Evergold – CSAMT Survey Over DEM1 Prospect, B.C., Reveals Large Target Extending Across All Lines and to Depth Below Reconnaissance Drill Holes - Seite 2

• High-grade molybdenum (0.82%) with gold (1.2 g/t), silver (8 g/t), rhenium (3.7 g/t) from 299 to 300 metres
  

Drill Pad 2 located 450 metres from Pad 1: DEM23-03, deeper test, partially delineated system envelope:

• 48.2 metres of 0.58 g/t Au and 11 g/t Ag from 303 to 351.2 metres
  • Including: high-grade gold: 11.98 g/t Au and 24 g/t Ag from 339 to 340.5 metres
  • Including: high-grade cobalt, high-grade gold, high-grade tellurium: 0.11% Co, 29.5 g/t Au, 22 g/t Ag, 0.19% Cu, 42 ppm Te from 340 to 340.5 metres
    

About the DEM Project

The 12,728-hectare DEM property is ideally located in moderate terrain only 40 kms northwest of Fort St. James in central B.C.. The project area lies toward the south end of the Nation Lakes porphyry camp and within the Quesnel terrane, the latter of which hosts large deposits and long-life mines including the Mount Milligan mine (50 kms to the northeast of DEM) and Lorraine deposit and, farther south, the Mt. Polley, Afton, Copper Mountain, and Brenda mines, in addition to the Highland Valley mines and deposits. Located central to the DEM property is the DEM1 prospect, a roughly 4km² target area defined by alteration and mineralogy suggestive of the presence of a porphyry system, by a multi-element soil geochemical signature, by compelling high-relief magnetic, IP-chargeability and CSAMT resistivity anomalies, and by the presence of nearby regional scale structures. Extensive logging in the area and associated forest service roads provide drive-on access directly to the DEM1 prospect. All of these factors, combined with the results of a reconnaissance drilling program carried out in October and November, 2023, indicate excellent discovery potential for a precious and strategic metals-enriched epithermal vein system, or systems, associated with porphyry intrusions. Further details on the DEM prospect may be found on the Company’s website at www.evergoldcorp.ca/projects/dem-property/ and in a NI 43-101 technical report dated August 30, 2023, posted thereon and on the Company’s issuer profile at SEDAR+.

Qualified Person

Charles J. Greig, M.Sc., P.Geo., the Company’s Chief Exploration Officer and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.

Figure 1: DEM1 Target – Controlled-Source Audio-frequency Magneto-tellurics (CSAMT) Survey Lines on Total Magnetic Intensity (TMI)

Figure 2: DEM1 Target, Responses Compared: CSAMT vs. IP, Line 68000