Evergold Announces $350,000 Non-Brokered Convertible Debenture Private Placement with CJ Greig to Finance Drilling in Early November at the DEM Gold Prospect

Core Viewpoint - Evergold Corp. has announced a subscription agreement for up to $350,000 in unsecured convertible debentures, which will support drilling activities in the DEM Mountain Zone, aiming to explore promising intersections of precious and critical metals [1][2][3] Financing Details - C.J. Greig Holdings Ltd., owned by Evergold's Chief Exploration Officer, will subscribe for the debentures, which carry a 7.5% annual interest rate and mature on December 31, 2026 [1] - The principal amount can be converted into up to 1,521,739 common shares at a conversion price of $0.23 per share, along with detachable warrants [1][10] Drilling Plans and Results - The proceeds will facilitate immediate drilling below previously encouraging intersections of metals in the DEM Mountain Zone, with drilling expected to commence shortly [2][3] - Previous drill results indicated a broad zone of gold mineralization, with significant grades including 11.98 g/t Au over a narrow interval [4][9] - Proposed drill hole DEM25-06 aims to explore deeper continuity of the mineralized system, targeting approximately 200 meters below earlier intersections [5] Project Overview - The DEM property spans 12,728 hectares and is strategically located near Fort St. James, British Columbia, within a region known for significant mineral deposits [6][7] - The DEM prospect is characterized by geological features suggestive of a porphyry system, supported by geochemical and geophysical anomalies [8] Related Party Transaction - The issuance of the convertible debentures constitutes a related party transaction, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [10]