Dryden Gold Provides 2024 Summary to Shareholders
Dryden Gold Provides 2024 Summary to
Shareholders
Vancouver, British Columbia--(Newsfile Corp. - January 7, 2025) -
Dryden Gold Corp. (TSXV: DRY)
(OTCQB: DRYGF)
("
Dryden Gold
" or the "
Company
") is pleased to reflect on a year of successful
exploration, significant capital markets activity and important tactical land acquisitions. The technical
team made great strides in identifying and defining the geological structures that control the high-grade
gold in the Gold Rock Camp. The Company's geological progress and success led to the announcement
that Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) ("
Centerra"
) had acquired a 9.9% strategic equity
position. Dryden Gold is now fully funded for an exciting year of exploration in 2025. The Company would
like to thank all its shareholders who have made this first year as a public company a success and
continue to support our next phase of exploration in 2025.
2024 Highlights Include:
Successful capital market campaigns including the strategic investment by Centerra:
December 2024- Closed
$3.38 Million Non-Brokered Private Placement
and
Strategic
Investment by Centerra Gold
(short summary video available
here
).
October 2024- Closed
$5.1 Million Private Placement
(upsized the offering three times due to
unprecedented demand).
January 2024-
Toronto Venture Exchange listing
and
$5.1 Million RTO Financing
.
Executed a
robust marketing strategy
which included North American and European conferences,
webinars, town halls, roadshows, investor dinners.
Secured newsletter writer coverage from
Chen Lin,
Editor of 'What is Chen Buying? What is Chen
Selling?'.
Near Surface High-Grade Drill Results in the Gold Rock Camp:
Elora intercept-
8.93 g/t gold over 12.45 meters
including 32.96 g/t gold over 2.73 meters in the
deepest drill hole to date at Elora (video summary available
here
).
Elora intercept-
14.10 g/t gold over 7.54 meters
(short video summary available
here
).
Elora intercept-
30.72 g/t gold over 5.70 meters
(short video summary available
here
).
Big Master intercept-
26.11 g/t gold over 3.16 meters
(short video summary available
here
).
Big Master intercept-
3.17 g/t gold over 4.00 meters
(short video summary available
here
).
Successfully tested hanging wall and footwall structures in sheared volcanics at Gold Rock.
Began a re-logging program with historic core from Gold Rock & Sherridon.
Building District Scale Potential - Dryden Gold District:
Acquired
key strategic property - '
Cross River'
Contiguous to the Gold Rock Camp.
Staked
additional ground - '
Hyndman Property
'.
Acquired
additional strategic land - '
Shear Gold Property
'
Contiguous to the Sherridon, Gaffney
and Cross River properties.
Secured a large core facility near the Gold Rock Camp.
Added two geologists and two strategic consultants to the technical team.
Made $3.5 million (cash & stock) in property payments to Alamos Gold Inc.
(NYSE: AGI)
("
Alamos
"). Final payment of $2 million is due April 2025 to secure 100% ownership.
"
2024 was a transitional year for Dryden Gold Corp. Starting with our successful public listing in
January and ending with Centerra's strategic investment in December, the Company made great
strides on all fronts."
states Trey Wasser, CEO of Dryden Gold.
"I am especially proud of our technical
team and their outstanding accomplishments in the interpretation of the structural geology and
controls which resulted in identifying several new high-grade structures through the drill bit. We
continue to see striking similarities to the Red Lake Camp and we are especially excited about our
deeper holes at Elora where intercepts of over an ounce per tonne gold show a strong mineralized
system. The district scale potential of our consolidated land package now has the attention of several
producing gold companies anxious to expand operations in Canada. With a fully funded exploration
budget we expect 2025 to be another pivotal year as we drill deeper and test new targets and continue
our property-wide exploration."
Details of Centerra Gold Inc.'s Strategic Investment
Centerra has acquired approximately 9.9% of the issued and outstanding common shares of the
Company. The Company and Centerra have also entered into an investor rights agreement dated
December 17, 2024 (the "
IRA
"), whereby, subject to certain conditions, including time and ownership
thresholds, Centerra will have certain rights, including the right to participate in future equity issuances to
maintain its ownership in the Company. A copy of the IRA is available under the Company's SEDAR+
profile on
www.sedarplus.com
.
The Offering consisted of: (i) 11,988,824 charity flow through shares (the "
CFT Shares
") at a price of
$0.24 per CFT Share and (ii) 2,941,176 hard dollar shares (the "
HD Shares
") at a price of $0.17 per
HD Share, for total aggregate proceeds of $3,377,317 Centerra was the end purchaser of all the CFT
Shares (following the charitable flow through donations in the Offering) and all the HD Shares. No finder's
fees will be paid with respect of the Shares.
2025 and Beyond
Dryden Gold has a fully funded $5.8MM exploration budget planned for 2025. This will include:
Deeper drilling and strike extension on the Elora structure
Testing new targets on Elora at the Laurentian Mine and the D-1 cross structures (permit pending)
Testing targets at Mud Lake defined in the 2024 field program (permit pending)
Property wide soil testing and LiDAR
Additional mapping and testing at Hyndman, Cross River and Sherridon
The Company also has over $2MM in hard dollars to cover its final property payment to Alamos and
continue its active marketing campaigns.
Marketing and Upcoming Conferences
Dryden Gold will be participating at the
Metals Investor Forum
in Vancouver at the Fairmont Pacific
Rim on January 17-18, 2025. Maura Kolb, P. Geo., President of Dryden Gold will be giving a corporate
presentation on Friday, January 17
th
at 9:50am PT during newsletter writer, Chen Lin's panel. Dryden
Gold will also be participating in the Core Shack at
AME Roundup
in Vancouver on January 20-21,
2025, from 9am-4pm PT at
Booth Number 821
at the Convention Centre East. Management will be
available for questions and invites investors to review our upcoming events on our website, linked
here
.
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.
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.
Analytical Laboratory and QA/QC Procedures
All sampling completed by Dryden Gold Corp. within its exploration programs is subject to a Company
standard of internal quality control and quality assurance (QA/QC) programs which include the insertion
of certified reference materials, blank materials, and a level of duplicate analysis. Drill samples from the
2023 program were sent to Activation Laboratories, with sample preparation and analysis in Thunder
Bay, where they were processed for gold analysis by 50-gram fire assay with an atomic absorption finish
and over limits determined by Fire Assay with a gravimetric finish.
Activation Laboratories systems
conform to requirements of ISO/IEC Standard 17025 guidelines and meets assay requirements outlined
for NI 43-101.
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
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: receipt of corporate and regulatory approvals, issuance of common shares;
future development plans; 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 offering; 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/236249