Evergold Enters Definitive Option Agreement to Acquire a 100% Interest in the Copper King Inlier Prospects
Evergold Enters Definitive Option Agreement to Acquire a 100% Interest in the
Copper King Inlier Prospects
TORONTO, Aug. 22, 2025 -- Evergold Corp. (TSX-V: EVER, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to
announce that it has entered into a definitive option agreement dated August 20, 2025 with Richard Billingsley and Gaye
Richards (the “Optionors”), granting the Company an option to acquire a 100% ownership interest in four inlier claim groups
totaling 173 hectares (the “ Option”), located within the northern half of its Golden Lion property (Figures 1 and 2)(the
“Acquired Tenures”). Completion of the Option, which is subject to the approval of the TSX Venture Exchange, is conditional
on the Company first completing a consolidation of the common shares in the capital of Evergold (“ Evergold Shares”) on the
basis of ten (10) pre-consolidation common share for each one (1) post-consolidation common share (the “ Consolidation”)
and requires the staged payment over two years of 533,332 post-Consolidation Evergold Shares (together, the “Consideration
Shares”). In addition, upon the Company exercising the Option, it shall grant to the Optionor a 2.5% net smelter returns
royalty, 1.5 percentage points of which may be bought back for $1.5 million. The Consideration Shares shall be issued in
stages as follows: (i) 133,333 post-Consolidation Shares issued on the date that is one calendar week following the effective
date of the Consolidation; (ii) 133,333 post-Consolidation Shares issued on July 2, 2026; and (iii) 266,666 post-Consolidation
Shares issued on July 2, 2027.
All Evergold Shares shall be subject to a hold period of four months and one day from the date of issuance. Completion of the
Option and the Consolidation is subject to the receipt of all necessary regulatory approvals, including the approval of the TSXV
and, in the case of the Consolidation, approval of two-thirds of the shareholders of the Company.
The Acquired Tenures cover the non-contiguous Goat, Chuck, Copper King and Claw prospects, collectively known as the
‘Copper King’ property. Historical drilling in 1975 at Claw of five shallow holes (assessment reports #05635 and 05657) each
returned numerous references in drill logs to copper mineralization including native copper, bornite, chalcopyrite, malachite,
azurite and chrysocolla, for the most part hosted within porphyritic andesite. None of the holes were assayed at the time.
Subsequent rock sampling carried out over the area of the claims in 1984 (assessment report #12871) returned “widespread”
areas containing high values of copper and silver mineralization in vein-fracture systems and disseminations in altered country
rock. Reports at the time recommended waiting for higher metal prices prior to carrying out additional work, and no exploration
activity is known to have occurred in the years since.
Qualified Person
Charles J. Greig, M.Sc., P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101, has
reviewed and approved the technical information in this news release.
About Evergold
Evergold Corp. is a TSX-V listed mineral exploration company with projects in B.C. and Nevada. The Evergold team has a
track record of success in the junior exploration space, most recently the establishment of GT Gold Corp. in 2016 and the
discovery of the Saddle epithermal vein and porphyry copper-gold deposits near Iskut B.C., sold to Newmont in 2021 for a fully
diluted value of $456 million, representing a 1,136% (12.4 X) return on exploration outlays of $36.9 million.
For additional information, please contact:
Kevin M. Keough
President and CEO
Tel: (613) 622-1916
www.evergoldcorp.ca
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 news release.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward- looking
statements include estimates and statements that describe the Option and the definitive option agreement describing the
Option, Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a
stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”,
“expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions
and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these
statements are based on information currently available to the Company, the Company provides no assurance that actual
results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information
Figure 1
Property Location, Toodoggone Camp
Figure 2
Golden Lion Tenures and Target Areas
could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or
implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-
looking information include, but are not limited to, risks related to the Option, failure to identify mineral resources, delays in
obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill
the duty to accommodate First Nations, uncertainties relating to the availability and costs of financing needed in the future,
changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development
of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral
exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although
the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release
are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company
disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by law.
Photos accompanying this announcement are available at
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