Boreal Gold Closes the First Tranche Private Placement for $101,250.00

Executive Summary

• Boreal Gold Inc closed the first tranche of a non‑brokered private placement, raising $101,250 through the sale of 337,500 Flow‑Through Shares at $0.30 each.
• Proceeds are earmarked for extensive ground geophysical work and drilling on three key properties (Fay Lake, North Star, Melgurd) to advance VMS and gold exploration programs.
• The company outlined detailed 2025 exploration plans, including target development, line‑cutting, mapping, sampling, and resource‑building drill campaigns across the newly acquired and existing assets.

Key Details

• Financing Terms – 337,500 Flow‑Through Shares sold at $0.30 per share; gross proceeds of $110,250; net cash received $101,250 after placement costs.
• Regulatory Conditions – Closing subject to receipt of all required regulatory approvals; shares carry a four‑month statutory hold period ending March 1 2026.
• Properties Highlighted
• Fay Lake (Manitoba) – 17 contiguous claims, 2,719 ha; VMS horizons similar to Hudbay’s Vamp Lake; shear structure with assays up to 14.33 g/t Au.
• Melgurd (Saskatchewan) – 11 claims, 7,411 ha; EM and magnetic anomalies extending from Shotts Lake VMS deposit; notable garnet‑anthophyllite alteration and gossans.
• North Star Group (Manitoba) – 2,922 ha across three contiguous properties; proximity to Hudbay’s Rail Zone copper deposit and former Dickstone Cu‑Zn mine.
• Planned Exploration – Fay Lake
• Ground geophysical surveys on western and northeastern grid portions to confirm airborne conductors.
• Drill testing of identified targets pending financing, with consultation from Kiciwapa Cree Nation.
• Additional mapping, prospecting, sampling, and line‑cutting on unmapped Redwin VMS horizon; gold trend work targeting up to 14.33 g/t Au zones.
• Planned Exploration – North Star
• Refurbishment and recutting of legacy grid (Lines 46‑59 N) for mapping and drilling.
• Comprehensive geological remapping, sampling, and line‑cutting across the entire grid system.
• Selective infill and down‑plunge drilling on Gold Rock Vein to enable a resource estimate and NI 43‑101 technical report; aim to build a combined resource sufficient for a prefeasibility study.
• Planned Exploration – Melgurd Lake
• Ground‑truthing of airborne geophysical conductors aligned with Shotts Lake deposit.
• Detailed mapping, prospecting, sampling, and line‑cutting on the Keep Lake grid; follow‑up technical reporting planned.
• Use of Proceeds Summary – Geophysical surveys, drilling, detailed mapping, line‑cutting, and sampling across all three properties to advance VMS and gold exploration objectives.
• Qualified Person – Stephen L. Masson, M.Sc., P.Geo., acting as consulting geologist, reviewed and approved the technical disclosure per NI 43‑101 standards.

Notable Quotes

“The successful close of this financing provides us with the capital needed to accelerate our exploration program on Fay Lake, North Star, and Melgurd, positioning Boreal Gold for significant resource growth.” – Richard Masson, President & CEO.