What you need to know: • EDG announced strong 2025 prospecting and soil sampling results, setting the stage for potential resource growth beyond the immediate resource area. • Results include a new Eagle Offset anomaly substantially extending the Royal Shear Trend 500m south of the current MRE. • In addition, work on the Olympic claims advanced prior anomalies to drill-ready targets, while identifying a new ~1km2 anomaly. • On January 19th, EDG announced an inaugural Inferred resource at its Reliance Project of 1.45Moz at a grade of 2.30 g/t Au (1.12Moz open pit). This morning, Endurance Gold Corp. (EDG:TSXV) announced strong results from 2025 prospecting and soil sampling at its Reliance Gold Project. This comes on the back of the impressive inaugural Inferred gold resource reported earlier this week of 19.6Mt at a grade of 2.30 g/t, totalling 1.45Moz (read our note here), outlining significant potential beyond the initial MRE. Today’s press release adds new targets while advancing prior anomalies, meaningfully extending the Royal Shear Trend, and setting the stage for further exploration to expand resources beyond the inaugural estimate. We are maintaining our BUY rating and target price of $0.90/share on EDG. Highlights from the program include a new Eagle Offset anomaly beginning 500m south of the MRE. The geochemical soil anomaly spans 1,300m by 500m with significant gold, arsenic, and antimony. The new anomaly is interpreted as a structural offset and continuation of the Royal Shear trend and has returned rock grabs up to 8.16 g/t Au. The Eagle Offset target is significant in size when compared to the MRE area (see figure 2 below), highlighting the substantial potential as EDG systematically advances exploration efforts. Further, the Olympic Claims continue to be a key prospective growth area for EDG, and results from the Olympic geochemical anomalies released today further solidifies that potential. Within the area, surface outcrops were relocated with rock grabs up to 4.57 g/t and 6.26 g/t Au at the Kelvin and Leckie-Macgee historic workings. In addition, three new mineralized structures were discovered at Kelvin with rock grabs of 25.1 g/t, 17.35 g/t, and 8.49 g/t Au, and a new ~1km2 soil anomaly was identified (Whisky Jack), which included a chip sample of 8.58 g/t Au across 1.6m. For reference, Whisky Jack is situated 1,200m southeast of the Enigma prospect, which previously returned up to 9.66 g/t Au and 11.90% Sb.