On February 1, 2021 Evergold Corp. (“Evergold” or the “Company”) (TSX-V: EVER) announced that it had agreed with Canaccord Genuity Corp. acting as Underwriter (the “Underwriter”), to increase the previously announced bought deal financing by $2,000,000 for total gross proceeds of $8,000,000 (“Offering”), with a lead order from Palisades Goldcorp Ltd. The Underwriter has agreed to purchase on a bought deal basis, a total of 17,500,000 units (the “HD Units”) at a price of $0.20 per Unit (“HD Offering Price”) for gross proceeds of $3,500,000 and 20,454,546 flow-through units (“FT Units”) at a price of $0.22 per Unit (“FT Offering Price”) for gross proceeds of $4,500,000.

The proceeds raised from the sale of FT Shares will be used to incur “Canadian exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Tax Act) on the Company’s flagship properties in northern British Columbia, Canada. The proceeds raised from the sale of HD Units will be used for general working capital purposes and for exploration on the Company’s B.C. and Nevada properties.

Peterson McVicar acted for Evergold Corp. with a team that included Dennis Peterson, Peter Georgas and Jude Gee.