Vancouver, British Columbia — June 11, 2026 (TheNewswire)
Karus Mining Inc. is pleased to announce the commencement of exploration activities on its South Cariboo Gold District project in British Columbia, including the mobilization of a drill rig to support a 7,500 metre drill program targeting the FG Gold property.
2026 Exploration Objectives
- Deliver a focused drill program to expand the two higher-grade vein corridors discovered in 2020/21, each extending 650 metres along strike and open to the northwest.
- Drill-test the highest-priority targets across 20+ kilometres of prospective trend at FG Gold.
- Complete an initial 7,500 metres of core drilling, with the option to expand the program.
Geological Framework
FG Gold is a sediment-hosted orogenic gold deposit with predictable structural controls. Gold mineralization concentrates in zones of increased quartz veining related to deformation of the host sedimentary rocks, controlled by the Eureka Syncline and associated parasitic folds that create regularly-spaced mineralized corridors.
Mineral Creek
Karus is integrating historical geological data for its Mineral Creek project, located approximately 11 kilometres south of Port Alberni, British Columbia, to define drill targets for a second-half 2026 program.
Stock Options
The Board has approved the grant of 2,000,000 incentive stock options at an exercise price of C$0.85 per share, expiring June 11, 2031, with vesting in three tranches through 2028.
About Karus Mining
Karus is the 100% owner of the ~995 km² South Cariboo Gold District, which includes the drill-stage FG Gold and Gold Creek projects in British Columbia, and also controls the Mineral Creek gold exploration project, centred approximately 10 kilometres from Port Alberni on Vancouver Island. Karus is the result of the merger of Karus and Theia Gold Corp — Theia having been founded by a number of mining and finance professionals, and Karus having been originally financed by Yamana Gold, whose former executives founded Theia and were instrumental in the merger.
For more information, contact Investor Relations at info@karusmining.ca.
Forward-looking statements. This release contains forward-looking information within the meaning of applicable Canadian securities laws. Actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which speak only as of the date of the release.