Boreal Gold arranges $200,000 private placement

Executive Summary

• Boreal Gold Inc. announced a non-brokered private placement raising up to $200,000 to fund general working capital and exploration activities.
• The financing consists of 500,000 flow-through shares at $0.30/share and 250,000 units at $0.20/unit, with proceeds allocated to the North Star, Fay Lake, and Melgurd Lake properties.
• The release outlines detailed exploration plans for 2025-2026, including grid refurbishing, geological mapping, and planned drilling programs, alongside the announcement of an Annual and Special Meeting of Shareholders.

Key Details

• Financing Structure:
  • Flow-Through Shares: 500,000 shares at $0.30 per share, generating $150,000 in proceeds.
  • Units: 250,000 units at $0.20 per unit, generating $50,000 in proceeds.
  • Total Gross Proceeds: $200,000.
  • Warrant Terms: Each unit separates into one common share and one warrant. Each warrant allows the purchase of one common share at $0.20 per warrant for a period of 24 months following closing.
  • Conditions: Subject to regulatory approvals; securities subject to a four-month statutory hold period in Canada.
  • Use of Proceeds: General working capital and continuing work on North Star, Fay Lake, and Melgurd Lake properties.
• Property Updates & Exploration Plans:
  • North Star Group (Manitoba):
    • Consists of 2,922 ha across 21 claims and two mining leases (North Star gold property, Gold Rock mining lease, Sewell Lake critical metals property).
    • Grid Refurbishing: Line cutting and refurbishing of old grids (lines 46 N to 59 N) to be completed in spring/summer 2026.
    • Sampling: 12 samples from muck piles and underground development assayed at 0.29 oz/t Au (north sill) and 0.27 oz/t Au (south sill). Additional quartz vein samples sent for screen metallic analysis; results pending.
    • Drilling: Selective infill and downplunge drilling on the Gold Rock vein planned for 2026 (subject to follow-up financing) to build a NI 43-101 resource estimate and potentially advance to a prefeasibility study.
  • Fay Lake (Manitoba):
    • 17 contiguous claims (2,719 ha), contiguous to Hudbay’s Vamp Lake property and former Puffy Lake gold mine.
    • Contains ~5 km of mapped VMS horizons and a 9 km shear structure with samples assaying up to 14.33 g/t Au.
    • Planned Work: Ground geophysical surveys over western and northeastern grids; assays of rock samples from Fay grid, Sunrise grid extension, and Koscielny Lake; creation of geological maps/reports from 2025 work.
    • Drilling: Drill testing of targets confirmed by airborne conductors and ground geophysics, subject to financing and consultation with Kiciwapa Cree Nation.
  • Melgurd Lake (Saskatchewan):
    • 11 mineral claims (7,411 ha), north of Shotts Lake VMS deposit.
    • Airborne surveys show EM conductors and magnetic trends continuing from Shotts Lake onto Melgurd.
    • Planned Work: Assays and map/report preparation from summer 2023/2024 mapping of the Keep Lake grid, which shows significant garnet and anthophyllite alteration associated with gossans.
• Corporate Actions:
  • Shareholder Meeting: Annual and Special Meeting scheduled for Feb. 6, 2026, with a record date of Jan. 2, 2026.
  • Qualified Person: Stephen L. Masson, MSc, PGeo, reviewed and approved technical disclosure.

Notable Quotes

• No direct quotes from the CEO/President were included in the provided text.