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Loyalty, Honor, Prestige & Excellence

St. James Gold Corp. has closed the previously announced non-brokered private placement and has issued 590,264 units at a price of $1.44 per unit for gross proceeds of $849,980. Each unit will comprise one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at $2.50 for a period of two years from the date of issue.

In conjunction with the company’s recently completed non-brokered private placement in January, 2021, financings and the exercise of warrants in the past two months have added in excess of $1.2-million to the company’s treasury.

George Drazenovic, chief executive officer of St. James, stated: “I would like to thank all new and existing shareholders for their continued support as we move the company forward. Closure of this round of financing has placed St. James in a very favourable financial position to further explore and develop our current gold assets in Newfoundland. Concurrently, we intend to leverage our strong balance sheet to further identify high-impact, undervalued gold exploration assets in North America.”

All securities issued in connection with the offering will be subject to a statutory four-month-and-one-day hold period from the closing date, in accordance with applicable securities legislation.

The proceeds of the offering will used: to conduct exploration work on the company’s Newfoundland properties; for general corporate and working capital purposes; and to conduct due diligence on additional potential gold asset acquisitions.

Dr. Stewart Jackson, PGeo, senior technical adviser geologist, a qualified person within the meaning of National Instrument 43-101 — Standards of Disclosure for Minerals Projects, has reviewed and approved the technical and scientific information presented herein.

For Full Release: https://www.stockwatch.com/News/Item/Z-C!LORD-3045651/C/LORD

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