Mr. Kevin Keough reports

EVERGOLD ENHANCES THE COPPER POTENTIAL OF ITS GOLDEN LION PROPERTY IN BC'S TOODOGGONE REGION BY ACQUIRING 100% OF THE COPPER KING INLIER PROSPECTS, PLANS SHARE CONSOLIDATION

Evergold Corp. has entered into a binding letter of intent to be granted an option to acquire a 100-per-cent ownership interest in four inlier claim groups totalling 173 hectares, located within the northern half of its Golden Lion property. The option, which is subject to the approval of the TSX Venture Exchange, is conditional on the company first completing a consolidation of the common shares in the capital of Evergold on the basis one postconsolidation common share for every 10 preconsolidation common share and requires the staged payment over two years of $80,000 worth of postconsolidation Evergold shares at a price per postconsolidation Evergold share equal to the greater of: (i) 15 cents per postconsolidation Evergold share; and (ii) the last closing price per postconsolidation Evergold share on the TSX Venture Exchange prior to the date of issuance. In addition, upon the company exercising the option, it shall grant to the optionor a 2.5-per-cent net smelter returns royalty, 1.5 percentage points of which may be bought back for $1.5-million. The consideration shares shall be issued in stages as follows: (i) $20,000 of postconsolidation shares issued on the date that is one calendar week following the effective date of the consolidation; (ii) $20,000 of postconsolidation shares issued on July 2, 2026; and (iii) $40,000 of postconsolidation shares issued on July 2, 2027.

All Evergold shares shall be subject to a hold period of four months and one day from the date of issuance. Completion of the option and the consolidation is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX-V and, in the case of the consolidation, approval of two-thirds of shareholder votes cast at the company's forthcoming annual general and special meeting, to be held on Sept. 11, 2025.

The acquired tenures cover the non-contiguous Goat, Chuck, Copper King and Claw prospects, collectively known as the Copper King property. Historical drilling in 1975 at Claw of five shallow holes (assessment reports No. 05635 and No. 05657) each returned numerous references in drill logs to copper mineralization, including native copper, bornite, chalcopyrite, malachite, azurite and chrysocolla, for the most part hosted within porphyritic andesite. None of the holes were assayed at the time. Subsequent rock sampling carried out over the area of the claims in 1984 (assessment report No. 12871) returned widespread areas containing high values of copper and silver mineralization in vein-fracture systems and disseminations in altered country rock. Reports at the time recommended waiting for higher metal prices prior to carrying out additional work, and no exploration activity is known to have occurred in the years since.

"These new claims encompass the best porphyry prospects within the current limits of our Golden Lion property," said Kevin Keough, president and chief executive officer. "Their acquisition builds upon a surge of exploration activity this year in the Toodoggone camp, following Freeport-Amarc's recent discovery, in similar BCGS Red Line geology some 40 kilometres to the south, of the exciting Aurora copper-gold porphyry intrusion and supports a planned renewal of exploration at Golden Lion this season, to be focused on selected areas of the new claims as well as on the Yellow Dog and GL2 target areas on the southern half of the property."

DEM property option commitments deferred

All staged cash payment and work commitments for the DEM property, further to a property option agreement entered into on Aug. 1, 2023, have been deferred for one year by the property vendors, at no cost to the company. Early drilling in two small programs in 2023 and 2024 at the road-accessible DEM porphyry prospect, located near Fort St. James in central British Columbia, returned excellent results (see news releases dated Jan. 15, 2024, and Dec. 11, 2024), including high grades at the individual sample level of both precious and critical metals within a broad low-grade envelope, in what is believed to be the alteration halo around an intrusive centre. Drill pads have been left in place and the company anticipates returning to the site in future, subject to available financing.

Qualified person

Charles J. Greig, MSc, PGeo, the company's chief exploration officer and a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.

About Evergold Corp.

Evergold is a TSX-V-listed mineral exploration company with projects in British Columbia and Nevada. The Evergold team has a record of success in the junior exploration space, most recently the establishment of GT Gold Corp. in 2016 and the discovery of the Saddle epithermal vein and porphyry copper-gold deposits near Iskut, B.C., sold to Newmont in 2021 for a fully diluted value of $456-million, representing a 1,136-per-cent (12.4-times) return on exploration outlays of $36.9-million.

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