Newrange Gold Corp. announced a non-brokered private placement of up to 56,000,000 units at a price of CAD 0.18 per unit for gross proceeds of up to CAD 10,080,000 on November 7, 2022. Each unit shall consist of one common share in the capital of the company and one half share purchase warrant whereby each warrant shall be convertible into an additional share at an exercise price of CAD 0.27 for a period of 36 months from the date of issuance.

All securities to be issued will be subject to a four-month hold period from the date of issuance and subject to TSX Venture Exchange approval. A finder's fee of up to 7% in cash and 7% in warrants exercisable into shares at CAD 0.27 for a period of 36 months may also be paid. The placement is anticipated to close on or about November 25, 2022