Endurance GOLD Closes Second Tranche and Provides Project Update
ENDURANCE GOLD CORPORATION
Suite 1212 - 666 Burrard Street
Vancouver, B.C. V6C 2X8
Tel: (604) 682-2707 Toll Free: (877) 624-2237
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
NEWS RELEASE 23 – 17 October 26, 2023
ENDURANCE GOLD CLOSES SECOND TRANCHE AND PROVIDES PROJECT UPDATE
Endurance Gold Corporation (EDG – TSX.V) (“Endurance or the “Company”) announces that further to a
news release dated September 27, 2023, the Company has closed a second tranche of its previously
announced non-brokered private placement of non flow -through units and flow -through shares (the
“Offering”) announced on September 11, 2023.
The Company has raised, in this second tranche, aggregate proceeds of $344,794 by issuing 198,700 units
(the “Unit”) at a price of $0.22 per Unit and 1,158,000 flow-through (“FT”) shares at a price of $0.26 per
FT share. Each Unit is comprised of one common share (each, a “Share”) and one-half non-transferable
common share purchase warrant ( each whole warrant, a “Warrant”). Each Warrant shall entitle the
holder to purchase one Share at an exercise price of $0.42 per Share until October 26, 2025. In connection
with this second tranche of the Offering, the Company has paid a cash finder’s fee of $9,360 to Canaccord
Genuity Corp . Insiders of the Company purchased an aggregate of 219,000 FT Shares in this second
tranche of the Offering. The Company has relied on the exemptions from the valuation and minority
shareholder approval requirements of Multilateral Instrument 61 -101 – Protection of Minority Security
Holders in Special Transactions ("MI 61-101") contained in sections 5.5(b) and 5.7(1)(a) of MI 61 -101 in
respect of such insider participation.
All securities issued pursuant to this second tranche of the Offering are subject to a four-month and one
day hold period expiring on February 27, 2024. The Company will extend the Offering to on or about
November 26, 2023 and the complete Offering remains subject to the final approval of the TSX Venture
Exchange.
As previously disclosed, the Company will use an amount equal to the gross proceeds received from the
sale of the FT Shares, pursuant to the provisions in the Income Tax Act (Canada) (the “ Qualifying
Expenditures”) related to the Company’s Reliance Project in British Columbia and/or other projects in
Canada, on or before December 31, 2024, and to renounce all the Qualifying Expenditures in favour of
subscribers of the FT Shares effective December 31, 2023. Proceeds raised from the sale of the Units will
be used by the Company for exploration activities and for general corporate purposes.
Project Update – The Company is pleased to report that, since re -initiation of the drill program at its
Reliance Gold Project (the “ Property”) and subsequent to lifting of the Evacuation Order , the Company
has completed an additional seven (7) drill holes at the Eagle, Crown and Imperial Zones . This totals 22
drill holes and about 5,000 metres (‘m”) completed to date in 2022. Assays are pending for eight (8) drill
holes. The Property is road accessible and located 4 kilometres (“km”) east of the village of Gold Bridge,
and 10 km north of the historic Bralorne -Pioneer Gold Mining Camp which has produced over 4 million
ounces of gold.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would require
registration or otherwise be unlawful. The securities offered have not been or will not be registered under
the United States Securities Act of 1933 , as amended (the “U.S. Securities Act ”) or any state securities
laws and may not be offered or sold within the United States or to U.S. person unless registered under
the U.S. Securities Act and applicable state securities laws or an exemption from such registration is
available.
ENDURANCE GOLD CORPORATION
Robert T. Boyd
President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation
(604) 682-2707, [email protected]
www.endurancegold.com
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based
on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of
factors beyond its control, and actual results may differ materially from the expected results.