ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) announces that further to its news release dated June 16, 2024, it has closed a non-brokered private placement of 4,998,865 units at a price of $0.73 per Unit, for aggregate gross proceeds of $3,649,171.

“Management would like to thank all who participated in the private placement. This Offering was over-subscribed by more than 11% as a direct result of large investments by existing shareholders and new strategic investors who recognized that ESGold is focused and on track to production in the very near future,” explained Paul Mastantuono, CEO and Director of ESGold.

Each Unit consisted of one common share in the capital of the Company and one common share purchase warrant. Each Warrant will entitle the holder to acquire one common Share at an exercise price of $0.91 per common Share for a period of eighteen (18) months from the closing date.

In connection with the Financing, the Company will pay a cash finder’s fee of $165,610 and issue 226,863 finder’s warrants. The Finder’s Warrants will be exercisable into common shares for a period of eighteen months from the closing date at an exercise price of $0.91 per common share.

All securities issued in connection with the Offering or subject to a restricted hold period of four months and one day from the date of closing of the Offering under applicable securities legislation.

The Company intends to use the proceeds raised from the Offering for mill circuit construction and related assembly, final project mobilization for the Montauban gold-silver project and general working capital requirements.

The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About ESGold Corp.

ESGold Corp. is a fully permitted, pre-production resource company at the forefront of clean mining and exploration innovation. With proven expertise in Quebec, the Company is advancing its projects toward production and feasibility while delivering long-term value through sustainable resource recovery and exploration. ESGold’s flagship Montauban property, located 80 kilometers west of Quebec City, serves as a model for responsible mining practices, combining near-term production with district-scale discovery potential.