Gold Port Advances Exploration Momentum with New Private Placement

Core Viewpoint - Gold Port Corporation is initiating a non-brokered private placement to raise up to CAD$1,282,500 for advancing its Groete Gold Copper Project in Guyana, which has significant resource potential and is strategically located [1][3][5]. Financing Details - The company plans to issue up to 17,100,000 units at a price of CAD$0.075 per unit, with each unit consisting of one common share and one transferable common share purchase warrant [1][2]. - Each warrant allows the holder to acquire an additional common share at an exercise price of CAD$0.10, valid for five years from the closing date [2]. Project Overview - The Groete Gold Copper Project hosts a NI 43-101 Inferred resource of 1.57 million ounces Cu-Au equivalent, with potential for expansion [3][6]. - An initial drill campaign of up to 10,000 meters is planned to upgrade the existing resource and explore new target zones [4]. Market Context - The project is well-positioned with excellent accessibility via the Essequibo River system, and recent gold prices have exceeded US$4,000 per ounce, enhancing its value proposition [5][6]. - The historical resource calculation was based on a gold price of US$1,275 per ounce, indicating a strong opportunity in the current metals market [5].