Carlton Precious reports up to 6.7 g/ton gold and up to 493 g/ton silver from rock samples at the Dunfee Nevada Project

Carlton Precious Inc. (TSX-V: CPI | OTCQB: CPIFF) (“Carlton” or the “Company”) is pleased to report the results of a recent rock chip sampling program completed in late 2025 for the Dunfee gold and silver project in Nevada (“Dunfee” or the “Project”). A total of 35 crushed stone samples were collected from mineralized vein structures and dumps, returning results of up to 6.7 grams of gold and silver assays of up to 493 grams of silver. Eight of the 35 samples yielded a silver content of more than 2 ounces per ton or better. Following encouraging field observations, the company deployed an additional 30 lode claims, expanding the project footprint from an initial 23 lode claims to 53, covering approximately 430 hectares.

Dunfee is located in Nevada, 50 miles south of Tonopah and 45 miles northwest of Beatty, within the Walker Lane Gold trend. The project is located approximately 30 miles north of Anglogold’s million-ounce Silicon Gold project and southeast of the historic Gold Point mining camp (see location map). Carlton owns the Project 100%, royalty-free, and has held the Project as an investment property to date.

The high-grade gold-silver veins at Dunfee, the southern extension of the Gold Point District, were mined intermittently during the mid-1800s, with approximately 74,000 ounces reportedly extracted from the Gold Point District (Brook, 2023). To date, at least five major quartz veins with a northwesterly trend have been identified and mapped at Dunfee, consisting of mineralized structures up to four meters wide and outcroppings over strike lengths in excess of 1000 meters (see maps below). These mineralized structures consist of a series of quartz veins, quartz sulfide veins 20 to 30 cm wide, that sit in sheared, altered rock. No fewer than 16 samples had an average of 0.99 g/ton Au and 31 g/ton Ag (see results table below). Samples that yielded higher quality gold and silver test results were typically associated with base metal sulfides and/or pyrite. Many of the samples came from waste dumps and are therefore not considered reflective of the quality of material extracted and processed at the nearby Gold Point facilities.

Table 1. Location and results of the rock chip sampling program.

Carlton is now planning an induced polarization and ground magnetic survey across the project to define the sulphide-rich zones along these mineralized structures, prior to drilling on the project scheduled for mid-2026.

Quality assurance/quality control

Samples were submitted to American Assay Laboratories Inc., Sparks, Nevada, a US ISO/IEC 17025 accredited independent laboratory. Where each sample was screened, milled and split, an analytical technique of 50 gram burn test for Au along with 28 elements ICP and an additional acid digestion of 4 elements for Ag, Zn, Pb and Cu was then applied. No standards have been introduced except internal control standards of laboratories as per industry standard and standards.

Declaration of qualified person

The technical content of this press release has been reviewed and approved by E. Max Baker, B.Sc. Ph.D., an independent consultant to Carlton. Max Baker is a Fellow of the Australian Institute of Mining and Metallurgy, a qualified person as defined by NI 43-101.

About Carlton Precious Inc.

Carlton is a publicly traded precious and base metals exploration company listed on the TSX Venture Exchange. The company is led by a team of experienced mining and geological professionals. Carlton’s projects are focused on major mining jurisdictions including Peru, Australia and Nevada, USA.

For more information, please visit the company’s website: www.carltonprecious.com or contact:

Martin Walter, CEO, Carlton Precious Inc., at +1-416-389-5692 or martin@carltonprecious.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This press release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward-looking information is often identified by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘may’, ‘will’, ‘would’, ‘potential’, ‘proposed’ and other similar words, or statements that certain events or conditions ‘may’ or ‘will’ occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management on the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. For a description of the risks and uncertainties facing the Company and its operations and business, readers should refer to the Company’s management’s discussion and analysis. The Company assumes no obligation to update any forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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