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Evergold is focusing this year entirely on its Golden Lion project in the Toodoggone district of northern British Columbia. The target is a low-to-intermediate sulfidation epithermal gold-silver system in quartz-carbonate veins, with a secondary copper target in the northern part of the same property. The interview covered the upcoming 4,000-metre drill program, project history, budget, and the company’s path forward.

TL;DR

Evergold is mobilizing for a 4,000-metre, 12-hole drill program at Golden Lion expected to begin in the third week of June 2026, focused on the GL1 main zone. The company raised roughly C$5.5 million in April 2026 at $0.55 (hard dollars) and $0.65 (flow-through), and the CEO says they can fund the full program from that raise. Assay results are expected to come back through fall and into year-end 2026. The best historical intercept at the project is 66 metres of 1.36 g/t gold plus 11 g/t silver from 2021. Executive Chairman Charlie Greig, who is credited with the GT Gold discovery, holds roughly 17-18% of the company and has not sold shares. Copper King will not be drilled this year due to permitting. A follow-on raise is likely in the fall regardless of results.

What have they done for shareholders lately?

The most concrete recent action is the April 6, 2026 financing that brought in approximately C$5.5 million, split between hard dollars at $0.55 per share and flow-through at $0.65 per share with a half-warrant exercisable at $0.80 for two years. Prior to that, the company had spent several years trying other properties, including Holy Cross, the DEM property, and Rocklands in Nevada, none of which produced results worth pursuing further. Rocklands has since been optioned to Wolfden Resources, which has reached or is near the 51% earn-in threshold. The company also rolled back its share structure to tighten the share count before the most recent raise.

How much money do they have and what are they spending it on?

The April 2026 raise brought in approximately C$5.5 million. The CEO indicated the program budget should cover the full 4,000-metre drill program at an estimated cost of roughly C$900 to C$1,000 per metre for helicopter-supported drilling in the Toodoggone. A convertible loan from Charlie Greig remains on the books and is expected to convert to shares. G&A is described as very lean, with the CEO estimating a monthly burn of approximately C$3,000 to C$4,000 outside of exploration spending. There is no office overhead. A follow-on raise, likely flow-through, is being considered for fall 2026 if results are encouraging or if the program needs to be expanded.

Upcoming catalysts

Technical: First drill assay results from the GL1 main zone, expected on a rolling basis from fall 2026 through year-end, testing down-dip extensions of the 2021 high-grade intercepts. Property-wide mobile magnetotelluric (MT) geophysics survey results from the northern Copper King area, with in-house data processing expected within roughly one week of data acquisition. Additional soil sampling and geological mapping across underexplored parts of the property during the current field season.

Operational: Drill mobilization and camp setup, targeted for the third week of June 2026. Helicopter and drill rig are already contracted.

Corporate: Renewal of the Golden Lion drill permit, to be submitted in early fall 2026 for the 2027 season. Resolution of the Wolfden Resources earn-in on Rocklands. Potential fall 2026 financing, likely flow-through given the gold system is flow-through eligible.

Risks

The CEO flagged a rough or delayed season start as his top near-term concern, citing past experience with equipment failures and logistical delays in a remote, helicopter-supported setting with a three-and-a-half to four-month working season. The epithermal system itself carries meaningful geological risk: mineralization is patchy, structurally controlled, and can shift quickly along strike and down dip, making it easy to drill between high-grade zones. Strong clay alteration in parts of the system has caused core recovery problems in past programs. Assay lab turnaround times are unpredictable and the company acknowledges it is a small client with limited leverage over lab scheduling. First Nations agreements are described as ongoing and not yet fully finalized. A fall financing is likely needed. The CEO also noted that change-of-control provisions are not yet in place, and that executive chairman Charlie Greig holds a royalty on the project, which he acknowledged as a potential conflict of interest if a significant discovery is made.

Evergold CEO Interview

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