Peregrine Gold secures $2.3M for exploration

• Peregrine Gold secured $2.3 million through a capital placement.
• The capital raise offers new shares at $0.135 per share.
• The company will use the proceeds to fund exploration projects in Western Australia.

Peregrine Gold (ASX:PGD) secured $2.3 million before costs via a share placement to institutional and sophisticated investors.

The transaction priced new shares at $0.135 per share.

The company stated that the capital raise was cornerstoned by major shareholder Yandal Investments, Lion Selection Group (ASX:LSX), and company directors.

Net proceeds will fund maiden drilling at the Coopers and Carneys CID prospects and the Mallina Gold Project.

Peregrine Gold expects further exploration updates through the remainder of 2026 across its Western Australian projects.

Following the announcement, the Peregrine Gold share price was unchanged at $0.15.

The business continues to focus on advancing its gold and iron ore exploration portfolio in the Pilbara region.

In addition, the company plans an expanded bulk sampling programme at the Capricorn prospect.