Boreal Gold Raises $595K in Second Tranche Financing

Boreal Gold Inc. has completed its second tranche of a non-brokered private placement, raising approximately $595,000 through a combination of flow-through shares and units. The proceeds—totaling $594,999.80—will fund exploration activities at multiple properties in Manitoba, including the Fay Lake, North Star Group, and Melgurd properties. The company issued 116,666 flow-through shares at $0.30 each, generating about $35,000, while 2,800,000 units priced at $0.20 each contributed roughly $560,000 to the total raise. The transaction followed an initial announcement on August 13, 2026, with a statutory hold period in Canada expiring on January 10, 2027, a four-month period required under securities law for investors to hold the securities before resale. The funds will support drilling at the Fay Lake Property, targeting the Redwin volcanic massive sulfide horizon and gold quartz veins, as well as prospecting, sampling, and geophysical mapping at the North Star Group and Melgurd properties. The Fay Lake Property, located 25 kilometers northeast of Flin Flon, covers 17 claims over 2,719 hectares, while the North Star Group Property, 50 kilometers west of Snow Lake, spans 2,922 hectares across 21 claims and two mining leases. The Melgurd Property, near Cornell Bay, includes 11 mineral claims totaling 7,411 hectares, with planned activities including airborne conductor evaluation and ground geophysics. Stephen L. Masson, serving as the qualified person under National Instrument 43-101, oversees the exploration programs.