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Private Placement: Endurance Gold Corporation (TSXV:EDG)

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The company is looking to raise gross proceeds of up to $2 million from the placement of up to 6,452,000 units priced at $0.31 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.50 for 24 months.

Additional Information:

Company: Endurance Gold Corporation
Website: http://www.EnduranceGold.com
Stock Symbol: TSXV:EDG
Date Published: Feb 26, 2021
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Endurance Gold Corporation, a North American focused project generator, has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $2 million from the placement of up to 6,452,000 units priced at $0.31 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.50 for 24 months.

Proceeds will be used for exploration activities and for general corporate purposes.

The shares are trading at $0.38.

The company has two drill-ready gold exploration projects, the Reliance Gold Project in British Columbia, and Elephant Mountain Gold Project in Alaska, and a number of other highly prospective North American mineral properties which management considers have the potential to develop world-class deposits.

The company recently reported results from a biogeochemical survey completed during the 2020 field season at its Reliance Gold Property.

With year-round road access, the Reliance Gold Property is located 4 kilometres east of the village of Gold Bridge and 10 kilometres north of the historic Bralorne-Pioneer Gold Mining Camp which has produced more than 4 million ounces of gold.

The 240-hectare biogeochemical survey, designed to test for blind mineralization obscured by the thick volcanic pumice tephra-ash that blankets the property, expanded the anomaly associated with the Royal Shear to a strike length of 2,000 metres.

The more intense portions of the Royal Shear Anomaly extend over 1,300 metres and are associated with top priority gold targets including Eagle, Eagle South, Imperial, Senator-Diplomat, Crown-Merit, and a new previously unrecognized target on the Royal Shear interpreted to be the strike extension of the Eagle Zone.

The survey also identified the Treasure Shear Anomaly, the Carter Anomaly and 3 anomalies along Steep Creek at the western margin of the grid survey.

Recent drill results from Eagle returned 6.1 metres of 10.5 g/t gold from surface and 12.2 metres of 9.7 g/t gold also from surface and 13.7 metres of 6.2 g/t gold starting at just 7.6 metres below surface.

Robert T. Boyd, President and CEO, stated: "These exciting drill results demonstrate the potential for the Reliance Property to host a high-grade structurally hosted gold deposit within a productive gold camp. The widths of the higher-grade mineralized zones at the Eagle discovery, the historic multiple high-grade drill intercepts at the Imperial Zone, and the 1.2 km long robust surface geochemical anomaly associated with an intense alteration signature, highlight the excellent exploration potential of the Royal Shear zone. We look forward to expanding on these results with further drilling along the Royal Shear."

For more information, please visit the company’s website, www.EnduranceGold.com, contact Robert T. Boyd, President and CEO, at 604-682-2707 or by email at info@EnduranceGold.com.

I’m Cassandra Bolinski for Investmentpitch Media