Tiger Brokers

Press Release: G50 Corp. Announces it Has Commitments for Us$18.23 Million to Accelerate Drilling at Its Golconda and White Caps Projects in Arizona and Nevada

Dow Jones
Jul 29

PHOENIX, July 29, 2026 /PRNewswire/ -- G50 Corp. Limited (ASX: G50; OTCQX: GFTYF) announced it has received commitments to raise approximately US$18.23 million (A$26.25 million) at an issue price of A$0.595 per ordinary share in a private placement from institutional and professional investors in several countries. The cornerstone investor in the placement is Hancock Prospecting, one of Australia's most respected natural resources investors, with a US$5.52 million (A$7.95 million) commitment. Settlement is expected to occur on August 4, 2026.

Funds raised will be used to accelerate exploration at both the Golconda Project (Arizona) and White Caps Project (Nevada), including further drilling, geological studies, gallium metallurgical work and early permitting activities at Golconda.

G50 recently announced the results of its 2025-2026 drill program at Golconda that confirmed shallow and strong gold-silver and gallium, which continued to expand the known mineralization at Golconda.

G50 Ltd. is an exploration company progressing critical minerals and precious metals projects in Arizona and Nevada. The Golconda Project is located in Northwest Arizona, a well-established mining jurisdiction with a long history of base and precious metals production. In Nevada, the company's White Caps Project is a historical gold mine that was previously drilled by Freeport McMoRan between 1982 to 1984. Exploration has identified gold and antimony mineralization at this project.

Not an offer of securities

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

View original content:https://www.prnewswire.com/news-releases/g50-corp-announces-it-has-commitments-for-us18-23-million-to-accelerate-drilling-at-its-golconda-and-white-caps-projects-in-arizona-and-nevada-302837803.html

SOURCE G50 Corp Limited

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