Legacy Gold completes $10 million private placement at Baner, Idaho

Calgary, Alberta--(Newsfile Corp. - April 16, 2026) - Legacy Gold Mines Ltd. (TSXV: LEGY) (the " Company " or " Legacy Gold ") is pleased to announce that on April 15, 2026, it completed its previously announced non-brokered private placement for aggregate gross proceeds of C$10.0 million (the " Private Placement "). In connection with the Private Placement, the Company issued 33,333,333 common shares (the " Common Shares ") at a price of C$0.30 per Common Share. The Company intends to use the proceeds from the Private Placement to advance drilling and project development activities at its Baner Gold Mine property (the " Property "), located in the Orogrande Mining District, Idaho, as well as for business development and general and administrative purposes.

The securities issued in connection with the Private Placement are subject to a statutory hold period of four months and one day in accordance with applicable securities laws. Following completion of the Private Placement, funds managed by Wexford Capital LP hold, in aggregate, approximately 15% of the issued and outstanding Common Shares. The Private Placement remains subject to final acceptance of the TSX Venture Exchange (the " TSXV ").

In connection with the Private Placement, the Company has agreed to pay finder's fees equal to 6% in cash to the following arm's length parties: (i) Haywood Securities Inc. (C$44,100); and (ii) Research Capital Corporation (C$900), in respect of subscriptions introduced by them. In addition, the Company has agreed to issue 825,490 Common Shares to John Tumazos of Florida, representing 3% of the Common Shares sold under the Private Placement to subscribers introduced by him. Second Option Payment at the Property The Company also confirms it has completed the second payment under its option (" Option ") to acquire a 100% undivided interest in and to the mineral claims comprising the Property.

Under the terms of the Option, the Company has made the following payments and issuances to Champion Electric Metals Inc.: C$350,000 in cash; 200,000 Common Shares; and warrants to purchase up to 200,000 Common Shares at C$0.405 per share, for two (2) years. The final payment under the Option is due in April 2027 and consists of C$500,000 in cash and 200,000 additional warrants to purchase Common Shares. The Company is also seeking TSXV approval to extend by 12 months the term of the 200,000 warrants previously issued to Champion Electric in October 2024.

Related Party Disclosure In connection with the Private Placement, (i) Brian Hinchcliffe, Executive Chairman and the CEO of the Company, acquired 452,000 Common Shares for aggregate consideration of C$135,600.00; and (ii) Mike Sutton, VP, Exploration and a director of the Company, acquired 333,333 Common Shares for aggregate consideration of C$100,000. Such participation constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") and TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions . The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to subsections 5.5(a), 5.5(b), 5.5(c), 5.7(a) and 5.7(b) of MI 61-101 as the fair market value of the participation did not exceed 25% of the Company's market capitalization, the distribution of securities was for cash, and the fair market value did not exceed C$2,500,000.