COMPASS GOLD CORP - COGDF STOCK NEWS

Compass Gold Corp (TSXV: CVB) announces a fully subscribed non-brokered private placement of 600 convertible debenture units at $1,000 per unit, totaling $600,000. Each unit includes a $1,000 convertible debenture and 5,000 warrants exercisable at $0.18. The debentures mature on June 30, 2025, with 10% annual interest and are convertible at $0.18 per share.

Proceeds will fund the Tarabala Project in Southern Mali, focusing on delineating mineralized zones and developing a small gold mining operation. The company has secured a toll-treating agreement with SMAT for processing ore at their Small Mining Facility, with installation of updated processing components expected in Q1 2025.

Compass Gold has announced a joint-production agreement with SMAT, a Malian business group, to commence gold production at the Massala prospect along the 15 km Tarabala Trend in Mali. The agreement involves toll-treating Compass ore at SMAT's adjacent Small Mining Facility, with operations planned to begin in Q1 2025. The facility will process up to 50 tonnes/hour, within Mali's Small Mines code limit of 200,000 tonnes/year and 160,000 ounces over four years. The mineralization exceeds the profitable threshold of 1-gram-per-tonne. Free cash flow will fund operations, convertible debenture repayments, and expansion of exploration activities.

Compass Gold Corp. (TSXV: COGDF) has reported promising results from its trench sampling program at the Massala prospect in Mali. Key highlights include:

• Best intercept: 21 m @ 3.51 g/t Au (2 m depth; MATR004)
• Highest-grade interval: 1 m @ 40.29 g/t Au (2 m depth; MATR004)
• Near-surface strike length of 150 metres identified

The company is proceeding with a Small Mine Permit application under Mali's new Mining Code, which allows for production of up to 160,000 ounces of gold over four years. Compass believes the grades and tonnage at Massala, combined with the new mining code terms, could enable near-term production amid high gold prices.

Compass Gold Corp. (TSXV: CVB) has completed the second tranche of its non-brokered private placement offering of convertible debenture units. The company raised $175,000 by issuing 175 units at $1,000 each. The offering is subject to TSX Venture Exchange approval, and securities issued have a four-month hold period.

Insiders participated in the offering, purchasing 30 units for $30,000. This related party transaction is exempt from certain regulatory requirements. The offering was not registered under the U.S. Securities Act and cannot be offered or sold in the United States without registration or exemption.

Compass Gold Corp. announced a non-brokered private placement, offering 175 convertible debenture units at $1,000 each, totaling $175,000. This follows a previous issuance on June 30, 2023, which raised $650,000. The proceeds will fund basic operations and preparations for a Small Mining application for the Tarabala Small Gold Mine Project in Mali.

Each unit consists of a $1,000 unsecured convertible debenture and 5,000 warrants, convertible to shares at $0.10 each, with a 10% annual interest rate, maturing on June 30, 2025. Approval from the TSX Venture Exchange is required for interest payments in shares. Insiders will purchase 30 units for $30,000. The offering requires regulatory approval and customary conditions.

Compass Gold Corp. is making significant progress in developing a small mining operation at Massala and Tarabala gold resource areas. The company has completed nine new trenches at Massala, collected over 2,000 samples for assaying, and developed a comprehensive model validating the economics of a Small Mine scenario. Discussions with potential financing partners and operations partnerships are underway. The cost to complete the sample collection, assay results, and resource estimate is approximately CDN$300,000, projected to be completed by April 2024. The preliminary modelling indicates a modest all-in capital cost of approximately US$4.5M, with accelerated time for building, delivering, and commissioning all plant and mine site facilities within approximately eight months of initial capital advances.

Compass Gold Corp. provides an update on recent trenching sampling program at the Tarabala prospect in Mali. Highest-grade interval at Massala includes 20 m at 4.13 g/t Au. Additional trenching planned at Massala. Results indicate potential for small mining operation.

Compass Gold Corp. (TSXV: CVB) provides an update on the recent trench sampling program at the Tarabala prospect, located on the Company's Sikasso Property in southern Mali. The program includes the completion of four trenches, 979 samples submitted for assay, and plans for metallurgical studies. The company aims to define shallow mineralization and conduct resource estimates for potential small-mining operations.