Far East Gold Limited announced that it has entered into Subscription Agreement with new investor Eurasian Resources Group S.à r.l. and strategic, institutional, wholesale and sophisticated investors to issue 27,600,000 shares at an issue price of AUD 0.25 per share for the gross proceeds of AUD 6,900,000 on August 16, 2023. The new investor Eurasian Resources Group S.à r.l. will issue 16,000,000 shares at an issue price of AUD 0.25 per share for the gross proceeds of AUD 4,000,000. Additionally, as part of the Company?s engagement of Canaccord Genuity (Australia) Limited to provide ongoing Capital Markets Advisory Services, the Company agreed to pay Canaccord Genuity (Australia) Limited an option fee upon the successful completion of the Placement and issue three tranches of options that expire three years from the date of issue, Tranche 1 ?

1,666,667 options with an exercise price of AUD 0.40 per option, Tranche 2 1,666,667 options with an exercise price of AUD 0.50 per option and Tranche 3 1,666,666 options with an exercise price of AUD 0.60 per option.