Evergold Enters Definitive Option Agreement to Acquire a 100% Interest in the Copper King Inlier Prospects

Core Viewpoint - Evergold Corp. has entered into a definitive option agreement to acquire a 100% ownership interest in four claim groups totaling 173 hectares within its Golden Lion property, subject to regulatory approvals and a share consolidation [1][2]. Group 1: Option Agreement Details - The option agreement is with Richard Billingsley and Gaye Richards, allowing Evergold to acquire the claims known as the 'Copper King' property [1]. - The completion of the option is contingent upon a share consolidation of ten pre-consolidation shares for one post-consolidation share, and a staged payment of 533,332 post-consolidation shares over two years [1]. - Upon exercising the option, Evergold will grant a 2.5% net smelter returns royalty to the Optionors, with the possibility to buy back 1.5 percentage points for $1.5 million [1]. Group 2: Historical Exploration Insights - The acquired tenures include the Goat, Chuck, Copper King, and Claw prospects, with historical drilling in 1975 at Claw indicating copper mineralization [3]. - Previous rock sampling in 1984 revealed high values of copper and silver mineralization in vein-fracture systems, but no exploration has occurred since due to recommendations to wait for higher metal prices [3]. Group 3: Company Background - Evergold Corp. is a mineral exploration company listed on TSX-V, with a successful track record in the junior exploration sector, including the establishment of GT Gold Corp. and the discovery of significant deposits sold to Newmont for a fully diluted value of $456 million [5].