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iCrowdNewswire Oct 27, 2020 11:03 AM ET

Bullfrog Gold Closes Transaction with Barrick Gold and Augusta Group

Bullfrog Gold Closes Transaction with Barrick Gold and Augusta Group

iCrowd Newswire - Oct 27, 2020

Bullfrog Gold Corp. is pleased to announce it has closed the previously announced transaction with Barrick Gold Corporation (“Barrick”) and Augusta Group (“Augusta”). Bullfrog has now added 1,500 acres of ground adjoining its Bullfrog Gold Project (“Project”), strengthened its board of directors and management team, including the addition of Maryse Belanger as President and CEO, and completed a C$22 million private placement financing (together, the “Transaction”).

Maryse Belanger, Bullfrog CEO, commented, “We are extremely excited about the upside potential of the combined land packages.  We are expediting our exploration activities and plan to begin engineering and design as soon as practical with the goal to become Nevada’s next operating gold mine.”

In connection with the Transaction, Bullfrog issued 54.6 million units (the “Units”) to Barrick and 110 million Units to Augusta. Each Unit consists of one share of common stock of Bullfrog (a “Share”) and one warrant (a “Warrant”) exercisable for one additional Share at a price of C$0.30 for a period of 4 years expiring on October 26, 2024. The Shares and Warrants are subject to a 4-month and one day hold applicable under Canadian securities laws. In addition, the securities issued by the Company in the Transaction were not registered under the Securities Act of 1933, as amended (the “Securities Act”), and were issued in reliance upon exemptions from the registration requirements of the Securities Act. Therefore, such securities may not be offered or sold absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell any securities or a solicitation of an offer to purchase any securities.

For further details regarding the Transaction, please refer to the Company’s press releases of September 8 and October 12, 2020 posted on the Company’s website at and which are available under the Company’s profile on SEDAR at

About Bullfrog Gold Corp.

The Bullfrog Gold properties host a NI 43-101 compliant Mineral Resource including 16 Mt at 1.02 g/t Au for 525,000 ounces in the measured and indicated categories and 2.84 Mt at 1.20 g/t Au for 110,000 ounces in the inferred category. These resources were estimated in 2017 and are based on a $1,200/oz gold price. Surface sampling studies and more recent drill results outline exploration potential and an opportunity to expand the existing resource.

About the Augusta Group

The Augusta Group is a mining sector focused management group based in Canada and the United States led by Richard Warke. Augusta has an industry leading track record of value creation totaling over C$4.5 billion in exit transactions since 2011 and has strategic partnerships with the leading entrepreneurs in the mining sector. Additional information on the Augusta Group can be found at

For further information, please contact Maryse Belanger, CEO & President, at (604) 687-1717.

Contact Information:

For further information, please contact Maryse Belanger, CEO & President, at (604) 687-1717.

Tags:    Wire, Disclosure Newswire, United States, English