Paradigm Gold closes $150,000 1st tranche of financing

Executive Summary

• Paradigm Gold Corp. closed the first tranche of its non‑brokered private placement, raising $150,000 and extending the closing deadline for the remaining units by 30 days.
• The company plans to issue up to nine million units for total gross proceeds of approximately $1.05 million, with proceeds earmarked for exploration at the Swift‑Katie gold‑copper project and working capital.
• The release provides historic drilling highlights from both the Swift gold target and the Katie copper‑gold target, underscoring the project's prospective mineral potential.

Key Details

• First Tranche Closed: 1.5 million non‑flow‑through units sold for gross proceeds of $150,000.
• Planned Issuance (Full Placement): Up to 9 million units total:
• 6 million flow‑through units at C$0.125 per unit → $750,000.
• 3 million non‑flow‑through units at C$0.10 per unit → $300,000.
• Unit Structure:
• Flow‑through unit = 1 flow‑through common share + ½ share purchase warrant.
• Non‑flow‑through unit = 1 non‑flow‑through common share + ½ warrant.
• Warrant Terms: Exercise price C$0.15 per share; exercisable for three years from issue date.
• Hold Period: All securities issued in the first tranche subject to hold until 13 Mar 2026.
• Use of Proceeds: Finance exploration program on the 100 % owned Swift‑Katie project (five priority targets over a 2,500 m strike) and provide working capital.
• Swift‑Katie Project Overview:
• Location: ~7 km SW of Salmo, BC; 8,797 ha land package comprising 19 MTO/mineral claims.
• Contains Katie copper‑gold‑silver porphyry deposit (analogue to Copper Mountain) and Swift gold target (analogous to Rossland veins).
• Historic Drilling – Swift Gold Target (2017):
• Hole SK17‑015: 2.5 m @ 11.5 g/t Au, 6.7 g/t Ag.
• Hole SK17‑019: 8.6 m @ 3.1 g/t Au, 2.0 g/t Ag.
• Historic Trenching – Swift Gold Target: 2 m averaging 100.1 g/t Au (informational only).
• Historic Drilling – Katie Copper‑Gold Target:
• Hole VKT08‑069: 101.5 m @ 0.19 % Cu, 0.12 g/t Au.
• Hole VKT08‑071: 64 m @ 0.16 % Cu, 0.29 g/t Au.
• Regulatory Disclosure: Robert Macdonald, MSc, PGeo (Qualified Person) approved the technical information per NI 43‑101.

Notable Quotes

(No direct CEO/President quotes were included in the release.)