Paradigm Gold Closes First Tranche of Non-Brokered Private Placement

Summary of latest news

• 2026-02-25: Paradigm Gold closes the first tranche of a non-brokered private placement, issuing 2,000,000 non-flow-through units and 1,803,466 flow-through units for gross proceeds of $520,520. Net proceeds to be used for working capital and Swift-Katie exploration. Insider subscribed for 166,666 flow-through units.
• The same release outlines standard warrant terms (exercisable at $0.15 for three years) and a small additional finder-warrants component. The focus is on funding exploration at the Swift-Katie project.
• The prior 2026-01-22 item indicated a material-positive financing plan (combinations of FT units at $0.15 and NFT units at $0.125; total proceeds targeted around $1.0M across tranches). Use of proceeds again centered on the Swift-Katie project exploration.
• Earlier 2025 items show ongoing financing activity (first tranche, subsequent tranches) to fund exploration at the Swift-Katie project, with multiple units and warrants and typical hold periods. The company repeatedly emphasizes the Swift-Katie project as its flagship, 100%-owned asset.
• 2025-11-25 items confirm a 5-year drill permit for Swift Katie and a plan for a 2,000 m drilling program in 2026 focused on expanding Swift gold mineralization and delineating Katie Cu-Au targets.
• 2025-04 to 2025-05 period shows SEDAR MD&A/financial statements with ongoing cash burn, working capital pressures, and a substantial deficit balance, along with significant related-party payables. There is ongoing royalty exposure on the Swift-Katie property (3% NSR with purchase options), and non-public equity holdings in Pilar/Laiva/Eminent that require disclosure.

• Positive signals:
• Ongoing financing to support exploration at Swift-Katie, consistent with strategic plans.
• Five-year drill permit for Swift-Katie (and permitting for Katie) expands the potential for drill-ready activity in 2026.
• Insider participation in recent private placements provides some credibility to the equity story.
• Neutral-to-moderate impact:
• Proceeds in the latest tranche (about CAD 520k) are modest relative to exploration budgets typically needed for a multi-target project; financings appear episodic rather than transformative.
• The TSXV- and regulatory approvals are routine, with standard hold periods and warrant structures; no重大 corporate restructurings or debt-for-equity swaps appear in the latest news.
• Risks and caveats:
• The company continues to report a historically significant deficit and cash burn. Balance sheet leverage and near-term capital needs could cap upside if exploration results are delayed or if financing terms tighten.
• Historical drill results (non-verified) and historic trench results carry geological significance but require independent verification before they translate into near-term value.
• Royalty on Swift-Katie (3% NSR with buy options) creates overhang on economics and potential dilution of future cash flows.

• Paradigm Gold Corporation (formerly Nickelex Resource Corporation) is a junior mining/exploration company focused on the Swift-Katie gold-copper property in the Golden Arc district, British Columbia. The flagship project is 100%-owned Swift-Katie, spanning roughly 8,797 hectares with two principal targets:
• Swift Gold target: historic high-grade gold results along a ~1.75 km strike length; 2017 drill results include 2.5 m at 11.5 g/t Au and 6.7 g/t Ag, and 8.6 m at 3.1 g/t Au and 2.0 g/t Ag.
• Katie Cu-Au porphyry target: copper-gold mineralization identified across multiple historic holes, with a semi-continuous Cu-Au shell over ~1,800 m strike length.
• The company aims to advance exploration through a planned 2,000 m drilling program (early 2026) and surface work, supported by private placement proceeds.