Siren Gold Limited provided an extensive update on its Sams Creek Project in Golden Bay, New Zealand, outlining significant development potential for what could become one of the country’s most attractive new gold developments. The project is centered on a gold‐mineralised porphyry dyke that extends for 7 km along strike, is up to 50 m thick and has a vertical extent of at least 1 km. Current drilling has defined a Mineral Resource Estimate of approximately 953,000 oz at an average grade of 2.4 g/t gold using a 1 g/t cut‐off. This estimate comprises 327,000 oz in the Indicated category and 626,000 oz inferred in a key area known as the Main Zone. Recent drilling results have emphasized the complexity of the deposit, revealing that the gold mineralisation is hosted within gently NE plunging folds. In particular, the Main Zone fold, which has been the focus of over 90% of the 21,500 m diamond drilling program completed to date, remains open at depth. Alongside, the Doyles fold—located about 500 m to the west—was intersected in deep holes with promising intersections such as 11 m at 2.01 g/t and 13 m at 3.14 g/t gold. The discovery of additional mineralised shoots beneath the initial design depth indicates that the intensity of gold grades may be increasing along steeper limbs, suggesting the potential for a significant resource upgrade. The technical details further include recent drillholes such as SC108 and SC109, which encountered 25 m thick sections of the mineralised dyke with zones of arsenopyrite veining. These intersections, along with similar structures identified at Western Outcrops, Anvil, and other targets, provide a compelling case for the expansion of the current resource base beyond the initial figure. Plans are in place for a vigorous infill drilling campaign on the SE Traverse, Carapace, and Main Zone by the end of Q2 2026 to upgrade the majority of the Inferred Mineral Resource into the higher confidence Indicated category. An updated Mineral Resource Estimate and an improved Scoping Study are anticipated to be released in Q3 2026. Siren Gold Limited also highlighted the progress on its mining permit application, which was lodged with New Zealand Petroleum & Minerals in March 2025, with a decision expected by the end of the year. The project’s proposed design includes a centrally accessed underground mine that would allow additional mineralisation from several fold targets to be processed at a nearby SE Traverse facility, underpinning a low operating cost profile. Economic assessments underpinning the Scoping Study were based on a gold price of US$2,500 per oz and a robust metallurgical recovery of 90%. The news carries both bullish and bearish sentiments. On the positive side, the technical indicators and encouraging drill results demonstrate vast expansion potential and higher-grade zones that could result in an impressive resource upgrade. The imminent permit decision coupled with planned infill drilling supports a strong re-rating proposition for Siren Gold Limited, with prospects of a long mine life and efficient, low-cost operations. Conversely, risks remain as a significant proportion of the resource is still classified as Inferred, and the project remains underexplored with further drilling needed to fully delineate the extent of the mineralisation. The upcoming permit decision and technical work carry inherent uncertainties, and any delay or adverse outcome could impact project economics and market sentiment.