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BULGOLD Announces Closing of Non-Brokered Private Placement for Gross Proceeds of Approximately $1 Million

Not for distribution to United States newswire services or for dissemination in the United States

TORONTO, July 10, 2025 (GLOBE NEWSWIRE) -- BULGOLD Inc. (TSXV:ZLTO) (the "Company" or "BULGOLD") is pleased to announce the closing of its previously announced non-brokered private placement (the "Offering") for gross proceeds of approximately $1,076,720 from the sale of 21,534,407 common shares in the capital of the Company (each, a "Share") at a price of $0.05 per Share (the "Issue Price").

In consideration for the services rendered by certain arm's length parties (the "Finders") in connection with the Offering, the Finders received an aggregate cash fee of $7,700 and an aggregate of 154,000 finder's warrants (the "Finder's Warrant"). Each Finder's Warrant entitles the holder to acquire one additional common share in the capital of the Company at an exercise price of $0.07 until January 9, 2027.

Management of the Company subscribed for $138,567 of the Offering. The issuances of Common Shares to such insiders are considered related party transactions under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the formal valuation and minority approval requirements in sections 5.5(b) and 5.7(1)(b) of MI 61-101, respectively, in respect of such insider participation. The Offering remains subject to the final approval of the TSX Venture Exchange. The Shares are subject to a hold period ending on November 10, 2025.

The Company will use the proceeds from the Offering for exploration, as well as for general corporate purposes.

The securities described herein have not been, and will not be, registered under the United ...