Big Ridge Gold Corp. Closes Upsized $5.2 Million Private Placement
Big Ridge Gold Corp. Closes Upsized $5.2
Million Private Placement
Toronto, Ontario--(Newsfile Corp. - July 25, 2025) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB:
ALVLF) ("Big Ridge" or the "Company") is pleased to announce that it has closed a non-brokered
private placement of 42,000,000 common share units ("Units") of the Company at $0.125 per share for
aggregate gross proceeds to the Company of $5,250,000 (the "Offering").
Each Unit consists of one common share and one half of one common share purchase warrant (a
"Warrant"). Each whole Warrant is exercisable into one common share of the Company at a price of
$0.20 per common share and expires on November 25, 2027.
In connection with the Offering, the Company paid a total of $175,00 in cash compensation and issued a
total of 1,400,000 non-transferable finders warrants to PowerOne Capital Markets Limited as a finders
fee. Each finder warrant is exercisable until November 25, 2027, into a finder unit at an exercise price of
$0.125 per finder unit, with each finder unit comprised of one common share of the Company and one-
half of one common share purchase warrant, with each such whole warrant exercisable until November
25, 2027, into one common share of the Company at a price of $0.20 per share.
The Company intends to use the net proceeds of the Offering to fund the purchase of the remaining 20%
of the Hope Brook Gold Project it does not currently own and for general working capital purposes.
Michael Bandrowski, President & CEO of the Company, commented: "Big Ridge is pleased to receive
continued support from existing shareholders, including strong participation from Mr. Michael Gentile,
PowerOne Capital Group, and other supportive shareholders. We look forward to closing the purchase
of the remaining 20% of the Hope Brook Gold Project and continuing to advance Hope Brook toward
production."
The securities issued pursuant to the Offering are subject to a four month hold period expiring November
26, 2025.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities
described herein in the United States. The securities described herein have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States or to the account or benefit of a U.S. person absent an exemption from the
registration requirements of such Act.
Qualified Person
Paul Robinson, P. Geo., V.P. Exploration for Big Ridge, and a Qualified Person within the meaning of NI
43-101,
Standards of Disclosure for Mineral Projects
, has reviewed and approved the technical
information contained in this news release.
About Hope Brook
The Hope Brook Gold Project is an advanced stage, high-grade gold project that produced 752,162
ounces of gold from 1987 - 1997. Initial production consisted of an open pit before moving to
underground mining. Hope Brook operated using both heap leach (1987 -1990) and conventional
cyanidation milling methods (1989-1997) with a later inclusion of flotation concentration to recover
copper (1991). Government records indicate that gold recoveries from milling ranged between a low of
78.8% in 1987 and a high of 85.9% in 1989. Government and company annual reports indicate that gold
recoveries ranged between a low of 82.1% in 1994 and a high of 89.83% in 1996 following a change of
ownership. Copper flotation produced a concentrate at approximately 22% Cu and 34.3 g/t Au for
shipment in 1992.
Hope Brook hosts an Indicated gold resource totalling 16,190,000 tonnes grading 2.32 grams per tonne
gold for 1.2 million ounces and Inferred resources totalling 2,215,000 tonnes grading 3.25 grams per
tonne gold for 231,000 ounces based on a 0.4 and 2.0 gram per tonne cut-off grades for open pit and
underground resources respectively using a long-term gold price of US$1,750 (
see 43-101 Compliant
Mineral Resource Estimate Update for the Hope Brook Gold Project, Newfoundland and Labrador,
Canada April 6, 2023
).
The Hope Brook gold deposit is a high-sulfidation epithermal gold deposit hosted in the Proterozoic
aged Whittle Hill Sandstone and is intruded by a Late Proterozoic quartz-feldspar porphyry sill-dike
complex of the Roti Intrusive Suite. The deposit is located adjacent to and within an extensive advanced
argillic alteration envelope which includes pyrophyllite, kaolinite, andalusite, and alunite. The principal
gold mineralization occurs in a buff-colored massive, vuggy silicic alteration with an associated, less
developed grey silicic alteration with pyrite, chalcopyrite and lesser bornite accessory minerals. Gold
mineralization is also found with pyrite in units of advanced argillic alteration adjacent to or near silicic
alteration horizons. The altered and mineralized zone is cut by mafic dykes whose contacts are often
mineralized. All the altered and mineralized sequences and the intruded dykes have been folded.
Hope Brook is located 85 kilometers east of Port aux Basques, Newfoundland. The project has well
maintained infrastructure on site, including an operational 28-person camp, an 1,100-meter airstrip, ice-
free docking facility and importantly, connection to the provincial electrical power grid via an on-site
substation.
About Big Ridge Gold Corp.
Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and
experienced team of officers and directors. The Company is committed to the development of advanced
stage mining projects using industry best practices combined with strong social license from our local
communities. Big Ridge owns an 80% interest in the Hope Brook Gold Project, located in Newfoundland
and Labrador. Big Ridge also owns a 100% interest in the highly prospective Oxford Gold Project
located in Manitoba and the Destiny Gold Project in Quebec.
Acknowledgement
Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural
Resources' financial support of the Company's 2023 exploration programs through the Junior
Exploration Assistance (JEA) Program.
For more details regarding the Company's projects, please visit our website at
www.bigridgegold.com
.
ON BEHALF OF THE BOARD,
Mike Bandrowski,
President & CEO
Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King St. East, Suite 1400
Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements"
(collectively "forward-looking statements") within the meaning of applicable Canadian securities
legislation. These forward-looking statements are made as of the date of this news release. Forward-
looking statements are frequently, but not always, identified by words such as "expects", "anticipates",
"believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy",
"goals", "objectives", or variations thereof or stating that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms
and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and
reflect current estimates, predictions, expectations, or beliefs regarding future events, and include,
without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares.
All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as
various assumptions made by them and information currently available to them. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. Forward-looking statements reflect the
beliefs, opinions, and projections on the date the statements are made and are based upon a number
of assumptions and estimates that, while considered reasonable by the respective parties, are
inherently subject to significant business, economic, competitive, political, and social uncertainties
and contingencies. Many factors, both known and unknown, could cause actual results, performance,
or achievements to be materially different from the results, performance or achievements that are or
may be expressed or implied by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these factors. When relying on our
forward-looking statements to make decisions with respect to Big Ridge, investors and others should
carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does
not undertake to update any forward-looking statement, whether written or oral, that may be made from
time to time by the Company or on our behalf, except as required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/259999