PACXF - PACXF STOCK NEWS

Pacton Gold Inc. (PACXF) announced the termination of its acquisition agreement for the Adeline high-grade copper project in Labrador, Canada, following extensive geological analysis. Interim CEO Nav Dhaliwal stated that the project's scale exceeds the company’s capacity for development. Additionally, Pacton will not proceed with a previously announced non-brokered private placement financing and will refocus on its existing projects in Red Lake, Ontario. The company is dedicated to exploring high-grade mineral resource properties in Canada and holds strategic interests in Western Australia.

Pacton Gold Inc. has filed a technical report for the Adeline Copper Project in Newfoundland and Labrador. The report, prepared by independent qualified geologists, supports the company's acquisition of the project, contingent on TSX Venture Exchange approval and a pending $2.5 million financing.

This acquisition aims to enhance Pacton's strategic position in high-grade mineral resource exploration, aligning with its focus on developing significant projects in Canada and Australia.

Pacton Gold Inc. (PACXF) announced a non-brokered private placement of 10,000,000 common shares at $0.25 per share, totaling $2,500,000 in gross proceeds. Funds will be allocated to acquire the Adeline Project, exploration, development activities, and general working capital. The offering is subject to TSX Venture Exchange approval. Pacton has entered a purchase agreement for a 100% interest in the Adeline copper project, pending regulatory approval. All issued securities will be under a four-month hold period.

Pacton Gold Inc. has updated the status of its acquisition of the Adeline copper project in Labrador, Canada, expected to enhance the company's market presence in the copper sector. Trading of Pacton shares will resume on November 17, 2022. The Adeline project spans 297 km², featuring hundreds of copper targets with demonstrated ore grades. The company aims to explore and de-risk the property to attract a global copper producer for acquisition and development. The project indicates potential, resembling notable copper deposits worldwide, though the acquisition is subject to TSX Venture Exchange acceptance.

Pacton Gold Inc. has clarified the number of shares to be issued to Chesterfield Resources PLC in a recent purchase agreement. Instead of the previously stated 54,482,310 Shares, approximately 12,700,000 Shares will be issued, representing 19.99% of the total issued and outstanding shares upon transaction completion. The company currently has 54,482,310 Shares outstanding. The shares to be issued will be subject to selling restrictions according to the terms outlined in the Purchase Agreement.

Pacton Gold Inc. has announced the acquisition of a 100% interest in the Adeline high-grade copper project from Chesterfield Resources PLC, through a Purchase Agreement dated October 18, 2022.

The Adeline project, located in Labrador, Canada, spans 297 km² and hosts over 250 copper occurrences, with assay values reaching 26.9% Cu.

With plans to commence drilling in Q1 2023, this acquisition is positioned as a fundamental transaction under TSX Venture Exchange policies and aims to enhance Pacton’s exploration capabilities.

Pacton Gold Inc. announced progress on its Red Lake gold project in Ontario. The 2022 drill program was completed comprising 15 holes totaling 5,698 meters, with three holes at the Boyden target encountering anomalous gold mineralization, contributing to a total of 18 mineralized drill holes. Surface work continues with mapping and prospecting in high-priority areas. The Red Lake Project is strategically located adjacent to production mines, enhancing its resource potential. The Swain property shows promise from recent high-resolution magnetic surveys.