Star Gold Corp. Reports $824,850 Net Loss and Increased Operating Expenses for Fiscal Year Ending April 30, 2026

Star Gold Corp. reported a net loss of $824,850 for the fiscal year ending April 30, 2026, a significant increase from the previous year's loss of $257,386. The company's total operating expenses rose to $774,959, up from $203,028 in the prior year, primarily due to increased pre-development expenses, legal and professional fees, and management costs. The company did not generate any revenue during this period, consistent with its ongoing exploration stage and focus on permitting activities for its Longstreet Property in Nevada.

The financial performance reflects a strategic shift in the company's operations, with pre-development expenses soaring to $231,565 from just $8,794 in the previous year. This increase is attributed to costs associated with environmental and anthropological studies necessary for developing a Plan of Operations and obtaining mining permits. Legal and professional fees also rose sharply, indicating heightened activity in compliance and corporate transactions. The company’s accumulated deficit now stands at $13,939,775, up from $13,114,925 in the previous year.

Star Gold Corp. has made notable progress in its capital structure, raising $2,984,000 through a private placement of common stock and extinguishing $671,450 in promissory notes. As of April 30, 2026, the company reported total assets of $2,851,738, a substantial increase from $707,358 the previous year, largely due to the influx of capital. The company’s working capital improved significantly to $2,023,819, compared to a deficit of $670,822 in the prior year, indicating a stronger liquidity position.

Operationally, Star Gold Corp. continues to focus on its Longstreet Property, which comprises 142 mineral claims covering approximately 2,500 acres. The company has not engaged in exploration activities since 2015 but plans to conduct hydrology drilling and geochemical analysis as part of its permitting process. The company aims to prepare an Environmental Impact Statement (EIS) and a comprehensive mine plan, contingent on favorable results from these activities.

Looking ahead, Star Gold Corp. anticipates that securing additional financing will be crucial for advancing its exploration and development efforts. The company is exploring various funding options, including potential mergers, joint ventures, and further equity placements. However, management acknowledges that there are no guarantees regarding the availability of financing on favorable terms, which could impact the company's ability to continue its operations and pursue its strategic objectives.