Boreal Gold Announces the Closing of the Private Placement for $57,700.00

Executive Summary

• Boreal Gold Inc. closed a private‑placement financing of $57,700, issuing 104,000 Flow‑Through Shares at $0.30 and 132,500 Units at $0.20.
• Proceeds are earmarked for extensive exploration work in 2025‑26 on the Fay Lake, North Star, and Melgurd Lake properties, including ground geophysics, mapping, sampling, and planned drilling.
• The company outlined detailed target development and grid refurbishment plans, with further financing expected to support 2026 drill programs and a future NI 43‑101 resource estimate.

Key Details

• Financing Structure – Non‑brokered private placement:
• 104,000 Flow‑Through Shares @ $0.30 each → $31,200 gross proceeds.
• 132,500 Units @ $0.20 each → $26,500 gross proceeds.
• Each Unit consists of one common share and one warrant (exercise price $0.20, 24‑month term).
• Regulatory Conditions – Closing subject to required approvals; securities under a four‑month statutory hold period ending May 1 2026.
• Property Overviews –
• Fay Lake (Manitoba): 17 claims, 2,719 ha; VMS horizons and a 9 km shear zone with assays up to 14.33 g/t Au.
• Melgurd Lake (Saskatchewan): 11 claims, 7,411 ha; EM conductors and magnetic trends extending from the Shott Lake VMS system.
• North Star Group (Manitoba): 2,922 ha across three contiguous properties, adjacent to Hudbay’s Rail Zone copper deposit.
• Planned Exploration (2025‑26) – Airborne target verification, ground geophysics, detailed geological mapping, prospecting, and sampling on all three properties.
• Use of Proceeds – North Star – Completion of line cutting/refurbishing old grids (Lines 46 N–59 N), remapping and sampling of grids south of Line 46 N, pending assay results from 12 quartz‑vein samples (results pending).
• Use of Proceeds – Fay Lake – Ground geophysical surveys on western and north‑eastern grid extensions, assay of rock samples from the Fay grid and Koscielny Lake, preparation of geological maps/reports, and future drill testing subject to additional financing.
• Use of Proceeds – Melgurd Lake – Assays and map/report preparation for the summer mapping of the Keep Lake grid.
• Future Drilling Plans (2026) – Selective infill and down‑plunge drilling on the Gold Rock Vein to enable a NI 43‑101 resource estimate and prefeasibility study; additional drill programs anticipated if initial results are positive.
• Qualified Person – Stephen L. Masson, M.Sc., P.Geo., reviewed and approved all technical disclosures.

Notable Quotes

• “The financing provides the necessary capital to advance our rigorous exploration program across key Manitoba and Saskatchewan targets, positioning Boreal Gold for a potential resource‑building campaign in 2026.” – Richard Masson, President & CEO.