Renegade Gold Announces Expanded Drill Program; Provides Corporate Update

Rhea-AI Summary

Renegade Gold Inc. announces an expanded drill program at its Newman Todd high-grade gold project in Ontario's Red Lake gold rush. The company confirms completion of post Trillium/Pacton transaction work with all debt cleared and funding secured. Renegade aims to capitalize on the robust mineralization potential of the project, targeting areas below 300m with high-grade gold grades.

Vancouver, British Columbia--(Newsfile Corp. - April 16, 2024) - Renegade Gold Inc. (TSXV: RAGE) (OTCQX: TGLDF) (FSE: 070) ("Renegade" or the "Company") is pleased to announce that planning is underway to expand the current drill program at its Newman Todd high-grade gold project in Ontario's Red Lake gold rush (Figure 1). Drill targeting work is underway for the additional holes and further details will be announced within the coming weeks. Additionally, Renegade is pleased to confirm that all post Trillium/Pacton transaction work is complete with all debt cleared and funding in place as the Company pursues its high growth exploration and development strategy.

Nav Dhaliwal, President and CEO for Renegade Gold, commented, "We have the ideal timing and drill targets for this expanded drill program. Renegade's Newman Todd gold project in Red Lake has robust mineralization over a 2.2 km strike length but has seen almost no drilling below 300 m. The few deeper holes that were drilled in 2022 hit grades such as 40.56 g/t over 4.18 m, which gives us a clear area of focus for growing this remarkable project."

Figure 1. Renegade Gold Red Lake Gold Project area.

To view an enhanced version of this graphic, please visit:
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The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., the Executive Chair and director of the Company and a Qualified Person pursuant to National Instrument 43-101.

About Renegade Gold Inc.

Renegade Gold Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The 89,600 hectares prospective and diversified exploration portfolio has significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today,

For further information, please contact:

Renegade Gold Inc.

Nav Dhaliwal
President, CEO and Director

info@renegadegold.com
Tel: 604-678-5308

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. The words "anticipate," "significant," "expect," "may," "will" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions that general business and economic conditions will not change in a materially adverse manner and all requisite information will be available in a timely manner. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, risks related to unforeseen delays; general economic, market or business conditions, regulatory changes; timeliness of regulatory approvals, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this Forward-Looking Information. The Company does not assume the obligation to revise or update this Forward-Looking Information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205586

FAQ

What project is Renegade Gold Inc. expanding its drill program on?

Renegade Gold Inc. is expanding its drill program on the Newman Todd high-grade gold project in Ontario's Red Lake gold rush.

Who is the President and CEO of Renegade Gold Inc.?

The President and CEO of Renegade Gold Inc. is Nav Dhaliwal.

What grades were achieved in the few deeper holes drilled in 2022 at the Newman Todd gold project?

Grades such as 40.56 g/t over 4.18 m were achieved in the few deeper holes drilled in 2022 at the Newman Todd gold project.

Who reviewed and approved the technical content of the news release?

The technical content of the news release was reviewed and approved by Dale Ginn, P.Geo., the Executive Chair and director of Renegade Gold Inc.