Cosigo Resources Completes Drilling Campaign at Taraira and Announces Non-Brokered Convertible Debenture Financing

Cosigo Resources Ltd. (CSG) announced a non-brokered convertible debenture financing of up to CAD$115,500. The debentures carry a 15% annual interest rate, payable at maturity, with a six-month term. Automatic conversion is triggered at $0.05 per Unit. Each Unit includes one common share and one warrant exercisable at $0.05 for one year.

Insider participation is confirmed from CEO Robert Collawn, President & COO Andy Rendle, and Director Ian Gibson. Proceeds are designated for assay costs related to coarse-gold testing, general working capital, and ongoing exploration at the Taraira property.

The company completed drilling holes #26 through #30, extending cumulative ridge coverage to 5.5 km of the 27 km Taraira system. Core processing is underway, with results expected in up to six weeks due to logistical constraints. Early assay comparisons highlight the "nugget-effect" variability in coarse gold. Chrysos PhotonAssay and metallic screen analyses show higher or more consistent grades in select intervals (e.g., Hole 22 Sample 69: 1.74 g/t original vs. 3.44 g/t PhotonAssay).

Future drilling campaigns are targeted for 2027.

Cosigo Resources Ltd. (CSG) has secured CAD$115.5k in financing, providing essential liquidity to the pre-revenue explorer amid a confirmed going concern warning and tight working capital. The conversion price of $0.05 is below both the recent market price of $0.06 and previous placement prices of $0.08, indicating incremental dilution.

An operational update revealed that drilling has covered only 5.5 km of a 27 km target, with a full campaign not expected until 2027. This does not materially accelerate the resource definition timeline.

The company also announced a shift in assay methodology toward Chrysos PhotonAssay and metallic screen analysis to address historical underestimation of coarse gold grades. While preliminary, this technical pivot suggests potential upside in resource estimates once standardized, but does not yet de-risk the project or confirm economic viability.

Cosigo Resources Ltd. (CSG) is a pre-revenue junior exploration company focused on mineral acquisition and exploration in Colombia and Brazil. Its flagship asset is the Taraira Ridge gold property in Colombia, a system spanning approximately 27 km, with current drilling covering 5.5 km. The project features coarse, heterogeneously distributed gold deposits that require specialized assay and processing methods.

Secondary properties include Willow Creek in Nevada and Damian in Colombia, though Taraira remains the primary focus. To support operations, the company has invested in on-site processing infrastructure, including a pulverization mill, gravity concentration lab, and enhanced centrifuge systems. These investments aim to reduce reliance on international labs and enable near real-time targeting.