Mr. Sean Hasson reports

BULGOLD ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF APPROXIMATELY $1.17 MILLION

Bulgold Inc. has closed its previously announced non-brokered private placement for gross proceeds of $1,174,684 from the sale of 23,493,678 common shares in the capital of the company at a price of five cents per share.

The company will use the net proceeds from the offering for continued exploration and development of its Lutila gold project, located in central Slovakia, for general corporate purposes, as well as for working capital.

In connection with the offering, certain arm's-length parties received an aggregate cash fee of $15,750 and an aggregate of 315,000 finders' warrants. Each finder's warrant entitles the finder to acquire one common share in the capital of the company at an exercise price of seven cents until Oct. 20, 2027. The finders' warrants and common shares issuable on exercise thereof are subject to a hold period expiring at the end of the day on Aug. 20, 2026.

Certain insiders of the company subscribed for an aggregate of $161,341.95 of shares pursuant to the offering. The issuances of shares to such insiders are considered related party transactions under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, in respect of such insider participation. The offering remains subject to the final approval of the TSX Venture Exchange.

The shares sold pursuant to the offering were issued: (a) to purchasers in certain provinces of Canada (other than the province of Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption; and (b) to purchasers in certain other jurisdictions outside of Canada pursuant to applicable regulatory requirements and in accordance with Ontario Securities Commission Rule 72-503, Distributions Outside Canada. The shares issued pursuant to the listed issuer financing exemption to investors resident in Canada and to investors outside of Canada pursuant to Rule 72-503 will not be subject to a hold period in Canada, provided, however, that the shares issued pursuant to the offering to certain insiders of the company are subject to a hold period pursuant to the policies of the TSX-V, which will expire at the end of the day on Aug. 20, 2026.

About Bulgold Inc.

Bulgold is a gold exploration company focused on the exploration and development of mineral exploration projects in Central and Eastern Europe. The company controls 100 per cent of three quality quartz-adularia epithermal gold projects located in the Bulgarian and Slovak portions of the Western Tethyan belt: the Lutila gold project, the Kostilkovo gold project and the Kutel gold project. Management of the company believes that its assets show potential for high-grade, good-metallurgy, low-sulphidation epithermal gold mineralization.

On April 20, 2026, Bulgold's issued and outstanding shares were 72,626,013, of which approximately 20.09 per cent were held by founders, directors and management. Additional information about the company is available on Bulgold's website and on SEDAR+.

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