Evergold arranges $300,000 financing with Ore Group

Executive Summary

• Evergold Corp. announced a $300,000 non-brokered private placement with the Ore Group, marking a strategic repositioning of the company to focus exclusively on its 100%-owned Golden Lion gold-silver project in the Toodoggone district of Northern BC.
• The financing includes the appointment of the Ore Group to advise on capital markets strategy, investor engagement, and corporate development, leveraging their experience with companies like American Eagle Gold Corp. and Metal Energy Corp.
• The release provides extensive technical details on the Golden Lion project, highlighting historical and recent drilling results that demonstrate both bulk-tonnage potential and high-grade domains, alongside new copper exploration targets on the Copper King claims.

Key Details

• Financing Structure:
  • Type: Strategic non-brokered private placement.
  • Investor: Principals associated with the Ore Group (acting in individual capacities).
  • Units Sold: Up to 1,304,348 units.
  • Price: 23 cents per unit.
  • Gross Proceeds: Approximately $300,000 (based on max units).
  • Warrants: Each unit includes one full common share purchase warrant.
  • Warrant Terms: Exercisable to acquire one additional common share at an exercise price of 30 cents for a period of two years from issuance.
  • Use of Proceeds: Exploration activities on company properties and general corporate/working capital purposes.
  • Conditions: Subject to regulatory approvals, including TSX Venture Exchange.
  • Hold Period: Four months and one day from date of issuance.
• Strategic Partnership:
  • Ore Group will advise Evergold on capital markets strategy, investor engagement, and corporate development.
  • Stephen Stewart (Chairman of Ore Group) cited Evergold as a "clear value opportunity" and noted the project is "undercapitalized rather than underendowed."
• Golden Lion Project Technical Highlights:
  • Location: Toodoggone district, Northern BC; 100% owned.
  • Geology: Broad, near-surface, gold-silver-rich, base-metals-bearing, low-to-intermediate-sulphidation epithermal system (GL1 Main zone).
  • Historical Context: Previously tested by Newmont in 1984 (22 holes, 2,474m) and Evergold in 2020-2021.
  • Drilling Results (Evergold):
    • GL21-24: 66.0 metres true width of 1.36 g/t Au and 11 g/t Ag.
    • GL21-24 (High Grade Interval): 3.3 metres true width of 11.30 g/t Au and 12 g/t Ag within the broader intercept.
    • GL21-25 (Undercut): Estimated 60% true width of 11.3 metres of 5.4 g/t Au and 62 g/t Ag, including 1 metre of 26.1 g/t Au, 619 g/t Ag, 10.0% Zn, and 3.5% Pb.
  • Exploration Upside:
    • GL1 Main zone remains open along strike (2.7 km of soil/outcrop anomalies) and down dip.
    • Preliminary modeling suggests intensity may increase with depth.
    • Surface geochemical anomalies suggest significant exploration upside beyond drilled areas.
• Copper Potential (Copper King Claims):
  • Evergold acquired 100% of four inlier claim groups (173 hectares) known as Copper King claims in July 2025.
  • Historical 1975 drilling noted copper mineralization (native copper, bornite, chalcopyrite, etc.) but was never assayed.
  • Recent sampling returned high copper grades:
    • GL-21-BPD-024: 1.47 metres of 11.9% Cu, 0.69 g/t Au, and 37.9 g/t Ag.
    • GL-20-014: Below outcrop sampling that returned 13.5% Cu, 122 g/t Ag, and 0.146 g/t Au.
    • Grab Sample GLAA18-036R: One metre of chalcopyrite-rich sulphides returning 3.34% Cu, 33.89 g/t Ag, and 3.66 g/t Au.
• Path Forward:
  • Refine geological/structural models.
  • Prioritize high-confidence drill targets at GL1 Main.
  • Systematically test GL1 Main to depth and along strike.
  • Evaluate porphyry potential at Copper King claims.
  • Additional details on drill timing and budgets expected in early 2026.

Notable Quotes

• Stephen Stewart, Chairman of Ore Group: "We see Evergold as a clear value opportunity that has been overlooked by the market... Golden Lion is a project with a meaningful history and is a project better characterized as undercapitalized rather than underendowed... the technical evidence suggests that there is significantly more potential at Golden Lion than has been recognized to date, and the project clearly warrants renewed focus, capital and systematic exploration."