Dryden Gold Corp. [TSX-V: DRY] is pleased to announce that it has notified Alamos Gold Inc. (NYSE: AGI) that the Company has fulfilled its remaining obligations under the Option Agreement, dated April 20, 2022, between Dryden Gold and Manitou Gold Inc., a wholly owned subsidiary of Alamos.

Under the terms of the Option Agreement, Dryden Gold has paid Alamos a total of $2,000,000 payable as to $1,000,000 in cash and has issued an aggregate of 8,568,980 common shares at a deemed price of $0.1167 per share to Alamos to satisfy the remaining $1,000,000 on its Dryden Gold Property located in Northwest Ontario. The Shares were issued based on twenty days of trading in the Company’s stock on a volume-weighted basis for the period ending March 12, 2025. The proposed Share Issuance was previously disclosed in the Company’s TSXV Form 3D2 Filing Statement dated December 27, 2023, a copy of which was filed under the Company’s profile at www.sedarplus.ca on December 27, 2023. Please refer to the Filing Statement for a detailed description of the Dryden Option Agreement and the Dryden Property. All of the Shares will be subject to a hold period of four months and one day from the date of issuance.

Dryden Gold has also completed the required $1,400,000 in firm work commitments on the Dryden Property and will now own a 100% legal and beneficial interest to the Dryden Property subject to a 1% Net Smelter Returns royalty to Alamos and other permitted encumbrances.

Prior to the Share Issuance, Alamos holds an aggregate of 14,434,346 common shares of the Company, representing a security holding percentage of 9.58%. After the Share Issuance, Alamos will hold an aggregate of 23,003,326 common shares of the Company representing 14.44% of the outstanding shares of the Company making them Dryden Gold’s largest single shareholder.

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 advises that it is not aware of any plans nor has it any future intentions which relate to or result in any of items referred to in paragraphs 5 (a) to (k) of the early warning report, except pursuant to the Option Agreement whereby Alamos may receive additional common shares of the Company. In accordance with applicable securities laws, Alamos may, from time to time, acquire additional shares and/or other equity, debt or other securities or instruments (collectively, “Securities”) of the Company in the open market or otherwise, and reserves the right to dispose of any or all of its Securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the Securities, the whole depending on market conditions, the business and prospects of the Company and other relevant factors.

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 and traded on the OTCQB. 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.