Mr. Trey Wasser of Dryden Gold reports

DRYDEN GOLD COMPLETES $3.38 MILLION NON-BROKERED PRIVATE PLACEMENT AND STRATEGIC INVESTMENT BY CENTERRA GOLD

Dryden Gold Corp. has closed its previously announced $3.38-million non-brokered private placement of an aggregate of 14.93 million common shares (see press release dated Dec. 10, 2024).

Centerra Gold Inc. has acquired approximately 9.9 per cent of the issued and outstanding common shares of the company. The company and Centerra have also entered into an investor rights agreement (IRA) dated Dec. 17, 2024, whereby, subject to certain conditions, including time and ownership thresholds, Centerra will have certain rights, including the right to participate in future equity issuances to maintain its ownership in the company. A copy of the IRA will be available under the company's SEDAR+ profile.

The offering consisted of: (i) 11,988,824 charity flow-through common shares at a price of 24 cents per CFT share; and (ii) 2,941,176 hard-dollar common shares at a price of 17 cents per HD share, for total aggregate proceeds of $3,377,317. Centerra was the end purchaser of all the CFT shares (following the charitable flow-through donations in the offering) and all the HD shares. No finders' fees will be paid with respect of the shares. All of the common shares issued pursuant to the offering will be subject to a hold period of four months and one day.

The proceeds from the offering will be used to advance exploration at Dryden Gold's 70,000-hectare property in Northwestern Ontario. All of the gross proceeds received by the company from the issuance of the CFT shares will be used to incur eligible Canadian exploration expenses (as defined in Subsection 66.1(6) of the Income Tax Act (Canada)) that will qualify as flow-through mining expenditures (as defined in Subsection 127(9) of the tax act).

About Dryden Gold Corp.

Dryden Gold is an exploration company focused on the discovery of high-grade gold mineralization. The company has a strong management team and board of directors comprising experienced individuals with a record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls a 100-per-cent interest in a dominant strategic land position in the Dryden district of Northwestern Ontario. Dryden Gold's property package includes historical gold mines but has seen limited modern exploration. The property hosts high-grade gold mineralization over 50 kilometres of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys collaborative relationships with first nations communities and benefits from proximity to an experienced mining work force.

We seek Safe Harbor.