PACXF - PACXF STOCK NEWS

Pacton Gold Inc. (PACXF) has successfully completed a private placement of 3,718,180 flow-through shares at a price of $0.55 per share, raising total gross proceeds of $2,044,999. The funds will be allocated for Canadian Exploration Expenses, qualifying as flow-through mining expenditures under the Income Tax Act (Canada). All securities from this placement will be subject to a statutory hold period until March 26, 2022. Pacton is focused on exploring high-grade gold properties in Ontario's Red Lake region and holds projects in Western Australia's Pilbara region.

Pacton Gold Inc. (OTC PINK:PACXF) announces the discovery of a new gold bearing system at its Red Lake Project in Ontario, featuring a 2 km mineralized trend in the Claremont area. Recent sampling revealed gold mineralization with zones measuring up to 60 m long and 50 m wide. The findings suggest a promising drill target, correlating with historical data and geological similarities to the LP Fault of Great Bear Resources. Pacton plans to expedite drilling along this new trend in the upcoming winter season.

Pacton Gold Inc. has appointed Karly Oliver, P.Geo., as Vice President Exploration, strengthening its leadership in the Red Lake region's gold exploration. With over a decade of experience and prior roles at New Gold Inc., Oliver will leverage her expertise as the company progresses towards upcoming drilling programs. Interim President and CEO Nav Dhaliwal expressed confidence in Oliver's knowledge and its significance for the company's future. Pacton Gold focuses on high-grade gold properties in both Ontario and Western Australia.

Pacton Gold Inc. announced the successful identification of a new gold trend at its Red Lake project, confirming mineralization over a strike length of 600 m on the Faulkenham gold trend. Proximity to PureGold's Madsen Mine enhances its potential. Drilling completed revealed gold across four targets in the region, with a total of 12 holes intersecting mineralization. The company is advancing a surface exploration program and plans further drilling in winter 2021. Due to assay backlogs, samples are now sent to an alternate lab for faster analysis.

Pacton Gold Inc. announced successful results from Phase II of its winter drill program at the Sidace project in Red Lake, Ontario, where 7 out of 8 holes intercepted mineralization. Notably, the Upper Duck zone was extended with results including 20.6 g/t Au over 1.0 m. Pacton increased its ownership in the Sidace project to 46.7%. The total drilling cost was $1.9M. Phase I and II drilling confirmed high-grade mineralization, with significant intersections like 9.0 g/t Au over 2.3 m. A downhole televiewer survey will enhance geological modeling for future drilling efforts.

Pacton Gold Inc. (PACXF) has mobilized field crews for an extensive summer exploration program at its Red Lake Gold project, covering 28,000 ha. This initiative includes soil sampling, prospecting, and outcrop stripping, aimed at refining drill targets for a planned drilling campaign in late 2021. The company is experiencing delays in assay results due to COVID-19, but expects to receive them soon. The CEO emphasized the importance of this multi-phase program, which is critical for future drill targeting.

Pacton Gold has completed its winter drill programs at the Sidace and Red Lake gold projects in Ontario, totaling 20,494 meters across 42 holes. The Sidace project, in partnership with Evolution Mining, showed promising high-grade results during Phase 1, with further assays pending for Phases 2 and 3. At Red Lake, the winter campaign also concluded successfully, and an extensive summer exploration program is set to begin, including 8,000 soil samples. The company anticipates resuming drilling in Fall 2021 following assay evaluations.

Pacton Gold Inc. has finalized an agreement to vend 75% of three properties in its Western Australian Pilbara portfolio to Raiden Resources Limited. The agreement, initially disclosed on October 13, 2020, is now completed following the transfer of necessary documentation. Pacton will receive CDN$500,000 upfront and another CDN$500,000 on the first anniversary of the transaction. Additionally, Pacton retains a 25% carried interest, which could lead to a joint venture if a mineral resource of at least 250,000 oz of gold is identified.