Arya boosts Wedge Lake drill holes, arranges financings

Executive Summary

• Arya Resources is expanding its Wedge Lake gold project drilling program to a total of 20 holes following positive exploration results.
• The company announced two concurrent financing offerings—$600 k flow‑through shares at $0.40 each and $600 k non‑flow‑through shares at $0.30 each—to fund the expanded drill campaign, geological studies, and working capital.
• Proceeds are intended to accelerate exploration, delineate mineralization, and create additional shareholder value.

Key Details

• Drilling Expansion: Total planned drill holes increased from current count to 20 to further assess mineral potential at Wedge Lake, Saskatchewan.
• Financing – Flow‑Through Offering:
• Target gross proceeds: $600,000
• Share price: $0.40 per flow‑through share
• Structure provides tax deductions for Canadian exploration expenses.
• Financing – Non‑Flow‑Through Offering:
• Target gross proceeds: $600,000
• Share price: $0.30 per non‑flow‑through share
• Funds to be used for general working capital and corporate operations.
• Total Capital Raised: $1.2 million (combined offerings).
• Use of Proceeds:
• Finance expanded drilling program at Wedge Lake.
• Conduct geological studies.
• Provide general working capital for ongoing exploration activities.
• Approvals Required: Subject to TSX Venture Exchange approval and customary closing conditions.

Notable Quotes

• “We are encouraged by the progress of our current drilling program… These financings provide the capital required to move our plans forward in a disciplined manner and position the company to build long‑term value for shareholders.” – Rasool Mohammad, CEO
• “These next holes will give us a better understanding of the mineralization on our gold property.” – Peter Deacon, Director