Abidian Gold Announces Private Placement Without Brokerage, Canadian Business Journal

Not intended for distribution to any US newswire service, or for release, publication, distribution or dissemination, in whole or in part, directly or indirectly, in or within the United States.

TORONTO, October 17, 2022 (GLOBE NEWSWIRE) — Avidian Gold Corp. (“Avidian” or “Company”) (TSX-V: AVG & OTCQB: AVGDF) are pleased to announce our intention to complete an unbrokered private placement of our units (“unit”) at $0.035 per unit and up to $500,000 gross revenue (“Recruitment”). Avidian is a member of the TSX Venture Exchange (“exchange”).

Each unit consists of one share of our common stock (“common stock”) and one Common Stock Purchase Warrant (“warrant”). Each stock acquisition right gives its holder the right to acquire one share of common stock at an exercise price of $0.06 per share of common stock (“Warrant share”) 24 months from the end of the offering. Closing is scheduled for around November 18, 2022.

Net proceeds from the offering will be used primarily for exploration and development of Avidian’s advanced-stage gold and gilt-copper mineral properties in Alaska and Nevada, and general and administrative expenses.

In connection with the Offering, the Company may pay finder’s fees in cash or securities, or a combination of both, as permitted by the exchange’s policies. If a finder’s fee is paid in connection with an offering, the cash finder’s fee will be equal to 8% of the earnings paid by the applicable finder, and the finder’s fee paid in securities will be equal to the applicable finder’s fee. The number of units placed by Offerings are subject to all required regulatory approvals, including exchange approvals. All securities issued or issuable pursuant to the Offering are subject to a hold period of four months and one day from the date of issue in accordance with applicable Canadian securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. This security has not been registered and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws. unless registered under the Act of 1933 and applicable state securities laws, or where an exemption from such registration is available.

About Avidian Gold Corporation

Abidian brings together a team of trained and experienced project managers focused on advanced stage gold exploration projects in Alaska. Our district-sized Golden Zone property has an NI 43-101 Indicated Gold Resource of 267,400 oz (4,187,000 t at 1.99 g/t Au) and an Inferred Gold Resource of 35,900 oz (1,353,000 t at 0.83 g/t Au). host. Breccia pipe deposits. This resource was exposed to the surface and was pit constrained for open-pit mining scenarios. Technical Report filed November 17, 2017 and prepared by Leon McGarry, B.Sc., P.Geo. and Ian D. Trinder, M. Sc. , P. Geo. Additional projects include the Amanita and Amanita NE gold mines adjacent to Kinross Gold’s Fort Knox gold mine in Alaska, and the Jungo gold copper mine in Nevada.

Avidian is a majority shareholder of High Tide Resources (CSE: HTRC). High Tide Resources (CSE: HTRC) is committed to developing advanced minerals projects in Canada by combining industry best practices with strong social licenses from local communities. High Tide has a 100% interest in the Labrador West Iron project adjacent to IOC/Rio Tinto’s 23 mtpy Carroll Lake mine in Labrador City, Labrador, and the Lac Pegma copper-nickel-cobalt deposit at 50 km. owns a 100% interest in Southeast of Fermont, Quebec.

For more information on the company and individual projects, including the NI 43-101 Technical Report on Golden Zone Properties, please visit the company website at www.avidianold.com.

For more information, please contact:

Steve Roebuck
President and CEO
Mobile: (905) 741-5458
Email: [email protected]

Also

Dino Titaro
directed by
Mobile (647) 283 7600
[email protected]

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this news release.

Forward-Looking Information

This news release contains certain “forward-looking statements” that do not constitute historical facts, including statements regarding the use of proceeds. Forward-looking statements include estimates and statements that describe our future plans, objectives, or goals, including language to the effect that we or management expects the stated conditions or results to occur. . Forward-looking statements “believe,” “expect,” “anticipate,” “estimate,” “could,” “could,” “would,” “will.” , or by terms such as “plan”. Forward-looking statements are based on assumptions and address future events or circumstances and, therefore, are inherently subject to risks and uncertainties. These statements are based on information currently available to us, but there is no guarantee that actual results will meet management’s expectations. Due to the risks, uncertainties and other factors associated with forward-looking information, actual events, results, performance, prospects and opportunities may not be expressed or implied by such forward-looking information. can vary greatly. Forward-looking information in this news release includes the size of the offering, the completion and terms of the offering, the company’s objectives, targets or future plans, statements, exploration results, potential mineralization and mineral estimates. but not limited to forecasts of resources, exploration and mine development plans, timing of commencement of operations, and market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: Including, but not limited to, the impact of COVID-19 on capital markets, disruption to commodity pricing supply chains, labor and workplace attendance, restrictions on domestic and international travel, and failure to obtain required approvals for offerings. , impact on our business, failure to identify mineral resources, failure to convert probable mineral resources into reserves, failure to complete feasibility studies to recommend production decisions, provisional nature of metallurgical test results; delayed or failed acquisition of necessary governmental, environmental or other project approvals, political risks, inability to meet obligations to meet First Nations and other Indigenous peoples, availability and future funding needs; Uncertainties regarding costs, stock market changes, inflation, exchange rate changes, commodity price volatility, project development delays, capital and operating costs, are part of the estimates and other risks associated with the mineral exploration and development industry; and the risks described in the company’s public documents filed with SEDAR. Although we believe that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, such information applies only as of the date of this news release. undue reliance should not be placed on and no warranty is given. Such events are assumed to occur within the disclosed time or not at all. We disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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