Vancouver, British Columbia--(Newsfile Corp. - April 29, 2026) - Great Pacific Gold Corp. (TSXV: GPAC) (OTCQX: GPGCF) (FSE: 0B3) ("Great Pacific Gold," "GPAC," or the "Company") announces that the final step of the spin-out of the Walhalla Project into a new publicly traded company has been completed and Walhalla Gold Corp. ("Walhalla Gold" or the "Company") (CSE: WAU) has announced that its common shares are now listed on the Canadian Securities Exchange (the "CSE") and will commence trading today, Wednesday April 29, 2026, under the symbol "WAU".
Pursuant to the previously announced plan of arrangement (the "Arrangement"), Walhalla Gold was spun out from Great Pacific Gold on the basis of one common share of Walhalla Gold for every one share of GPAC (the "Spin Out"). As a result of the Spin Out, Walhalla Gold issued a total of 152,310,965 common shares to the shareholders of GPAC (see news release on December 12, 2025). As set forth under the Arrangement and prior to the listing on the CSE, Walhalla Gold acquired all of the issued and outstanding common shares of 1537559 B.C. Ltd. ("Finco"). The acquisition of Finco was carried out by three-cornered amalgamation whereby Walhalla Gold issued one common share to the shareholders of Finco for every common share of Finco (the "Finco Acquisition"). Prior to the Concurrent Financing (as defined below), Finco had 25,000,001 common shares issued and outstanding.
A non-brokered private placement of 35,025,000 common shares at a price of $0.20 per share for gross proceeds of $7,005,000 was completed in connection with the Finco Acquisition (the "Concurrent Financing").
For more information on Walhalla Gold Corp, please visit their website at walhallagoldcorp.com
On behalf of Great Pacific Gold:
Greg McCunn
Chief Executive Officer and Director
For further information on Great Pacific Gold, visit gpacgold.com or contact:
Investor Relations
Phone +1-778-262-2331
Email: info@gpacgold.com
About Great Pacific Gold
Great Pacific Gold's vision is to become the leading gold-copper development company in Papua New Guinea ("PNG"). The Company has a portfolio of exploration-stage projects in PNG, as follows:
- Wild Dog Project: the Company's flagship project is located in the East New Britain Province of PNG. The project consists of a large-scale epithermal target, the Wild Dog structural corridor, stretching 15 km in strike length, with geophysical data suggesting significant depth extent. The survey also highlighted the Magiabe porphyry target, adjacent to the epithermal target and potentially 1,000 metres in diameter and over 2,000 metres deep. Drilling of the epithermal structure on the Sinivit deposit has yielded high-grade results, including WDG-08 which intercepted 8.4 metres at 50 g/t AuEq from 154 metres. The current drilling program will extend through 2026 with the second drill rig now operational.
- 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 and have developed a follow-up Phase 2 program for 2026.
- Arau Project: also located in the Eastern Highlands Province of PNG, the Arau Project is south of and contiguous to the mine tenements of K92. Arau 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. Great Pacific Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, most 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.
Mineralization at the properties held by K92 Mining Inc. is not necessarily indicative of mineralization at the Wild Dog Project.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/294812
Source: Great Pacific Gold Corp.
