RPX Gold Inc. Delivers Robust Preliminary Economic Assessment and Updated Mineral Resource Estimate for Wawa Gold Project
Press Release
Highlights
⦁ After-tax NPV5% C$523 million and after-tax IRR of 99.7% at a base case gold price of US$3,500/ounce (“oz”) and an after-tax NPV5% of C$935M and an IRR of 181% at a gold price of US$4,500/oz
⦁ Base case average annual after-tax free cash flow1 (excluding initial capital expenditures) of C$85M and cumulative after-tax free cash flow of C$767M; first 5 years of production $354 M after-tax free cash flow (excluding initial capital expenditures)
⦁ LOM Cash Costs1 of US$1,835/oz and All-In Sustaining Costs (“AISC”)1 of US$2,149/oz at the base case gold price
⦁ 81% of the gold production coming from Indicated resources
⦁ Initial Capital: ~C$51 million
⦁ Payback Period: <1 year
⦁ Phased open-pit and underground development utilizing toll milling
Toronto, Ontario – February 18, 2026 – RPX Gold Inc. (“RPX Gold” or the “Company”) (TSXV: RPX) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) for its 100%-owned Wawa Gold Project (the “Project”) located in northwestern Ontario, Canada. The PEA was prepared by DRA Americas Inc. (“DRA”), in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”). All amounts are in Canadian dollars, unless otherwise stated.
The PEA outlines a phased development plan beginning with open pit mining of near surface mineralization followed by underground mining. The Project has been evaluated at a life of mine (“LoM”) average of 2,000 tonnes per day (“ t/d”) of Run of Mine (“ROM”) and demonstrates strong economics using a long-term gold price of US$3,500/oz (the “Base Case”), and enhanced economics using a long-term gold price of US$4,500/oz (the “Upside Case”). Readers are cautioned that at this time no production decision in respect of the Project has been made. Any such decision will be dependent on further exploration and the preparation of a feasibility study which has not been completed, as well as other factors.
The PEA is supported by an updated mineral resource estimate (“2026 MRE”), which resulted in a 48% increase in indicated ounces of gold (compared to the 2024 MRE announced on September 4, 2024), showing improved confidence in the estimation upon which the PEA is based. The 2026 MRE is inclusive of an open pit- and underground mineral resource, prepared by WSP Canada Inc. (“WSP”).
Michael Michaud, President and CEO of RPX Gold commented: “the PEA marks a significant milestone for RPX Gold, outlining an expedited, phased development plan, transitioning from open pit to underground mining, with a low-capital path to the first stage of gold production. This mining scenario leverages existing infrastructure and nearby milling capacity that potentially eliminates the need for a mill or tailings facility, streamlining both permitting and construction. The PEA validates the Wawa Gold Project as a highly attractive development opportunity with substantial exploration upside. In the event a production decision is made, the low risk, staged development approach provides an opportunity to generate cash flow from the initial open pits to be used to further explore and develop the larger mineral resource.”
IBF4
