Gold Candle Continues to Improve Continuity and Grades of Open Pit Mineralization at Kerr-Addison

TORONTO, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Gold Candle Ltd. (Private) (the “Company”) is pleased to provide additional assay results returned from delineation drilling targeting stacked footwall lenses within, and immediately adjacent to, the existing Kerr-Addison open pit mineral resources. The drilling was part of the previously reported Open Pit Infill and Chesterville East (CVE) exploration program (14,100 metres over 49 holes) completed in 2025.

The assays from the Footwall Main Zone drilling returned higher grade intervals than widely spaced historic drilling and outline the potential for a mineralized corridor of three to four stacked lenses, striking northeast for approximately 400 metres with a width of approximately 300 metres, located immediately southeast of the Kerr-Addison main zone (Figure 1). Using a 20 GXM (grams per tonne x metres) threshold, 10 holes returned significant intercepts with six of the 10 holes including gold grades over 1.35 grams per tonne where the May 2025 InnovExplo block model had interpolated limited mineralization:

• KAD25-369: 212.00 - 226.48 m; 14.48 m @ 1.99 g/t
• KAD25-378: 185.00 - 228.70 m; 43.70 m @ 1.45 g/t
• KAD25-382: 125.00 - 160.25 m; 35.25 m @ 1.81g/t
• KAD25-383: 44.68 - 89.00 m; 44.32 m @ 1.36 g/t
• KAD25-387: 226.00 - 241.00 m; 15.0 m @ 1.76 g/t
• KAD25-389: 139.20 - 153.00 m; 13.80 m @ 1.80 g/t

The other four of 10 significant intercepts successfully upgraded resource classification by achieving the 60-metre planned drill spacing (Figure1):

• KAD24-359: 6.00 – 24.00 m; 18.00 m @ 1.77 g/t
• KAD25-373: 410.39 – 420.72 m; 10.33 m @ 2.28 g/t
• KAD25-374: 32.00 – 52.00 m; 20.00 m @ 3.42 g/t
• KAD25-384: 385.00 – 406.60 m; 21.06 m @ 1.60 g/t

Rick Howes, Chief Executive Officer of Gold Candle Ltd., stated, “We are very pleased with these latest results as they continue to demonstrate the potential for the stacked footwall zones to develop a level of continuity that, with more drilling, should positively impact our mineral resource inventory. Further, the conversion of tonnes, that were previously estimated as very low grade or waste, to economic ore is very positive for our eventual operating plans and project economics.”

As the Company’s focus has increasingly shifted to drilling for potential increases in the existing open pit mineral resource at Kerr-Addison, Gold Candle looks forward to providing further exploration updates in the coming months.

Figure 1

Figure 1 – Surface Composite Plan view of Kerr-Addison Project. Pit shell constrained MRE Potential Resource Class wireframes and block model Au ppm grades highlighted, refer to Au ppm legend. Significant reported Footwall Main Zone drill hole traces in red. Drill traces coloured blue are pending assay results. Dashed yellow lines represent Cross Sections shown in Figures 2A through 2C, from west to east, looking northeast.

Cross Section 2A, Looking Northeast, KAD25-382      

Cross Section 2B, Looking Northeast, KAD25-383, 387

Figures 2A, 2B – Cross Sections Looking Northeast +/- 12.5 m influence. Predrilling block model filled mineralization zones colour coded by resource classification; green=indicated, orange=inferred, blue=potential. Drill hole traces colour coded by Gold Assays (ppm) refer to assay legend. Grade thickness (GxM) histograms colour coded with significant intercepts > 20 GxM with length weighted assay pull outs.

Cross Section 2C, Looking Northeast, KAD25-374, 378, 359, and 369

Figure 2C – Cross Section Looking Northeast +/- 12.5 m influence. Predrilling block model filled mineralization zones colour coded by resource classification; green=indicated, orange=inferred, blue=potential. Drill hole traces colour coded   by Gold Assays (ppm) refer to assay legend. Grade thickness (GxM) histograms colour coded with significant intercepts > 20 GxM with length weighted assay pull outs.

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

Contact
Hannes Portmann
Chief Financial Officer
hportmann@goldcandle.com

Photos accompanying this announcement are available at:
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Figure 1

Surface Composite Plan view of Kerr-Addison Project. Pit shell constrained MRE Potential Resource Class wireframes and block model Au ppm grades highlighted, refer to Au ppm legend. Significant reported Footwall Main Zone drill hole traces in red. Drill traces coloured blue are pending assay results. Dashed yellow lines represent Cross Sections shown in Figures 2A through 2C, from west to east, looking northeast.

Cross Section 2A, Looking Northeast, KAD25-382 

Figure 2A: Cross Sections Looking Northeast +/- 12.5 m influence. Predrilling block model filled mineralization zones colour coded by resource classification; green=indicated, orange=inferred, blue=potential. Drill hole traces colour coded by Gold Assays (ppm) refer to assay legend. Grade thickness (GxM) histograms colour coded with significant intercepts > 20 GxM with length weighted assay pull outs.

Cross Section 2B, Looking Northeast, KAD25-383, 387

Figure 2B: Cross Sections Looking Northeast +/- 12.5 m influence. Predrilling block model filled mineralization zones colour coded by resource classification; green=indicated, orange=inferred, blue=potential. Drill hole traces colour coded by Gold Assays (ppm) refer to assay legend. Grade thickness (GxM) histograms colour coded with significant intercepts > 20 GxM with length weighted assay pull outs.

Cross Section 2C, Looking Northeast, KAD25-374, 378, 359, and 369

Figure 2C – Cross Section Looking Northeast +/- 12.5 m influence. Predrilling block model filled mineralization zones colour coded by resource classification; green=indicated, orange=inferred, blue=potential. Drill hole traces colour coded   by Gold Assays (ppm) refer to assay legend. Grade thickness (GxM) histograms colour coded with significant intercepts > 20 GxM with length weighted assay pull outs.

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