Vancouver, British Columbia —January 07, 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 17th 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 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
