Evergold options full interest in Copper King prospects

Executive Summary

• Evergold Corp. entered a definitive option agreement to acquire 100 % of four inlier claim groups (173 ha) on its Golden Lion property, subject to a share consolidation and regulatory approvals.
• The acquisition consideration is 533,332 post‑consolidation Evergold shares issued in three tranches (July 2 2026, July 2 2027, and one week after consolidation).
• Upon exercise, the optionors will receive a 2.5 % net smelter return royalty, with an optional buy‑back of 1.5 % for $1.5 million.

Key Details

• Option Agreement Date: August 20 2025.
• Optionors: Richard Billingsley and Gaye Richards.
• Target Assets: Four inlier claim groups – Goat, Chuck, Copper King, and Claw (total 173 ha) within the northern half of Evergold’s Golden Lion property.
• Share Consolidation Requirement: 10 pre‑consolidation common shares for each post‑consolidation share; must be approved by two‑thirds of shareholders and the TSX Venture Exchange.
• Consideration – Share Issuance:
• 133,333 post‑consolidation shares issued one week after consolidation effective date.
• 133,333 post‑consolidation shares issued on July 2 2026.
• 266,666 post‑consolidation shares issued on July 2 2027.
• Hold Period: All issued shares subject to a four‑month‑plus‑one‑day hold from issuance date.
• Royalty Terms: 2.5 % net smelter return royalty granted to optionors; 1.5 percentage points may be repurchased by Evergold for $1.5 million.
• Regulatory Conditions: Completion contingent on TSX Venture Exchange approval and shareholder approval of the consolidation.
• Historical Exploration Context:
• 1975 drilling at Claw (five shallow holes) noted copper mineralization but were not assayed.
• 1984 rock sampling identified high‑grade copper and silver in vein‑fracture systems; no further work conducted since.
• Qualified Person: Charles J. Greig, MSc, PGeo – Chief Exploration Officer, NI 43‑101 qualified.

Notable Quotes

(No direct quotes were provided in the release.)