11:31 AM EDT, 06/12/2025 (MT Newswires) -- American Eagle Gold ( AMEGF ) rose 2% on Thursday after it closed a private placement for near $820,000, which was bought by a wholly owned unit of South32.

South32 bought 1.16-million charity flow-through shares priced a $0.71 each.

Proceeds will be used for exploration work at its NAK project located in the Babine Copper-Gold Porphyry district in central British Columbia.

The company also said one of its two drill rigs will be moved to begin drilling in the northern area in the next few days under its 2025 drill program. It noted that some of the drill holes in this phase of the program will utilize helicopter support and is anticipated to involve a third drill rig.

Shares of the company were last seen up $0.01 to $0.51 on the TSX Venture Exchange.

Price: 0.51, Change: +0.01, Percent Change: +2.00