Mr. Nav Dhaliwal reports

RENEGADE GOLD CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Further to Renegade Gold Inc.'s news releases of Sept. 25 and Dec. 5, 2023, the company has closed the first tranche of its private placement in the amount of 2,783,750 units at 32 cents per unit for total gross proceeds of $890,800. Each unit consists of one common share and one transferable share purchase warrant, each warrant exercisable to acquire one additional common share for a period of two years from date of issue at a price of 45 cents per share.

The company paid $4,480 and issued 14,000 finders' warrants in respect of finders' fees under the placement. Each finder's warrant is exercisable to acquire one common share for a period of two years from date of issue at a price of 45 cents per share.

The common shares, warrants, finders' warrants and any shares issued upon exercise of the warrants and/or finders' warrants are subject to a hold period and may not be traded until April 19, 2024, except as permitted by applicable securities legislation and the rules and policies of the TSX Venture Exchange.

The company will use the net proceeds of this first tranche of the placement to extinguish debt, for exploration work on the company's exploration properties and for general working capital.

About Renegade Gold Inc.

Renegade Gold is a growth-focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake mining district of Northern Ontario. As part of its regional-scale consolidation strategy, the company has assembled one of the largest prospective land packages in and around the Red Lake mining district in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The recent completion of the acquisition of Pacton Gold Inc. extends the company's ownership in Red Lake to over 89,600 hectares of prospective and diversified exploration properties with significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today. A portfolio of prospective projects in Western Australia has also been acquired.

We seek Safe Harbor.