Vancouver, British Columbia — [May 7, 2025] — Dryden Gold Corp. [TSXV: DRY, OTCQB: DRYGF] (“Dryden Gold” or the “Company”) is pleased to announce drill results for the new hanging wall discovery on the Elora Gold System in the Gold Rock Camp. The Company first announced this intercept with significant visible gold (“VG”) on April 8. Assays have now confirmed results of 301.67 g/t over 3.90 meters including 1,930 g/t over 0.60 meters and represent a newly discovered hanging wall zone with folded quartz stringer veins hosted in sheared basalts (Figure 1). This newly intercepted hanging wall gold mineralization in hole KW-25-003 is approximately 80 meters from main Jubilee high-grade zone at a true depth of 250 meters (Figure 2).
Trey Wasser, CEO of Dryden Gold stated “We continue to make high-grade gold discoveries across our district-scale property. The discovery of this new zone shows the potential for hanging wall and footwall mineralized structures hosting significant gold mineralization similar to our discoveries last year on the Big Master Gold System. This discovery was facilitated by our extensive mapping program last summer that has revealed a third structural trend (“D3”) in the Gold Rock Camp (Figure 3). Our field work and structural interpretation continues to yield results at the drill bit. As we drill test regional targets at Mud Lake, Sherridon and Hyndman as part of our fully funded exploration program for 2025, the market will begin to realize the full potential of this incredible under-explored property. Shareholders should expect drill results and other news flow on a very consistent basis into the fall”.
The geology team will now increase its focus on unlocking the potential of these additional mineralized structures for hosting high-grade gold zones (Figure 3). The occurrence of multiple parallel mineralized structures is another striking similarity to the Red Lake Mine and the Company is planning follow up holes to further test this new hanging wall structure to the northeast where it is completely open on strike.
Drilling Update
The Elora Gold System, which hosts the potential for several high-grade zones at the structural intersections, will be a major focus of the 2025 drill campaign. To date, Dryden Gold has drilled 12 holes totalling approximately 4,083 meters testing the Elora Gold System in late 2024 and 2025. Six of these holes targeted the down plunge mineralization potential on the Jubileehigh-grade zone between 250 and 500m true depth (Figure 3 and Figure 4). Initial 2025 results have been favourable on the Jubilee zone as all five deeper holes have intersected zones of sulphide mineralization and shearing at target depth with results back on holes KW-25-001 through KW-25-003 showing more down plunge potential on the Jubilee Zone (Table 1).
Table 1: Dryden Gold Drill Results *Reported intervals are drilled core lengths; assay values are uncut
The next drill targets in Dryden Gold’s fully funded 2025 exploration program will test the Elora Gold System along strike northeast at the historic Laurentian Mine and Intersection Target (Figure 3). The Company is also permitted to drill the continuation of the Elora Gold System and Big Master Gold System to the northeast including the newly discovered Mud Lake target approximately two kilometres along strike.
Targeting High-Grade through Structural Interpretation
The geological team has been improving its structural interpretation for the Gold Rock Camp area. Using this new more detailed understanding of the three major structural trends the team will be targeting their intersections to host additional high-grade zones along the northeast trending mineralized systems.
For updated technical drilling details of our 2025 drill program, please click here.
Closing of Centerra Gold Inc. Top-Up Financing
Further to its previous news release of April 23, 2025, the Company announces that, as a result of receiving a top-up notice from Centerra Gold Inc. (“Centerra”) to retain its 9.99% interest in the Company, it has now issued an aggregate of 1,087,295 common shares to Centerra at a price of $0.1350 per share for a total consideration of $146,784.83.
Grant of Stock Options
The Company announces that it has granted an aggregate of 300,000 incentive stock options under the Company’s stock option plan to employees of the Company. The options are exercisable at a price of $0.24 per share for a period of 10 years from the date of grant. The options will vest 25% every three, six, nine and twelve months from the date of grant for a total period of one year. The granting of stock options is subject to TSX Venture Exchange Approval.
UPCOMING MARKETING EVENT
Management will be participating at the Metals Investor Forum in Vancouver on May 9, 2025. President, Maura Kolb, P. Geo. will be presenting at 3:30pm PDT as part of newsletter writer, Jeff Clark’s panel. Dryden Gold will be updating investors on the current drill program and management will be available to meet in person at our booth from 9-5:30pm PDT. We welcome the opportunity for investors to review our updated corporate presentation, linked here.
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 The Company is drilling NQ size core. Samples are cut in half, with half going to the lab for analysis and half kept as a record. 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 2024 and 2025 program were sent to Activation Laboratories, with sample preparation and analysis in Dryden, 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. Select samples were analyzed using metallic screens. 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 traded on the OTCQB (“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 acknowledges all Indigenous Peoples and that it is operating on the traditional homelands of the Wabigoon Lake Ojibway Nation and Eagle Lake First Nation. 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: twasser@drydengold.com
Phone: 940-368-8337
Maura Kolb, M.Sc., P. Geo, President
Email: mjkolb@drydengold.com
Phone: 807-632-2368
Ashley Robinson, Investor Relations
Email: ir@drydengold.com
Phone: 604-764-7493
X: DrydenGold
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.
