Boreal Gold closes second tranche of private placement at $595K

Boreal Gold Inc. (CSE: BGLD) has closed the second tranche of a non-brokered private placement, raising $594,999.80, according to a press release from the Flin Flon, Manitoba-based junior mineral exploration company.

The closing includes 116,666 flow-through shares priced at $0.30 per share, generating $34,999.80, and 2,800,000 units priced at $0.20 per unit, generating $560,000. The private placement was originally announced on August 13, 2026, and updated on August 26, 2026.

The offering remains subject to regulatory approvals, and the securities issued carry a four-month statutory hold period in Canada, ending January 10, 2027.

Boreal Gold intends to use the proceeds to fund drilling operations at its Fay Lake property in Manitoba, targeting the Redwin volcanic massive sulfide horizon and high-grade gold quartz veins. Additional funds will support exploration at the North Star property and evaluation of airborne conductors at the Melgurd Lake property in Saskatchewan. A portion of the proceeds will also be used for corporate purposes.

All of the company's properties are currently at the exploration stage.

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