Renegade Gold Announces $3 Million Flow-Through Private Placement

Vancouver, British Columbia–(Newsfile Corp. – May 28, 2024) – Renegade Gold Inc. (TSXV: RAGE) (OTCQX: TGLDF) (FSE: 070) (“Renegade“or the”Business“) announces that it proposes to undertake a non-brokered private placement of flow-through common shares (“FT actions“) at a price of $0.40 per FT share for gross proceeds of up to $1.5 million and flow-through units (“FT Units“) at a price of $0.525 per FT unit for additional gross proceeds of up to $1.5 million (the “Placement“). Each FT Unit consists of one flow-through common share and one-half of one non-transferable share purchase warrant, with each whole warrant exercisable to acquire one non-flow-through common share for a period of two years to from the date of issue at a price of $0.60 per share.

The Company intends to use the gross proceeds of the Offering to incur “Canadian exploration expenditures” which are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) related to the Company’s projects in Ontario.

The Company may pay finder’s fees consisting of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities laws. The Company expects to close the Offering (in one or more tranches) as soon as possible, subject to obtaining all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

This press release does not constitute an offer to sell or the solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “US Securities Act”) or any state securities laws and may not be offered or sold in the United States or to U.S. persons, unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

About Renegade Gold Inc.

Renegade Gold Inc. is a growth-oriented company engaged in the acquisition, exploration and development of mineral properties located in the Red Lake mining district of northern Ontario. As part of its regional consolidation strategy, the Company has assembled one of the largest packages of prospective land in and around the Red Lake mining district, close to major mines and deposits, as well as the along the Confederation Lake and Birch-Uchi greenstone belts. . The recent completion of the acquisition of Pacton Gold Inc. expands the Company’s Red Lake ownership to more than 89,600 hectares of prospective and diversified exploration properties with significant potential for gold and critical minerals, the main structures hosting known gold showings in Red Lake. mining district today. The Company also holds a portfolio of prospective projects in Western Australia.

For more information, please contact:

Renegade Gold Inc.

Nav Dhaliwal
President, CEO and Director

[email protected]
Tel: 604-678-5308

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable Canadian securities legislation and the Private US Securities Litigation. Reform Act of 1995. Forward-looking information includes, but is not limited to, the expected timetable for completion of the offering, the potential payment of finder’s fees and the anticipated use of proceeds therefrom. The words “anticipate,” “material,” “expect,” “may,” “will” and similar expressions are intended to be among the statements that identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. In preparing the forward-looking information contained in this press release, the Company has applied several material assumptions, including, without limitation, assumptions that general business and economic conditions will not change materially adversely; that all required approvals will be received and all required information will be available in a timely manner. Factors that could cause actual results to vary materially include, but are not limited to, inaccurate assumptions regarding the exploration and development of mineral deposits, currency fluctuations, unforeseen operational or technical difficulties, risks relating to unforeseen delays; general economic, market or business conditions, regulatory changes; the timeliness of regulatory approvals, risks related to obtaining necessary licenses and permits, changes in general economic conditions or financial market conditions and the inability to raise additional financing. Readers are cautioned not to place undue reliance on such forward-looking information. The Company undertakes no obligation to revise or update any such forward-looking information after the date of this release or to revise such information to reflect the occurrence of unanticipated future events, except as may be required by applicable securities laws. require.

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OR FOR DISTRIBUTION IN THE UNITED STATES

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