Eldorado Gold's investee TRU reports gold in all 2025 drill holes

TRU Precious Metals Corp., an investee of Ormonde Mining plc, announced positive results from its 2025 diamond drilling program at the Golden Rose Project in Newfoundland, with all four holes intersecting gold mineralization. Key findings include the discovery of a new broad mineralized sandstone unit over 500 meters with assays up to 1.3 g/t gold, and confirmation of depth continuity for the previously trenched Northcott zone. These results, which exceeded expectations and will guide future exploration, are particularly significant given TRU's earn-in agreement with Eldorado Gold Corporation for the Central Newfoundland Gold Belt asset.

Analysis

TRU Precious Metals Corp., a 36.5%-owned investee of Ormonde Mining plc, has reported significant exploration success at its Golden Rose Project in Newfoundland. The 2025 diamond drilling program confirmed gold-bearing mineralization in all four holes, a result that management stated exceeded expectations. Key discoveries include a new mineralized sandstone unit extending over a minimum 500-meter strike length with gold assays up to 1.3 g/t, and notable intercepts such as 1.0 g/t gold over 13.3 meters. The program also established vertical continuity of the previously identified Northcott zone over 240 meters. This exploration success is particularly meaningful in the context of the July 2024 earn-in agreement with Eldorado Gold Corporation, which has the option to acquire an 80% interest by funding CAD15.25 million. These positive initial results serve to de-risk the project and validate Eldorado's strategic investment, providing a strong basis for follow-up drilling programs which are now being planned.

Key Decisions for Investors

• For investors in Ormonde Mining, these results materially enhance the value of its 36.5% stake in TRU Precious Metals and provide a clear upside catalyst dependent on further exploration success.
• Investors in Eldorado Gold should view this as a positive, albeit early-stage, validation of their exploration pipeline expansion, as the results confirm the geological potential of the asset they are funding.
• While the initial findings are promising, it is critical to recognize the project remains in an early exploration phase; the economic viability is unproven and future value hinges on subsequent drilling confirming the scale and grade of the deposit.