Dryden Gold closes option agreement for Lost Lake
Vancouver, British Columbia--(Newsfile Corp. - August 18, 2026) - Dryden Gold Corp. (TSXV: DRY) (OTCQX: DRYGF) (FSE: X7W) (" Dryden Gold " or the " Company ") announces that, further to its news releases dated July 6, 2026 and August 12, 2026, the TSX Venture Exchange (" TSXV ") has approved for filing the Company's option agreement with Orebot Inc. (" Orebot "), an arm's length party, dated June 29, 2026 (the " Agreement "), to acquire a 100% interest in the Lost Lake Property (the " Property "), comprised of 122 tenured mineral claims located in the Gold Rock Mining Camp in Northwestern Ontario.
Following receipt of approval, the Company has closed (the " Closing ") the initial tranche of consideration pursuant to which the Company has made a cash payment of $10,000 to Orebot and issued 25,000 common shares of the Company (the " Initial Consideration Shares ") at a deemed price of $0.21 per share The Initial Consideration Shares are subject to a hold period expiring four months and one day from the date of issuance.
Pursuant to the Agreement, the Company may earn its full 100% interest in the Property by making the following additional payments to Orebot:
(a) on or before the first anniversary of the effective date of the Agreement, a cash payment of $40,000 and the issuance of 50,000 common shares; and
(b) on or before the second anniversary of the effective date of the Agreement, a cash payment of $50,000 and the issuance of an aggregate of 50,000 common shares (the " Option Exercise ").
Following the Option Exercise, the Company will grant Orebot a net smelter returns royalty of 3% (the " NSR ") on the Property, payable after commencement of Commercial Production. The Company will have the right, at its sole option and at any time, to acquire one-half of the NSR from Orebot for a cash payment of $1,000,000. There are no other outstanding royalties on the Property.
ABOUT DRYDEN GOLD CORP.
Dryden Gold is an exploration company focused on the discovery of high-grade gold mineralization listed on the TSXV (" DRY ") and traded on the OTCQX (" DRYGF ") and FSE (" X7W "). The Company has a strong management team and Board of Directors comprised of experienced individuals with a track record of building shareholder value through property acquisition and consolidation, exploration success, and mergers and acquisitions. Dryden Gold controls 100% interest in mining claims in a dominant strategic land position in the Dryden District of Northwestern Ontario. The property hosts high-grade gold mineralization over 50km of potential strike length along the Manitou-Dinorwic deformation zone. The property has excellent infrastructure, enjoys collaborative relationships with First Nations communities and benefits from proximity to an experienced mining workforce. Dryden Gold is committed to building respectful, collaborative relationships with Indigenous Nations and communities throughout our area of operations. We recognize the importance of ongoing dialogue, mutual understanding, and meaningful engagement as we advance our exploration activities.
For more information go to our website www.drydengold.com .
CONTACT INFORMATION
Trey Wasser, CEO Email: twasser@drydengold.com Phone: 940-368-8337
Ashley Robinson, Director of Corporate Communications Email: ir@drydengold.com | Phone: 604-764-7493
Maura Kolb, M.Sc. P. Geo., President Email: mjkolb@drydengold.com
Social: Linktree Website: www.drydengold.com
Cautionary Note Regarding Forward-Looking Statements The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: receipt of corporate and regulatory approvals, issuance of common shares; future development plans; and the business and operations of Dryden Gold. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings including receipt of TSX Venture Exchange approval for the offering; risks related to environmental regulation and liability; the potential for delays in exploration or development activities; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in Dryden Gold's and the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward--looking statements. These forward-looking statements are made as of the date hereof and Dryden Gold and the Company do not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from Dryden Gold's and the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/310267
TMX Newsfile
August 18, 2026 - 6:57 AM PDT
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