SALE OF DEADMAN FLAT AND PERRY CREEK TO CAPRICORN METALS COMPLETE

About this update from Peregrine Gold Ltd.

Peregrine Gold Limited ('Peregrine' or the 'Company') (ASX: PGD) is pleased to announce the agreement executed by the Company (ASX: PGD 23 January 2025 ), via its wholly owned subsidiary Pilbara Gold Exploration Pty Ltd , to sell its Deadman Flat and Perry Creek Project to Greenmount Resources Pty Ltd , a wholly owned subsidiary of Capricorn Metals Limited (ASX: CMM) ( ('Transaction') has completed and A$1.5 million1 of fully paid ordinary shares in Capricorn has been received. The Deadman Flat and Perry Creek Project is located in the most southern part of the Newman Gold Project and west of Capricorn Metals Ltd (Capricorn) Karlawinda Gold Project , comprising tenements E52/3841 and E52/3932 (Tenements). Consideration The Company confirms the following consideration applies to the Transaction. Received A$1.5 million (ex GST) in fully paid ordinary shares of Capricorn valued using a deemed issue price equal to the 20 trading day volume weighted average price up to and including the trading day prior to Completion. Resource Payment Milestone A$0.75 million (ex GST) payable upon the delineation and announcement of a JORC compliant Mineral Resource Estimate by Capricorn, of at least 200,000 ounces of gold on one or more of the Tenements. Mining Payment Milestone A$0.75 million (ex GST) payable upon Capricorn announcing a board decision has been made to commence a stand-alone commercial mining operation on one or more of the Tenements, limited to one payment per tenement. Net Smelter Royalty (NSR) The Company to receive a 1% NSR in respect of the sale of all precious minerals and a 1.5% NSR in respect of the sale of all non-precious minerals extracted from the Tenements. Technical Director of Peregrine Mr. George Merhi commented: 'Having recently announced the receipt of over $1.7 million in proceeds from our Entitlement Issue and as of today, the receipt of $1.5 million in shares in Capricorn, an ASX leading gold producer, the Company has commenced the new year in a significantly improved financial position. We look forward to a ramp up in exploration activity and news flow on our 100% owned ground and excited to see the future developments on the very prospective Deadman Flat and Perry Creek Project now under Capricorn control'. Contact: George Merhi Technical Director Tel: +61 418 831 069 (C) 2025 Electronic News Publishing, source ENP Newswire

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