G50 Announces Raises A$10.0 million to Fund Extensive Drilling and Testwork at its Gold, Silver and Gallium Golconda Project in Northwest Arizona

G50 Announces Raises A$10.0 million to Fund Extensive Drilling and Testwork at its Gold, Silver and Gallium Golconda Project in Northwest Arizona

TUCSON, Ariz., Aug. 25, 2025 /PRNewswire/ -- G50 Corp Limited (ASX: G50; OTCQB: GFYTF) announced it received firm commitments for a placement among Australian institutions to raise gross proceeds of A$10.million. The placement price of A$.0.25 per share represents a 10.4% discount to the 5-day VWAP. Bell Potter Securities Limited and Morgans Corporate Limited, both based in Australia, acted as Joint Lead Managers and Bookrunners to the Placement.

The over-subscribed placement, which had strong support from existing shareholders and new institutional investors, will be used to fund extensive drilling and testwork at the company's Golconda Gold-Silver-Zinc Project in Arizona. Additional information is available here: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02982906-2A1615899&v=4a466cc3f899e00730cfbfcd5ab8940c41f474b6

"With this placement the company is now well funded to implement an extensive drilling program" said Mark Wallace, managing director/CEO of G50. "Earlier this year, drilling at Golconda led to a district-scale gold and silver discovery, while the Reverse Circulation (RC) program confirmed consistent gallium mineralization along one kilometer of the Golconda patented claims."

A track mounted core rig is booked for arrival in September with an RC rig booked to arrive soon after the core drilling is complete. Follow on metallurgical test work for gallium is expected to begin in the current quarter, which will support ongoing discussion for partner and funding opportunities. Base metal and precious metallurgical test work will begin using samples from the upcoming core drilling program and work toward a maiden Mineral Resource Estimate (MRE). Current funding will also support early work for permitting pathways, including baseline studies.

Gallium is a critical metal. "The Chinese control 100% of the supply of gallium and recently prohibited its entry into the U.S.," Wallace said. He added, "The urgency of supply of this metal is significant for the US as it is required for production of defense products and data center power demands."

G50 Corp. (https://www.g50corp.com) is an exploration company focused on the southwestern U.S. The company's flagship Golconda Project comprises both patented and unpatented claims and is ideally positioned near existing mining infrastructure and logistic hubs to meet the United States' growing demand for domestic mineral resources.

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SOURCE G50 Corp Limited