Star Gold Corp.

Star Gold Corp.

Business overview

Star Gold Corp. is an exploration-stage mineral company focused on acquiring and advancing gold and silver prospects toward production. Its primary asset is the Longstreet Property in Nye County, Nevada. The company conducts operations mainly through independent contractors.

Longstreet Property

• Size and composition: approximately 142 mining claims totaling about 2,500 acres (1,012 hectares). This includes 75 originally optioned claims, 70 unpatented staked claims, and 5 claims leased or owned from Clifford.
• Ownership and leases: Star Gold owns 137 claims and leases 5 Clifford claims. The property has a history of assignments and quitclaims involving MinQuest, Great Basin Resources, Inc., and Clifford.
• Royalties and payments:
  • 3% Net Smelter Royalty (NSR) on the property, payable within 30 days after the end of the calendar quarter in which net smelter returns are received.
  • A 2% NSR related to the Clifford claims is included within the overall 3% NSR.
  • Annual advance royalty of $12,000 tied to the Clifford claims.
• Key agreements and history:
  • Longstreet Agreement (lease with option to acquire) originally entered in 2010 and amended in 2019 to remove property expenditure requirements.
  • In 2020, Star Gold accelerated payment to Great Basin in exchange for a quitclaim deed on the Longstreet claims.
  • In 2022, Great Basin filed an amended quitclaim deed and assignment to correct transfer details and memorialize the Clifford leases.

Exploration history and geology

• Exploration history:
  • First vein mapping in 2002 and historic drilling between the 1980s and 2005.
  • A 16-hole drill program at the Main target in 2011.
  • A 2013 metallurgical test program evaluating bottle roll and column leach scenarios.
  • No exploration drilling activity since 2015; subsequent work has included wildlife studies, feasibility studies, archaeological work, and preparations to obtain a Forest Service Plan of Operations for permitting.
• Geological context and target styles:
  • The property lies in the Monitor Range within the Basin and Range Province. Mineralization is associated with east-trending faults and sheeted vein systems.
  • Targets include potential near-surface open-pit, heap-leach mineralization and higher-grade vein systems in zones such as Cyprus that may be amenable to underground mining.
  • Historical data show variably anomalous gold and silver values and some high-grade intercepts in drill results.

Permitting and environmental

• A Forest Service Plan of Operation is in place for exploration drilling.
• The company paid a surface disturbance bond of $89,400, held by the Forest Service until reclamation is completed.

Financial and operating snapshot (as of 2026 10-K)

• Revenue and earnings:
  • No revenue from mining operations to date; the company remains in the exploration stage.
  • Net loss for the fiscal year ended April 30, 2026: $824,850 (related to maintenance and exploration of mineral properties and ongoing exploration activities).
• Costs and filings:
  • Annual claim filing fees in 2026 totaled $30,866 (including BLM fees of $200 per claim and Nye County/Nevada filing fees).
• Personnel:
  • The company has no employees and relies on management and independent contractors to conduct operations.

Corporate and market information

• Headquarters: 174 E. Neider Ave., Suite 222, Coeur d’Alene, ID 83815; Phone: (208) 664-5066.
• No owned real property; operations are office-based.
• Market status: Common stock is quoted on OTC Markets and is classified as a penny stock, which may affect liquidity and trading practices.
• Capital structure and potential dilution:
  • Outstanding warrants: 45,973,125 common share purchase warrants (exercisable into 45,973,125 shares).
  • Outstanding options: 9,900,000 options (exercisable into 9,900,000 shares).
  • If all warrants and options are exercised, they could represent about 22.4% of the company’s then-outstanding shares.
  • Directors and officers hold approximately 20.0% of the outstanding common stock (40,172,729 shares), which could influence corporate actions.

Insurance and risk profile

• The company identifies exposure to typical mining exploration hazards and states it does not carry insurance for certain risks and has no plan to obtain such insurance in the foreseeable future.
• Key risks include metal price volatility, exploration risk, permitting and environmental compliance, and potential dilution from future financing.

Summary

Star Gold Corp. is an exploration-stage company focused on the Longstreet Property in Nevada. The property carries royalty obligations and has a documented history of mapping, drilling, and metallurgical testing. The company has no mining revenue, operates through contractors, and faces typical exploration-stage risks including permitting, financing timing, dilution, and commodity price exposure.