Evergold Options the Rockland Gold Property to Wolfden, and Wolfden Prepares to Drill

TORONTO, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Evergold Corp. (TSX-V: EVER, OTC: EVGUF, WKN: A2PTHZ) (“Evergold” or the “Company”) is pleased to announce that it has granted Wolfden Resources Corporation (“Wolfden”) an option to acquire in two stages up to a 75% interest in the Company’s drill-permitted, past producing Rockland gold-silver property, located south of Yerington in Nevada’s Walker Lane geological belt.   It is anticipated that the agreement will lead to the commencement of a minimum 5,000 feet of core drilling in the near future. Under the first stage, Wolfden may earn an initial 51% interest by completing $US1.175 million in exploration expenditures before January 1, 2026, including posting a drilling bond with the U.S. Forest Service by December 15 this year, and making cash payments totaling $US600,000 to the underlying property rights holder Enigma Resources LLC (“Enigma”) by March 1, 2028. Wolfden can elect to earn an additional 24% interest, bringing its total interest to 75%, by completing a pre-feasibility study within 5 to 8 years, following which the parties may elect to establish a joint venture on standard industry terms. Completion of the acquisition of the option by Wolfden is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange.

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