Mr. Alex Walcott reports

EVERGOLD ANNOUNCES CLOSING OF $5.4 MILLION NON-BROKERED PRIVATE PLACEMENT

Evergold Corp. has closed its non-brokered private placement financing, first announced on March 10, 2026. The offering consists of the sale of: (i) 6,612,758 hard-dollar units of the company (HD units) at a price of 55 cents per HD unit for aggregate gross proceeds of $3,637,016.90; and (ii) 2,722,047 flow-through shares (FT shares) at a price of 65 cents per FT share for aggregate gross proceeds of $1,769,330.55 for a grand total of $5,406,347.45.

Each HD unit is composed of one common share in the capital of the company and one-half (0.5) of one common share purchase warrant. Each HD warrant entitles the holder thereof to acquire one additional common share of the company at an exercise price of 80 cents for a period of 24 months following the date of issuance. Each FT share is composed of one common share of the company that qualifies as a flow-through share as defined in Subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds from the issuance of the FT shares will be used for Canadian exploration expenses on the company's Canadian mineral properties, primarily the Golden Lion project and will qualify either as flow-through critical mineral mining expenditures or flow-through mining expenditures, each as defined in Subsection 127(9) of the Income Tax Act (Canada). The company intends to renounce the qualifying expenditures to subscribers of FT shares for the fiscal year ended Dec. 31, 2026, and to incur the qualifying expenditures on or before Dec. 31, 2027. The net proceeds from the issuance of the HD units will be primarily used for exploration activities at the company's properties, as well as for general working capital purposes.

In connection with the offering, eligible finders received aggregate finder fees of: (i) 378,234 finder warrants, entitling the holder to acquire one common share issued on a non-flow-through basis, at a price of 80 cents for a period of two years; and (ii) $217,460.

Completion of the offering is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued and issuable in connection with the offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

Related party transaction

In connection with the offering, Brian Butterworth, a director of the company, acquired 60,000 HD units, Alexander Walcott, the chief executive officer and a director of the company, acquired 61,540 FT shares, and Charles Greig (together with Mr. Butterworth and Mr. Walcott, the insiders), the executive chairman of the company, acquired 77,000 FT shares. The issuance of the HD units and FT shares to the insiders each constitutes a related party transaction as such term is defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a) of MI 61-101, on the basis that the participation in the offering by the insiders does not exceed 25 per cent of the fair market value of the company's market capitalization.

In connection with the closing of the offering, Mr. Greig (the acquiror acquired 77,000 common shares of the company). Prior to the acquisition, the acquiror beneficially owned or exercised control or direction over 690,454 common shares, 58,000 options to purchase common shares, 111,111 warrants to purchase common shares, a convertible debenture with principal amount $350,000, exercisable into 1,521,739 and 1.05 million debenture warrants, entitling the acquiror to acquire 1.05 million common shares, representing 5.14 per cent and 21.20 per cent of the company's issued and outstanding common shares on an undiluted and partially diluted basis respectively. The debenture and the debenture warrant are subject to a provision whereby the acquiror may not exercise such securities if it would result in the acquiror holding 20 per cent of the company's issued and outstanding common shares, without the company first obtaining shareholder approval and the approval of the TSX-V for the creation of a new control person of the company. After completion of the acquisition, the acquiror beneficially owns or exercises control or direction over 767,454 common shares, 58,000 options, 111,111 warrants, the debenture with principal amount of $350,000 and the 1.05 million debenture warrants, representing 3.37 per cent and 13.75 per cent of the company's issued and outstanding common shares on an undiluted and partially diluted basis respectively.

In satisfaction of the requirements of National Instrument 62-104 -- Take-Over Bids and Issuer Bids and National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, an early warning report respecting the acquisition of securities by the acquiror will be filed under the company's SEDAR+ profile, following the closing. To obtain a copy of the early warning report filed by the company, please contact Mr. Walcott at 604-891-6200 or refer to SEDAR+ under Evergold's issuer profile.

The acquisition was completed for investment purposes. Depending on market and other conditions, the acquiror may from time to time in the future increase or decrease the ownership, control or direction over securities of the company, through market transactions, private agreements or otherwise.

About Evergold Corp.

Evergold is focused on advancing the Golden Lion project, its 100-per-cent-owned, gold-silver (copper) project in Northern British Columbia's prolific Toodoggone mining district. At the southern end of the Golden Lion project, at the GL1 Main zone, previous drilling by the company, along with historical work, has outlined a near-surface, intermediate sulphidation epithermal-style gold- and silver-bearing system with excellent potential for expansion along trend and down dip. The property was last explored by the company in 2021, when the final three holes yielded some of the most significant gold-silver intercepts ever drilled on the property (see news Jan. 17, 2022). To the north of the GL1 Main zone, the property also has copper potential that is clearly evident in historical data, and which has been realized recently elsewhere in the district.

We seek Safe Harbor.