Relevant Gold Corp. (CSE:RGC) is pleased to announce that it has closed its previously announced non-brokered private placement (see news release dated May 4, 2023). The offering was oversubscribed and a total of 12,292,480 Units have been issued at a price of $0.25 for gross proceeds of $3,073,120 and includes participation from New Gold Inc. (TSX:NGD) and a company controlled by Mr. Rob McEwen. Each Unit consists of one common share of the Company and a one-half share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company at a price of $0.35 per share for a period of 36 months from the date of issue.

In connection with the offering, New Gold Inc. increased its share position in the Company from approximately 7% to 9.9% interest. In addition, Mr. Rob McEwen purchased 4,000,000 Units of the offering, equivalent to an approximately 6.4% interest in the Company.

The proceeds from the sale of the private placement will be used to fund exploration activities at the Company’s Golden Buffalo and Lewiston projects in Wyoming, USA, and for general working capital.

“We are extremely pleased to close this oversubscribed financing at a premium to our share price in a challenging financing environment and we look forward to using the funds immediately to advance our Wyoming Gold project” said Rob Bergmann, CEO of Relevant Gold Corp. “We deeply thank our expanding shareholder base for their continued support.”

The Company paid a total of $29,662.50 finder’s fees in connection with the offering. All securities issued in the Private Placement are subject to a four month hold period from the closing date under applicable securities laws in Canada.

In connection with the Private Placement, Robert Bergmann and Brian Lentz, both directors and officers of the Company, each purchased a total of 124,200 Units. The issuance of Units to Mr. Bergmann and Mr. Lentz constitutes a “related party transaction” as defined under Multilateral Instrument 61-101. The transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued or the consideration paid by such persons exceed 25% of the Company’s market capitalization.

This news release does not constitute an offer to sell nor a solicitation of an offer to sell any securities in the United States. The securities have not been, and will not be registered under the United States Securities Act of 1933, as amended (The “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Relevant Gold Corp.

Relevant Gold Corp. is a North American gold exploration company founded by experienced exploration geologists and operated by a highly respected team with a proven record of significant value creation for shareholders. Relevant Gold is focused on the acquisition, exploration, discovery, and development of district-scale gold projects in the state of Wyoming – one of the most mining friendly jurisdictions in the United States and globally.