Evergold Announces Non-Brokered Private Placement of up to $5,000,000 for Drilling at Golden Lion, Toodoggone Region, Northern BC
Evergold seeks $5 million to revive Golden Lion as Ore Group takes the helm
The most recent news (March 10, 2026) announces a non-brokered private placement for up to $5,000,000. The financing includes "hard-dollar" (HD) units at $0.55 (one share + half warrant) and flow-through (FT) shares at $0.65. This follows a series of structural changes: a 1:10 share consolidation in late 2025, the appointment of Alex Walcott as CEO, and the strategic involvement of the Ore Group. The funds are earmarked for drilling at the flagship Golden Lion project in the Toodoggone region of BC and general working capital.
The impact is Routine - Positive. While $5 million is a significant sum relative to the company’s recent cash-strapped history (holding only $9,050 in cash as of Sept 30, 2025), it is a logical and expected follow-up to the "strategic reset" announced in January 2026. - In line with expectations: After appointing a new CEO and Capital Markets Advisor (Dylan Berg) and consolidating the share structure, a major capital raise was the necessary next step to fund the 2026 drill season. - Valuation Benchmark: The $0.55 unit price sets a firm floor for the post-consolidation market value. - Operational Shift: This moves the company from "maintenance mode" (where management was forgiving fees to keep the lights on) to "active exploration."
Evergold Corp. is a BC-focused explorer. - Flagship Project: Golden Lion (100% owned), Toodoggone Region, BC. It is a gold-silver epithermal/porphyry target. Historical drilling by Newmont (1984) and Evergold (2020-2021) has defined a 1.7km strike at the GL1 Main Zone. - Secondary Project: DEM Mountain Zone (Gold-Silver-Critical Metals), where recent drilling targeted a deep-running epithermal system. - Other Assets: Snoball, Holy Cross, and an option on the Rockland project (Nevada).