Gold Road Update: Oversubscribed Capital Raise and Partial Payment for Acquisition

Gold Road Inc. is pleased to announce that its financing round at a price of CAD 0.50 per share has now closed, raising approximately CAD 7.6 million. This is significantly above the initial target of CAD 3 million, and the company sincerely thanks all investors for their support. The capital raise implies a post-money valuation of only CAD 10 million for a fully permitted operation with an extensive land package in the Oatman District in Arizona.

With this financing, Gold Road is fully funded, and the mill restart remains on schedule for the week of September 8, 2025, as previously forecast. This is the first time Gold Road will resume operations since Aura Minerals closed the site in November 2021, when gold was trading at approximately US$1,700/ounce.

It is the perfect time to resume operations and leverage the currently high gold prices to build a strong balance sheet.

Gold Road Mine ROM Pad in Arizona — *Waste dumps are being stockpiled on the ROM pad in anticipation of production commencing at Gold Road, Arizona.*

As part of the acquisition, Gold Road paid the second of four installments to Riverment last week (US$1.333 million of the total US$5 million purchase price). The remaining two installments (US$1.333 million each) are expected to be funded directly from gold sales over the next six months.

Operationally, grades from the 2Mt Tom Reed stockpile are proving better than expected. For the first two weeks, the mill will process lower-grade ore (~0.5 g/t) during commissioning. While some normal start-up issues are anticipated, Gold Road has an experienced on-site team led by GM Jim Cooley, who knows this mill inside and out.

Gold Road is the only permitted integrated gold mill in Arizona, and the company intends to capitalize on the opportunity as the price of gold approaches our forecast of US$5,000/ounce by year-end.

As production ramps up, Gold Road’s focus now shifts to the “IPO” transaction with CastleCap Capital Inc. (CSTL.P; TSXV), a TSXV Capital Pool Company, through which Gold Road will go public via a Reverse Takeover (RTO). Please refer to CastleCap’s press release dated July 23, 2025.

Gold Road is currently finalizing the updated NI 43-101 report and completing its audited financial statements. Access to the public markets will provide investors with liquidity and the potential for significant re-rating. The company anticipates commencing trading by the end of November 2025.

Edward Balme
IR Manager | Gold Road Inc
Edward.Balme@GoldRoadUSA.com

Max Beck
Head of IR | Gold Road Inc
Max.Beck@GoldRoadUSA.com

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