Corporate Update - QCM Property Exploration Update

CALGARY, AB / ACCESS Newswire / August 13, 2026 / Kestrel Gold Inc. ("Kestrel" or the "Corporation") (TSXV:KGC) is pleased to provide shareholders and the investment community with an exploration update on its 100%-owned QCM Property, located in the Manson-Germanson District of British Columbia, where Centerra Gold Inc. ("Centerra") (TSX:CG)(NYSE:CGAU) is advancing an option earn-in program with CGSI as project operator. This release summarizes highlights from the 2026 surface exploration program completed in the second quarter of 2026, and from Centerra's 2025 diamond drill program, completed in the fourth quarter of 2025. Figure 1: QCM Property overview showing the 2026 planned soil sampling grid (Priority 1-3 areas), historic gold showings, and the Main Zone / 14 Vein drill target areas. Source: Centerra Gold.

Following the 2025 drill program, Centerra conducted a regional soil sampling, prospecting, and structural mapping program at QCM during June 2026, focused on the historical Flagstaff showing and surrounding target areas. Field crews mobilized to site on June 9, 2026, with geological and geochemical activities conducted from June 13 to June 25, 2026. * 784 of 1,011 planned Priority 1 soil samples were collected, completing the Priority 1 sampling program; remaining planned sites could not be sampled due to unfavourable ground conditions (glaciofluvial cover, insufficient fine material, or wetland terrain) * 96 of 364 planned Priority 2 soil samples (26%) were collected, with the program continuing * 100 rock samples were collected across the property * 59 outcrop exposures were documented and 40 high-confidence structural measurements were recorded Figure 6: 2026 soil and rock sample coverage completed to date across the QCM block, by priority area.