Mr. Nav Dhaliwal reports

RENEGADE GOLD ANNOUNCES $1 MILLION FLOW-THROUGH PRIVATE PLACEMENT

Renegade Gold Inc. has proposed to undertake a non-brokered private placement of flow-through common shares (FT shares) at a price of 18 cents per FT share for gross proceeds of up to $1-million.

The company intends to use the gross proceeds of the placement to incur Canadian exploration expenses that are flow-through mining expenditures (as such terms are defined in the Income Tax Act (Canada)) related to the company's projects in Ontario. In particular, the gross proceeds will be used to advance the company's exploration program in the highly prospective Red Lake district, Ontario. The program will focus on follow-up drilling at the Newman Todd project, where recent results included an intersection of 14.0 grams per tonne Au (gold) over 7.3 metres (see Renegade news release dated Sept. 25, 2024). Additionally, Renegade will prioritize high-priority drill targets across its Red Lake properties, including Gullrock, an underexplored section of the Balmer assemblage on the Red Lake mine trend, as well as its central Red Lake property adjacent to Kinross's Great Bear project, Evolution Mining and West Red Lake Gold's Madsen deposit.

The company may pay finders' fees comprising cash and non-transferable warrants in connection with the placement, subject to compliance with the policies of the TSX Venture Exchange and applicable securities laws. The company anticipates closing of the placement (in one or more tranches) as soon as practicable subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued under the placement will be subject to applicable regulatory holds expiring four months and one day from date of issue.

About Renegade Gold Inc.

Renegade Gold 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 company's ownership in Red Lake includes over 89,600 hectares of prospective and diversified exploration properties with significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today.

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