Gold Candle Discovers New High-Grade Mineralization at the Party Wall Zone, intersecting 1.8m at 130 g/t Au and 10.5m at 7.1 g/t Au

Gold Candle also outlines 2025 Exploration Plan with 50,000 metres at Kerr-Addison

TORONTO, May 20, 2025 /CNW/ - Gold Candle Ltd. is pleased to announce the discovery of new high-grade mineralization called the Party Wall zone, including 1.80 m at 130 g/t Au and 10.5 m at 7.1 g/t Au. Other recent intercepts from nearby targets returned 4.0 m at 41.57 g/t Au and 11.05 m at 4.22 g/t.

The Party Wall is the extension of the Kerr-Addison mineralized system east of the historical-mined areas, below the former Chesterville Mine.

The Company is also ramping up exploration at the project with over 50,000 metres of drilling planned for 2025. Gold Candle has added two more drill rigs to the program following a new exploration targeting review.

"The year has started strong for Gold Candle and these new high grade results from the Party Wall Zone highlight the incredible strength of the Kerr-Addison Mine. It is important to note that the Party Wall is open along strike and at depth. Also, these results are in areas that were not previously mined," said Gold Candle COO Leon Leblanc. "The team completed key milestones with the release of Kerr-Addison's updated mineral resource and the initial resource on the Geminid nickel zone providing us with a strong base as we move forward. I'm excited to see the team executing on our ambitious 12-month exploration plan aiming at expanding the current resource away from the historical Kerr-Addison mine and looking across our property for new discoveries. The Company is ramping up exploration at the project with over 50,000 metres of drilling planned for 2025. Gold Candle has added two more drill rigs to the program following a recent exploration targeting review."

Kerr-Addison Near Mine Drilling
Following the update of the Kerr-Addison Mineral Resource Estimate (MRE), several significant drill results have been returned from near-mine targets:

Party Wall Zone

• KAD24-320T: 762.26-764.06 m; 1.80 m @ 130.02 g/t (23.08 g/t capped)
• KAD24-320T: 818.06-826.60 m; 10.54 m @ 7.10 g/t

Footwall Zones

• KAD24-322B1: 882.50-895.10 m; 12.60 m @ 2.17 g/t
• KAD24-322B3: 1513.0-1517.0 m; 4.00 m @ 41.57 g/t (20.44 g/t capped)
• KAD24-324T: 345.0-370.1 m; 25.05 m @ 1.70 g/t

Kearns Zone

• KAD24-321B1: 778.0-778.70 m; 0.70 m @ 145.50 g/t (50 g/t capped)
• KAD24-321B3: 1080.0-1091.0 m; 11.05 m @ 4.22 g/t

The Company is also carrying out mining, metallurgical and environmental studies supporting an ongoing scoping study on Kerr-Addison. Along with the additional drilling, Gold Candle plans to use the results of the scoping study to move towards a preliminary economic assessment (PEA) in 2026.

"The recent drilling results are very encouraging and increase our confidence in the growth potential of areas where no mining or exploration had been done before. We are actively adding quality ounces in a well-understood geological context that can be easily included in future resource updates and economic studies. The site now has six units actively drilling, including one drilling over 2.5 km deep below the historic mine to test the roots of this world class high-grade system for the first time on the Project," said Gold Candle VP Exploration Dean Crick. "As we're progressing with the economic studies on Kerr-Addison, we're excited to see how our drilling results can provide an even more compelling resource base for future studies. Advancing Kerr-Addison towards what we see developing as a long-lived Tier-1 operation in the heart of the Abitibi.''

The 2025 exploration plan is designed to accelerate the defining of new ore zones by aggressively drilling: 1) Near Mine Targets, adding two drills to the existing three currently advancing Party Wall Zone, the Kearns Zone sitting east of the former operation and Footwall (FW) zones south of the historical orebody and deep targets about 2 km below surface and; 2) Regional targets, with one drill currently active on the Geminid zone and moving later this year to greenfield targets east of Kerr-Addison along the 5 km section of the Cadillac Larder Lake Break (CCLB).

Gold Candle's exploration zones and current drilling activities are shown on the following maps, highlighting the Kerr-Addison-Chesterville complex and the Geminid discovery within the Company's regional land holdings.

About the Kerr-Addison Deposit
Kerr-Addison is an orogenic gold deposit in the Abitibi greenstone belt, controlled by the Larder-Lake-Cadillac Deformation Zone. The deposit produced over 11 million ounces of gold, with mineralization occurring in quartz stockwork veins, free gold and disseminated pyrite and arsenopyrite.

About Gold Candle
Gold Candle is a privately funded Canadian exploration company led by a diverse and highly experienced group of mining professionals. In 2015, the Company acquired claims over the historic Kerr-Addison Gold Mine and surrounding area in the McGarry Township, located in the Timiskaming District of Ontario. Our approach to responsible mineral exploration is to perform our activities in a manner that benefits local communities, employees and shareholders and respect people and the environment.

SOURCE Gold Candle Ltd.