Star Gold Corp.

What they do

Star Gold Corp. acquires and explores precious and base metal deposit properties, primarily gold and silver, and advances them toward production. Its principal asset is the Longstreet Property in Nevada, at an intermediate stage of exploration, comprising 142 mineral claims covering roughly 2,500 acres. The Company owns 137 claims and leases 5 claims, conducts geologic fieldwork, sampling, mapping and drilling to define targets, and may enter joint ventures to fund further work. It has no patents, licenses, franchises or concessions of importance and no producing mines.

Revenue drivers

• No revenue-generating operations — The Company has no producing mines and has not derived any revenue from exploration of its properties; it is entirely pre-revenue.
• Longstreet Property (142 claims, ~2,500 acres) — The Company's sole identified property; owned and leased claims form the entire asset base, with no mineral production or sales to date.
• Net Smelter Royalty obligation — A 3% NSR is payable to Great Basin Resources, Inc. and Clifford following any future Net Smelter Returns; to date the Company has received no Net Smelter Returns.
• Annual advance royalty payment — A $12,000 annual advance royalty payment applies to the Longstreet Property claims; no royalty revenue has been generated.

Recent performance

The Company reported a net loss of $824,850 for fiscal 2026, the largest annual loss in the reported series, compared with $257,386 in 2025 and $237,711 in 2024. Operating cash flow was negative $929,165 in 2026, versus negative $157,294 in 2025 and negative $176,337 in 2024. Diluted EPS was $0.00 in fiscal years 2022 through 2025 and negative $0.01 in 2026. As of July 31, 2026, total assets were $3.0 million, with $2.0 million in cash and equivalents and total liabilities of $417,382. The Company has never reported revenue.

Strategy

The Company plans to assemble a group of mid-stage mineral exploration prospects, primarily gold and silver, using management's experience and contacts, with geographic emphasis on the western United States. It intends to perform basic geologic work to identify drill targets, collect subsurface samples by drilling, and potentially enter joint venture agreements to fund further exploration or development. Specific drill targets have been identified on the Longstreet Property, which management describes as having defined geologic potential and ore deposit models. Management's stated process is to evaluate properties, acquire them through staking or leasing, then conduct detailed evaluation including rock and soil sampling, mapping, geophysics, trenching and drilling. The Company anticipates it will continue to incur operating costs without realizing operating revenues while it explores existing and any future acquired properties.

Risks

• Pre-revenue exploration stage — The Company has never generated revenue and anticipates continuing to incur operating costs without operating revenues while it explores its properties.
• Ability to raise capital — The Company cites its ability to obtain additional capital to develop resources as a risk, and its fiscal 2026 operating cash outflow of $929,165 was covered largely from cash on hand and financing activity.
• Mineral estimates are uncertain — The Company states that estimates of mineralized material are forward-looking and inherently subject to error from geologic uncertainties, sample variability, metal prices, and processing and regulatory changes.
• Dilution from additional financing — The Company lists possible dilution of its common stock from additional financing activities as a specific risk factor.

Outlook

Management identifies the Longstreet Property as having defined geologic potential, ore deposit models and specific drill targets, and describes its plan as continuing exploration and evaluation while seeking joint venture partners to fund further work. The Company cautions that it expects to keep incurring operating costs without operating revenues during exploration, and that it depends on obtaining additional capital to develop any resources. No production, revenue or reserve is projected in the filing excerpts provided.