Dryden Gold issued 440,000 common shares to Centerra Gold at C$0.32 per share, resulting in aggregate proceeds of C$140,800. This issuance was executed under the investor rights agreement established on December 17, 2024, and calculated using a five-day volume weighted average price.

Centerra Gold exercised its top-up right to maintain its 9.99% equity interest in Dryden Gold, offsetting dilution from recent option, warrant, and share issuances completed through March 31, 2026. This action ensures Centerra’s continued significant minority position in the company’s capital structure.

Funds from the share issuance will be allocated to general corporate purposes, supporting ongoing exploration and operational initiatives in the Dryden District of Northwestern Ontario. The capital injection follows Q1 2026 option and warrant exercises, bolstering Dryden Gold’s liquidity position.

The investor rights agreement grants Centerra the ability to top up its stake following certain equity issuances. This mechanism protects Centerra’s ownership level and underscores its strategic partnership in Dryden Gold’s exploration and development activities.