I.
Faith First
My faith comes first. It is not separate from the work.
The Hunt Dispatch · A letter from my desk to yours
The HuntDispatchEdition Two
Fully Funded.·Drill Ready.·Working for Shareholders.
Project Great Northern, Newfoundland
Season Summer 2026
From Sean Kingsley, President & CEO
Read the Dispatch
10,000 m
Planned drill program, up to
~26,000 ha
Consolidated land package
3
Strategic exploration pillars
100%
Funded and drill ready
From My Desk to Yours
Dear Shareholders,
In our first dispatch, we introduced who Gold Hunter is, what we have consolidated, and where we are going. This second dispatch is about what your management team has been doing to prepare for what we believe is the most important drill program in Gold Hunter’s history.
The message is simple. Gold Hunter is fully funded for its planned drill program of up to 10,000 metres at the Great Northern Project in Newfoundland. We are not writing because we need to raise money. We do not. We are writing because the preparation phase is turning into the execution phase.
The project has advanced. The pre-drill technical work required to move toward mobilization has been substantially completed. Investor outreach has been active. Field logistics are being put in place. Our teams are mobilizing. And to everyone who supported Gold Hunter through the last phase of financing, consolidation, and planning: thank you. Your support put the Company in a position to move forward from strength.
Three things carried me through these past weeks, and they run through this letter.
II.
Shareholders, Always
My responsibility to you is always close behind it.
III.
Not Glamour
The plain truth is that very little of this work is glamorous.
You will see all three in the pages that follow.
Working for Shareholders
One of the comments I hear most often when travelling for Gold Hunter is, “You are lucky. You get to travel.” The truth is that business travel is only worth anything if it creates value for shareholders. Every city, every meeting, every investor event, every technical call, every site visit, and every hour away from home has to pass one simple test.
The reality behind the photos is not glamorous. Most meals are working meals, and plenty get skipped entirely, because while investors eat, we present. Flights are taken on little sleep. Hotels become offices. Airports become meeting rooms.
To save the Company money on one leg, we drove from Paris to Zurich to Stuttgart rather than fly. It was a route that should have taken approximately five hours and took more than ten when our rental avoided the toll roads. I had a gout flare-up to manage, a body that ached after weeks on the road, and a suitcase I packed and unpacked more times than I can count.
I do not tell you this for sympathy. I tell you because I want you to know how the decisions get made, and whose interests are kept in mind.
The Standard We Hold Ourselves To
Does this create value for Gold Hunter shareholders?
If the answer is yes, I go, however it has to be done. If the answer is no, I stay home.
Faith, Family, and Purpose
I do not separate the man from the CEO.
So I will not pretend the road was all spreadsheets and presentations. In Paris, the first thing I did, running on almost no sleep, was attend Mass at the Cathedrale Notre-Dame. Construction on Notre-Dame began in the 12th century. It has survived revolutions, wars, and the devastating fire of 2019. Standing inside for Mass, only months after its reopening, was a reminder that great things can be rebuilt after terrible setbacks.
Every year my wife Cecilia and I attend the Alpha Leadership Conference, which gathers Christian leaders from many denominations. This was our third year. I want to be clear about something, because it speaks to how I think about your money. Every dollar of that trip, including flights, hotel, and meals, came out of my own pocket. Not the Company’s, and not yours.
The same discipline I apply to my own spending is the discipline I apply to yours.
At a parish in central Paris, I stopped before a statue of Saint Carlo Acutis. He was a teenager who used technology to point people toward something larger than himself. The pews that morning were mostly empty and mostly grey-haired, but seeds get planted anyway.
May 8 was Cecilia’s birthday. We marked it with a bowl of ramen and an afternoon in the Louvre. As a mining man, I found myself drawn to the precious metals and jewels, some of them thousands of years old. One theme runs through all of it: gold has always held a unique place in human history as a store of wealth, a symbol of stability, and something people return to when trust in paper begins to weaken. You cannot print it. That conviction is part of why I do this work.
From Consolidation to Drill Readiness
When we first presented the Great Northern story, the opportunity was clear, but the project still needed work. Shortly after Gold Hunter’s value-creating exit transaction with FireFly Metals, we turned to Newfoundland and the consolidation of the Great Northern Project. Since then, the Company has done what it said it would do.
We completed further consolidation, bringing Great Northern to approximately 26,000 hectares. We completed a major data compilation program and a reconnaissance exploration program. We flew what we believe to be the first airborne geophysical survey to cover the entire district-scale project. We applied machine-learning analysis across the data we acquired, advanced and refined our drill targets, secured the team to execute the next phase, and raised the capital required to drill.
Each step had a purpose. This was not exploration theatre. It was not a string of disconnected announcements. It was a deliberate sequence.
- Consolidate the district.
- Compile the data.
- Get boots on the ground.
- Fly the project.
- Analyze the system.
- Generate and refine targets.
- Fund the next phase.
- Mobilize to drill.
That is how a project moves from an idea to an executable exploration campaign.
Capital Raised With a Purpose
In the junior market, shareholders are often asked to fund broad ideas. Our approach has been different. We have raised capital around defined objectives. We raised what we needed to complete specific tasks, advance specific programs, and move the project methodically toward drill readiness. Each financing had a purpose. Each program had a purpose. Each step was designed to bring Great Northern closer to the point where drilling was not only possible, but justified.
At the start of this year, Gold Hunter closed the financing required to advance the project through a multi-pronged exploration program. We are not approaching Great Northern with a single target or a single idea. We are approaching it systematically, with multiple avenues for potential validation, discovery, extension, and market recognition.
The strongest position a junior explorer can be in before a major drill campaign is to be funded before the market is forced to care. That is where Gold Hunter stands today.
We are not asking you to support another financing to launch this program. We are thanking the shareholders who already stepped up and made it possible. In a difficult junior market, access to capital is not automatic. Confidence has to be earned, and your support was the foundation of all of it. Now we have the chance to let the project speak through the drill bit.
Preparing the Market
The context investors deserve, before results begin to arrive.
Over the past several months, our team has been active across investor events, technical meetings, site preparation, community engagement, and capital markets conversations. The objective was not promotion for its own sake. It was preparation. Before launching a meaningful program, we wanted investors to understand a few things clearly.
- Gold Hunter is fully funded for its planned drill program of up to 10,000 metres.
- Great Northern has been assembled into a district-scale land package after years of fragmented ownership.
- The project includes known areas of mineralization that remain open along strike and at depth, including a current mineral resource at the Thor Deposit and a historical estimate at Rattling Brook that prior work began to define.
- That prior work was completed in a much lower gold price environment, which is part of why we believe the project deserves a modern look.
- Gold Hunter’s prior transaction with FireFly Metals created direct value for shareholders, including the distribution of approximately 25 million FireFly shares to Gold Hunter shareholders at the time of the exit.
- The Company has now completed consolidation, compilation, reconnaissance exploration, airborne geophysics, machine-learning assisted analysis, target generation, financing, contractor selection, drill permitting, and drill planning.
- The upcoming program is designed to test the project at a scale it has not seen under Gold Hunter’s consolidated ownership.
On the Road · Deutsche Goldmesse, Frankfurt
From introduction to execution.
Our recent outreach included Deutsche Goldmesse in Frankfurt, and I have a personal history with this conference. It started in 2020, and I attended the first event that fall. At the time, very few people were travelling internationally. There was testing, screening, and changing protocols to manage on both sides of the Atlantic. It was not easy. But showing up mattered then, and it still matters now.
Gold Hunter also presented at Deutsche Goldmesse in the fall of 2024, shortly after our exit with FireFly and the initial consolidation of Great Northern. At that stage, the story was still early, but the foundation was clear. We returned in 2026 with a much stronger story: a larger consolidated land package, a far deeper technical database, district-wide airborne geophysics, machine-learning assisted targeting, a funded treasury, selected exploration and drilling teams, permits in place, and a clear plan to begin testing the project with the drill bit. That is a very different setup.
Kai Hoffmann and his team have built Deutsche Goldmesse into what I believe is Germany’s, and arguably Europe’s, premier metals investment conference. Kai keeps it disciplined by limiting the number of presenting companies and focusing on quality. This year, Gold Hunter had two full days of pre-scheduled meetings with elite European investors who understood the opportunity quickly. Their questions were direct.
What is the disconnect?
How much stock can I buy?
When will drill results come?
Those are the right questions. They tell me investors are not just hearing the story. They are beginning to understand it. We are not raising money right now, so the purpose of those meetings was to build understanding before drilling begins and before the market has to respond to new information. We left Frankfurt with stronger relationships and a clear sense that sophisticated European investors are paying attention to funded exploration stories with near-term catalysts. A sincere thank you to Kai, Rachel, Jenna, Ryan, and the entire Deutsche Goldmesse team. Job well done.
On the Road · CSE F1 Global Markets Reception, Montreal
On my way home from Frankfurt, I took a layover in Montreal to present at the Canadian Securities Exchange’s F1 Global Markets Reception. Gold Hunter is listed on the CSE, so this was a chance to present our story to an engaged home-exchange audience alongside a number of our public company peers. The reception was held at the Saint James’s Club of Montreal and ran on a rapid-fire pitch format, alongside a Global Access Panel. It was exactly the type of focused, high-quality room where a funded, near-term exploration story needs to be heard.
I opened with a simple question. As investors, why do we invest? The answer is just as simple. To create a return. From there, the message was direct. Gold Hunter has consolidated a major gold project in Newfoundland. We are fully funded for a planned drill program of up to 10,000 metres. We have known areas of mineralization, strong infrastructure, district-scale targets, permits in place, local drilling capacity secured, and a project that has not yet seen the modern, large-scale campaign we believe it deserves.
The day after the event, I left Montreal before the Formula 1 weekend built momentum. Again, all work and no play. It marked the end of a whirlwind stretch, and I came home tired but encouraged. Serving through programs like Alpha has taught me that the right kind of work can drain you and fill you at the same time. That is exactly how this felt. The travel wore me out. Getting Gold Hunter’s opportunity in front of as many investors as possible, before the drills turn, energized me. It mattered, and it was worth it.
Home, But Not Stopped
After returning, I spent two and a half weeks in Vancouver with Cecilia and our dog, Nucky. It was a chance to catch up, reset, and recover. But the work did not stop. Communications, technical planning, logistics, procurement, community relationships, accommodations, contractor coordination, and field readiness all kept moving. A drill program of this scale does not come together by accident. It takes planning, coordination, and people. It also takes a team that understands shareholders are not just investing in a project. They are investing in our ability to execute.
On the Road · Investor Clubhouse, RBC Canadian Open
Last week, I flew back to Toronto to present Gold Hunter at the 5th Annual Investor Clubhouse, held alongside the RBC Canadian Open. Friday opened with a kick-off event hosted by our transfer agent, Endeavour Trust. The timing was memorable, with Canada opening its FIFA World Cup on home soil that same day and the city buzzing.
Saturday was a full day of investor meetings at Perla Oyster Bar in Vaughan. The lineup was excellent, and the format allowed for deeper conversations across a wide range of profiles. Some were existing shareholders. Some were new to Gold Hunter. Some were brokers, advisors, and investors capable of leading or supporting significant financings. That last point matters even though we are not raising money. The purpose was not to finance the Company. It was to make sure serious investors understood the opportunity before drilling begins. Many of the conversations echoed Europe.
Sunday was Championship Day at the Open, where the Clubhouse was hosted in a suite on the famous Rink Hole at TPC Toronto at Osprey Valley in Caledon. I will admit, I barely watched the golf. There were simply too many conversations to have. And that is exactly the point. The best investor events are not the ones where management watches the entertainment. They are the ones where management spends the day in conversation with the people who can help build long-term awareness around the Company.
From Investor Awareness to Field Execution
Now our teams are mobilizing to site.
I came home a few days ago tired, sore, and feeling the wear of the travel, but deeply satisfied that every ounce of energy went toward putting Gold Hunter in front of the right people before this next phase. The work does not stop.
At Pollards Point, Newfoundland, a community of roughly 300 people that sits in the middle of our Great Northern Project, we have been putting the practical pieces in place. We have secured an excellent camp setup. We purchased a local home to house the exploration management team. We secured a former restaurant that we plan to convert into a kitchen and mess hall.
On the drilling side, we have awarded the diamond drilling and infrastructure support contract to MCL Drilling, a local Newfoundland firm based in Deer Lake, approximately an hour south of the project. MCL brings the rigs, crews, pad construction, road construction, and infrastructure support capacity the program needs. Our drill permits are already in place, and mobilization is underway as crews and equipment move toward site.
Most importantly, we have started building real relationships in the surrounding communities, and we have already hired several local people to join the team. That matters. Exploration is not only about drill targets, assays, and maps. It is about operating properly in the communities where we work. Great Northern is not a project we are visiting from a distance. It is one we are preparing to work on seriously, locally, and responsibly.
Why This Matters Now
This is the point where the pieces come together.
- ✓Completed a value-creating exit with FireFly Metals and distributed FireFly shares directly to our shareholders.
- ✓Consolidated a district-scale gold project and expanded Great Northern to approximately 26,000 hectares.
- ✓Completed major data compilation, reconnaissance exploration, and what we believe to be the first airborne geophysical survey across the entire district.
- ✓Applied machine learning to accelerate target generation, advanced a multi-pronged thesis, and closed the financing to launch the program.
- ✓Engaged Equity Exploration Consultants to manage exploration activities for the inaugural 2026 program.
- ✓Awarded the drilling and infrastructure support contract to MCL Drilling, a Newfoundland firm based in Deer Lake, with drill permits already in place.
- ✓Built stronger investor awareness across Canada and Europe, and started mobilizing to the field.
That is meaningful progress. And it has all been done with one objective in mind: creating value for Gold Hunter shareholders.
Not a Single-Target Drill Story
We are preparing to attack Great Northern systematically, with multiple avenues for potential value creation. The project includes known mineralized areas, district-scale structural targets, geophysical anomalies, machine-learning generated targets, and underexplored ground that has not been tested with modern methods. We are not drilling because we need activity. We are drilling because the work of the past year has brought the project to the point where drilling is the correct next step. The objective is to confirm, extend, and potentially discover across a project we believe has genuine district-scale potential.
The market does not need another junior saying something might be interesting one day. The market needs companies that are funded, focused, prepared, and ready to execute.
That is the position Gold Hunter has worked to reach.
Thank You
To our existing shareholders: thank you. You backed Gold Hunter before this program was funded, and through the work it took to consolidate the project and prepare for execution. That support is the reason I do the work in these pages with conviction rather than obligation.
We are entering this program with a clear plan, a funded treasury, experienced exploration and drilling teams, stronger investor awareness, local field infrastructure, permits in place, and a project that we believe deserves a serious campaign. The drills have not yet turned, but the work has already begun. I am grateful you are here for it.
Saturday was a full day of investor meetings at Perla Oyster Bar in Vaughan. The lineup was excellent, and the format allowed for deeper conversations across a wide range of profiles. Some were existing shareholders. Some were new to Gold Hunter. Some were brokers, advisors, and investors capable of leading or supporting significant financings. That last point matters even though we are not raising money. The purpose was not to finance the Company. It was to make sure serious investors understood the opportunity before drilling begins. Many of the conversations echoed Europe.
Sunday was Championship Day at the Open, where the Clubhouse was hosted in a suite on the famous Rink Hole at TPC Toronto at Osprey Valley in Caledon. I will admit, I barely watched the golf. There were simply too many conversations to have. And that is exactly the point. The best investor events are not the ones where management watches the entertainment. They are the ones where management spends the day in conversation with the people who can help build long-term awareness around the Company.
We Are Not Raising Money. We Are Building Interest.
Know someone who should be following the Gold Hunter story?
We are not looking to finance the Company right now. We are building awareness and understanding before execution begins, while there is still time to learn the story before the drill results arrive. For current shareholders, we want you informed. For prospective investors, we want you engaged. For brokers, advisors, institutions, family offices, and strategic groups, we want Gold Hunter on your radar now.
For build use, not for the reader: the disclosure language below is carried from the Edition 1 published page and the standard Gold Hunter technical disclosures. Have Rory and counsel confirm and update this exact text for Edition 2, and hold the Qualified Person approval line until Rory has reviewed the final copy.
Forward-Looking Statements
This newsletter contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws. These statements relate to future events or the Company’s future performance, including statements regarding the planned drill program of up to 10,000 metres, exploration plans, target generation, contractor engagement, mobilization, site logistics, timing, potential discoveries, potential extensions of known mineralization, technical validation, market recognition, and the Company’s broader exploration strategy and objectives at the Great Northern Project.
Forward-looking statements are inherently subject to known and unknown risks, uncertainties, and assumptions that may cause actual results to differ materially from those expressed or implied, including volatility in commodity prices, exploration and development risks, availability of financing, regulatory or political developments, the ability to retain qualified personnel and contractors, and changes in project parameters as plans continue to be refined. Although Gold Hunter believes the expectations expressed are reasonable, such statements are not guarantees of future performance. The Company does not undertake any obligation to update or revise any forward-looking statements except as required by applicable law.
Technical Information · Rattling Brook
The Rattling Brook Gold Deposit contains a historical estimate published in the NI 43-101 Technical Report and Updated Mineral Resource Estimate on the Rattling Brook Gold Deposit, Great Northern Project, White Bay Area, Newfoundland, Canada (effective January 23, 2019), prepared in accordance with NI 43-101 and categorized as Inferred. A Qualified Person has not completed sufficient work to verify the historical data or to classify the historical estimate as a current mineral resource or reserve. The Company is not treating the historical estimate as current. Additional drilling, data verification, and updated geological modeling will be required to upgrade or verify this estimate.
Technical Information · Browning Mine
The Browning Mine, located within the Great Northern Project area, is a past-producing gold occurrence that reportedly saw limited production in the early 1900s. No reliable records or verifiable data concerning the extent of mining, production tonnages, or grades are available. As such, no mineral resource or reserve of any category can be reported for the Browning Mine, and the Company makes no representations regarding its past production or economic potential.
Technical Information · Thor Deposit
NI 43-101 Technical Report and Mineral Resource Estimate for Thor Deposit, Viking Project, White Bay Area, Newfoundland (effective October 24, 2023; report date July 12, 2024). Mineral resources were interpolated using Ordinary Kriging from 1.5 m assay composites. Open pit cut-off grade 0.46 g/t Au; underground cut-off grade 2.14 g/t Au. Mineral resources were reported within an optimized pit shell using a gold price of USD 1,800 per ounce and are considered to have reasonable prospects for economic extraction. QP: Matthew Harrington, P.Geo. (Mercator Geological Services Limited).
Qualified Person
The scientific and technical information contained in this newsletter has been reviewed and approved by Mr. Rory Kutluoglu, B.Sc., P.Geo., Vice President of Exploration for Gold Hunter Resources Inc. and a Qualified Person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Kutluoglu is a Professional Geologist registered with Engineers and Geoscientists British Columbia and a Fellow of both the Society of Economic Geologists and the Geological Society of London.