(via TheNewswire)

Highlights

• Advancing a multi-faceted strategy toward an updated NI 43-101 mineral resource estimate targeted for 2027

• Incorporating approximately 5,000 metres of historical drilling completed since the 2021 historical mineral resource* estimate

• Planned 2026 drill program designed to support resource expansion and upgrade.

• Continued advancement of the Kena Copper-Gold Zone and broader gold-copper system

• Evaluating historic copper and silver analyses not included in the current gold-only resource estimate, including metallurgical studies to support future resource and economic evaluations

• Multiple priority drill targets identified for the 2026 and 2027 exploration programs

CALGARY, Alberta – June 3, 2026 – TheNewswire - Upside Gold Corp. (“Upside” or the “Company”) (CSE: UG) (FSE: 47I) (OTCQB: UGODF) is pleased to provide an operational update on ongoing technical and exploration advancement activities at its Kena Gold-Copper Project (“Kena” or the “Project”) in southeastern British Columbia.

Earlier this year, the Company completed a comprehensive compilation and interpretation program integrating historical drilling, geological, geochemical, and geophysical datasets across the Kena Project. This work produced an updated digital 3D geological exploration model and identified multiple priority drill targets guiding the 2026 and 2027 exploration programs.

Path Toward an Updated Resource Estimate

The Company is advancing a multi-faceted strategy to support an updated NI 43-101 mineral resource estimate targeted for 2027.  Key components include:

• Incorporation of approximately 5,000 metres of historical drilling completed subsequent to the 2021 historical mineral resource* estimate

• A planned 2026 diamond drill program of approximately 4,000 metres commencing June 2026, combining step-out and target development drilling focused on near-resource mineralization and emerging copper-gold targets

• Assessment of historic copper and silver analyses not captured in the existing gold-only resource estimate, including metallurgical studies to evaluate its potential contribution across the broader Kena system

• Continued exploration beyond the current resource footprint, including additional targets identified through the Company's district-scale geological model

"We are building toward a future updated resource estimate that we believe has the potential to better reflect the true scale and value of the Kena system,” stated Sophy Cesar, Director and Chief Executive Officer. “The incorporation of historical drilling completed since 2021, planned 2026 exploration drilling, and the evaluation of copper and silver analyses represents a clear roadmap for resource growth.  Kena offers a rare combination of existing scale, resource expansion potential, and district-scale exploration upside, and the technical foundation we have established this year puts us in a strong position to unlock it."

The Company expects to provide additional updates as technical and exploration activities progress throughout 2026.

The information in this press release has been reviewed and approved by Trevor Boyd, P.Geo., Vice President, Exploration of the Company and a Qualified Person for the technical information under NI 43-101 standards.

Upside Gold Corp.

On behalf of Upside Gold Corp.

Sophy Cesar

(403) 650-7718  

CEO and Director

info@upsidegoldcorp.com www.upsidegoldcorp.com

About Upside Gold Corp.

Upside Gold Corp. is a Canadian gold-copper exploration company that has entered into an option agreement to acquire a 100% interest in the Kena Gold-Copper Project, located in southeastern British Columbia, approximately 7 kilometres southwest of Nelson. The Kena Project consists of 198 mineral claims covering 10,114.8 hectares, together with 11 crown grants covering approximately 92 hectares.

The Corporation is focused on advancing the Kena Gold-Copper Project through systematic exploration and drilling programs.

*The Kena Project hosts a historical gold resource comprising an Indicated Mineral Resource of 32,146,000 tonnes at an average grade of 0.544 g/t Au for 0.561 million ounces of gold, and an Inferred Mineral Resource of 177,507,000 tonnes at an average grade of 0.486 g/t Au for 2.77 million ounces of gold. The historical resource estimate is disclosed in the technical report entitled “NI 43-101 Resource Estimate for the Kena and Daylight Properties” prepared by Sue Bird, P.Eng. of Moose Mountain Technical Services, dated May 3, 2021, and filed on SEDAR on behalf of West Mining Corp.

A Qualified Person, as defined by National Instrument 43-101, has not done sufficient work to classify the historical estimate as current mineral resources, and Upside Gold Corp. is not treating the historical estimate as current mineral resources. The historical estimate is provided for information purposes only and should not be relied upon.  To upgrade the historical estimate as current mineral resource additional drilling needs to be completed. The historical estimate uses the categories set out in section 1.2 of the NI-43-101. The parameters and assumptions used are outlined in Bird 2021 and are provided as follows:

 1. Resources are reported using the 2014 CIM Definition Standards and were estimated using the 2019 CIM Best Practices Guidelines.

2. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

3. The Mineral Resource has been confined by a “reasonable prospects of eventual economic extraction” pit using the following assumptions: US $2,000/oz. Au at a currency exchange rate of 0.77 US$ per $CDN; 99.95% payable Au; $4.30/oz Au offsite costs (refining, transport and insurance); a 3% NSR royalty; and uses a 88% metallurgical recovery for gold.

4. Pit slope angles are assumed at 45º.

5. The specific gravity of the deposit has been assigned as 2.8 based on sg measurements in the Kena deposit.

Caution Regarding Forward-Looking Information

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Upside Gold. Forward-looking statements include estimates and statements that describe Upside Gold's future plans, objectives or goals, including words to the effect that Upside Gold or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Upside Gold, Upside Gold provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Upside Gold’s objectives, goals or future plans, statements, details of the exploration results, potential mineralization, Upside Gold’s portfolio, treasury, management team and enhanced capital markets profile, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. 

Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure or inability to complete the Transaction on the terms as announced or at all, regulatory approval processes, failure to identify mineral resources, delays in obtaining or failures to obtain required governmental, regulatory, environmental or other project approvals, political risks, inability to fulfil the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Upside Gold public documents filed on SEDAR. Although Upside Gold believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Upside Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

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