Gold Explorer Strikes Visible Gold in Ontario

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2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Dryden Gold
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Dryden Gold Corp. (DRY:TSXV; DRYGF:OTCQB) reported significant developments across its flagship Gold Rock Camp in Ontario, with recent exploration confirming visible gold across new targets and expanding the footprint of the Elora Gold System. The company observed visible gold in initial drill holes from both the Laurentian Mine Target and the nearby Intersection Target—located roughly one kilometer and 200 meters from the previously announced Jubilee Target, respectively. These findings support Dryden Gold’s structural interpretation of the Elora system and extend the known strike length to over one kilometer.

The Laurentian drill hole intersected a new hanging wall structure, while at the Intersection Target, visible gold appeared in a mineralized footwall zone. Both core samples have been submitted for assay, with results expected in the coming weeks. These results follow the previously announced high-grade intersection at Jubilee, where hole KW-25-003 returned 301.67 grams per tonne (g/t) over 3.90 meters, including 1,930 g/t over 0.60 meters.

Trey Wasser, CEO of Dryden Gold, attributed these discoveries to the team’s structural model. “Finding visible gold in these two first pass exploration targets... confirms that our Team’s structural interpretation has reached a real breakthrough,” said the CEO in the company’s news release. He highlighted the significance of the D3 deformation event, a fault structure believed to enrich multiple gold-bearing zones across the Gold Rock Camp.

Dryden Gold has now completed 6,818 meters of drilling at Elora, with assay results pending for 4,416 meters. The next drilling phase at Jubilee will focus on down-plunge testing and following up on the newly identified hanging wall zone. Assay turnaround times are currently estimated at 8 to 10 weeks due to the complexity of logging oriented core from deeper holes.

In parallel, the company confirmed on May 29th that it has received drill permits for its Hyndman property, located in the broader Dryden Gold District. Dryden Gold also announced the launch of its 2025 regional field season, with plans to advance Hyndman and Sherridon, two early-stage regional targets, through mapping, sampling, and geochemical surveys.

At Hyndman, field crews will conduct channel sampling and follow up on geophysical anomalies identified in 2023. At Sherridon, drilling is scheduled to begin in summer 2025 following successful mapping and modeling completed in 2024. Previous sampling at Sherridon returned historic grab samples of up to 617.00 g/t gold, and drill hole SH-12-25 intersected 15.40 g/t over 5.50 meters, including 83.70 g/t over 1.00 meter.

We note that in the May 29th press release the CEO explained the regional opportunities for Dryden Gold, “Our two main regional exploration targets Hyndman and Sherridon highlight two different types of potential gold deposits in different host rocks from that at Gold Rock. Having multiple deposit styles is common in large gold districts like Timmins and Val-d’Or.” 

To support these initiatives, Dryden Gold has expanded its geological team, appointing Ryan Humphries as exploration manager. The company has also contracted Fladgate Exploration Consulting for fieldwork and ALS Geoanalytics to lead a broad geochemical sampling program, as outlined in the news release.

Dryden Gold is scheduled to participate in several industry events in June 2025, including The Mining Investment Event of the North in Quebec City, 121 Mining Investment New York, and an investor roadshow organized by Trinity Financing Investments Corporation. Updates on the drill program and regional assays are expected to follow these events.

Gold Sector Sentiment Slowly Rebounds Amid Retail Demand and Global Trends

According to a May 26 report by John Rubino, gold remained relatively underrepresented in generalist investor portfolios despite reaching record highs earlier in the year. Rubino noted that “gold-related ETFs” had not experienced the same surge in implied allocations seen during previous bull markets. This contrasted with signs of growing physical demand, particularly in Asia. “Momentum is building,” he observed, referencing robust interest from Chinese buyers, and pointing to surging gold purchases at retailers like Costco as indicators of a potentially broadening trend.

The growing enthusiasm among retail buyers was highlighted again in a May 28 report from VBL, which detailed how Costco was forced to tighten gold purchase limits due to overwhelming demand. The retailer now restricts members to “one 1-ounce gold bar per transaction and two per 24-hour period,” a change from earlier rules that allowed greater flexibility. The report also noted that “spot gold has appreciated over 70%” in the past 19 months, as gold prices reached new highs in April.

Goldfinger Capital, in a May 27 market video, emphasized that this demand spike came even as gold ETFs faced “the third largest outflow ever,” creating a divergence between market sentiment and price behavior. The channel’s host, Robert Sin, described the recent price action as a “healthy correction in the context of a bull market” and called the technical setup “very constructive.” He noted that despite skepticism, “miners are beginning to outperform the metal,” with the GOEX ETF reaching a multi-year high.

Positive Analyst Coverage Builds Case for District-Scale Gold Discovery

In a May 21 analysis, technical expert Clive Maund rated Dryden Gold Corp. an “Immediate Strong Buy,” citing its progress on a district-scale gold project in Ontario and strong recent price and volume action. Maund described the company’s upward momentum as “still in the earliest stages of a major bull market” and noted that the stock was “drawing close to making a clear breakout from a large 16-month base pattern.” He stated that Dryden Gold “has already made significant discoveries,” including high-grade near-surface gold, and highlighted that the company’s land package is “really big” and located in a region known for its major gold systems. Maund also pointed to the company’s share structure as a strength, stating that only 35% of shares were in the public float due to institutional and insider holdings, including those of “legendary PM sector investors Eric Sprott and Rob McEwen.” He added that recent price action, supported by strong upside volume, suggested “a possibly dramatic acceleration of its advance” and assigned an initial price target of CA$0.40.

In his May 27 newsletter, What is Chen Buying? What is Chen Selling?, Chen Lin highlighted Dryden Gold’s confirmation of “more high grade hits 1 KM from the last drill hole,” noting that visible gold had been observed and assay results were pending. He reiterated the importance of closely monitoring drill programs, writing that “the stock almost doubled since they hit the first high grade hole of 301g/t over 3.9 meter,” which he originally called out in Letter #2879. Lin confirmed plans to visit the company in person the following month, signaling continued interest and confidence in the exploration potential.

Unlocking Value in Ontario’s Gold Rock District

Dryden Gold’s current exploration strategy centers on the systematic testing of high-grade structures across a 702 square kilometer land package in northwestern Ontario. According to the company’s June 2025 investor presentation, the Gold Rock Camp shares key geological similarities with Red Lake, including stacked mineralized zones hosted in sheared basalt and quartz stringer veins.

Dryden Gold’s approach to oriented drill core, structural modeling, and phased drilling enables the team to refine targets based on real-time data. The use of three-dimensional inversion studies and fully assayed core further enhances this targeting precision. The company reports industry-low all-in drilling costs of US$250 per meter, supporting year-round activity.

Two high-priority regional targets, Hyndman and Sherridon, are seen as complementary to Gold Rock. Hyndman features granodiorite-hosted mineralization, while Sherridon is characterized by ultramafic volcanic rocks. Dryden Gold has already received exploration permits for both projects and plans to initiate drilling at Hyndman in the fourth quarter of 2025.

The 2025 exploration budget of approximately CA$5.8 million includes allocations for drilling at Gold Rock, its extensions, and regional targets. The company has noted strong institutional support and strategic investments from firms including Centerra Gold and Alamos Gold.

With a fully diluted share count of 222.2 million and a reported cash balance of CA$4.15 million as of May 23, 2025, Dryden Gold is positioned to advance its multi-target exploration pipeline through 2025 and beyond, leveraging both technical insight and infrastructure advantages in one of Canada’s prolific gold regions.

Ownership and Share Structure

According to the company, management and insiders own 7.57%, with strategic entities owning 57.43% of Dryden.  

Centerra Gold Inc. (CG:TSX; CADGF:OTCPK) holds 9.99% with  Alamos Gold Inc. (AGI:TSX; AGI:NYSE) holding a 14.35% stake in it. Euro Pacific Asset Management LLC owns 4.55%. There are 160 million shares outstanding. 

Its market cap is CA$32 million, and it trades in a 52-week range of CA$0.40 and CA$0.095.