Star Gold Corp. Secures Long Term Lease of Required Water Rights to Advance Development of the Longstreet Gold Project
COEUR d'ALENE, Idaho, October 27, 2026, Star Gold Corp. ("Star Gold" or the "Company") (OTC: SRGZ) is pleased to announce the long-term leasing of substantial water rights to enable all currently planned heap leaching operations as well as providing over 300% growth in the Project as new resources are confirmed. The Longstreet Project is located approximately 57 miles northeast of Tonopah in the prolific Walker Lane Belt region of Nevada.
The lease covers 2,471 acre feet of water rights. Preliminary water balance work completed for the Project indicates total annual consumption for planned operations of approximately 600 acre feet per year, or roughly 720 acre feet per year with a 30% contingency applied. That estimate accounts for initial heap loading, makeup water sized to a conservative dry year rather than an average year, and plant, water truck, sanitary and miscellaneous site use. The secured supply is more than three times the Company's contingency adjusted annual requirement.
"Water rights in Nevada are hard assets, and they are getting harder to secure every year," said Lindsay Gorrill, Chief Executive Officer of Star Gold Corp. "Locking in a long-term lease at this volume does two things for our shareholders. It derisks Longstreet, and it gives us room to grow. We did not secure water for the mine plan we have today. We secured water for the company we intend to build, and that includes the resource growth we expect at Longstreet and the projects that come after it."
That margin is deliberate. It carries the Project through dry year conditions without curtailment, absorbs the higher demand that accompanies expanded throughput as new resources are confirmed, and leaves capacity available to support development beyond the current Longstreet mine plan.
With water rights in hand, the Company can advance detailed design engineering on a fixed supply assumption rather than a conditional one. Water availability is a foundational input to process design, heap configuration, pad sizing and pond capacity, and it is a standing question in both permitting and technical due diligence.
"Water availability sits underneath almost every engineering decision on a heap leach project, from pad and pond sizing through to the solution balance itself," said Reinis Sipols, Director of Project Management at Star Gold Corp. "Until it is settled, every design carries a caveat. It is now settled, and settled with real margin, which means our consultants can carry a firm number into detailed design instead of a range."
Answering the water question definitively allows engineering and permitting workstreams to advance in parallel and removes a recurring qualification from the Project's development path.
About Star Gold Corp.
Star Gold Corp. (OTCQB: SRGZ) is an emerging precious metals exploration and development company focused on advancing its flagship Longstreet Gold-Silver Project in Nye County, Nevada. The 100%-owned Longstreet Project spans approximately 2,600 acres, comprising 137 unpatented mining claims and 5 additional unpatented claims held under lease with an option to purchase. Star Gold is strategically advancing the technical studies and documentation required to support a potential Environmental Impact Statement and move toward production, with a commitment to responsible exploration and sustainable development. For more information, visit www.stargoldcorp.com.
For More Information
Star Gold Corp. www.stargoldcorp.com
Investor Contact Lindsay Gorrill Chief Executive Officer Lgorrill@stargoldcorp.com (208) 664-5066
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Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the commencement and completion of road restoration activities, equipment mobilization, drilling plans, permitting timelines and outcomes, resource estimates, production potential, and the overall advancement of the Longstreet Gold-Silver Project. These statements are based on management's current expectations, estimates, and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including but not limited to: delays in obtaining required regulatory approvals; weather, ground, or logistical conditions affecting field operations; changes in commodity prices; inability to raise necessary capital; and other risk factors described in the Company's public filings with applicable securities regulators. Star Gold Corp. does not undertake any obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.