Leopard Lake Gold Corp Announces Closing of Flow-Through and Non-Flow Through Financing

(TheNewswire)

East-Broughton, Quebec – TheNewswire - January 1 3 th 202 5 - Leopard Lake Gold Corp (CSE: LP) (“ Leopard Lake Gold Corp ” or the“ Company ”) is pleased to announce that it has closed itsnon-brokered flow-through and a flow through private placement (the“ Offering ”) for gross proceeds of C$167,000. The Company issued (a)167 flow-through units at $1,000 per unit (the “ FT Units ”), thatwill qualify as "flow-through shares" (as defined insubsection 66(15) of the Income Tax Act (Canada)). Each FT Unitconsisting of one flow-through common share (each of $0.08, an“ FT Shares ”) ,and (b) 668,000 non-flow through common shares at $0.05per common share (the “ Non-FT Units ”), each whole non-flow throughwarrant exercisable at $0.10 per shares for 24 months (the“ Non-FT Warrants ”). Each Non-FT Unit consisting of one non-flow-throughcommon shares (the “ Non-FTShares ”) and a warrant, each whole warrant(the “ Non-FTWarrants ”). No broker fees were paid inconnection with the Offering. The completion of the Offering issubject to certain conditions including, but not limited to, thereceipt of all required regulatory approvals including final approvalof the Canadian Securities Exchange (the " CSE ").

The proceeds from the Offering from the FT Units, being$133,600, will be used for exploration and development of theCompany's mineral property interests in the St-Robert Bellarmin’sproperty, and the proceed from the Non-FT Units, being $33,400, willbe used for general working capital purposes. The gross proceeds fromthe issuance of all FT Units will be used to incur CanadianExploration Expenses (" CEE "), and will qualify as"flow-through mining expenditures" under the Income Tax Act (Canada), which will be renounced to the purchasers of FTUnits with an effective date no later than December 31, 2025 in anaggregate amount no less than the proceeds raised from the issue ofthe FT Units.

All securities issued under the Offering will besubject to a hold period expiring four months and one day from theclosing date of the Offering in accordance with applicable Canadiansecurities laws.

This news release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities in theUnited States. The securities have not been and will not be registeredunder the United States Securities Act of 1933, as amended (the" U.S. SecuritiesAct "), or any state securities laws and maynot be offered or sold within the United States or to or for theaccount or benefit of a U.S. person (as defined in Regulation S underthe U.S. Securities Act) unless registered under the U.S. SecuritiesAct and applicable state securities laws or an exemption from suchregistration is available.

On Behalf of Leopard Lake GoldCorp.

Leopard Lake Gold Corp. is engaged in the business ofmineral exploration and the acquisition of mineral property assets inCanada, including the St. Robert property, which is comprised of 224mining claims in the Riseborough and Marlow Townships in St. RobertBellarmin, Quebec.

For further information, pleasecontact:

Daniel Bélanger

Chief Executive Officer and President

Email: daniel.belanger.leopard@gmail.com

Phone: (418) 933-3443

Forward-Looking Statements:

This news release contains forward-looking statementsand forward-looking information (collectively, "forward lookingstatements") within the meaning of applicable Canadian and U.S.securities legislation.  Forward-looking statements includepredictions, projections and forecasts and are often, but not always,identified by the use of words such as "seek","anticipate", "believe", "plan","estimate", "forecast", "expect","potential", "project", "target","schedule", "budget" and "intend" andstatements that an event or result "may", "will","should", "could" or "might" occur or beachieved and other similar expressions and includes the negativesthereof.   All statements other than statements of historical factincluded in this release, including, without limitation, statementsregarding the exercise of the incentive stock options, are forwardlooking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to beaccurate and actual results and future events could differ materiallyfrom those anticipated in such statements.  Forward-lookingstatements are based on a number of material factors and assumptions. Important factors that could cause actual results to differmaterially from the Company's expectations include actual explorationresults, changes in project parameters as plans continue to berefined, results of future resource estimates, future metal prices,availability of capital and financing on acceptable terms, generaleconomic, market or business conditions, uninsured risks, regulatorychanges, defects in title, availability of personnel, materials andequipment on a timely basis, accidents or equipment breakdowns, delaysin receiving government approvals, unanticipated environmental impactson operations and costs to remedy same, and other exploration or otherrisks detailed herein and from time to time in the filings made by theCompany with securities regulators.  Although the Company hasattempted to identify important factors that could cause actualactions, events or results to differ from those described inforward-looking statements, there may be other factors that cause suchactions, events or results to differ materially from thoseanticipated, including, without limitation, risks relating toepidemics or pandemics such  There can be no assurance thatforward-looking statements will prove to be accurate and accordinglyreaders are cautioned not to place undue reliance on forward-lookingstatements.

No stock exchange, regulationsecurities provider, securities commission or other regulatoryauthority has approved or disapproved the information contained inthis news release.

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