(via TheNewswire)

Vancouver, British Columbia - October 20, 2026 - TheNewswire - Lighthouse Gold Inc. ("Lighthouse" or the "Company") (CSE:LGHT) is pleased to announce that, further to its news release dated June 15, 2026, it has executed a definitive property option purchase agreement (the "Definitive Agreement") pursuant to which the Company has been granted the exclusive right to acquire, through an assignment of the vendor's underlying option, a 100% interest in the Mariwa-Sardine Hill - Lower Cuyuni Gold Property (the "Property"), located within the prospective Oko Gold District in Guyana, South America.

The execution of the Definitive Agreement represents a significant milestone in the Company's strategy to establish a district-scale exploration portfolio within the Guiana Shield and follows the Company's previously announced letter of intent.

Highlights

• Definitive Agreement executed granting Lighthouse the exclusive option to acquire a 100% interest in the Mariwa-Sardine Hill - Lower Cuyuni Gold Property.

• Property comprises three contiguous Mining Permits Medium Scale (MPMS) totaling approximately 3,240 acres.

• Located within Guyana's emerging Oko Gold District, approximately:

  • 31 km from Oko West Gold Project;

  • 18 km from Groete Creek Gold-Copper Project; and

  • 8 km from Wariri Gold Mine.

• Historical exploration has outlined a large structurally controlled gold system supported by drilling, trenching, geochemistry and geophysics.

• Historic drill intercepts include 113.5 metres grading 1.39 g/t gold from near surface (inclined holes; true widths unknown).

• Historic trenching returned up to 17.40 g/t gold over 1 metre.

• Multiple geophysical and geochemical targets remain untested by drilling.

• Property includes a 10-kilometre Area of Interest provision supporting additional district-scale growth opportunities.

The Company cautions that the historical exploration results have not been independently verified by Lighthouse Gold and should not be relied upon as indicative of future exploration success.

"The execution of the Definitive Agreement marks an important milestone for Lighthouse Gold and secures the Company's path to acquiring this property," stated Will Rascan, Interim Chief Executive Officer.

"We have now secured the exclusive right to acquire =- a land package within an active gold district in Guyana. With the transaction now formalized, our focus shifts toward unlocking the exploration potential of the Property through modern geological interpretation, data compilation and systematic exploration."

Rascan continued:

"We believe the Mariwa-Sardine Hill Property offers the rare combination of extensive historical exploration, compelling drill and trench results, district-scale land position and considerable exploration upside. As consolidation continues throughout the Oko District, Lighthouse is well positioned to create shareholder value through disciplined exploration and strategic land consolidation."

Advancing Exploration

With the Definitive Agreement now executed, Lighthouse has mobilized its technical team and commenced drafting a work program designed to unlock the Property's exploration potential, which is expected to include:

• compilation and digitization of historical exploration data into a modern digital database;

• reconstruction and validation of historical drill holes, geochemical and geophysical datasets;

• comprehensive geological, structural and targeting interpretation to refine the Company's understanding of the mineralized system;

• confirmation, ranking and prioritization of high-quality exploration targets for near-term follow-up;

• planning and permitting of follow-up geological mapping, geochemical surveys, trenching and drilling programs; and

• evaluation of additional strategic acquisition opportunities across the surrounding district.

Lighthouse expects exploration activities to commence immediately, and looks forward to providing shareholders with regular updates as key milestones are achieved.

Terms

Pursuant to the Definitive Agreement, Lighthouse has been granted the exclusive right, exercisable at any time within four years, to acquire all of the vendor's interest in the Property, including the vendor's option to acquire a 100% interest in the Property under the Underlying Agreement (as defined below), in consideration for:

• US$100,000 non-refundable deposit (previously paid on signing of the Letter of Intent);

• US$150,000 cash payment within five business days of acceptance of the transaction by the Canadian Securities Exchange (the "CSE");

• the issuance of 35,000,000 common shares of Lighthouse Gold (the "Consideration Shares") at a deemed priced of $0.185 per share within five business days of CSE acceptance, subject to applicable statutory resale restrictions and any escrow requirements of the CSE; and

• cash payments of US$200,000 on or before each of the first four anniversaries of the effective date of the Definitive Agreement, totaling US$800,000.

Upon exercise of its option and payment of the balance of the consideration, Lighthouse will acquire the vendor's interest in the Property, subject to a 1.0% net smelter returns royalty in favour of the vendor. The Company retains the right to purchase the entire royalty for US$4,000,000. In addition, the Definitive Agreement includes a 10-kilometre Area of Interest provision under which Lighthouse may elect, within 60 days of notice, to add to the Property, at cost, any mineral rights staked or acquired by the vendor or its affiliates within 10 kilometres of the Property during the term of the Definitive Agreement.

The vendor holds its interest in the Property pursuant to an option agreement dated July 8, 2026 (the "Underlying Agreement") with the holder of record of the three mining permits comprising the Property, under which the vendor holds the exclusive right, for a period of five years, to purchase the permits. The vendor is responsible for maintaining the Underlying Agreement in good standing during the term of the Definitive Agreement, and Lighthouse has the right, but not the obligation, to make any payment due under the Underlying Agreement on the vendor's behalf and credit it against the consideration payable to the vendor. Upon exercise of its option, Lighthouse will take an assignment of the Underlying Agreement and be entitled to acquire the permits directly from the permit holder.

The Definitive Agreement with the private vendor grants the Company a four-year option to acquire the Property, subject to the terms and conditions set forth therein and any applicable regulatory approvals required under the laws of Guyana, including, where applicable, any required consents or approvals of the Minister of Natural Resources and/or the Guyana Geology and Mines Commission ("GGMC").

Completion of the acquisition remains subject to customary closing conditions, including completion of the Company's due diligence to its satisfaction, acceptance by the CSE and any remaining regulatory approvals.

The scientific and technical information contained in this news release has been reviewed and approved by Gregory Smith, P.Geo., a director of the Company and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Qualified Person has reviewed available historical technical reports and data sources and considers the information relevant for exploration planning purposes, although certain historical information has not been independently verified.

Stock Option Grant

The Company also announces that it has granted an aggregate of 2,775,000 stock options (the "Options") to directors, officers and consultants of the Company, pursuant to the Company's equity incentive plan. Each option is exercisable to acquire one common share at an exercise price of $0.20 per common share for a period of five (5) years from the date of grant.

About Lighthouse Gold

Lighthouse Gold is a Canadian gold exploration company focused on advancing high-potential exploration and mining assets in Guyana.

ON BEHALF OF THE BOARD OF DIRECTORS

Geoff Balderson
Chief Financial Officer & Director

For further information please contact:

Will Rascan
Interim Chief Executive Officer
will@lighthousegold.com
604-602-0001

Forward-Looking Statements

This news release contains or incorporates by reference "forward-looking statements" and "forward-looking information" as defined under applicable Canadian securities legislation. All statements, other than statements of historical fact, which address events, results, outcomes, or developments that the Company expects to occur are, or may be deemed, to be, forward-looking statements. Forward-looking statements are generally, but not always, identified by the use of forward-looking terminology such as "anticipate," "expect," "suggest," "plan," "believe," "intend,", "intention" "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" and other similar expressions. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to risks and uncertainties associated with receipt of CSE acceptance of the transaction, satisfaction of the conditions of the Definitive Agreement, the making of the payments and the issuance of the Consideration Shares contemplated thereby, the maintenance of the Underlying Agreement in good standing, receipt of any required approvals of the GGMC and/or the Minister of Natural Resources, the exercise of the Company's option, and the Company's planned exploration activities on the Property. Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons, availability of equipment (including drills) and personnel to carry out work programs, that each stage of work will be completed within expected time frames, that current geological models and interpretations prove correct, the results of ongoing work programs may lead to a change of exploration priorities, and the efforts and abilities of the senior management team. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. These and other factors may cause the Company to change its exploration and work programs, not proceed with work programs, or change the timing or order of planned work programs. Additional risk factors and details with respect to risk factors that may affect the Company's ability to achieve the expectations set forth in the forward-looking statements contained in this news release are set out in the Company's latest management discussion and analysis under "Risks and Uncertainties", which is available under the Company's SEDAR+ profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations, and opinions of management as of the date of this press release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.

Copyright (c) 2026 TheNewswire - All rights reserved.

COMTEX_1001297863/2453/2026-10-20T08:01:15