MINING.COM

Leopard Lake Gold Corp. Announces Closing of Flow-Through Financing

Thursday, January 16, 2025 10:55 AM PST

(via TheNewswire)

East-Broughton – TheNewswire - January 16th 2025 - Leopard Lake Gold Corp (CSE: LP) (“Leopard Lake Gold Corp.” or the “Company”) is pleased to announce that it has closed its non-brokered flow-through private placement (the “Offering”) for gross proceeds of C$150,150. The Company issued 2,310,000 flow-through units (each, a “FT Unit”) at a price of $0.065 per FT Unit. Each FT Unit consisting of one flow-through common share (each, a “FT Share”) and one half of one common share purchase warrant (each, a “FT Warrant”). Each FT Warrant shall entitle the holder thereof to purchase one FT Share at a price of C$0.10 per FT Warrant for a period of three (3) years from the closing date of the Offering. The FT Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”). No broker fees were paid in connection with the Offering. The completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all required regulatory approvals including final approval of the Canadian Securities Exchange.

The proceeds from the Offering, being $150,150, will be used for exploration and development of the Company's mineral property interests in the St-Robert Bellarmin’s property. The gross proceeds from the issuance of all FT Shares will be used exclusively for qualifying Canadian Exploration Expenses (within the meaning of subsection 66.1(6) of the Income Tax Act (Canada)) and Canadian Development Expenses (within the meaning of subsection 66.2(5) of the Tax Act, which will be renounced to the purchasers of FT Units with an effective date no later than December 31, 2025 in an aggregate amount no less than the proceeds raised from the issue of the FT Units.

All securities issued under the Offering will be subject to a hold period expiring four months and one day from the closing date of the Offering in accordance with applicable Canadian securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On Behalf of the Board of Leopard Lake Gold Corp.

Leopard Lake Gold Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada, including the St. Robert property, which is comprised of 273 mining claims in the Riseborough and Marlow Townships in St. Robert Bellarmin, Quebec.

For further information, please contact:

Daniel Bélanger, Chief Executive Officer and President

Email: [email protected]

Phone: (418) 933-3443

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the exercise of the incentive stock options, are forward looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from the Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated, including, without limitation, risks relating to epidemics or pandemics such There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

No stock exchange, regulation securities provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.