dixie gold inc. announces financing

Vancouver, British Columbia – March 12, 2024 – Dixie Gold Inc. (TSX VENTURE: DG)(“Dixie Gold” or the “Corporation”) announces that it intends to conduct a non-brokered private placement to raise capital, as further set by the parameters of its market-traded price.

The Corporation intends to conduct a non-brokered common share unit financing (the "Financing") consisting of up to 5,000,000 common share units (the “Units”) to be issued at a price of $0.05 per Unit.

Each Unit will consist of one common share of the Corporation (a "Unit Share") and one common share purchase warrant (a “Warrant”) that entitles the holder of a Warrant, upon further payment to the Corporation, to acquire one additional common share of the Corporation (a "Warrant Share") at an exercise price of $0.05 per Warrant Share on any date prior to the date which is 60 months following the closing date of the Financing or tranche thereunder.

The Corporation intends to use the proceeds of the Financing for working capital purposes.

The Corporation does not intend to pay any finder’s fees under the Financing, with today’s announcement, if successfully placed, expected to result in greater net proceeds for the Corporation as compared to a financing of gross proceeds minus finder’s fees.

Insiders (as that term is defined by securities laws) may participate for 25% or more of the Financing in effort to support the financial position of the Corporation.

The Financing is subject to all applicable regulatory approvals, including by the TSX Venture Exchange, as well as a customary four-month hold period on securities issued, all as pursuant to applicable securities laws of Canada.

Cancellation of Prior Financing

The Corporation has cancelled its previously announced private placement (see news release, Dixie Gold Inc. Announces $250,000 Capital Raise dated March 6, 2024), under which it had previously made third-party finder’s fees available.

About Dixie Gold Inc.

Dixie Gold Inc. (TSXV: DG) is a publicly traded exploration company holding a portfolio of exploration projects in Canada.

For more information, please visit www.dixiegold.ca

Signed,
Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Canadian securities laws. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words "anticipate," "expect," "suggest," "plan," "believe," "intend,", “intention” "estimate," "target," "project," "should," "could," "would," "may," "will," "forecast" and other similar expressions are intended to identify forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to the matters related to the Financing, such as the number of Units issued, if any, and the closing, if any, of the Financing. Actual results may differ materially from those currently expected or forecast in such statements.

Neither the 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.

Contact Info:

Ryan Kalt
Chief Executive Officer
Dixie Gold Inc.
T: 604.687.2038
 E. info@dixiegold.ca
 W. www.dixiegold.ca