• Firm commitments received for a $13.0 million Placement
• Strong support from new and existing institutional and sophisticated investors
• Funds raised will be used to acquire and restart the White Dam Gold Project and to advance exploration at the Company's North Queensland Projects

Pacgold Limited (ASX: PGO) has received firm commitments for a $13.0 million two-tranche placement via the issue of 173.3 million new fully paid ordinary shares. The funds raised will be used to acquire and restart the White Dam Gold Project, refurbish and restart the existing plant and infrastructure at White Dam, and advance exploration at the company's North Queensland Gold-Antimony Projects. The Placement comprises 23,696,057 New Shares under Tranche 1 and 127,014,834 New Shares under Tranche 2, subject to shareholder approval. The Directors of the Company intend to subscribe for a combined $515,000 worth of shares in the Placement, also subject to shareholder approval. The Placement is supported by new and existing institutional and sophisticated investors, demonstrating strong confidence in Pacgold's strategic acquisition of the White Dam Gold Operation, which provides a pathway to near-term gold production and cash flow generation. The White Dam Gold Project, with its established infrastructure, existing JORC Resource and remaining gold in the heap leach, presents an exceptional opportunity to rapidly restart operations with minimal capital outlay. This acquisition, combined with Pacgold's advancing North Queensland gold-antimony projects, positions the company with a powerful blend of production, growth and discovery potential, setting the stage for an exciting new phase of value creation for shareholders.

The acquisition of the White Dam Gold Project and the funds raised through the Placement provide Pacgold with a clear pathway to near-term gold production and cash flow generation. This, combined with the company's advancing North Queensland gold-antimony projects, positions Pacgold with a powerful blend of production, growth and discovery potential, setting the stage for an exciting new phase of value creation for shareholders.