Gold Port Corporation Accelerates Exploration with New Private Placement Initiative

Gold Port Corporation, trading under the symbols CSE: GPO and OTCQB: GPOTF, has announced an exciting step forward with its plans to enhance exploration activities at its Groete Gold Copper Project, located in Guyana, South America. The company has initiated a non-brokered private placement of up to 17.1 million units, priced at CAD$0.075 per unit, which could generate gross proceeds of up to CAD$1,282,500.

Each unit in this private placement will include one common share of Gold Port, along with a transferable common share purchase warrant. This warrant allows holders to acquire an additional common share at an exercise price of CAD$0.10 for a period of five years from the closing date. It's important to note that all issued securities will be subject to a one-year statutory hold period, and the financing will be contingent upon regulatory approvals, including that from the TSX Venture Exchange. Notably, no finder's fees will be paid in connection with this financing, which reflects the company's commitment to maintaining capital efficiency.

The primary aim of this private placement is to fund an initial drilling campaign of up to 10,000 meters at the Groete Gold Copper Project. This project is particularly noteworthy as it currently hosts a National Instrument 43-101 (NI 43-101) Inferred resource of 1.57 million ounces of copper and gold equivalent, indicating significant potential for resource expansion. The drilling campaign will focus on upgrading the existing inferred resource classification to the more advanced Measured and Indicated categories and will also target new zones believed to hold additional mineral deposits.

Gold Port's strategy is bolstered by its ownership of a Multi-Power Products Discovery I core rig, alongside all necessary support equipment. This capability will enable swift mobilization to the project site once the conditions for road access are met. Furthermore, to enhance on-site working conditions, the company has secured a fully modular camp system that will support the field program effectively.

The Groete Gold Copper Project is positioned strategically with excellent access granted via the Essequibo River system, facilitating transportation and operational logistics. Given the recent surge in gold prices exceeding US$4,000 per ounce—markedly higher than the historical resource estimation using US$1,275 per ounce—the project is poised to represent a valuable opportunity in the current metals market. This price enhancement underscores the potential profitability that may arise from successful exploration and resource development efforts.

Gold Port Corporation is resolute in its mission to unlock the full potential of its Groete Gold Copper Project, aiming to deliver long-term value to its shareholders through responsible exploration and resource growth. With a dedicated focus on enhancing the resource classification and possibly expanding the overall mineral inventory, the company anticipates a significant impact on its operational viability and financial performance.

In conclusion, as Gold Port Corporation embarks on this new phase of exploration, it remains committed to leveraging its resources and expertise to realize the full potential of its mining assets in Guyana. The upcoming drilling program is expected to yield valuable insights into the project's viability while creating opportunities for investing in a burgeoning mining sector. As market conditions continue to evolve, the proactive measures undertaken by Gold Port mark a significant stepping stone towards its long-term strategic goals.

For more information about Gold Port Corporation and its initiatives, please visit their official website at goldportcorporation.com.