en.Wedoany.com Reported - Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQX; X7W:FSE) has released additional drilling results from the Big Master gold system at its Gold Rock project, including new intercepts at the Sparrow target and infill drilling data from the Treasure and Barrelman zones. Two holes tested near-surface mineralization above the recent Sparrow discovery, while a third hole intersected mineralization at Barrelman's BM1 and Treasure's BM2, extending these zones to depth. The company has contracted a second drill rig, scheduled for deployment on July 1, with the 2026 drilling program expanded to 45,000 meters.

Hole DGR-051 intersected 14.77 meters grading 3.24 g/t gold, including 1.35 meters at 29.55 g/t gold, approximately 88.00 meters from surface at the Sparrow target. Hole DGR-052 intersected 13.50 meters grading 1.02 g/t gold, including 1.00 meter at 8.88 g/t gold, approximately 125.00 meters from surface at the Sparrow target. Hole DGR-057 intersected 10.00 meters grading 0.68 g/t gold in the Treasure zone and 4.35 meters grading 1.20 g/t gold, including 0.50 meters at 8.85 g/t gold, in the Barrelman zone.

Dryden Gold CEO Trey Wasser stated that the geological team continues to deliver near-surface high-grade results and broad low-grade intercepts within the 1-square-kilometer area at Gold Rock. With the recent financing completed, the company has increased its drilling program to 45,000 meters, with the primary goal of more comprehensively defining gold mineralization at Gold Rock. Technical disclosures in the news release were reviewed and approved by Dryden Gold President Maura Kolb, M.Sc., P.Geo., who qualifies as a Qualified Person under National Instrument 43-101.

Dryden Gold has corrected a news release dated May 15, 2026, regarding finder's fees related to a flow-through share private placement, with total finder's fees amounting to $412,012.47, rather than the previously disclosed $291,028.46.

Central banks continue to hold substantial gold reserves, with gold prices remaining near record highs. According to Red Cloud Securities' June 2 Rocks Daily report, central banks hold over 36,000 tonnes of gold, with total reserves approaching levels not seen since the Bretton Woods era, and gold has surpassed U.S. Treasuries to become the world's second-largest reserve asset. Citing European Central Bank research, the Daily Telegraph reported on June 2 that gold accounted for 27% of foreign exchange reserves in 2025, exceeding the 22% share of U.S. Treasuries. The ECB reported that 70% of surveyed central banks cited geopolitics as the greatest risk they faced that year. Annual central bank purchases fell to 850 tonnes in 2025 from over 1,000 tonnes per year in the previous three years, but rising gold prices boosted gold's share of global reserves.

Market commentators discussed the latest developments in the precious metals market. On June 2, Stewart Thomson described gold as entering a consolidation phase after performing strongly against fiat currencies in 2024 and 2025, noting that sideways trading can shift attention from short-term price fluctuations to gold's broader monetary role. He also suggested that gold and silver miners are poised to re-enter the upper end of their ranges. According to Kitco on June 3, gold and silver prices fell due to rising crude oil prices, higher U.S. Treasury yields, and new military conflict between the U.S. and Iran. Spot gold traded near $4,432.60 per ounce, down 1.24% on the day; spot silver traded near $72.76 per ounce, down 3.17%. Oil prices rose for a third consecutive session, with WTI crude settling at $96.02 per barrel and Brent crude at $97.81 per barrel, amid concerns over shipping disruptions in the Strait of Hormuz. Geopolitical tensions continue to support defensive demand for gold, but rising energy prices, a stronger U.S. dollar, and higher Treasury yields pressure non-yielding assets.

Analysts and newsletter authors commented on drilling results, financing activities, and exploration strategies. On February 25, John Newell of John Newell & Associates noted that with institutional support, experienced Red Lake leadership, and a still-constructive technical structure, Dryden offers speculative investors leveraged exposure to a potential emerging high-grade gold district during precious metals strength, continuing to view it as a speculative buy. He mentioned that since its initial breakout in May 2025, Dryden Gold has achieved technical targets of C$0.32, C$0.40, and C$0.46. On April 2, Chen Lin, publisher of the What is Chen Buying? What is Chen Selling? newsletter, commented on Sparrow target drilling results, stating that Dryden Gold released excellent drilling results, with 4.25 meters grading 32.87 g/t gold, including 0.50 meters at 252.00 g/t gold, on BM1 at 160 meters below surface at Sparrow.

On May 12, Jeff Valks of GoldAdvisor.com stated that Dryden Gold received another batch of high-grade results from Jubilee and added a second drill rig at Gold Rock. He outlined the drilling approach: one rig testing deep down-dip targets at approximately 100-meter step-outs, with the other focused on shallow targets along strike. On June 4, Valks discussed the latest drilling results, highlighting intercepts at the Sparrow target and the company's decision to add a second drill rig, citing specific data from DGR-051 and DGR-052. He also quoted President Maura Kolb's comments that Gold Rock has very few drill penetration points below 300 meters, and the system's down-dip extent remains largely untested. Valks maintained a Buy rating and noted that Dryden Gold recently completed an expanded financing with participation from Centerra Gold and Alamos Gold.

Dryden Gold is implementing a dual-rig strategy at Gold Rock: one rig focused on testing near-surface high-grade zones, and the other targeting deep extensions of known high-grade zones. Upon receiving required permits, the second rig will move to Mud Lake to test deposit-scale mineralization cycles and regional folds. The company is also developing target plans at Hyndman, located within a 12 km by 2.5 km gold anomaly corridor defined by till gold results, with drilling expected this fall. President Maura Kolb stated that the dual-rig strategy is based on high confidence in the new geological model, accelerating its evaluation, with deep target assessment a priority. Permits for Mud Lake have been submitted, and drill targets have been finalized; mapping and sampling crews are being deployed at Hyndman to evaluate the newly identified 12 km anomaly corridor and develop targets for fall drilling.

According to the company's June 2026 investor presentation, Dryden Gold has allocated C$17.5 million to its 2026 exploration budget, planning approximately 45,000 meters of drilling for the year, covering Gold Rock footprint expansion and down-dip drilling, addition of a second drill rig, Mud Lake drilling, and regional drilling activities at Hyndman and Sherridon. 2026 activities include accelerated Gold Rock drilling, planning and permitting new exploration targets, basal till sampling in new areas, mapping and prospecting of priority targets, and follow-up work on the Hyndman granodiorite-hosted target. Dryden Gold Corp. has a market capitalization of C$72.91 million, with 243 million shares outstanding and a 52-week range of C$0.19 to C$0.48. Management and insiders hold 4.88% of the company's shares, strategic investors hold 53.66%, and retail investors hold the remaining 41.46%.

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