Damara Gold Corp. announced a non-brokered private placement of up to 7,142,857 flow-through units at a price of CAD 0.07 per share for the gross proceeds of up to CAD 500,000 and 5,000,000 non-flow-through units at a price of CAD 0.05 for gross proceeds of up to CAD 250,000 for the aggregate gross proceeds of CAD 750,000 on May 23, 2023. Each flow-through unit will consists of one common share and one common share purchase warrant with each warrant exercisable at a price of CAD 0.10 per share for a period of 2 years following closing.

Each non flow-through unit will consist of one common share and one warrant. The Company may pay finders' fees of 6% cash and 6% finders warrants. Each finder warrant will entitle the holder to acquire one additional common share in the capital of the company at a price of CAD 0.10 for 24 months from closing.