Evergold arranges $300,000 financing with Ore Group

Mr. Kevin Keough reports EVERGOLD ANNOUNCES $300,000 ORE GROUP FINANCING, SHARPENED FOCUS ON GOLDEN LION PROJECT, TOODOGGONE DISTRICT, NORTHERN BC Evergold Corp. has arranged a strategic non-brokered private placement with principals associated with the Ore Group, acting in their individual capacities. This investment marks the beginning of a broader repositioning of Evergold, including a singular strategic focus on the company's 100-per-cent-owned Golden Lion gold-silver project, located in the prolific Toodoggone district of British Columbia. The terms of the financing are provided below. Strategic partnership with the Ore Group The transaction brings together Ore Group's capital markets and company-building expertise with a proven technical and operational team that has successfully advanced a number of exploration companies. Ore Group and Evergold's principals have played key roles in the growth of companies such as American Eagle Gold Corp. and Metal Energy Corp., attracting strong institutional, retail and strategic investor support. Ore Group will advise Evergold on capital markets strategy, investor engagement and corporate development as the company enters its next phase of growth. "We see Evergold as a clear value opportunity that has been overlooked by the market. The company was founded and advanced by one of British Columbia's premier technical teams, including Charlie Greig, Alex Walcott and Kevin Keough, who together had great success in exploring the Tatogga property with GT Gold, work which ultimately led to the sale of GT to Newmont in 2021. Golden Lion is a project with a meaningful history and is a project better characterized as undercapitalized rather than underendowed. Located in the top-tier Toodoggone district, 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," said Stephen Stewart, chairman of Ore Group. About Golden Lion The Golden Lion property hosts a broad, near-surface, gold-silver-rich, base-metals-bearing, low-to-intermediate-sulphidation epithermal system (the GL1 Main zone) adjacent to the Takla fault, which is one of a number of extensive mineralizing systems in the Toodoggone district of north-central British Columbia. The GL1 Main zone lies just nine kilometres up a broad valley and bulldozer track from road access to Thesis Gold's Lawyers-Ranch project, for which a prefeasibility study published in Dec. 1, 2025, returned a very strong 55-per-cent internal rate of return: Prior to Evergold's involvement, the system had been tested only in a single season of drilling and bulldozer trenching carried out by Newmont Corp. in 1984 (22 holes for 2,474 metres). This established a continuously mineralized low-grade envelope, with hints of higher-grade potential, over a core 400 metres of strike length and, with undrilled gaps, over 1.7 kilometres of strike length, with mineralization exposed at surface tested only to shallow depths. Newmont's broadly spaced drill pads and lack of any undercuts left the depth potential and continuity between holes largely untested. Evergold surmised that increasing the density of drilling would lead, as is commonly the case in such epithermal systems, to the identification of higher-grade domains within the broad envelope. Evergold drill tested GL1 Main for the first time in 2020 (10 holes for 1,622 metres), primarily with the intent of replicating the Newmont results, which was accomplished, while also testing other targets on the property to the north and northeast as well as peripheral parts of the zone (six holes for 1,386 metres) (see news releases dated Nov. 30, 2020, and Jan. 26, 2021). The company's best gold-silver results came in the final three holes (GL21-23, GL21-24 and GL21-25) of a COVID-19-shortened drill program in 2021 (nine holes for 1,811 metres), when, drilling between previous Newmont intercepts, the company identified the first high-grade domain within the broad system envelope. Lack of drill crews prevented immediate follow-up (see news release dated Nov. 16, 2021). Combined bulk-tonnage and high-grade components, providing both volume and value drivers: Bulk-tonnage-style gold-silver mineralization has been demonstrated at GL1 Main zone in nine Newmont core holes and 19 Evergold core holes to date. All of these holes collared at surface in mineralization, and all returned broad zones of lower-to-moderate-grade, near-surface, open-pit-style mineralization, including for example, a true width 66.0 metres of 1.36 grams per tonne gold and 11 grams per tonne silver in hole GL21-24. Notably, all holes carried intermittent gold and silver values downhole beyond the significant intercepts cited, suggesting a potential system true width approaching 100 metres (see news release dated Nov. 30, 2020, Jan. 26, 2021, and Jan. 13, 2022). High-grade domains occur within the broader system, for example, a true width 3.3 metres of 11.30 grams per tonne gold and 12 grams per tonne silver within the broader intercept cited above in hole GL21-24 and, in undercut GL21-25, an estimated 60-per-cent-true-width 11.3 metres of 5.4 grams per tonne gold and 62 grams per tonne silver, including one metre of 26.1 grams per tonne gold, 619 grams per tonne silver, 10.0 per cent zinc and 3.5 per cent lead (see news release dated Nov. 16, 2021). Golden Lion open at depth, along strike and as yet unmodelled The shallow precious-metals-rich zones at GL1 Main remain open both along strike and down dip, with soil and outcrop sampling by Evergold returning high gold and silver values along approximately 2.7 kilometres of strike, well beyond the limits of drilling to date. This is strongly suggestive of remaining exploration upside: Preliminary modelling suggests that the system may increase in intensity to depth. Surface geochemical anomalies (soil, talus fines and outcrop) at GL1 Main stretch for 2.7 kilometres along trend and into covered areas, further suggesting exploration upside beyond drilled areas. For example, southeast of GL1 Main, outcrop sampling returned 1.3 kilograms per tonne silver from a narrow, mineralized horizon atop GL1 South Ridge and, to the north of GL1 Main at GL1 North Ridge, sequential soil sampling returned a 300-metre-long string of 10 very strongly anomalous gold and copper values with peaks of 14.95 grams per tonne gold and 1.59 per cent copper (see news release dated Feb. 10, 2020). Historical drilling was shallow and widely spaced. Modern infill and undercut drilling could materially expand the known footprint and lift overall grades with the identification of further high-grade domains. Golden Lion copper potential and the Toodoggone district context: The Toodoggone district is a well-known, metal-endowed terrane, hosting both advanced and emerging projects and prospects, with good regional infrastructure, including road access and airstrips, in spite of its northerly latitude. The district is well established as a mining camp with past-producing and advanced-stage deposits, including Centerra's Kemess copper-gold porphyry mine, Amarc-Freeport's recent Aurora copper-gold porphyry discovery, Thesis Gold's Lawyers-Ranch project adjacent to Golden Lion, TDG Gold's past-producing and actively explored Baker and Greater Shasta-Newberry projects, and Sun Summit's JD project. Golden Lion benefits from this district-scale context while remaining underexplored relative to its peers. The company recently acquired 100 per cent of four inlier claim groups totalling 173 hectares located within the northern part of the Golden Lion property known as the Copper King claims (see news release dated July 9, 2025). Historical drilling in 1975 of five shallow holes each returned numerous references in drill logs to copper mineralization, including native copper, bornite, chalcopyrite, malachite, azurite and chrysocolla, for the most part hosted within porphyritic andesite. None of the holes were assayed at the time and there has been no follow-up in the years since. Backpack drill sampling by the company in 2021 and NQ-diameter core drilling in the previous year also returned high grades of copper with strong gold and silver credits from mineralized outcrop at several sites to the north and northeast of GL1 Main, for example: 11.9 per cent copper, 0.69 gram per tonne gold and 37.9 grams per tonne silver over 1.47 metres in hole GL-21-BPD-024 and, in diamond core hole GL-20-014, drilled below previous outcrop sampling that had returned high values of copper with associated strong silver and gold, including 13.5 per cent copper, 122 grams per tonne silver and 0.146 gram per tonne gold in grab sample GLAA18-036R, a one-metre intercept of chalcopyrite-rich sulphides that returned 3.34 per cent copper, 33.89 grams per tonne silver and 3.66 grams per tonne gold (see news release dated Jan. 13, 2022). Readers should note that rock grabs and, to a lesser degree, backpack drill samples are by their nature selective and are not necessarily representative of the mineralization hosted on the property). Path forward Evergold intends to focus its efforts at Golden Lion by: Refining the geological and structural model; Prioritizing high-confidence drill targets, primarily at the GL1 Main zone; Advancing toward the next phase of drilling, which will be to systematically test to depth and along strike at GL1 Main. Further evaluate the porphyry potential in the vicinity of the recently acquired Copper King inlier claims on the northern part of the Golden Lion property. Additional details regarding exploration plans, including anticipated drill timing and budgets, will be provided in early 2026. Terms of the financing The financing will consist of the sale of up to 1,304,348 units of the company at a price of 23 cents per unit, with each unit comprising one common share of the company and one full common share purchase warrant. Each warrant will be exercisable to acquire one additional common share at an exercise price of 30 cents for a period of two years from the date of issuance. The company intends to use the proceeds from the financing for exploration activities on the company's properties (as described herein) and general corporate and working capital purposes. Completion of the financing is subject to the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued and issuable pursuant to the financing shall be subject to a four-month-and-one-day hold period from the date of issuance. Qualified person Charles J. Greig, MSc, PGeo, the company's chief exploration officer and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release. About Evergold Corp. Evergold is a TSX-V-listed mineral exploration company with projects in British Columbia and Nevada. The Evergold team has a record of success in the junior mining space, including the establishment of GT Gold Corp. in 2016 and the discovery of the Saddle South epithermal vein and Saddle North porphyry copper-gold deposits near Iskut, B.C., sold to Newmont in 2021 for a fully diluted value of $456-million, representing a 1,136-per-cent (12.4 times) return on exploration outlays of $36.9-million. We seek Safe Harbor.