Skull Ridge Gold closes $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

About Skull Ridge Gold Corp.

Skull Ridge Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of high-potential precious and base metal projects. The Company’s flagship asset is the Skull Island Project (formerly known as the Heritage Gold-Silver Project ), located on the Burin Peninsula of Newfoundland and Labrador. The district-scale project comprises over 145 km² of contiguous mineral claims within the prospective Avalonian Epithermal Belt and is hosted along the Point May Epithermal Zone , a multi-kilometre mineralized system prospective for epithermal gold-silver mineralization with numerous identified exploration targets and known occurrences of gold, silver and base metals. The Skull Island Project benefits from excellent infrastructure, year-round access and a strategic location within one of Atlantic Canada’s most prospective and underexplored epithermal and hydrothermal mineral belts.