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Toronto, Ontario--(Newsfile Corp. - April 2, 2026) - Compass Gold Corporation (TSXV: CVB) ("Compass" or the "Company") is pleased to provide an update on a 1,300-metre diamond drill program underway that may be used to define an initial resource at Massala.

Compass CEO Larry Phillips: "I'm delighted to announce that we have commenced the latest field program at Massala. The work consists of an initial 41-hole, 1,300-metre shallow, tightly spaced, diamond drilling program intended to support the definition of an initial mineral resource along a prioritized 340-metre section at Massala of the 15-km long Tarabala Trend. In addition to the drilling, we have sent an additional near-surface metallurgical sample to Blue Coast Research in British Columbia, for gravity and cyanide recovery testing. Blue Coast's results are expected by the end of April 2026.

The drill program outlined below, and the Blue Coast metallurgical studies are just two examples of the work we are doing to prepare for the receipt of our Small Mine Permit for Massala.

In addition, we have completed an extensive bulk sampling and testing program at two separate facilities. The final results and data from this testing should be ready for reporting within the next ten days.

We have also been engaged in discussions with three separate parties regarding the design, fabrication and commissioning of facilities for Massala, which will incorporate the results from all of the current work programs. We expect to provide further reporting on those discussions before the end of April 2026.

While all of this activity is taking place, we have been in regular contact with the Malian administration regarding the granting of our Small Mine Permit. Our fully complete application dossier was submitted in the first week of November, 2025. Based on our decades-long experience in Mali, we fully expected that our application would have been processed long before now. We understand the frustration of our shareholders with this significant delay. At this time, we have no definitive timeline for the granting of the permit. We have received no indication of any deficiency in our application or any further requirements on our part.

Our team in Mali will continue to maintain regular contact with the Mining Ministry to ensure we are doing everything possible to expedite the delivery of a Small Mine Permit."

1. Diamond Drilling Program

Compass has commenced a two-phase resource definition diamond drilling program (totaling 2,200 m) at the Massala Prospect (Figure 1). The first phase comprises 41 shallow, inclined drill holes (1,300m) with an average depth of 32 m, and a follow-up 900 m infill program with the aim of determining an initial resource. The drill program commenced on March 30th, 2026, following completion of site preparation. The drilling is being performed by Technisol (Bamako, Mali) and geological support is under the supervision of Dr. Madani Diallo (Compass Director and Country Manager). Industry best practices are being followed, and an appropriate QA/QC program (blanks, duplicates, standards) is in place.

The purpose of the initial drilling program is to test the grade and continuity of mineralized structures identified through prior trenching and drilling programs. Highlights of these programs included several examples of relatively high-grade gold over wide drilling intervals, including 24 m @ 2.35 g/t Au (SAAC123) (see Compass Press release March 28, 2021), and wide zones at lower grade, including 21 m @ 0.86 g/t Au (SAAC189), which included 6 m @ 1.67 g/t Au (see Compass Press release May 18, 2021.)

Follow-up trenching in the same area identified mineralized intervals of 20 m @ 4.13 g/t Au (including 1 m @ 71.6 g/t Au) at a depth of 5 m from surface (trench MATR001) and 21 m @ 3.51 g/t Au (including 6 m @ 11.04 g/t Au) at a depth of 2 m (trench MATR005) (see Compass Press release August 19, 2024).

Figure 1: Location of current resource definition drilling sites at Massala. Also presented are the mineralized target structures, previous trenches and drill holes.

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This two-phase drill program is expected to span three months. The budget for phase one (1,305 m) is approximately €310k (C$500k), and the budget for phase two (932 m) is approximately €220k (C$354k). The planned locations of the holes are shown in the figure above and are intended to test an initial zone of 340 metres in length. The results of this drilling will be combined with previous drilling to narrow the average fence line spacing of drill holes in this zone from 30 metres to 15 metres. The collar spacing is 10 m. The overall aim of this planned 2,200 m drilling program is to determine whether the continuity and grade of gold mineralization can be used towards a maiden resource within this zone.

The Company expects to provide a further update on drilling results and the progress of a potential resource calculation within 60 days.

To date, there has been insufficient exploration to define a mineral resource at Massala, and it is uncertain whether further exploration or the current 1,300-metre drilling program phase will result in the target being delineated as a mineral resource. The purpose of the drill program to be conducted by the Company is principally to provide it with additional information and data for purposes of executing on the Company's small mine strategy. As such, delineation of a mineral resource (or failure to delineate a mineral resource) is not anticipated to materially impact the Company's plan to execute on its small mine strategy. (See "Small Mine Strategy at Massala" below.)

2. Metallurgical Testing

Compass also initiated a comprehensive metallurgical testing program in early January, when two representative mineralized samples totaling 100 kg were sent to Blue Coast Research. The testing was performed to evaluate gold recovery characteristics from mineralized material at Massala. Initial testing focused on Extended Gravity Recoverable Gold (E-GRG), and an additional 50 kg sample of mineralized material arrived at the Blue Coast facility on March 27 for E-GRG testing and cyanide leaching. Results for all three samples are expected by the end of April 2026.

3. Small Mine Strategy at Massala

The Company has submitted an application to the Ministry of Mines for a Small Mine Permit at its Massala prospect. A Small Mine Permit would allow the Company to commence near-surface, open-pit mining operations at low capital and operating costs and enable the Company to start generating cash flow in the near term.

Upon receipt of the Small Mine Permit, and satisfactory resource estimation and metallurgical test results, the Company intends to commence mining operations at Massala within the permitted area. The decision of the Company to commence production at Massala will not be based on a feasibility study of mineral reserves demonstrating economic and technical viability. This presents some additional economic and technical risk to the Company as the Company will have less complete data on which to base its operational decisions, including with data with respect to economic analysis, risk mitigation, and logistic and infrastructure constraints. However, the Company considers the decision to commence production without a feasibility study, and any additional risk resulting therefrom, to be appropriate and reasonable in the circumstances given the relatively low cost associated with commencing and conducting on-going mining activities at Massala, compared to other larger-scale operations. All mining activities under the Small Mine Permit will be conducted near surface and the mining infrastructure to be used for mining activities will be mobile in nature. It is the intention of the Company to explore various target areas within Massala and, based on the results of applicable exploration information, move the mining operations of the Company to mine those areas showing the greatest economic potential. Decisions with respect to where to mine will be based on the knowledge and expertise of management, with appropriate input from experts as applicable.

Qualified Person

This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo., Compass's Technical Director, the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.

Cautionary Statement on Forward‐Looking Information

This press release contains "forward-looking information" within the meaning of applicable securities legislation. Forward looking statements in this press release include, but are not limited to, statements regarding the details and timing of the Company's proposed 1,300-metre diamond drill program; the potential definition of an initial mineral resource at Massala; the anticipated results of the Company's comprehensive metallurgical testing program being conducted by Blue Coast Research; the anticipated results and data from bulk sampling and testing at Massala; and the status of the Company's application for a Small Mine Permit for the Massala prospect and the timing for the issuance of such Small Mine Permit. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "will", "proposes", "expects", "estimates", "intends", "anticipates" or "believes", or variations (including negative and grammatical variations) of such words and phrases or state that certain actions, events or results "may" "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the Company's actual results, performance or developments to be materially different from any future results, performance or developments expressed or implied by the forward-looking statements. Factors that could cause actual results, performance or developments to differ materially from those expressed or implied by the forward-looking statements in this press release are set out in the Company's most recent management's discussion and analysis of the Company (including under the headings "Emerging Market Disclosure" and "Risks and Uncertainties") available under the Company's profile on SEDAR+ at www.sedarplus.ca.

Forward-looking statements contained herein are made as of the date of this press release and, except as required by applicable law, the Company disclaims any obligation to conform such statements to actual results or to update such statements as a result of new information, results, events or circumstances, or if management's assumptions, estimates, analysis or opinions change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results, performance or developments could differ materially from those expressed or implied by such statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

About Compass Gold

Compass Gold, a public company incorporated in Ontario, is a Tier 2 issuer on the TSX-V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass Gold holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of approximately 900 sq. km. The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. The Company's Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy Archibald, P.Geo., is conducting the current exploration program. They are examining numerous anomalies first noted in Dr. Archibald's August 2017 "NI 43-101 Technical Report on the Sikasso Property, Republic of Mali."

Note: Mineralization on adjacent properties is not necessarily indicative of mineralization on the Company's properties. Any references to exploration results on adjacent properties are provided for information only and do not imply any certainty of achieving similar results on the Company's properties.

For more information, please contact:

Website: www.compassgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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