Goldcliff closes $133,000 first tranche of financing

Executive Summary

• Goldcliff Resource Corp. closed the first tranche of its non-brokered private placement, raising $133,000 from the sale of 1.9 million flow-through shares.
• The company is finalizing plans for drill site preparation at its Kettle Valley project, specifically constructing drill pads on the Cliff zone based on previous surface sampling results.
• Proceeds are designated for drilling at Kettle Valley and trenching/drill site preparation at the Ainsworth silver project, with costs to be renounced as Canadian exploration expenses.

Key Details

• Financing Details:
  • Closed first tranche of non-brokered private placement.
  • Issued 1.9 million flow-through shares.
  • Gross proceeds: $133,000.
  • Securities offered under the listed issuer financing exemption under Part 5A of National Instrument 45-106.
  • Proceeds to be applied to drilling at Kettle Valley and trenching/drill site preparation at Ainsworth silver project (both in British Columbia).
  • Costs qualify as flow-through mining expenditures under the Income Tax Act (Canada), to be incurred on or before Dec. 31, 2026, and renounced with an effective date no later than Dec. 31, 2025.
• Finder’s Fees:
  • Paid Ventum Financial Corp. an aggregate finder's fee of $9,310 in cash.
  • Issued an aggregate of 133,000 non-transferable finder warrants to Ventum Financial Corp.
• Operational Update (Kettle Valley):
  • Finalizing contractor engagement for drill site preparation at the Kettle Valley gold/silver project near Rock Creek, B.C.
  • Activity focuses on constructing several drill pads on top of the Cliff zone.
  • Drill pads located in the area of the best surface sample, which assayed 2.62 g/t gold and 181 g/t silver from subcrop (disclosed Jan. 5, 2022).
  • Anticipated to uncover additional rock exposure for sampling.
• Regulatory Status:
  • Private placement remains subject to final acceptance of the TSX Venture Exchange.