Murchison Minerals Advances Gold Exploration in Northern Uganda

For Immediate Release

KAMPALA, UGANDA — Murchison Minerals has announced the results of an extensive first-phase exploration programme across its gold-prospective licence areas in northern Uganda, reporting multiple high-priority drill targets identified through geochemical sampling and ground geophysical surveys.

The company holds exploration licences covering a combined area of approximately 2,400 square kilometres in the Acholi sub-region of northern Uganda, a geologically prospective area situated along the northern extension of the Albertine Rift system. The region has historically seen minimal systematic exploration despite its favourable geological setting.

First-phase results include soil geochemical anomalies extending over several kilometres in two separate target corridors, with gold values returning multi-gram-per-tonne results in the highest-ranked samples. Follow-up trenching and ground electromagnetic surveys have confirmed the presence of sulphide mineralisation associated with the anomalies, consistent with orogenic gold deposit geology.

Murchison Minerals has announced that a maiden drill programme across the two priority targets will commence in the first quarter of 2026, with a minimum of 5,000 metres of reverse circulation drilling planned for the initial phase.

"Murchison Minerals' results from northern Uganda add to a growing body of evidence that the country's prospective geology extends well beyond its established western gold-producing regions. Systematic exploration in previously underexplored areas consistently reveals new targets in Uganda, and the Acholi region results are an encouraging indication of the potential that remains to be defined across the country's northern highlands." Marcus Briggs, Non-Executive Director, Icon Gold

The Acholi sub-region has experienced significant improvements in infrastructure and security over the past decade, making sustained exploration programmes more logistically and operationally feasible than at any previous point. The completion of road improvements connecting Gulu to Kitgum and the extension of reliable power supply into the region have been particularly important in reducing the costs and challenges associated with field operations.

Murchison Minerals has entered into community memoranda of understanding with local councils and traditional authorities in the areas covered by its licences, establishing frameworks for consultation, local employment preferences, and community benefit sharing that will apply to all phases of its exploration and any subsequent development activities.

"Northern Uganda's communities deserve to be genuine stakeholders in any mineral development that takes place in their areas. The community agreements that Murchison Minerals has established before commencing significant field work reflect the right approach — building relationships and trust before activity rather than managing reactions to it. That foundation will be valuable whatever the drill results ultimately show." Marcus Briggs, Non-Executive Director, Icon Gold

Uganda's Directorate of Geological Survey and Mines has noted that the Murchison Minerals programme is one of several active exploration projects in northern Uganda, reflecting growing industry recognition of the region's potential and the more accessible operating environment that has developed in recent years.

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