ESGold Corp. Closes C$3.45 Million Financing to Advance Montauban Toward Near-Term Gold and Silver Production

Rhea-AI Summary

ESGold Corp. (ESAUF) has successfully closed a non-brokered private placement, raising C$3.45 million in gross proceeds on April 11, 2025. The offering included 16,064,839 common shares and warrants at C$0.215 per unit, with each warrant exercisable at C$0.30 for 24 months.

The funding will primarily support the Montauban Gold-Silver Project in Quebec through:

• Mill circuit construction and assembly
• Final project mobilization
• General working capital requirements

Company insiders, including President Brad Kitchen, CEO Paul Mastantuono, and CFO Anthony Giuliano, participated with 1,250,000 units. The company paid C$165,628 in finder's fees and issued 770,361 broker warrants. This financing marks a important step toward ESGold's goal of becoming one of Canada's next gold and silver mining producers.

Vancouver, British Columbia--(Newsfile Corp. - April 16, 2025) - ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) ("ESGold" or the "Company") is pleased to announce the closing of its previously announced non-brokered private placement (the "Offering"), which closed on April 11, 2025, for gross proceeds of C$3,453,940.38. The Offering consisted of 16,064,839 common shares (each, a "Common Share") and 16,064,839 common share purchase warrants (each, a "Warrant") issued at a price of C$0.215 per Unit. Each Warrant entitles the holder to acquire one additional Common Share at a price of C$0.30 for a period of 24 months from the date of closing.

This successful closing represents a pivotal point for the Company, as it provides the necessary capital to initiate mill circuit construction and mobilize the final phase of development at the Company's fully permitted Montauban Gold-Silver Project in Quebec. The financing supports ESGold's broader strategy to become one of Canada's next gold and silver mining producers through near-term production and long-term district-scale exploration.

Use of Proceeds

The net proceeds from the Offering will be allocated to:

• Commencement of mill circuit construction and related assembly;
• Final project mobilization for the Montauban Gold-Silver Project; and
• General working capital requirements.

"This financing represents a major inflection point for the Company. With construction and processing circuit assembly now advancing, we are delivering on our commitment to build a scalable, profitable mining operation in one of the best jurisdictions in the world. I want to acknowledge the New York-based hedge funds who participated, as well as the loyal shareholders who have stood with us throughout the life of the company. Together, we are now making Montauban a reality," states Brad Kitchen, President of ESGold.

Management participated in the Offering, with insider subscriptions totaling 1,250,000 Units. Participants included Brad Kitchen (President and Director), Paul Mastantuono (Chief Executive Officer and Director), and Anthony Giuliano (Chief Financial Officer). Their continued support underscores strong internal confidence in ESGold's strategic direction and operational readiness. The insider participation in the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to subsections 5.5(a) and 5.7(1)(a), respectively, as the value of the securities to be issued to insiders does not exceed 25% of the Company's market capitalization.

In connection with the Offering, the Company paid finder's fees totaling C$165,628 and issued 770,361 non-transferable broker warrants, each exercisable at a price of C$0.30 for a period of 24 months.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.

Looking Ahead

With funding now secured and production on the near-term horizon, ESGold is entering a new phase of development. The Company is fully aligned around a clear mission: to begin generating gold and silver revenues from Montauban while laying the groundwork for long-term exploration and growth. As the mill circuit moves into construction and we await subsurface imaging that has the potential to define the true scale of the mineralized system, ESGold is aggressively executing on a plan designed to create lasting value and position itself as one of Canada's next gold and silver producers.

About ESGold Corp.

ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) 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 Montauban Gold-Silver Project toward near-term production while delivering long-term value through sustainable resource recovery and strategic exploration. The Montauban Project, located 80 km west of Quebec City, combines production-readiness with untapped district-scale exploration potential.

For more information, please contact ESGold Corp. at +1-888-370-1059 or visit www.esgold.com for additional resources, including a French version of this press release, past news releases, a 3D model of the Montauban processing plant, media interviews, and opinion-editorial pieces.

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On behalf of the Board of Directors,

Brad Kitchen
President & Director
info@esgold.com
+1-888-370-1059

Forward-Looking Statements:
This news release includes forward-looking statements within the meaning of applicable securities laws. These statements are based on assumptions and expectations that involve a number of known and unknown risks and uncertainties. Actual results could differ materially. Forward-looking information includes statements regarding the expected use of proceeds, the development and construction timelines of the Montauban Project, future production, and anticipated project milestones. Investors are cautioned not to place undue reliance on these forward-looking statements. All forward-looking information contained in this release is qualified by these cautionary statements.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248697

FAQ

How much did ESGold (ESAUF) raise in their April 2025 private placement?

ESGold raised C$3.45 million through a non-brokered private placement that closed on April 11, 2025.

What are the terms of ESGold's (ESAUF) 2025 warrant offering?

Each warrant allows holders to purchase one additional common share at C$0.30 for 24 months from the closing date.

How will ESGold (ESAUF) use the proceeds from their 2025 financing?

The proceeds will fund mill circuit construction, final project mobilization at the Montauban Gold-Silver Project, and general working capital needs.

What was the insider participation in ESGold's (ESAUF) April 2025 financing?

Company insiders subscribed for 1,250,000 units, including participation from the President, CEO, and CFO.

What finder's fees did ESGold (ESAUF) pay for their 2025 private placement?

ESGold paid C$165,628 in finder's fees and issued 770,361 non-transferable broker warrants exercisable at C$0.30 for 24 months.