Big Ridge Gold closes $7.0 million private placement; Gentile to 19.9%

Toronto, Ontario--(Newsfile Corp. - June 23, 2026) - Big Ridge Gold Corp. (TSXV: BRAU) (" Big Ridge " or " Company ") is pleased to announce that it has initiated a non-brokered private placement of 23,333,333 common share units of the Company (the "Units") at a price of $0.30 per Unit for gross proceeds of C$7,000,000 (the "Offering"). Each Unit will consist of one common share of the Company and one common share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one common share at a price of C$0.46 for a period of 36 months following the closing of the Offering.

The proceeds of the Offering will be used for ongoing engineering studies and resource expansion drilling at the Hope Brook Gold Project. The closing of the Offering is expected to occur in early July and is subject to receipt of all necessary regulatory approvals, including acceptance by TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period expiring four months and one day from the date of issuance in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.

Mr. Michael Gentile is an insider of the Company, and his participation in the Offering constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions from the formal valuation requirement of Section 5.4 of MI 61-101 (pursuant to Section 5.5(a)) and the minority shareholder approval requirement of Section 5.6 of MI 61-101 (pursuant to Section 5.7(1)(a)), in each case on the basis that neither the fair market value of the securities being issued to the related party, nor the consideration being paid by the related party, exceeds 25% of the Company's market capitalization Michael Bandrowski, President & CEO of the Company, commented: "Big Ridge is pleased to receive continued support from existing shareholders, including Mr. Michael Gentile who nearly doubled his position in Big Ridge Gold Corp. to 19.9%. The company is well financed to complete its ongoing exploration and geotechnical drill programs and continue advancing the project toward the Environmental Assessment phase." Michael Gentile commented: "I am very happy to further increase my investment in Big Ridge Gold, one of the most under the radar names I own in my portfolio.

Big Ridge is one of my highest conviction names and I am happy to increase my ownership to 19.9%. With 100% ownership of the past producing Hope Brook Mine, an upcoming Preliminary Economic Assessment and an experienced management team, the future looks very bright for BRAU shareholders." This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Big Ridge Gold Corp. Big Ridge Gold Corp. is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with strong social licence from local communities. Big Ridge owns a 100% interest in its flagship Hope Brook Gold Project, located in Newfoundland and Labrador.

Big Ridge also owns a 100% interest in the highly prospective Oxford Gold Project located in Manitoba and the Destiny Gold Project in Quebec. Acknowledgement Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural Resources' financial support of the Company's 2023 exploration programs through the Junior Exploration Assistance (JEA) Program. For more details regarding the Company's projects, please visit our website at www.bigridgegold.com .

ON BEHALF OF THE BOARD, Mike Bandrowski, President & CEO BIG RIDGE GOLD CORP. 18 King St. East, Suite 1400 Toronto, ON, M5C 1C4 Tel: 416-540-5480 Email: Mike@bigridgegold.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Statements This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release.

Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations, or beliefs regarding future events, and include, without limitation, statements with respect to the completion of the Offering, the expected closing date of the Offering, the anticipated use of proceeds of the Offering, the receipt of all necessary regulatory and TSX Venture Exchange approvals, the Company's exploration. Engineering, geotechnical and development plans for the Hope Brook Gold Project, the advancement of the Hope Brook Gold Project toward the Environmental Assessment phase, the anticipated Preliminary Economic Assessment, and the future prospects of the Company.

All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political, and social uncertainties, and contingencies.

Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. When relying on our forward-looking statements to make decisions with respect to Big Ridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.

Not for distribution to United States Newswire Services or for dissemination in the United States To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302528 Newsfile Corp. June 23, 2026 - 5:51 AM PDT News by QuoteMedia www.quotemedia.com