Dryden Gold Acquires Additional Property in the Gold Rock Camp
Rhea-AI Summary
Dryden Gold (OTCQX:DRYGF) entered an option agreement to acquire 100% of 123 mineral claims forming the Lost Lake Property in the historic Gold Rock camp, surrounding its existing claims. The deal, subject to TSXV approval, totals $100,000 plus 125,000 shares and includes a 3% NSR royalty with a 1.5% buyback option for $1,000,000.
Positive
- Option to acquire 100% of 123 Lost Lake mineral claims
- Total cash consideration limited to $100,000 over two years
- Equity consideration capped at 125,000 common shares
- Property surrounds existing Dryden Gold claims in Gold Rock camp
- No other outstanding royalties on the Lost Lake Property
- Right to buy back 1.5% of NSR for $1,000,000
Negative
- Issuance of 125,000 shares creates shareholder dilution
- Granting a 3% NSR royalty on future commercial production
- Transaction remains subject to TSX Venture Exchange approval
- Cash commitments of $100,000 over two years for the option
News Market Reaction – DRYGF
In the Jul 6 session, DRYGF gained 0.05%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 6, 2026) - Dryden Gold Corp. (TSXV: DRY) (OTCQX: DRYGF) (FSE: X7W) ("Dryden Gold" or the "Company") is pleased to announce it has entered into an option agreement (the "Agreement ") to acquire
The Option Agreement
Under the terms of the Agreement to earn a
- in connection with signing the Agreement, cash payment of
$10,000 plus the issuance and delivery of 25,000 Consideration Shares; - on or before the first Anniversary of the effective date of the Agreement, cash payment of
$40,000 plus the issuance and delivery of 50,000 Consideration Shares; and - on or before the second Anniversary of the effective date of the Agreement, cash payment of
$50,000 plus the issuance and delivery of an aggregate of 50,000 Consideration Shares (the "Option Exercise").
The Consideration Shares are being issued in accordance with an exemption from prospectus requirements under applicable security legislation and will be subject to a hold period of four months and one day.
Grant of NSR Royalty
Following the Option Exercise, Dryden Gold will grant to Orebot a net smelter returns royalty (the "NSR"), with the following terms:
- the NSR shall be an aggregate of three percent (
3% ) after commencement of Commercial Production. - Dryden Gold shall have the right, at its sole option at any time, to acquire from Orebot one-half of the NSR of
3% by making a cash payment of an aggregate sum of$1,000,000 .
There are no other outstanding royalties on the Property.
Figure 1- Lost Lake Property
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Qualified Person
The technical disclosure in this news release has been reviewed and approved by Maura J. Kolb, M.Sc., P.Geo., President of Dryden Gold and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators
ABOUT DRYDEN GOLD CORP.
Dryden Gold is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSX-V ("DRY") and traded on the OTCQX ("DRYGF") and FSE ("X7W"). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls
For more information go to our website www.drydengold.com.
CONTACT INFORMATION
| Trey Wasser, CEO Email: twasser@drydengold.com Phone: 940-368-8337 Ashley Robinson, Director of Corporate Communications Email: ir@drydengold.com | Phone: 604-764-7493 | Maura Kolb, M.Sc. P. Geo., President Email: mjkolb@drydengold.com Social: Linktree Website: www.drydengold.com |
Cautionary Note Regarding Forward-Looking Statements
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: receipt of corporate and regulatory approvals, issuance of common shares; future development plans; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings including receipt of TSX Venture Exchange approval for the offering; risks related to environmental regulation and liability; the potential for delays in exploration or development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in Dryden Gold's and the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward--looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold's and the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/303976