VANCOUVER, BRITISH COLUMBIA – July 22, 2024– ESGold Corp. (“ESGold” or the “Company”) (CSE: ESAU, Frankfurt: N2W, OTC: SEKZF) is pleased to announce that Esgold’s operating focus is to get the Montauban plant into production in the near future. The company is in a position to begin the final phase of construction on the mill. Further, the preliminary economic assessment (PEA) prepared last year is being updated with current market conditions and the preliminary results have demonstrated significant escalation of the net present value and internal rate of return of the entire Montauban project.

“Esgold must take advantage of current market conditions and the rapid construction path to put the Montauban plant into production,” stated Brad Kitchen, president of Esgold. “The company has done a good job in the last couple of years to expand the future potential of an increased near-surface and underground resource but must now pivot to focus on capturing revenue.”
At the Montauban plant, the company currently has:

  • Infrastructure in place includes steel structure building (16,000-foot) Quebec Hydro power line and all access roads to mill building and tailings piles;
  • 60 percent of the required milling equipment required to operate which is on site;
  • Finalized engineering and construction plans;
  • Construction and operating permits in place or are in process of being finalized;
  • Confirmation that construction of the processing circuit will take nine to 12 months.

The company estimates that it will cost approximately $8.0-million to complete construction on the Montauban plant. Management hopes to secure this financing through non-dilutive means, including a $2.0-million credit facility already in place.

In addition to the loan facility, the company is pleased to announce a non-brokered private placement of up to five million free-trading common shares at a price of 10 cents per share, for aggregate gross proceeds of up to $500,000.

The company intends to use the proceeds from the offering for exploration activities and general working capital. The offering is expected to close on or before Aug. 15, 2024. The offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Commission (the CSE).

The company may pay eligible finders a fee on the offering within the amount permitted by the policies of the CSE. The company may pay certain finders a commission of 8 per cent cash and/or 8 per cent non-transferable share purchase warrants at an exercise price 15 cents per finder’s warrant share for a period of 12 months from the date of issuance.

The offering is being completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 — Prospectus Exemptions and therefore the securities issued in the offering will not be subject to a hold period in accordance with applicable Canadian securities laws. There will be an offering document related to the offering that will be available under the company’s profile at SEDAR+ and on the company’s website. Prospective investors should read this offering document before making an investment decision.

About ESGold Corp.

Esgold is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. ESGold’s principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometers west of Quebec City.

For more information on ESGold Corp. please contact the Company (+1 514-712-1532) or visit the website www.esgold.ca for the French version of this press release, for past news releases, 3D model of the Montauban processing plant, media interviews and opinion-editorial pieces. To keep up with what’s going on with ESGold please join our shareholders chat room on telegram :https://t.me/+SQeyLoDRjIAwMDVh

On behalf of the Board of Directors,

ESGold CORP.

“Jean Yves Therien”
Chief Executive Officer

“John Stella”
Investor contact
Tel: +1 514-712-1532
Email: info@esgold.com

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward looking information.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.