Renforth Resources Inc. has completed a two-hole drill program at the Parbec gold deposit in Québec, consuming its budgeted meterage and drill time before reaching a planned third hole. The completed holes targeted deeper mineralization beneath surface channels. While target lithologies were visually observed, samples await laboratory assay results. The deferred third hole will be pushed to a future campaign.

To fund upcoming technical work, Renforth intends to complete a non-brokered private placement financing of up to $1,000,000. The offering will comprise flow-through shares priced at $0.03 each and common share units priced at $0.025 per unit. Each unit consists of one common share and one-half of a warrant, with whole warrants exercisable at $0.05 for 18 months.

Financing proceeds will be directed toward an internal Mineral Resource Estimate update for the wholly owned Parbec deposit, alongside continued surface stripping and channel sampling within the open pit footprint to constrain channels 51 and 58. Assay results for channels CHNL-PAR-26-59, CHNL-PAR-26-60, and CHNL-PAR-26-61 will be released once received.

The upcoming internal resource review will incorporate assay results from recent undercut drilling and surface channels—including channels 51 and 58, which previously returned unconstrained intervals such as 2.97 g/t gold over 10.2 metres and 8.02 g/t gold over 2.55 metres, respectively.

In addition to new assay data, the internal review will incorporate historical prospecting and channeling results dating back to 2015 to extend modelled mineralization to surface where warranted. It will also apply current gold price and updated operating cost assumptions, replacing the $2,100 per ounce USD gold price and historical cost metrics used in the April 2025 Mineral Resource Estimate. Gold traded at a current price of $4,390.70 per ounce, representing an 8.95% increase over a 30-day period.

Renforth noted that this internal review is being conducted to inform future exploration targeting and for sensitivity analysis purposes only, and does not constitute a new or updated mineral resource estimate under National Instrument 43-101. The Parbec project is situated immediately adjacent to Agnico Eagle Mines Limited's Canadian Malartic complex.

Read the full announcement: Renforth Resources Updates Parbec Gold Deposit Drill Program, Announces New Financing