2) years from the date of grant and the remaining 50,000 options vest three (3) years from the date of grant.
The grant of options to certain directors and officers is a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters, as the Company is listed on the Canadian Securities Exchange and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the Company's market capitalization (as determined under MI 61-101).
About Stardust Metal
Stardust is a gold exploration company with assets on the world-class Cadillac Break and adjacent to Agnico Eagle, Barrick, Pan American and Cadillac Mines (formerly Gold Candle). Its main assets include the McGarry and Omega projects, both of which are updating their historical mineral resource estimates, in addition to its Kirkland West and Goldie projects. McGarry also contains the largest historic tailings complex in the Kirkland Lake region.
QP Statement
The technical information contained in this news release has been reviewed and approved by Dr. Mynyr Hoxha, P.Geo, VP Exploration at Stardust Metal Corp., a Qualified Person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects." For the exploration undertaken by Stardust, all assay batches are accompanied by rigorous quality assurance procedures, including the insertion of standards and blanks.
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Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Stardust assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to Stardust. Additional information identifying risks and uncertainties is contained in filings by Stardust with Canadian securities regulators, which filings are available under Stardust's profile on SEDAR+.
1 Source: SLR Consulting, Gold Candle Kerr-Addison NI 43-101 Technical Report, August 21, 2023 (available at goldcandle.com).
3Historical drilling and mine development data are derived from the Company's internal database and have not been independently verified by the Qualified Person as defined under National Instrument 43-101. The Qualified Person has reviewed the data for general reasonableness but has not validated the original assay certificates, drill collar and downhole survey records, or historical sampling and quality assurance/quality-control (QA/QC) procedures. Additional work including data verification, re-logging and re-sampling of retained core where available, twin drilling, and independent check assays is required before this information can be relied upon or used to support a Mineral Resource estimate.
4 See Stardust news releases dated November 27, 2025 and February 19, 2026.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304881
Source: Stardust Metal Corp.
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