The TSX Venture Exchange has accepted for filing documentation the investment agreement dated April 13, 2025, between the company and a non-arm's-length party. Pursuant to the terms of the agreement, the investor has invested $40-million (U.S.) into the company's wholly owned entity, Patagonia Gold Canada Inc. (PG Canada), in exchange for an aggregate of 40 million preferred shares of PG Canada at a price of $1 (U.S.) per PG share. The PG shares are non-voting and are subject to restrictions on transfer in accordance with PG Canada's articles and the terms of a shareholder agreement among the company, PG Canada and the investor.

For further information, please reference the company's news releases dated March 14, 2025, April 14, 2025, and June 2, 2025.