Precore Gold launches up to C$6 million private placement

Precore Gold Announces Up to C$6 Million Private Placement

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VANCOUVER, British Columbia, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Precore Gold Corp. (CSE: PRCG) (the "Company" or "Precore Gold") is pleased to announce that it intends to conduct a non-brokered private placement (the "Offering") through the issuance of up to 30,000,000 units (the "Units") of the Company at a price of C$0.20 per Unit for the gross proceeds of up to C$6,000,000. Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of C$0.28 for a period of two years from the date of issuance. The Warrants contain an acceleration clause whereby the Company may accelerate the expiry of the Warrants to a date that is thirty (30) days following the date upon which the Common Shares trade at a 30-day volume-weighted average trading price exceeding C$0.70 per Common Share. The proceeds from the Offering will be used to fund exploration work and for general working capital purposes.

Argonaut Securities Pty Limited which is part of Argonaut Limited ("Argonaut") and its clients will be permitted to participate as cornerstone investors in the Offering, for a total of $4,000,000.

In connection with the Offering, the Company may pay Argonaut (i) a cash fee equal to 6% of the gross proceeds received from subscribers sourced by Argonaut, and (ii) warrants equal to 6% of the number of Common Shares issued in connection with the subscribers sourced by Argonaut (each such warrant, a "Finder Warrant"), with each Finder Warrant entitling the holder thereof to purchase one Common Share at an exercise price of C$0.28 per share for a period of 24 months following the closing of the Offering. The Company may also pay finder's fees or commissions to other parties in respect of subscriptions from purchasers identified by the Company, including subscriptions of up to C$2,000,000 sourced under a president's list.

Argonaut Corporate Finance Limited, an affiliate of Argonaut, is acting as financial advisor to the Company in connection with the Offering. Pursuant to an advisory engagement letter, Argonaut is entitled to receive from the Company: (i) a monthly advisory fee of C$5,000 for an initial term of twelve (12) months; and (ii) 1,500,000 options of the Company (the "Advisory Options"), with each Advisory Option entitling Argonaut to acquire one Common Share at an exercise price of C$0.28 per Common Share for a period of two (2) years from the date of grant.

All securities issued and issuable pursuant to the Offering will be subject to a statutory hold period in Canada of four months plus one day from the date of issuance in accordance with applicable Canadian securities legislation.