Renforth Closes $1 million Financing and Commences Drill Program Permitting for Parbec Gold Deposit

Executive Summary

• Renforth Resources completed a best‑efforts private placement raising CAD 1,000,000 through the sale of 40 million common share units at $0.025 per unit.
• The company announced commencement of permitting for a 60,000‑metre drill program at the Parbec gold deposit in Quebec, targeting bulk‑sample definition and deeper intercept testing over two years.
• Renforth disclosed a sponsorship of Geologize training access for more than 3,000 geoscience students across Ontario universities and colleges.

Key Details

• Financing: CAD 1,000,000 raised; 40 million units sold at $0.025 per unit to Mr. Frank Guillemette (one investor).
• Unit Structure: Each unit = 1 common share + 1 purchase warrant (right to buy an additional share at $0.05 for 24 months post‑closing). No financing fees incurred.
• Voting Support: Purchaser signed a voting support letter agreeing to vote in favor of management for three years.
• CEO Quote: Nicole Brewster highlighted the strategic benefit of having a “patient shareholder” with exploration expertise.
• Investor Quote: Frank Guillemette stated Renforth’s market cap does not reflect asset quality.
• Parbec Drill Program: Permitting underway; 60,000 m of drilling planned over two years to:
• Define underground bulk‑sample target area.
• Potentially increase and reclassify gold ounces.
• Test structural reinterpretations and fill gaps between surface and 300 m depth, plus deeper intercepts.
• Chipping Program: Completed; overburden removal (~320 m × 120 m) to begin within weeks, enabling surface sampling after snow melt.
• Geoscience Education Sponsorship: Free Geologize platform access for >3,000 students at 16 Ontario institutions; future expansion planned for Quebec with French‑language content.
• Qualified Person: Martin Demers, P.Geo., VP Exploration, reviewed and approved technical content per NI 43‑101.

Notable Quotes

• “I believe Renforth will benefit from a patient shareholder in Mr. Guillemette, who has agreed to offer his expertise and support to management.” – Nicole Brewster, President & CEO
• “Renfort's current market capitalization does not reflect the quality of its assets built by Renforth’s team.” – Frank Guillemette