Dryden Gold Provides 2024 Summary to Shareholders
Dryden Gold Corp. is reflecting on a year marked by significant exploration achievements, key tactical land acquisitions, and substantial activity in the capital markets. The technical team made remarkable progress in defining geological structures controlling high-grade gold mineralization in the Gold Rock Camp, culminating in Centerra Gold Inc. acquiring a 9.9% strategic equity position. With this support, Dryden Gold is fully funded for an ambitious exploration program in 2025.
Trey Wasser, CEO of Dryden Gold, commented, “2024 was a transformative year for Dryden Gold Corp. From our successful public listing to securing Centerra’s strategic investment, we have made substantial strides in exploration, land acquisition, and investor engagement. Our technical team has delivered exceptional results, including identifying new high-grade structures and deeper zones at Elora that reflect similarities to the Red Lake Camp. With strong financial backing, we are poised to further explore the district-scale potential of our consolidated land package in 2025.”
2024 Highlights
Capital Market Achievements
• Secured a $3.38 million non-brokered private placement in December, with a strategic investment by Centerra Gold.
• Successfully closed a $5.1 million private placement in October, upsized three times due to strong demand.
• Listed on the TSX Venture Exchange in January, completing a $5.1 million RTO financing.
• Conducted robust marketing campaigns, including participation in key conferences and securing newsletter writer coverage.
Exploration Success
• Delivered high-grade intercepts at Elora, including:
• 8.93 g/t gold over 12.45 meters, including 32.96 g/t gold over 2.73 meters.
• 30.72 g/t gold over 5.70 meters.
• 26.11 g/t gold over 3.16 meters at Big Master.
• Advanced geological understanding through re-logging historic core and testing hanging wall and footwall structures.
Strategic Land Acquisitions
• Acquired the Cross River property, contiguous to Gold Rock Camp.
• Staked the Hyndman property and added the Shear Gold property, enhancing the Sherridon and Gaffney holdings.
• Invested $3.5 million in property payments to Alamos Gold Inc., with full ownership secured by April 2025.
Strategic Investment by Centerra Gold
In December, Centerra Gold acquired approximately 9.9% of Dryden Gold’s outstanding shares. The investment included 11,988,824 charity flow-through shares at $0.24 per share and 2,941,176 hard dollar shares at $0.17 per share, generating aggregate proceeds of $3.38 million. Centerra has also entered into an investor rights agreement, granting it rights to participate in future equity issuances.
Plans for 2025
Dryden Gold’s fully funded $5.8 million exploration program for 2025 includes:
• Deeper drilling and strike extensions on the Elora structure.
• Testing new targets at the Laurentian Mine and D-1 cross structures.
• Exploration at Mud Lake, pending permits.
• Soil testing, LiDAR surveys, and mapping at Hyndman, Cross River, and Sherridon.
• Continued marketing campaigns and participation in industry conferences.
Dryden Gold invites investors to follow its progress as it advances exploration and development in the Dryden Gold District.
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