Precore Gold Closes Second Tranche of Private Placement

VANCOUVER, British Columbia, Oct. 22, 2025 (GLOBE NEWSWIRE) -- Precore Gold Corp. (CSE: PRCG) (the “Company” or “Precore Gold”) is pleased to announce that further to its news releases of August 21, September 9, September 18, 2025 and October 3, 2025, it has closed the second and final tranche (the “Second Tranche”) of its previously-announced non-brokered private placement (the “Private Placement”). The Second Tranche consisted of 2,081,662units of the Company (the “Units”) at a price of C$0.18 per Unit for aggregate gross proceeds of C$374,700. Each Unit consists of one common share of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one additional Common Share (a “Warrant Share”) at an exercise price of C$0.25 for a period of thirty-six (36) months from the date of issuance.

Together with the 5,555,720 Units issued under the first tranche of the Private Placement for gross proceeds of C$1,000,029.60 announced in Precore Gold’s September 18, 2025 news release, the Company has issued an aggregate of 7,637,382 Units under the Private Placement for total gross proceeds of C$1,374,729.60.

The Company intends to use the net proceeds of the Private Placement to fund exploration work and for general working capital purposes.

Canaccord Genuity Corp. (“Canaccord”) acted as financial advisor to the Company in connection with the Private Placement. The Company paid an advisory fee to Canaccord in the amount of C$25,000 plus 13% HST through the issuance of Common Shares (the “Advisory Fee Shares”) at a deemed price of C$0.18 per Advisory Fee Share.

All securities issued under the Second Tranche, including the Advisory Fee Shares, are subject to a statutory hold period of four months and one day expiring on February 22, 2026, and are also subject to an Exchange Hold (as this term is defined under the policies of the Canadian Securities Exchange) for a period of four months expiring on February 21, 2026.

Paul A. Dumas, Executive Chairman of the Company comments, “This has been a successful first round of financing for the Company. Given the recent rally in the market and peaking commodity prices, we decided to close the placement below the targeted amount in order to minimize shareholder dilution at these levels. The raised proceeds will go a long way in supporting the kick off of upcoming exploration programs at the Arikepay and Lac Big-Rush projects. We plan to initiate work very shortly at our highly prospective Lac Big-Rush property in Chibougamau, Quebec ─ which is located adjacent to Northern Superior’s Croteau deposit (640,000 oz at 1.73 g/t¹) ─ a mining camp that has seen a tremendous amount of attention, especially this week with the announcement of mining giant Iamgold’s acquisition of Northern Superior, in order to create the “Nelligan Mining Complex” (Iamgold press release October 20, 2025). See Precore Gold’s Lac Big-Rush property location here: https://shorturl.at/EKaZx

¹ nsuperior.com

About Precore Gold Corp.

Precore Gold is a Canadian junior gold exploration company focused on building a solid portfolio of exploration projects with strong gold discovery potential, in order to capture the strength of the gold market and to generate shareholder returns. The Company plans to seize opportunities, whereby promising properties are located in prolific mining camps, may contain important historical drilling results and are located in politically stable, Tier 1, mining-friendly jurisdictions. Precore Gold’s mission is supported by diligent environmental, social and corporate governance (ESG) standards.

For shareholder inquiries, please contact:

Paul A. Dumas, Executive Chairman
Email: precoregoldcorp@gmail.com
Tel: 514-994-1069
www.precoregold.com

Forward-looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the completion of the Second Tranche, future geological work or exploration programs, the potential positive exploration results, the timing of the exploration results, the ability of the Company to finance exploration programs and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

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

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.