Precore Gold closes C$6 million non-brokered private placement

Vancouver, British Columbia, September 3, 2026 (GLOBE NEWSWIRE), Precore Gold Corp. (CSE: PRCG) has successfully closed its fully allocated and oversubscribed non-brokered private placement, raising C$6 million through the issuance of 30 million units. Each unit was sold at C$0.20, with the proceeds to be used for exploration work and general working capital.

Paul A. Dumas, Executive Chairman of Precore Gold, expressed satisfaction with the strong response, stating, "The overwhelming demand for this financing speaks to the growing recognition of the discovery potential of our asset portfolio, especially our flagship Arikepay Project in Peru. We made a deliberate decision not to upsize the Offering and avoid unnecessary dilution of our existing shareholders. This decision has gained even more significance with the recent increase in our share price."

Argonaut, the financial advisor, also voiced its enthusiasm, noting, "An in-house technical review by our geologist indicates the Arikepay Project has the potential to host a significant gold resource. We rarely see intercepts of 81 meters at approximately 3 grams per tonne gold. We are excited to see a systematic drill-out of historical gold intercepts which were never followed up due to the focus on copper."

Each unit consists of one common share and one-half of one common share purchase warrant. The warrants allow the holder to purchase an additional common share at C$0.28 until September 3, 2028. The warrants are governed by a warrant indenture between the company and Endeavor Trust Corporation, the warrant agent. Argonaut Securities Pty Limited, an affiliate of Argonaut, acted as the financial advisor and received various fees and warrants as compensation.

The Company's share price has gained value since the announcement, and it plans to commence preliminary and complementary exploration programs in the coming weeks. The funds raised will support these efforts, as well as general working capital.

Certain directors and officers of the company subscribed for a portion of the units, participating in the Offering. Argonaut Securities Pty Limited, which is part of Argonaut Limited, and its clients participated as cornerstone investors, contributing C$4 million.

The Offering was oversubscribed, with Argonaut receiving a 6% cash fee and 1.2 million common share purchase warrants, each entitling the holder to purchase one common share at C$0.28 for 24 months. The Company also paid finder's fees of C$63,000 for subscribers not sourced by Argonaut.

The securities issued in this Offering will be subject to a statutory hold period in Canada, lasting four months plus one day from the date of issuance, in accordance with applicable Canadian securities legislation.

With the successful completion of this private placement, Precore Gold is entering a new phase of exploration and development. The company is optimistic about the broader potential of its assets and the opportunity to undergo a meaningful rerating as systematic modern exploration gets underway.