Perth, Australia--(Newsfile Corp. - August 28, 2026) - PC Gold Ltd (ASX: PC2) (PC Gold or the Company) is pleased to announce that it has received firm commitments for a A$75.0 million single tranche institutional placement of approximately 71.4 million new fully paid ordinary shares in the Company at an offer price of A$1.05 per share.

The Placement follows the release of the updated interim Mineral Resource Estimate for the Spring Hill Gold Project on July 21, 2026, which increased the global Resource by 84% to 1.51Moz Au at 1.1 g/t Au, including 1.0Moz Au in the Indicated category, and will fund the continued acceleration of resource growth, development studies and early works at the Project.

In a strong endorsement of the Company and the Project, incoming Non-Executive Director Mr. Rick Clark and associates have committed to invest $2 million at the Placement price, subject to shareholder approval.

Executive Chair & CEO Ashley Pattison, commented:

"The strong demand received for the Placement from high-quality institutional investors in Australia and overseas is a clear endorsement of the scale and quality of Spring Hill. This funding ensures we are fully capitalized to deliver our 2026 and 2027 work programs, including an increased drill program of 125,000m, completion of the PFS and DFS studies and the refurbishment of underground infrastructure to facilitate a high impact underground drilling program and unlock the high-grade underground opportunity.

With the recent appointments of Messrs. Rick Clark and Matt Scully to the Board, we are focused on accelerating the development timetable for Spring Hill and delivering value for PC Gold shareholders."

The Placement comprises a single-tranche unconditional placement of approximately 71.4 million New Shares at the Offer Price, issued within the Company's existing placement capacity pursuant to ASX Listing Rules 7.1 and 7.1A. No shareholder approval is required.

The Wallabi Group acted as Joint Lead Manager and Sole Bookrunner to the Placement.
Hannam & Partners and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers to the Placement.

An Appendix 3B for the proposed issue of New Shares will follow this announcement.
All amounts are in Australian dollars unless otherwise specified.

This announcement has been authorized for release by the Board of Directors of PC Gold Ltd.
For further information visit our website at www.pcgold.com.au or contact:

About PC Gold
PC Gold Limited is a gold exploration and development company focused on unlocking the full potential of its flagship SpringHill Gold Project in the Northern Territory. With a Mineral Resource Estimate reported in accordance with the JORC Code of 43.6Mt @ 1.1g/t Au for 1.5Moz Au, a strong balance sheet, and a highly experienced team, PC Gold is executing a clear strategy to transition Spring Hill toward production.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/311910

Source: PC Gold Ltd.