Lac Gold (LAC) Q3 2026 TU earnings summary

Executive summary

• Commenced maiden drilling at Rouyn Gold Project (Québec) with initial high-grade gold assay results at Astoria, including 7.0m @ 16.1 g/t Au and 3.0m @ 11.4 g/t Au, supporting geological models and resource growth objectives.

• Approximately 7,500 metres drilled to date as part of a planned 15,000-metre program, targeting resource expansion and depth extensions.

• Acquisition of the historic Golden Patricia Gold Mine (Ontario) from Barrick announced, consolidating landholding and adding a high-grade production centre.

• Environmental baseline, permitting, and stakeholder engagement advanced, including community consultation and establishment of a Comité de suivi.

• Integration of technical, environmental, and economic workstreams underway to support early-stage development evaluation.

Financial highlights

• Cash balance of A$16.2 million at 31 March 2026.

• Quarterly operating expenditure: staff A$425k, corporate costs A$312k, exploration and evaluation A$836k, acquisition-related costs A$319k.

• Net cash outflow from operating activities: A$615k for the quarter.

• No financing activities during the quarter; no shares issued.

• Payments to related parties totaled A$346k (directors' fees and associated costs).

Outlook and guidance

• Ongoing drilling and assay results expected from Rouyn, with expansion of drilling across the corridor.

• Advancement of environmental and technical studies, and completion/integration of Golden Patricia acquisition are key focus areas for the next quarter.

• Company remains focused on defining the scale, continuity, and potential of Rouyn Gold Project.