Greenheart Gold Announces Filing of Annual Financial Statements and Provides a Corporate Update

LONGUEUIL, Québec, April 25, 2025 (GLOBE NEWSWIRE) -- Greenheart Gold Inc. (TSXV: GHRT; OTCQB: GHRTF) (the “Company” or “Greenheart Gold”) is pleased to announce that it has filed its annual financial statements and management discussion and analysis for the initial period from April 19, 2024 to December 31, 2024 (the “Annual Filings”). The Annual Filings are available on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.greenheartgold.com.

As at December 31, 2024, the Company’s cash position totaled $46.4 million which includes the proceeds from the bought deal private placement completed in October 2024 for aggregate gross proceeds of $36.0 million. A total amount of $2.4 million was spent on exploration and evaluation during the initial period ending December 31, 2024.

On April 23, 2025, the Company decided to terminate an option agreement entered into in August 2024, which option covered ten (10) mining permits that was part of the Tamakay Project. The results of the exploration work carried out on this part of the Tamakay Project, including soil sampling, geological mapping and prospecting, trenching and geophysics, did not meet the criteria established by the Company to warrant further exploration activities on these permits. The termination of the agreement is consistent with Greenheart Gold’s strategy of quickly and effectively exploring early-stage projects with the goal of being in a position within a period of approximately 12 months to either move forward with systematic drill testing or return the permits to the titleholder and assess new opportunities.

Exploration work, including trenching, will continue on the remaining three mining permits at Tamakay, which cover an area of approximately 12.42 square kilometers and are held under an option agreement entered into in February 2025 (see March 17, 2025 press release). A map showing the Tamakay area remaining under option is available on the Company’s website.

AGM

The Company also announces that it will hold its annual general meeting of shareholders (the “AGM”) on June 17, 2025. The record date for shareholders entitled to vote at the AGM is May 8, 2025.

About Greenheart Gold Inc.

Greenheart Gold is an exploration company that builds on a proven legacy of discoveries within the Guiana Shield, a highly prospective geological terrain that hosts numerous gold deposits yet remains relatively under-explored. The Company is led by former executives and members of the exploration group of Reunion Gold, a team that was most recently noted for the discovery and delineation of the multimillion-ounce Oko West deposit in Guyana. Greenheart Gold intends to build on its technical knowledge, strong contact base and previous success from exploring in the Guiana Shield to assemble, maintain and explore a portfolio of early-stage exploration projects in Guyana and Suriname that are prospective for orogenic gold deposits.