Boreal Gold closes first tranche of private placement at $215,100

Boreal Gold Inc (CSE: BGLD) has closed the first tranche of a non-brokered private placement, raising $215,100, according to a company statement.

The closing consists of 717,000 flow-through shares priced at $0.30 per share. The placement was originally announced on August 13, 2026, and updated on August 26, 2026.

The offering remains subject to regulatory approvals, and the securities carry a four-month statutory hold period in Canada, ending January 1, 2027. The flow-through shares are issued under the meaning of the Income Tax Act (Canada).

Boreal Gold intends to use the proceeds for exploration activities across three properties in Manitoba and Saskatchewan. At the Fay Lake property, funds will support drilling of the Redwin volcanic massive sulfide horizon and high-grade gold quartz veins, along with assays, line cutting, and geological mapping. At the North Star property, proceeds will fund prospecting, sampling, and mapping between the North Star and Gold Rock deposits. At the Melgurd Lake property, funds will support evaluation of airborne conductors near Cornell Bay, including ground geophysics, mapping, and prospecting.

Boreal Gold is a junior mineral exploration company focused on properties in northwest Manitoba and northeast Saskatchewan. All of its properties are at the exploration stage.

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