Dryden Gold Corp. (TSX-V: DRY) (OTCQX: DRYGF) (FSE: X7W) is pleased to announce it has entered into an option agreement to acquire 100% ownership of 123 tenured mineral claims known as the Lost Lake Property from Orebot Inc. an arm’s length party. Lost Lake is strategically located in the historic Gold Rock Mining Camp and is surrounded by the Company’s existing claims (Figure 1). Gold mineralization in the Upper Manitou area is in brittle-ductile deformation zones related to the Manitou-Dinorwic Deformation Zone and hosts secondary splays, altered deformation zones and altered QFP intrusive bodies which are prime gold exploration targets in this orogenic gold system. Orebot has completed quaternary mapping, bulk till sampling, and heavy metal processing for gold grains. A 2.4 km long gold grain in till anomaly that corresponds with a regional gold-in-till geochemical anomaly a Lost Lake. The Agreement is subject to approval of the TSX Venture Exchange.

The Option Agreement

Under the terms of the Agreement to earn a 100% interest in The Property, Dryden Gold will make cash payments and issue 125,000 common shares of Dryden Gold as follows after approval of the TSXV:

1. in connection with signing the Agreement, cash payment of $10,000 plus the issuance and delivery of 25,000 Consideration Shares;
2. on or before the first Anniversary of the effective date of the Agreement, cash payment of $40,000 plus the issuance and delivery of 50,000 Consideration Shares; and
3. on or before the second Anniversary of the effective date of the Agreement, cash payment of $50,000 plus the issuance and delivery of an aggregate of 50,000 Consideration Shares.

The Consideration Shares are being issued in accordance with an exemption from prospectus requirements under applicable security legislation and will be subject to a hold period of four months and one day.

Grant of NSR Royalty

Following the Option Exercise, Dryden Gold will grant to Orebot a net smelter returns royalty, with the following terms:

1. the NSR shall be an aggregate of three percent (3%) after commencement of Commercial Production.
2. Dryden Gold shall have the right, at its sole option at any time, to acquire from Orebot one-half of the NSR of 3% by making a cash payment of an aggregate sum of $1,000,000.

There are no other outstanding royalties on the Property.

Figure 1- Lost Lake Property

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

ABOUT DRYDEN GOLD CORP.

Dryden Gold is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX-V (“DRY“) and traded on the OTCQX (“DRYGF“) and FSE (“X7W“). 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 100% interest in mining claims in a dominant strategic land position in the Dryden District of Northwestern Ontario. 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. Dryden Gold is committed to building respectful, collaborative relationships with Indigenous Nations and communities throughout our area of operations. We recognize the importance of ongoing dialogue, mutual understanding, and meaningful engagement as we advance our exploration activities.