Dryden Gold Reports Closing of Centerra Top-Up Shares

• Event: Dryden Gold Corp. closed a share issuance to Centerra Gold Inc. on April 29, 2026.
• Transaction: Issuance of 440,000 common shares at $0.32 per share for total consideration of $140,800.
• Purpose: Exercise of "top-up right" under the December 17, 2024 Investor Rights Agreement (IRA) to maintain Centerra's 9.99% interest following Q1 2026 share issuances.
• Context: This follows the April 27, 2026 announcement of an upsized equity financing raising up to $9,716,280 via flow-through and charity flow-through shares.
• Use of Proceeds: General corporate purposes for Dryden Gold; Centerra's investment is strategic stake maintenance rather than new capital injection into the company treasury beyond the April 27 tranche.

• Capitalization Confirmation: The closing validates the financing structure announced on April 27, confirming that major strategic investors (Centerra and Alamos) are fulfilling their commitments to maintain ownership percentages during dilutive financings.
• Dilution Reality Check: While positive for operational funding, the issuance of 440,000 shares adds to the significant dilution from the April 27 financing (up to 23,000,000 shares). The total share count increase represents approximately 10% of the pre-financing outstanding base.
• Strategic Endorsement: Centerra Gold maintaining a ~10% stake signals confidence in the district-scale exploration model, reducing counterparty risk regarding future partnership or acquisition potential.
• Market Impact: The news is largely priced in following the April 27 financing announcement. The $140,800 transaction size is immaterial to the company's overall treasury ($9M+ cash position), making it administrative rather than transformative.

• Strategy: Building a high-grade gold portfolio in the Dryden District, Ontario, leveraging extensive regional expertise and strategic land ownership (~803 km² / 80,339 ha).
• Flagship Project: Gold Rock Camp (Elora/Jubilee/Big Master systems). Recent drilling has intersected ultra-high-grade intervals (e.g., 1,930 g/t Au over 0.60m) and multiple stacked structures.
• Secondary Targets: Hyndman (intrusion-hosted gold similar to Goldlund deposit), Sherridon (broad bulk-tonnage potential), and Mud Lake (periodicity testing).
• Stage: Exploration. No NI 43-101 resource estimate has been disclosed; company is in the discovery/definition phase.
• Infrastructure: Excellent access with grid power, roads, and highway proximity on key properties like Hyndman.