Dryden Gold Corp. [TSX-V: DRY) (OTCQB: DRYGF) (FSE: X7W]  is pleased to announce that it has notified the Optionors of the option agreement dated February 8, 2022 that the Company has fulfilled its remaining expenditure obligations under the Option Agreement between Dryden Gold and Michael Tremblay (50%) and 2625286 Ontario Inc (50%).  The Company will now be making its final option payment, pursuant to which Dryden Gold will acquire a 100% interest in the Tremblay Property located at the northern portion of the Company’s 70,000-hectare land package that includes the Hyndman Property.

Under the terms of the Option Agreement, Dryden Gold has previously paid the Optionors a total of $212,500 cash and has issued an aggregate of 2,011288 common shares of the Company. The final payment consists of an additional $62,500 cash and the issuance of an additional 514,685 Shares at a deemed price of $0.3643 per share to Optionors to satisfy the remaining $250,000 payment on the Tremblay Property. The issuance price of the Shares was determined based on thirty days of trading in the Company’s stock on a volume-weighted basis for the period ending February 6, 2026. The Final Share Issuance is subject to TSX Venture Exchange approval, and 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 aggregate $1,200,000 in firm work commitments on the Tremblay Property and on completion of this option exercise will now own a 100% legal and beneficial interest subject to a 2% net smelter returns royalty to the Optionors of which 1% can be purchased by the Company, at any time, for $1,000,000.

Prior to the Final Share Issuance, the Optionors held an aggregate of 1,080,000 common shares of the Company. After the Share Issuance, the Optionors will hold an aggregate of 1,594,885 common shares of the Company representing a security holding percentage of less than 1% of the outstanding shares of the Company.

The Company also announces that it has granted an aggregate of 2,900,000 incentive stock options under the Company’s stock option plan to management, board of directors, employees, strategic advisors and consultants of the Company. The options are exercisable at a price of $0.40 per share for a period of 10 years from the date of grant. The options will vest 20% on the date of grant and 20% every six months thereafter for a total period of two years for management and will vest quarterly over one year for the independent directors.

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

Dryden Gold Corp. is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX Venture Exchange (“DRY”), on the OTCQB 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.