Mr. Kevin Keough reports

EVERGOLD ANNOUNCES CLOSING OF $350,000 CONVERTIBLE DEBENTURE PRIVATE PLACEMENT WITH CJ "CHARLIE" GREIG; DRILLING AT DEM IS UNDERWAY

Evergold Corp. has closed its non-brokered private placement of an unsecured convertible debenture for aggregate gross proceeds of $350,000. The convertible debenture bears interest at a rate of 7.5 per cent per annum and will mature on Nov. 6, 2027. Subject to certain conditions, the principal amount of the convertible debenture is convertible into up to an aggregate of 1,521,739 common shares (assuming the entire principal amount is converted) in the capital of Evergold at any time prior to the maturity date at a conversion price of 23 cents per debenture share. Interest accrued on all or any portion of the convertible debenture being converted by the holder may also be converted into common shares at the option of the investor at the time of conversion at a conversion price equal to the market price (as that term is used in the policies of the TSX Venture Exchange) as at the date of conversion. The investor will also receive 3,000 detachable common share purchase warrants for each $1,000 of principal of convertible debenture subscribed for, for a total of 1.05 million warrants. Each warrant will be exercisable into one share at a price of 23 cents per warrant until the date that is two years from the date of issuance. All securities issued and issuable are subject to a hold period of four months and one day from the date of issuance.

Drill start at DEM

Drilling commenced on Tuesday this week on a core hole below highly encouraging intersections of precious and critical metals achieved at shallower levels in 2023 (hole DEM23-03) and 2024 (DEM24-05) within the DEM Mountain zone, located on the company's DEM property near Fort St. James in central British Columbia (see news releases dated Oct. 29, 2025, Dec. 11, 2024, and Jan. 15, 2024). Drilling is expected to take a week to 10 days.

Related party transaction

C.J. Greig Holdings Ltd., a company wholly owned by C.J. (Charlie) Greig, a director of the company and Evergold's chief exploration officer, acquired the entire $350,000 principal amount of the convertible debenture. This issuance of securities constitutes a related party transaction as such term is defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a) of MI 61-101 on the basis that the issuance of the securities does not exceed 25 per cent of the fair market value of the company's market capitalization.

About Evergold Corp.

Evergold is a TSX-V-listed mineral exploration company with projects in British Columbia and Nevada. The Evergold team has a record of success in the junior mining space, most recently the establishment of GT Gold Corp. in 2016 and the discovery of the Saddle South epithermal vein and Saddle North porphyry copper-gold deposits near Iskut, B.C., sold to Newmont in 2021 for a fully diluted value of $456-million, representing a 1,136-per-cent (12.4-times) return on exploration outlays of $36.9-million.

We seek Safe Harbor.