P2 Gold - PGLDF STOCK NEWS

P2 Gold Inc. and Eskay Mining Corp. are mobilizing exploration crews to the Eskay-Corey Property in the Golden Triangle of northwest British Columbia. The exploration program, supervised by P2's Chief Exploration Officer Ken McNaughton, aims to ground-truth geological and geophysical data and develop drill targets. This mobilization follows a business combination agreement between Eskay and P2 signed on June 4, 2024. Phase One will focus on validating existing data, with Phase Two expected to begin later this year.

Eskay Mining and P2 Gold have agreed to merge, focusing on gold and copper exploration in the Golden Triangle and Nevada. Announced on June 4, 2024, the transaction will see Eskay acquire P2, with P2 shareholders receiving 0.2778 Eskay shares per P2 share. Upon completion, Eskay shareholders will own 80% and P2 shareholders 20% of the combined company. The merger aims to leverage P2's expertise, especially in the Eskay-Corey Property and Gabbs Project. The transaction requires multiple approvals, including from shareholders and regulatory bodies, and is expected to close by October 31, 2024.

P2 Gold Inc. (TSX-V:PGLD, OTCQB:PGLDF) has resumed its preliminary economic assessment (PEA) for the Gabbs Project in Nevada, now expected to conclude in Q3 2023. The PEA was initially delayed due to inflation concerns. A recent 3-D geophysical model identified a high-priority exploration target for gold-copper porphyry beneath the Gold Ledge Zone, though additional permits are required for drilling. Additionally, P2 Gold restructured payment terms with Waterton Nevada Splitter, LLC, raising their ownership to 19.9% through the issuance of new shares. This move aims to enhance the company’s financial position.

P2 Gold Inc. (TSX-V:PGLD) announced the successful restructuring of payment terms for the Gabbs Project acquisition, approved by the TSX Venture Exchange. The deal involves issuing 2,659,748 shares to Waterton Nevada Splitter, LLC, alongside a payment plan totaling US$5.8 million scheduled between 2023 and 2026. Additionally, a US$4 million zero coupon convertible note was issued, convertible at C$0.30 per share. The restructuring aims to strengthen the company's financial position and is considered a related party transaction under Multilateral Instrument 61-101.

P2 Gold Inc. (TSX-V:PGLD) has announced an agreement to acquire the Ball Creek Claims from a subsidiary of Orogen Royalties Inc. This acquisition includes the western portion of the Ball Creek Property, which borders P2's BAM Project. As per the terms, P2 will issue four million shares to Orogen and grant a 1% net smelter returns royalty on production from the claims. Furthermore, a 2% Sandstorm Gold royalty exists on the property, with the option to repurchase 1% for $1 million. The agreement is subject to approval by the TSX Venture Exchange.

P2 Gold Inc. (TSX-V:PGLD, OTCQB:PGLDF) announces a restructuring of payment terms for the acquisition of the Gabbs Project in Nevada, subject to approval by the TSX Venture Exchange. Under the new agreement with Waterton, P2 will delay majority payments for over three years, allowing strategic advancement of the project. The revised terms include issuing approximately 2.66 million shares and staggered cash payments totaling US$2.4 million by December 2026. A US$4 million convertible note will also be issued, convertible at C$0.30 per share. Waterton's stake will increase to 19.9% post-restructuring.

P2 Gold Inc. (TSX-V:PGLD, OTCQB:PGLDF) has filed a NI 43-101 technical report titled “Technical Report and Initial Mineral Resource Estimate of the Monarch Gold Zone” for its BAM Gold Property in British Columbia, effective January 24, 2023. Prepared by independent qualified persons from P&E Mining Consultants, the report is accessible on SEDAR and the company’s website. P2 Gold focuses on precious metals and copper exploration in the western United States and British Columbia, with Ken McNaughton verifying the technical information presented.