Bald Eagle Gold Corp. (TSX-V: BIG) (OTCBQ: BADEF) is pleased to announce the completion of its non-brokered private placement, as described in its news release of May 11, 2022, of 30,666,666 units of the Corporation at a price of $0.075 per Unit for aggregate proceeds of approximately $2,300,000.

Each Unit consisted of one (1) common share in the authorized share structure of the Corporation and one (1) common share purchase warrant of the Corporation. Each Warrant shall be exercisable to purchase one additional Common Share at an exercise price of $0.11 until May 31, 2024.

In connection with the Offering, Crescat Portfolio Management LLC and certain accounts managed by Crescat collectively made a strategic investment in the Corporation of approximately $1,100,000. The Corporation granted Crescat a right to participate in future financings of the Corporation so as to allow Crescat to maintain its current equity stake on a pro rata basis. The Participation Right terminates on the date on which Crescat’s ownership of Common Shares falls below two per cent of the then outstanding shares on a non-diluted basis.

The securities issued in connection with the Offering are subject to a four-month hold period ending on October 1, 2022 in accordance with applicable Canadian securities laws.

Certain insiders of the Corporation participated in the Offering and purchased an aggregate of 2,005,000 Units. Participation of such insiders in the Offering constituted a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, but was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded 25% of the Corporation’s market capitalization. None of the Corporation’s directors expressed any contrary views or disagreements with respect to the foregoing. The Corporation did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the insiders of the Corporation had not been confirmed at that time.

About Bald Eagle Gold Corp.

Bald Eagle Gold Corp. is a junior mining company focused on the exploration and development of the Hercules Silver Project, northwest of Cambridge, Idaho. The Corporation’s management team brings extensive and successful international experience with a focus on identifying and acquiring prospective and under-explored precious metals properties worldwide. The board of directors have an established track record of creating significant returns for investors and have demonstrated access to capital to advance the development of assets. From time to time, the Corporation may also evaluate the acquisition of other mineral exploration assets and opportunities.