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VANCOUVER, BC, June 23, 2025 /CNW/ - Great Pacific Gold Corp. ("Great Pacific Gold," "GPAC," or the "Company") (TSXV: GPAC) (OTCQX: FSXLF) (Germany: V3H) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as lead agent (the "Lead Agent") on behalf of a syndicate of agents (collectively, the "Agents"), in connection with a best efforts private placement of up to 22,230,000 units of the Company (the "Units") at a price of $0.45 (the "Offering Price") per Unit for aggregate gross proceeds of $10,003,500 (the "Offering").  The Company has also granted to the Agents an option, exercisable in whole or in part up to 48 hours prior to closing of the Offering, to sell up to an additional 4,445,000 Units at the Offering Price for additional gross proceeds of up to $2,000,250.

Each Unit will consist of one (1) common share of the Company (a "Common Share") and one-half (1/2) of one Common Share purchase warrant (each whole Common Share purchase warrant a "Warrant"), with each whole Warrant exercisable to purchase one (1) additional Common Share (a "Warrant Share") at a price of $0.70 per Warrant Share for a period of three years following closing of the Offering.

The Units will be offered pursuant to Part 5A of National Instrument 45-106 – Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers resident in Canada (other than the province of Quebec), and in other qualifying jurisdictions outside of Canada that are mutually agreed to by the Company and the Agents on a private placement basis pursuant to relevant prospectus and registration exemptions in accordance with applicable laws.  The securities issued under the Offering to Canadian subscribers will not be subject to a hold period in Canada.

There is an offering document related to the Offering (the "Offering Document") that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at gpacgold.com.  Prospective investors should read the Offering Document before making an investment decision.

The net proceeds of the Offering will be used for drilling at the Wild Dog Project, additional exploration activities in Papua New Guinea and for general and administrative expenses and working capital purposes, as further described in the Offering Document.

Closing of the Offering is expected on or about July 3, 2025 or such other date as the Company and Lead Agent may agree and is subject to the approval of the TSX Venture Exchange.

Eventus Capital Corp. has been appointed as a special advisor to the Company.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the "United States" (as such term is defined in Regulation S under the U.S. Securities Act), and may not be offered or sold in the United States unless registered under the U.S. Securities Act and the securities laws of any applicable state of the United States or an exemption from such registration requirements is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On behalf of Great Pacific Gold:
Greg McCunn
Chief Executive Officer and Director

About Great Pacific Gold

Great Pacific Gold has a portfolio of exploration-stage projects in Papua New Guinea ("PNG"). The Company is focused on developing gold-copper resources from its highly prospective land packages. Its core projects include:

• Kesar Project: located in the Eastern Highlands province of PNG and contiguous with the mine tenements of K92 Mining Inc. ("K92"), the Kesar Project is a greenfield exploration project with several high-priority targets in close proximity to the property boundary with K92. Multiple epithermal veins at Kesar are on strike and have the same orientation as key K92 deposits, such as Kora. Exploration work to date by the Company at the Kesar Project has shown that these veins have high grades of gold present in outcrop and very elevated gold in soil grades, coincident with aeromagnetic highs. The Company conducted a diamond drill program on key target areas at the Kesar Project from November 2024 to May 2025.

• Wild Dog Project: located in the East New Britain province of PNG, the Wild Dog Project is a brownfield exploration project with a history of small-scale gold mining. The Wild Dog Project contains numerous epithermal and porphyry hydrothermal-magmatic targets evidenced by previous exploration and operations. The Company completed a road refurbishment in August 2024 and baseline environmental work in Q4 2024.  In Q1 2025, the Company began preparing for a drilling program with camp and infrastructure being established, airborne geophysics (MobileMT) survey completed and a geological team in place.  A first phase of diamond drilling is underway on the property.

• Arau Project: located in the Eastern Highlands province of PNG, the Arau Project contains the highly prospective Mt. Victor exploration target with potential for a high sulphidation epithermal gold-base metal deposit. A Phase 1 Reverse Circulation drilling program was completed at Mt. Victor in August 2024, with encouraging results. The Arau Project includes the Elandora licence, which also contains various epithermal and copper-gold porphyry targets.

The Company also holds the Tinga Valley Project in PNG.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Such forward-looking statements include statements relating to the Offering, including the completion and anticipated timing for completion of the Offering, the potential size of the Offering, the Company's intended use of the net proceeds of the Offering, the receipt of approval from the TSX Venture Exchange, and the Company's exploration and development plans. Great Pacific Gold cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Great Pacific Gold's limited operating history, its exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Great Pacific Gold does not undertake to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Great Pacific Gold Corp.