Legacy Gold Mines Plans to Raise up to CA$3 Million Via Non-Brokered Private Placement; Temporarily Suspends Drilling at Baner Gold Mine Property

12:54 PM EDT, 10/28/2026 (MT Newswires) -- Legacy Gold Mines (LEGY.V) plans to complete a non-brokered private placement to raise up to CA$3 million, it said Wednesday. The company will place up to 4.3 million priced at CA$0.70 each, said the company. The company plans to use proceeds to fund continued drilling at its Baner Gold Mine property in the Orogrande Mining District of Idaho, for continued business development and general and administrative purposes, it said. The company also said it temporarily suspended drilling at the Baner Gold Mine property and demobilized the drill rig from site for winterization. The company currently plans to return it to the property to resume drilling, it added. Assay results for a number of holes remain pending, added Legacy. "Expectations about Baner's near-surface gold potential have been exceeded by the 2026 drilling results, and we intend to push forward with continued drilling in the months ahead," said Chief Executive Officer Brian Hinchcliffe. "The roughly 50 holes and 32,000 feet drilled over the past several months have outlined gold mineralization open in all directions. The plan is to winterize the drill and bring it back as we work toward establishing Baner's initial mineral resource." The company's shares were last seen up CA$0.01 to CA$0.76 on the TSX Venture Exchange. Price: 0.76, Change: +0.01, Percent Change: +1.33