Dryden Gold Corp. [TSX-V: DRY) (OTCQX: DRYGF) (FSE: X7W] is pleased to announce that it has closed its previously announced (April 27, 2026) non-brokered equity financing to include an aggregate of 22,716,146 common shares for aggregate proceeds of $9,595,045.60. The Upsized Financing is comprised of flow-through common shares and charity flow-through common shares. 16,031,449 FT Shares were issued at $0.41 per FT Share for aggregate proceeds of $6,572,894.09, and 6,684,697 CFT Shares were issued at a price of $0.452 per CFT Share for aggregate proceeds of $3,022,151.51. 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). A finders’ fee of 6% cash, for a total of $291,028.46 under the Upsized Financing was paid to eligible arm’s length persons with respect to certain subscriptions accepted by the Company. Interward Asset Management Ltd. acted as financial advisor to the Company regarding the Upsized Financing.
 

The Company is pleased to announce that in connection with the Upsized Financing, Centerra Gold Inc. exercised 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 purchased 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. purchased 2,410,000 common shares issued under the charity flow-through portion of the financing.  Alamos now holds 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 issuance of the shares under the offering remains subject to the final acceptance by the TSX Venture Exchange and compliance with applicable regulatory requirements including requirements under National Instrument 45-106 – Prospectus Exemptions. All of the securities issued in connection with the Upsized Financing will be subject to a “hold period” of four months and one day pursuant to applicable Canadian securities laws.

EARLY WARNING REPORT BY ALAMOS GOLD INC.

An early warning report in respect of the  Share Issuance will be filed in accordance with applicable securities laws and will be available on Dryden’s SEDAR+ profile at www.sedarplus.ca. To obtain a copy of the early warning report, once filed, please contact Alamos at Brookfield Place, 181 Bay Street, Suite 3910, Toronto, Ontario, M5J 2T3, Attention: Scott K. Parsons, 416-368-9932 x 5439.

Alamos acquired the common shares for investment purposes, which investment will be evaluated and may be increased or decreased from time to time at Alamos’ discretion.

ABOUT DRYDEN GOLD CORP.

Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization and is listed on the TSX Venture Exchange (“DRY”), on the OTCQX Marketplace (“DRYGF”) and on the 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 a 100% interest in a dominant strategic land position in the Dryden District of Northwestern Ontario. 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.