Skull Ridge Gold closes $122,500 non-brokered private placement

Skull Ridge Gold Corp. Closes Second and Final Tranche, Completing $122,500 Non-Brokered Private Placement

VANCOUVER, British Columbia, July 31, 2026 (GLOBE NEWSWIRE) -- Skull Ridge Gold Corp. (CSE: SKUL) (”Skull Ridge” or the “Company”) is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement, completing the financing for aggregate gross proceeds of approximately $122,500.

Pursuant to the second and final tranche, the Company issued 1,750,000 units (the “Units”) at a price of $0.026 per Unit, for gross proceeds of $45,500.

Each Unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.05 for a period of 60 months from the date of issuance.

Including both tranches, the Company completed the private placement through the issuance of an aggregate of 4,711,528 Units for aggregate gross proceeds of approximately $122,500.

In connection with the financing, the Company paid cash finder’s fees totaling $3,120 and issued 120,000 finder’s warrants. Each finder’s warrant entitles the holder to acquire one common share of the Company at an exercise price of $0.05 for a period of 60 months from the date of issuance.

The Company further announces that Karim Rayani, Chief Executive Officer and a director of the Company, subscribed for 1,000,000 Units under the private placement. Mr. Rayani’s participation constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation does not exceed 25% of the Company’s market capitalization.

The net proceeds of the financing will be used to advance the Company’s exploration activities, for working capital and for general corporate purposes.

All securities issued in connection with the financing will be subject to a statutory hold period in accordance with applicable securities laws.

On behalf of the Board of Directors

KARIM RAYANI
CEO & Director

Tel: +1 604.716.0551 Email: k@r7.capital