Golden Pursuit Resources Announces $1 Million Private Placement

Rhea-AI Summary

Golden Pursuit Resources (FPVTF) announced a non-brokered private placement to raise up to $1.0 million via 1,666,667 non-flow-through units at $0.30 and 1,428,571 flow-through units at $0.35.

Proceeds will fund exploration at Gordon Lake, Northwest Territories (geophysics, mapping, sampling) and for general corporate purposes. Securities include one share plus one warrant each; warrants exercisable for one year. Closing is subject to TSX Venture Exchange approval.

Positive

• Planned gross proceeds of $1.0M to fund exploration
• Targeted exploration uses: drone geophysics, IP, mapping, and sampling
• Flow-through units direct tax-advantaged exploration funding to Canadian projects

Negative

• 3,095,238 units potentially issued (1,666,667 non-FT + 1,428,571 FT), creating dilution
• Warrants entitle holders to buy shares at $0.35 (non-FT) and $0.40 (FT) within one year
• Securities subject to a four-month hold; closing requires TSX Venture Exchange approval

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - May 5, 2026) - Golden Pursuit Resources Ltd. (TSXV: GDP) (the "Company" or "GDP") announces that it will conduct a non-brokered private placement of 1,666,667 non-flow-through units at $0.30 per unit for proceeds of up to $500,000 and 1,428,571 flow-through units at $0.35 per unit for proceeds of up to $500,000.

Each non-flow-through unit will consist of one non-flow-through common share and one non-flow-through warrant. Each whole warrant will entitle the holder to purchase one common share at a price of $0.35 per share for a period of one year from the date of issuance.

Each flow-through unit will consist of one flow-through common share and one flow-through warrant. Each whole warrant will entitle the holder to purchase one flow-through common share at a price of $0.40 per share for a period of one year from issuance.

All securities issued in connection with the private placement will be subject to a four-month statutory hold period.

The Company may pay finder's fees in cash, shares or warrants and any combination thereof to investment dealers or others (where permitted by law) and in accordance with the rules of the TSX Venture Exchange.

The proceeds of the private placement will be used to fund exploration programs on the Company's mineral properties at Gordon Lake, Northwest Territories, and for general corporate purposes. Planned exploration activities include geophysical surveys, including drone-based systems and induced polarization (IP), as well as geological mapping and surface sampling to support target generation for future drilling programs.

The Company will conduct detailed mapping and sampling of areas with previously reported mineralization, including samples from the Myrt Lake property (e.g., D6-2 and D10) and the Kidney Pond area (e.g., sample 308004), as well as results from prior exploration programs. Samples collected during the Company's 2024-2025 field programs were completed under the supervision of the Qualified Person.

The Company intends to validate historical results through additional fieldwork, including systematic sampling and geophysical surveys.

Completion of the private placement remains subject to TSX Venture Exchange approval.

Qualified Person Statement

The scientific and technical information contained in this news release has been reviewed and approved by Cleber Peralta-Gomes, M.Sc., P.Geo., who is a Qualified Person as defined by NI 43-101, subject to completion of a formal technical review of the underlying data.

About Golden Pursuit Resources Ltd.

Golden Pursuit Resources Ltd. (TSXV: GDP) is a Canadian-based mineral exploration company focused on the acquisition, consolidation, and exploration of precious metals properties in the Northwest Territories and Nevada. The Company currently holds multiple claim groups and is advancing exploration programs to define and expand mineralized zones.

GOLDEN PURSUIT RESOURCES LTD.

Per: "Brian McClay"
Brian McClay, President

CONTACT INFORMATION:
Brian McClay
Email: info@goldpursuit.ca
Tel: (604) 730-6982

Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/295941

FAQ

How much is Golden Pursuit Resources (FPVTF) raising in the May 5, 2026 private placement?

The company is raising up to $1.0 million through two tranches of private placement units. According to the company, proceeds split as up to $500,000 from non-flow-through units and up to $500,000 from flow-through units, for exploration and general purposes.

What securities are being issued in the FPVTF private placement and what are the warrant terms?

Each unit includes one share plus one warrant; warrants are exercisable for one year. According to the company, non-flow-through warrants convert at $0.35 and flow-through warrants at $0.40, each for one common share within one year of issuance.

How will Golden Pursuit (FPVTF) use the proceeds from the private placement?

Proceeds will fund exploration programs at Gordon Lake and general corporate purposes. According to the company, planned work includes drone-based geophysics, induced polarization surveys, geological mapping, and surface sampling to support future drill targeting.

Are there investor restrictions or approvals required for the Golden Pursuit (FPVTF) financing?

All securities will be subject to a four-month statutory hold and the financing needs exchange approval. According to the company, completion remains subject to TSX Venture Exchange approval and the company may pay finder's fees where permitted by law.