Dryden Gold Announces Strategic Property Purchase
Dryden Gold Announces Strategic Property
Purchase
Vancouver, British Columbia--(Newsfile Corp. - October 21, 2024) -
Dryden Gold Corp. (TSXV: DRY)
(OTCQB: DRYGF)
("
Dryden Gold
" or the "
Company
") is pleased to announce that it has signed a
binding mineral claims purchase agreement (the "
Purchase Agreement
") with Shear Gold Exploration
Corp. ("
Shear Gold
"), to acquire 41 mineral tenures (the "
Shear Gold Claims
") in its Lower Manitou
project area. The Purchase Agreement calls for a purchase price of $80,000 cash to be paid at closing
for an undivided, royalty-free 100% interest in the Shear Gold Claims. Shear Gold is an arms-length
private Ontario corporation and closing is expected on October 22, 2024.
The Shear Gold Claims
The Shear Gold Claims consist of 41 single cell and multi-cell mining claims (
see "Dryden Gold Land
Addition" in Figure 1
) that are strategically located; (1) contiguous to the Company's Sherridon and
Gaffney projects and (2) contiguous to Gaffney and the Cross River Property, in the Gold Rock Camp,
which the Company purchased earlier this year (see press release dated
February 2, 2024
). Initial
results from the summer field program and re-logging of historic core have made both of these areas
priority targets for the Company's expanded exploration program in 2025.
"
The Shear Gold Claims represent another strategic acquisition as Dryden Gold continues to
consolidate its important district-scale land package (see Figure 1). Having completed our recent
upsized financing, we are now fully funded for an aggressive exploration program in 2025. While our
main focus will remain the expansion of mineralization on the Elora and Big Master gold systems at
Gold Rock, we also plan to expand and upgrade our district-scale project pipeline
," stated CEO Trey
Wasser. "
We still have drill samples in the lab from fall drilling at Gold Rock and drilling is scheduled
to resume early next month. 2025 will be an extremely exciting year for Dryden Gold
".
Figure 1 - Dryden Gold Land package with new addition of land coloured in orange
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9776/227224_3eeb184d144ec9dc_001full.jpg
Qualified Person
The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc.,
P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of
the Canadian Securities Administrators.
ABOUT DRYDEN GOLD CORP.
Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold
mineralization listed on the TSX Venture Exchange ("DRY") and on the OTCQB marketplace ("DRYGF").
The Company has a strong management team and Board of Directors comprised of experienced
individuals with a track record of building shareholder value through property acquisition and
consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100% interest
in a dominant strategic land position in the Dryden District of Northwestern Ontario. Dryden Gold's
property package includes historic gold mines but has seen limited modern exploration. The property
hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic
deformation zone. The property has excellent infrastructure, enjoys collaborative relationships with First
Nations communities and benefits from proximity to an experienced mining workforce.
For more information go to our website
www.drydengold.com
.
CONTACT INFORMATION
Trey Wasser, CEO
Email:
Phone: 940-368-8337
Ashley Robinson, Investor Relations
Email:
X:
@DrydenGold
Maura Kolb, M.Sc.. P. Geo., President
Email:
Phone: 807-632-2368
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release
.
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains "forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking statements include, but are not limited to, statements with respect
to : the acquisition of the Property, receipt of corporate and regulatory approvals, issuance of common
shares; future development plans; future acquisitions; exploration programs; and the business and
operations of Dryden Gold. Forward-looking statements relate to information that is based on
assumptions of management, forecasts of future results, and estimates of amounts not yet determinable.
Any statements that express predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often but not always using phrases such as "expects", or
"does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled",
"forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be
achieved) are not statements of historical fact and may be "forward-looking statements." Forward-
looking statements are subject to a variety of risks and uncertainties which could cause actual events or
results to differ from those reflected in the forward-looking statements, including, without limitation: risks
related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to
the outcome of legal proceedings; political and regulatory risks associated with mining and exploration;
risks related to the maintenance of stock exchange listings including receipt of TSX Venture Exchange
approval for the acquisition
of the Property; risks related to environmental regulation and liability; the
potential for delays in exploration or development activities; the uncertainty of profitability; risks and
uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral
deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for
unexpected costs and expenses; the possibility that future exploration, development or mining results will
not be consistent with the Company's expectations; risks related to commodity price fluctuations; and
other risks and uncertainties related to the Company's prospects, properties and business detailed
elsewhere in Dryden Gold's and the Company's disclosure record. Should one or more of these risks
and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary
materially from those described in forward-looking statements. Investors are cautioned against
attributing undue certainty to forward--looking statements. These forward-looking statements are made
as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or
revise them to reflect new events or circumstances. Actual events or results could differ materially from
Dryden Gold's and the Company's expectations or projections.
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