FOR IMMEDIATE RELEASE — April 7, 2026
Key Highlights
- Scout has initiated Phase I drilling at the Lehman Butte epithermal Au–Ag project, a project generated and now operated by Scout under its Earn-In agreement with Centerra Gold.
- The Phase I program consists of an initial ~2,500-meter, multi-hole core drilling campaign, with the potential for expansion based on results and subject to Centerra’s approval.
- Scout has mobilized two in-house drill rigs and is executing the program as operator at cost plus 20%, reflecting its discovery-to-partnership, vertically integrated model.
Coeur d’Alene, Idaho – April 7, 2026 – Scout Discoveries Corp. (“Scout” or the “Company”) is pleased to announce the initiation of the Phase I core drilling program at its 100%-owned Lehman Butte epithermal gold–silver project in Custer County, Idaho (the “Project”). This program marks the first drilling under Scout’s agreement with Centerra Gold Inc. (“Centerra”). Under the agreement, Centerra may earn up to 70% of the project in two stages by sole-funding US $30 million in exploration costs, previously announced on August 27, 2025. The commencement of drilling at Lehman Butte marks a significant milestone for Scout, as this is another project the team has successfully generated, advanced through systematic targeting and permitting, and is now efficiently drilling as the project operator.
The Phase I program is designed as an initial ~2,500-meter, multi-hole core drilling campaign focused on testing high-priority targets defined through Scout’s systematic surface exploration, geologic mapping, geochemistry, and geophysics. The program may be expanded based on results, subject to approval from Centerra in accordance with the earn-in agreement.
Phase I Drill Targets
The Phase I drill program is designed to test the Lehman Butte epithermal Au-Ag system within a multi-kilometer target area identified by Scout’s earlier targeting work. Previous geologic mapping, rock and soil sampling, and geophysical surveys (IP and Magnetics) have outlined a major three by one-kilometer-wide swarm of banded quartz adularia epithermal veins surrounded by disseminated gold-silver mineralization in permeable volcaniclastic units. Surface samples exhibit gold grades reaching up to 3.1 g/t Au (n=214, average 0.145 g/t Au), with soil sampling delineating a significant gold-in-soil anomaly that underscores the potential for bulk tonnage. Concurrent magnetic low, IP chargeability, and resistivity anomalies corroborate these targets outlined by surface sampling and mapping, and form the primary targets to be tested in this Phase I drill program.
Scout will drill the subvertical vein swarm from the eastern flank with -50-degree holes to test both the bulk tonnage and higher-grade potential within the inferred palaeo-boiling horizon. Further information on the project can be found on Scout’s website: Lehman Butte Project Details.
Scout-Led Operations
Consistent with the terms of the Earn-In agreement, Scout is serving as project operator and is executing the drill program using its in-house drilling and geologic teams. Scout has mobilized two surface core drills to site, enabling parallel drilling on multiple pads and providing flexibility to adapt the program as results are received. Initial program activities in Q1 2026 focused on winter mobilization, pad construction, equipment staging, water management infrastructure, and close coordination with the U.S. Bureau of Land Management. All proposed activities to date — including pad construction, snow plowing, and equipment mobilization — have been approved, and drilling has commenced following completion of these preparatory works.
Geologic logging and core handling are being carried out by Scout’s technical team as drilling progresses, providing real-time feedback to guide ongoing targeting and potential program adjustments. The Company anticipates that results from this Phase I program will inform subsequent drill planning and the potential expansion of drilling under the Earn-In structure.
Earn-In Agreement with Centerra Gold
As previously announced, Centerra has the right to earn up to a 70% interest in the Lehman Butte project by investing up to US$30.0 million over two stages, with Scout remaining the initial project planner and operator. This Phase I program represents the first substantive drilling campaign under the earn-in structure and reflects the parties’ aligned objective of efficiently advancing the project toward discovery and potentially advanced-stage exploration.
Scout’s role as operator allows for continuity of technical vision from initial surface work beginning in 2018, through permitting and execution, while leveraging Centerra’s capacity to scale with exploration success. The collaboration is a direct expression of Scout’s discovery-to-partnership business model, whereby projects are internally generated, advanced through drilling with in-house capabilities, and partnered to pursue discovery at scale.
Looking Ahead
With drilling now underway, Scout will continue to work closely with Centerra through the technical committee to review results, refine targets, and evaluate opportunities to expand the Phase I program. The Company believes Lehman Butte represents a compelling example of Scout’s ability to generate high-quality projects, advance them efficiently with internal capabilities, and work with a quality partner to pursue discovery at scale. Assays will be released when the target is sufficiently tested and results support a decision to continue moving the project ahead — consistent with Scout’s philosophy of systematically moving projects through its pipeline.
About Centerra Gold Inc.
Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold and copper properties in North America, Türkiye, and other markets worldwide. Centerra operates two mines: the Mount Milligan Mine in British Columbia, Canada, and the Öksüt Mine in Türkiye. The Company also owns the Kemess Project in British Columbia, Canada, the Goldfield Project in Nevada, United States, and owns and operates the Molybdenum Business Unit in the United States and Canada. Centerra’s shares trade on the Toronto Stock Exchange under the symbol CG and on the New York Stock Exchange under the symbol CGAU. The Company is based in Toronto, Ontario, Canada.
About Scout Discoveries Corp.
Scout Discoveries Corp., headquartered in Coeur d’Alene, Idaho, is a private U.S. mineral exploration company with rights to twelve separate precious and base metal projects in the western U.S.A., comprising one of the largest unpatented claim holdings in the region, totaling over 50,000 acres. Scout’s vision is to bring the full discovery process in-house from idea generation through resource drilling, lowering costs and increasing efficiency. With this model, the Company can rapidly advance its project portfolio through discovery by leveraging its five internal core drill rigs and experienced technical teams. For further information visit: www.scoutdiscoveries.com
Contact Information
Curtis L. Johnson
President & CEO
Email: info@scoutdiscoveries.com
Phone: +1 (208) 551-3878
Forward-Looking Statements
Certain statements in this news release are forward-looking and involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes,” “anticipates,” “expects,” “estimates,” “may,” “could,” “would,” “will,” or “plan.” Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.