Upside Gold Provides Operational Update and Advances Technical Strategy at the Kena Gold-Copper Project

(TheNewswire)

Highlights

• Advancing a multi-faceted strategy toward anupdated NI 43-101 mineral resource estimate targeted for 2027

• Incorporating approximately 5,000 metres ofhistorical drilling completed since the 2021 historical mineralresource* estimate

• Planned 2026 drill program designed to supportresource expansion and upgrade.

• Continued advancement of the Kena Copper-Gold Zoneand broader gold-copper system

• Evaluating historic copper and silver analyses notincluded in the current gold-only resource estimate, includingmetallurgical studies to support future resource and economicevaluations

• Multiple priority drill targets identified for the2026 and 2027 exploration programs

CALGARY, Alberta – June 3,2026 – TheNewswire -Upside Gold Corp. (“Upside” or the“Company”) (CSE: UG) (FSE: 47I) (OTCQB:UGODF) is pleased to provide an operational update on ongoingtechnical and exploration advancement activities at its KenaGold-Copper Project (“Kena” or the “Project”) in southeasternBritish Columbia.

Earlier this year, the Company completed acomprehensive compilation and interpretation program integratinghistorical drilling, geological, geochemical, and geophysical datasetsacross the Kena Project. This work produced an updated digital 3Dgeological exploration model and identified multiple priority drilltargets guiding the 2026 and 2027 exploration programs.

Path Toward an Updated ResourceEstimate

The Company is advancing a multi-faceted strategy tosupport an updated NI 43-101 mineral resource estimate targeted for2027.  Key components include:

• Incorporation of approximately 5,000 metres ofhistorical drilling completed subsequent to the 2021 historicalmineral resource* estimate

• A planned 2026 diamond drill program ofapproximately 4,000 metres commencing June 2026, combining step-outand target development drilling focused on near-resourcemineralization and emerging copper-gold targets

• Assessment of historic copper and silver analysesnot captured in the existing gold-only resource estimate, includingmetallurgical studies to evaluate its potential contribution acrossthe broader Kena system

• Continued exploration beyond the current resourcefootprint, including additional targets identified through theCompany's district-scale geological model

"We are building toward a future updated resourceestimate that we believe has the potential to better reflect the truescale and value of the Kena system,” stated Sophy Cesar, Directorand Chief Executive Officer. “The incorporation of historicaldrilling completed since 2021, planned 2026 exploration drilling, andthe evaluation of copper and silver analyses represents a clearroadmap for resource growth.  Kena offers a rare combination ofexisting scale, resource expansion potential, anddistrict-scale exploration upside, and thetechnical foundation we have established this year puts us in a strongposition to unlock it."

The Company expects to provide additional updates astechnical and exploration activities progress throughout 2026.

The information in this press release has been reviewedand approved by Trevor Boyd, P.Geo., VicePresident, Exploration of the Company and aQualified Person for the technical information under NI 43-101standards.

Upside Gold Corp.

On behalf of Upside Gold Corp.

Sophy Cesar

(403) 650-7718  

CEO and Director

info@upsidegoldcorp.com
www.upsidegoldcorp.com

About Upside Gold Corp.

Upside Gold Corp. is a Canadian gold-copper explorationcompany that has entered into an option agreement to acquire a 100%interest in the Kena Gold-Copper Project, located in southeasternBritish Columbia, approximately 7 kilometres southwest of Nelson. TheKena Project consists of 198 mineral claims covering 10,114.8hectares, together with 11 crown grants covering approximately 92hectares.

The Corporation is focused on advancing the KenaGold-Copper Project through systematic exploration and drillingprograms.

*The Kena Project hosts a historical gold resourcecomprising an Indicated Mineral Resource of 32,146,000 tonnes at anaverage grade of 0.544 g/t Au for 0.561 million ounces of gold, and anInferred Mineral Resource of 177,507,000 tonnes at an average grade of0.486 g/t Au for 2.77 million ounces of gold. The historical resourceestimate is disclosed in the technical report entitled “NI 43-101 Resource Estimate for theKena and Daylight Properties” prepared by SueBird, P.Eng. of Moose Mountain Technical Services, dated May 3, 2021,and filed on SEDAR on behalf of West Mining Corp.

A Qualified Person, as defined by National Instrument43-101, has not done sufficient work to classify the historicalestimate as current mineral resources, and Upside Gold Corp. is nottreating the historical estimate as current mineral resources. Thehistorical estimate is provided for information purposes only andshould not be relied upon.  To upgrade thehistorical estimate as current mineral resource additional drillingneeds to be completed. The historical estimate uses the categories setout in section 1.2 of the NI-43-101. The parameters and assumptionsused are outlined in Bird 2021 and are provided as follows:

 1. Resources are reported usingthe 2014 CIM Definition Standards and were estimated using the 2019CIM Best Practices Guidelines.

2. Mineral Resources that are notMineral Reserves do not have demonstrated economic viability.

3. The Mineral Resource has beenconfined by a “reasonable prospects of eventual economicextraction” pit using the following assumptions: US $2,000/oz. Au ata currency exchange rate of 0.77 US$ per ; 99.95% payable Au;$4.30/oz Au offsite costs (refining, transport and insurance); a 3%NSR royalty; and uses a 88% metallurgical recovery for gold.

4. Pit slope angles are assumed at45º.

5. The specific gravity of thedeposit has been assigned as 2.8 based on sg measurements in the Kenadeposit.

Caution Regarding Forward-LookingInformation

This news release contains forward-looking informationthat involves substantial known and unknown risks and uncertainties,most of which are beyond the control of Upside Gold.Forward-looking statements include estimates and statements thatdescribe Upside Gold's future plans, objectives or goals,including words to the effect that Upside Gold or its managementexpects a stated condition or result to occur. Forward-lookingstatements may be identified by such terms as "believes","anticipates", "expects", "estimates","may", "could", "would", "will", or"plan". Since forward-looking statements are based onassumptions and address future events and conditions, by their verynature they involve inherent risks and uncertainties. Although thesestatements are based on information currently available to UpsideGold, Upside Gold provides no assurance that actual results will meetmanagement's expectations. Risks, uncertainties and other factorsinvolved with forward-looking information could cause actual events,results, performance, prospects and opportunities to differ materiallyfrom those expressed or implied by such forward-looking information.Forward looking information in this news release includes, but is notlimited to, Upside Gold’s objectives, goals or future plans,statements, details of the exploration results, potentialmineralization, Upside Gold’s portfolio, treasury, management teamand enhanced capital markets profile, the estimation of mineralresources, exploration and mine development plans, timing of thecommencement of operations and estimates of marketconditions. 

Factors that could cause actual results to differ materially from suchforward-looking information include, but are not limited to, failureor inability to complete the Transaction on the terms as announced orat all, regulatory approval processes, failure to identify mineralresources, delays in obtaining or failures to obtain requiredgovernmental, regulatory, environmental or other project approvals,political risks, inability to fulfil the duty to accommodate FirstNations and other indigenous peoples, uncertainties relating to theavailability and costs of financing needed in the future, changes inequity markets, inflation, changes in exchangerates, fluctuations in commodity prices, delays in the development ofprojects, capital and operating costs varying significantly fromestimates and the other risks involved in the mineral exploration anddevelopment industry, and those risks set out in Upside Gold publicdocuments filed on SEDAR. Although Upside Gold believes that theassumptions and factors used in preparing the forward-lookinginformation in this news release are reasonable, undue reliance shouldnot be placed on such information, which only applies as of the dateof this news release, and no assurance can be given that such eventswill occur in the disclosed time frames or at all. Upside Golddisclaims any intention or obligation to update or revise anyforward-looking information, whether as a result of new information,future events or otherwise, other than as required by law.  

Neither the CSE nor its RegulationServices Provider accepts responsibility for the adequacy or accuracyof this news release.

Copyright (c) 2026 TheNewswire - All rights reserved.