Dryden Gold Corp. [TSX-V: DRY) (OTCQX: DRYGF) (FRA: X7W] is pleased to announce that as a result of excess demand it is increasing the previously announced (April 14, 2026) non-brokered equity financing to include up to an aggregate of 23,000,000 common shares for aggregate proceeds of up to $9,716,280. The Upsized Financing is comprised of flow-through common shares and charity flow-through common shares. Up to 16,200,000 FT Shares will be offered at $0.41 per FT Share for aggregate proceeds of up to $6,642,000. And up to 6,800,000 CFT Shares will be offered at a price of $0.452 per CFT Share for aggregate proceeds of up to $3,074,280. The FT Shares and the CFT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) and “Ontario focused flow-through shares” as defined in the Taxation Act, 2007 (Ontario). The Upsized Financing is subject to compliance with applicable securities laws and the approval of the TSX Venture Exchange. Finders’ fees of 6% cash under the Upsized Financing may be payable to eligible arm’s length persons with respect to certain subscriptions accepted by the Company. The Upsized Financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. All the securities issued under the Upsized Financing will be subject to a hold period of four months and one day.
 

The Company is pleased to announce that in connection with the Upsized Financing, Centerra Gold Inc. will the exercise their ‘top-up right’ to retain their 9.9% interest in the Company as granted within the investor rights agreements, dated December 17, 2024. Centerra will purchase 2,305,000 common shares issued under the charity flow-through portion of the financing.

The Company is also pleased to announce that Alamos Gold Inc. will purchase 2,410,000 common shares issued under the charity flow-through portion of the financing.  Alamos currently holds an aggregate of 23,003,326 common shares of the Company, representing a security holding percentage of 10.46%. At Closing Alamos will hold an aggregate of 25,413,326 common shares of the Company maintaining its 10.46% ownership of the outstanding shares of the Company.

The gross proceeds of the Upsized Financing will be used to fund additional drilling and exploration on the Company’s 90,000-hectare property in northwestern Ontario.  An amount equal to the gross proceeds from the issuance of the FT Shares and the CFT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) “Canadian exploration expenses” (as defined in the Tax Act), (ii) as “flow-through mining expenditures” (as defined in subsection 127(9) of the Tax Act); and as “eligible Ontario exploration expenditures” within the meaning of the Ontario Tax Act.

The Company anticipates that insiders may subscribe for CFT Shares. The issuance of CFT Shares to insiders is considered a related party transaction subject to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(b) and 5.7(b) of Multilateral Instrument 61-101.

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.

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 OTCQX (“DRYGF”), Frankfurt Stock Exchange (“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 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 First Nations support and proximity to an experienced mining workforce.