On Tuesday 03 10, 2026 at 4:01PM ET Evergold Announces Non-Brokered Private Placement of up to $5,000,000 for Drilling at Golden Lion, Toodoggone Region, Northern BC
On Tuesday 03 10, 2026 at 4:01PM ET
Evergold Announces Non-Brokered Private Placement of up
to $5,000,000 for Drilling at Golden Lion, Toodoggone
Region, Northern BC
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
TORONTO, ON / ACCESS Newswire / March 10, 2026 / Evergold Corp. (TSX-V:EVER)(US OTC:EVGUF)
(WKN:A2PTHZ) ("Evergold" or the "Company") is pleased to announce that it intends to complete a non-brokered private
placement financing for aggregate gross proceeds of up to $5,000,000 through the issuance of a combination of hard-dollar units
of the Company ("HD Units") at a price $0.55 per HD Unit, and flow-through shares ("FT Shares") at a price of $0.65 per FT
share (the "Offering"). It is expected that proceeds from the sale of the FT Shares will be used largely for drilling and exploration
at the Golden Lion project (the "Golden Lion Project") in the northern Toodoggone mining district.
The Golden Lion Project is Evergold's flagship project. It was last drilled in 2021 and intercepted significant gold/silver
mineralization at the GL1 Main zone (See News, November 16, 2021) with the Company's best intercepts obtained in the final
three holes. A property wide review of all the historical data has aided in the design of a systematic drill program to test the
continuity of the mineralized zone both along trend and down dip of those intercepts.
In addition to drilling at the GL1 zone, the Company's proposed 2026 program will also be directed toward a large area in the
northern part of the property that shows highly anomalous copper values in historical stream sediment, rock, and soil samples.
This area was not previously explored by Evergold and had limited modern exploration. Following its option to acquire a 100%
ownership interest in four inlier claim groups in this northern area (See News, July 9, 2025), the Company plans to fly property-
wide airborne geophysics, and to undertake further geological mapping, soil sampling, and prospecting, with follow-up ground
geophysical surveys likely.
Financing Details:
Each HD Unit will be comprised of one (1)common share in the capital of the Company (each a "Common share") and one half
(0.5) of one Common Share purchase warrant (each whole warrant, a "HD Warrant"). Each HD Warrant will entitle the holder
thereof to acquire one additional Common Share of the Company at an exercise price of $0.80 for a period of twenty-four (24)
months following the closing of the Offering.
Each FT Share will be comprised of one (1)Common Share of the Company that qualifies as a "flow-through share" as defined in
subsection 66(15) of the Income Tax Act (Canada).
The gross proceeds from the issuance of the FT Shares will be used for "Canadian exploration expenses" on the Company's
Canadian mineral properties, primarily the Golden Lion Project, and will qualify either as "flow-through critical mineral mining
expenditures" or "flow-through mining expenditures" (the "Qualifying Expenditures"), each as defined in subsection 127(9) of
the Income Tax Act (Canada). The Company intends to renounce the Qualifying Expenditures to subscribers of FT Shares for the
fiscal year ended December 31, 2026 and to incur the Qualifying Expenditures on or before December 31, 2027. The net
proceeds from the issuance of the HD Units will be primarily used for exploration activities at the Company's properties, as well
as for general working capital purposes.
It is expected that the Offering will close on or about April 1, 2026, or such other date or dates that the Company may determine
(the "Closing Date"), subject to the receipt of all required regulatory approvals, including the acceptance of the TSX-V. All
securities issued and issuable in connection with the Offering will be subject to a hold period of four months and one day from
the date of issuance, in accordance with applicable Canadian securities laws.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption from the registration requirements. This press 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 be unlawful.
Qualified Person
Charles J. Greig, M.Sc., P.Geo., the Company's Executive Chairman 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 focused on advancing the Golden Lion project, its 100%-owned, gold-silver (copper) project in northern
British Columbia's prolific Toodoggone mining district. At the southern end of the Golden Lion Project, at the GL1 Main Zone,
previous drilling by the Company, along with historical work, has outlined a near-surface, epithermal-style gold and silver
bearing system with excellent potential for expansion along trend and down dip. The property was last explored by the Company
in 2021, when the final three holes yielded some of the most significant gold-silver intercepts ever drilled on the property (see
News January 17, 2022). To the north of the GL1 Main Zone, the property also has copper potential that is clearly evident in
historical data, and which has been realized recently elsewhere in the district.
On Behalf of the Board of Directors
Alex Walcott, P.Geo
President ,CEO & Director
Tel: (604) 891-6200
For additional information, please contact:
Dylan Berg
Capital Markets Advisor
Tel: (604) 319-6180
www.evergoldcorp.ca
Alex Walcott, P.Geo
President ,CEO & Director
Tel: (604) 891-6200
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 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 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 amendment of the size of the
Offering and the completion, terms and expected closing date of the Offering, 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.
SOURCE: Evergold Corp.