Mr. Nav Dhaliwal reports

RENEGADE GOLD ANNOUNCES FINAL TRANCHE CLOSING OF NON-BROKERED PRIVATE PLACEMENT

Renegade Gold Inc. has closed the second and final tranche of its previously announced private placement through the issuance of 1,875,000 units at an issue price of 32 cents per unit for gross proceeds of $600,000. Each unit consists of one common share of the company and one transferable share purchase warrant, each warrant exercisable to acquire one additional share for a period of two years from the date of issue at a price of 45 cents per share.

Together with the first tranche of the placement (which was completed on Dec. 18, 2023), an aggregate of 4,658,750 units were issued for aggregate gross proceeds of $1,490,800.

All securities issued under the placement will be subject to a hold period expiring four months and one day from the date of issue.

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

A director of the company acquired 312,500 units under the second tranche for a total purchase price of $100,000. Accordingly, the private placement is to that extent a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to, or the consideration paid by such person, will exceed 25 per cent of the company's market capitalization.

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 Trillium'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.

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