Evergold Announces Private Placement of up to $3,500,000 to Support Follow-up Drilling at DEM Gold-Silver++ Discovery, BC

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TORONTO, May 21, 2024 (GLOBE NEWSWIRE) — Evergold Corp. (TSX-V: EVER, OTC: EVGUF, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement financing for aggregate gross proceeds of up to $3,500,000 through the issuance of a combination of hard-dollar units of the Company (“HD Units”) at a price $0.045 per HD Unit and flow-through units (“FT Units”) at a price of $0.050 per FT Unit (the “Offering”).   It is expected that the majority of the gross proceeds from the sale of the FT Units will be used for drilling the large-scale DEM1 porphyry prospect in central B.C., where a small, first-ever 3-hole reconnaissance drill program carried out last fall delivered broad intercepts of low-grade gold and silver from surface and, within that broad envelope, local high grades of an impressive spectrum of high-value elements, including precious and strategic metals (see news, January 15, 2024).   Encouragingly, a geophysical survey completed earlier this month over the immediate area of the DEM1 prospect revealed a large target, suggestive of the presence of abundant sulphides, extending to depth below the reconnaissance drill holes (see news, May 13, 2024).

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