Dryden Gold Corp. Announces Equity Financing

• On April 14, 2026, Dryden Gold Corp. announced a proposed non-brokered equity financing to raise up to $7,500,000 CAD.
• The offering consists of Flow-through (FT) common shares at $0.41 per share and Charity Flow-through (CFT) shares at $0.4521 per share.
• Maximum issuance is 17,951,996 shares, representing approximately an 8% dilution to the current outstanding share count of ~219.5 million.
• Proceeds are designated for expanding drilling programs at the Hyndman and Gold Rock projects, as well as broader summer field campaigns.
• The financing is subject to TSX Venture Exchange approval and may close in tranches.
• Insiders may subscribe for CFT shares under exemptions from formal valuation requirements.

• Positive Capitalization: Raising capital at $0.41 per share represents a premium to the recent trading price of $0.34 (April 13, 2026 close). This indicates strong investor demand and management confidence in the near-term exploration outlook following the April 2, 2026 high-grade drill results.
• Runway Extension: The company reported a cash position of $8,500,000 CAD in its April 2026 presentation. Raising an additional $7.5M effectively doubles their treasury to ~$16M. While this secures funding for the summer campaign, it raises questions about burn rate efficiency given the existing cash balance.
• Dilution Management: The financing is non-brokered with minimal finders' fees (up to 6% on gross proceeds), which is favorable compared to traditional underwritten offerings. However, an 8% dilution is not negligible for a junior explorer and must be weighed against the value of the exploration upside it funds.
• Contextual Consistency: This financing aligns with previous capital raises (August 2025 $7.8M, December 2025 warrant exercises) and follows a pattern of funding aggressive exploration after positive technical results. It does not constitute a new discovery but enables the exploitation of recent high-grade intercepts at Gold Rock.

• Company Profile: Dryden Gold Corp. is a junior exploration company focused on building a high-grade gold portfolio in the under-explored Dryden District of Northwest Ontario.
• Flagship Project: Gold Rock Camp (Gold Rock Target Area). This includes the Elora, Jubilee, Pearl, and Big Master systems. Recent drilling has identified stacked high-grade structures with grades exceeding 300 g/t Au over short intervals.
• Other Assets: Hyndman (new discovery with channel samples up to 23.32 g/t Au), Sherridon (regional target with broad mineralization), and Tremblay (100% owned, option completed).
• Land Package: Approximately 80,339 hectares (~803 km²) with excellent infrastructure including grid power, roads, and highway access.