Leopard Lake Gold Corp. Announces Closing of Flow-Through Financing

(TheNewswire)

East-Broughton – TheNewswire- January 16 th 2025 - Leopard Lake GoldCorp (CSE: LP) (“ Leopard Lake Gold Corp. ” or the “ Company ”) is pleased to announce that it hasclosed its non-brokered flow-through private placement (the“ Offering ”) for gross proceeds of C$150,150. The Company issued2,310,000 flow-through units (each, a “ FT Unit ”) at aprice of  $0.065 per FT Unit. Each FT Unit consisting of oneflow-through common share (each, a “ FT Share ”) and onehalf of one common share purchase warrant (each, a “ FT Warrant ”). EachFT Warrant shall entitle the holder thereof to purchase one FT Shareat a price of C$0.10 per FT Warrant  for a period of three (3) yearsfrom the closing date of the Offering. The FT Shares will qualify as“flow-through shares” (within the meaning of subsection 66(15) ofthe Income Tax Act (Canada) (the “ Tax Act ”). Nobroker fees were paid in connection with the Offering. The completionof the Offering is subject to certain conditions including, but notlimited to, the receipt of all required regulatory approvals includingfinal approval of the Canadian Securities Exchange.

The proceeds from the Offering, being $150,150, will beused for exploration and development of the Company's mineral propertyinterests in the St-Robert Bellarmin’s property. The gross proceedsfrom the issuance of all FT Shares will be used exclusively forqualifying Canadian Exploration Expenses (within the meaning ofsubsection 66.1(6) of the Income Tax Act (Canada)) and CanadianDevelopment Expenses (within the meaning of subsection 66.2(5) of theTax Act, which will be renounced to the purchasers of FT Units with aneffective date no later than December 31, 2025 in an aggregate amountno less than the proceeds raised from the issue of the FTUnits.

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 the Board of LeopardLake Gold Corp.

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  273mining 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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