Gold

 Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to provide an update on Company activities at year end. Japan Gold's most productive year has been 2021, notwithstanding the global COVID 19 pandemic. The Company has operated successfully without any health and safety issues. The dedicated Japan Gold team has been committed to excellence and has surpassed Company expectations with the volume and quality of work completed across all elements of the business, and this is a credit to all involved.

Japan Gold is well funded to continue to advance its 2022 Barrick Alliance work programs with an initial approved USD $4 million from Barrick Gold Corporation ("Barrick"). With internal capital from the July 2021 CAD $17 million equity financing, the Company is also well positioned to advance its two independently held projects.

Highlights:

  • Barrick Alliance Workshop held in November 2021 has refined areas of interest from work programs completed to date
  • Barrick Alliance portfolio further expanded to cover more prospective ground with the acceptance of two new areas of prospecting rights
  • Barrick Alliance portfolio increased 42% since formation in February 2020
  • Ryuo Prospect: 11 drill holes completed with assay results and data interpretation due in February 2022

Barrick Alliance

Vancouver Workshop

The Barrick Alliance was formed in February 2020 (see February 24, 2020 news release). Barrick has solely funded an initial evaluation of 29 projects from the Japan Gold portfolio. Regional scale geochemical sampling programs along with geophysical gravity surveys have been completed and interpreted over the majority of the portfolio. An in-person technical workshop with Barrick and Japan Gold representatives was held in Vancouver during the last week of November 2021 to discuss the data collected and refine areas of interest. Following over a month of workshop preparation including data compilation and analysis, the 3-day workshop included 18 participants (16 in person) from 7 countries. The program was very comprehensive as the workshop discussed, in great detail, the large Barrick Alliance portfolio across the five major gold provinces of Japan.

The information reviewed indicates numerous areas of interest with coincident anomalous geochemistry and alteration, and supporting gravity defined structure. The footprints of well-preserved hydrothermal alteration systems, which potentially host large epithermal vein deposits, are being delineated. Interpretations completed to date are now narrowing down the focus of ongoing exploration programs with the goal of defining priority areas for follow-up and Barrick Alliance advancement.

The evaluation of the Barrick Alliance portfolio is an ongoing process, and several additional virtual sessions are planned for January and February 2022 in order to refine the rating and ranking of the various regions and the camps or prospects within those regions. Once conclusions are reached, the Company will make an announcement.

Following the Barrick Alliance workshop, Joel Holliday EVP Exploration for Barrick said, "The hydrothermal provinces of Japan have the potential to host world class deposits and have received limited exploration focus in recent times. The Barrick and Japan Gold teams are excited to see the results from the initial screening programmes begin to highlight the areas for more focussed follow up work which will begin in 2022."

Barrick Alliance Increases Portfolio

Japan Gold has expanded the Kanehana and Buho Projects on the island of Hokkaido with the acceptance by the Japanese Ministry of Economy, Trade and Industry ("METI") of 26 new prospecting rights applications covering 83 sq km (Figure 1 & 2). These expanded areas are included in the Barrick Alliance.

Since commencement of the Barrick Alliance in February 2020, the Barrick Alliance portfolio has increased by 42 % as part of a strategy to expand coverage based on the identification of key prospectivity indicators, throughout the gold provinces of Japan.

Kanehana Project Expansion

Located on the west side of the Ikutahara Project in north Hokkaido, the Kanehana Project covers favorable Miocene-age rhyolite graben-fill volcanics and sediments which host at least eight historical mines and workings (Figure 1). The new applications at Kanehana are positioned to cover potential en echelon extensions north and south of the historical Yahagi Gold Mine where three 'blind' epithermal quartz veins were discovered in 1934 by an exploration adit developed below silicified rhyolite. Approximately 2,250 ounces of gold and more than 32,000 ounces of silver were produced during two periods of mining at Yahagi between 1934 and 19511, and the Company believes there is potential for more vein discoveries at depth along the prospective graben-margin faults. Fifteen new prospecting rights, comprising of 4,916 hectares were lodged to cover these prospective areas.

Buho Project Expansion

The Buho Project is located on the southern margin of the Akaigawa caldera in the Sapporo-Iwanai mineral district of southwest Hokkaido (Figure 2). The district is host to over 65 metallic mineral deposits including the epithermal vein deposits: Chitose (736,000 oz Au @ 14.5 g/t); Tiene (352,000 oz Au @ 7.5 g/t); and Shizukari (256,000 oz Au @ 7 g/t)2. The historical workings at Buho were previously explored by the Austpac/Nishio Iwai Joint Venture between 1988 and 1992. Mapping, geochemical sampling and CSAMT surveying culminated in five drill holes, drill hole DDH-B1 intersected a quartz- adularia vein 140 m below exposed sinters giving a result of: 3.5 m @ 22.0 g/t Au and 42.0 g/t Ag, including 0.9 m @ 73 g/t Au and 65 g/t Ag3.

Eleven new prospecting rights comprising 3,383 hectares were lodged to cover prospective strike extensions to the northwest, and southeast of the Buho Project adjacent to the Todoroki Mine which produced more than 190,000 ounces of gold1.

Ryuo Prospect Drilling Program

On May 26, 2021, Japan Gold commenced drilling at the Ryuo Mine prospect located within the Ikutahara Project in the Kitami Region of northeast Hokkaido, Japan. The Ikutahara Project is 100% held by Japan Gold and is not included in the Barrick Alliance. Newmont Corporation has a right of first refusal to become a joint venture partner on this project (and the Ohra-Takamine Project in Kyushu) and this right combined with the Newmont 10% equity holding in Japan Gold has led to their active participation in the technical committee which guides the exploration of the Ikutahara and Ohra-Takamine Projects.

The Ryuo Mine operated before the Second World War and workings were developed on up to six levels on two veins, the Jinja and Shouei veins. Workings on the main Jinja vein were developed over an approximate 75 m vertical extent before the government imposed mine closure in 1943. Underground sampling carried out in the 1950's at the Jinja vein workings, revealed zones of high-grade gold mineralization including one vein sampled over a strike length of 72 m returning average grades of 40.8 g/t Au and 193 g/t Ag with an average vein width approximately 0.5 m.

A number of peripheral veins were also mined along a 1 km long, open ended zone of alteration and mineralization.

11 Drill Holes Completed

On September 14, 2021, Japan Gold announced high grade gold-silver intercepts from the first three drill holes at the Ryuo prospect. The Company has subsequently completed a further 8 drill holes, using 3 of Japan Gold's in-house diamond core drill rigs and drilling team (Figure 3). Samples from the additional 8 drill holes have been cut, sampled and dispatched to the ALS laboratory in North Vancouver for assay. Results from these 8 drill holes are anticipated in February 2022.

The Ikutahara Project also hosts the Kitami Region's third largest gold mine, the historic Kitano-o Mine along with numerous other historical mines and workings that the Company is in the process of advancing.

Stock Option Grant

Japan Gold announces that the Board of Directors of the Company has approved the granting of 6,090,000 stock options (the "Options") to certain directors, officers, employees and consultants of the Company. The Options are exercisable at a price of $0.35 per share for a period of 5 years from the date of grant.

On behalf of the Board of Japan Gold Corp.

"John Proust"

Chairman & CEO

References

1Gold Mines of Japan, 1989. The Mining & Materials Processing Institute of Japan.
2Garwin, Hall, Watanabe, 2005. Tectonic Setting, Geology, and Gold and Copper Mineralization in Cenozoic Magmatic Arcs of Southeast Asia and the West Pacific, Economic Geology 100th Anniversary Volume pp. 891-930.
3Austpac Gold NL. Company Reports, 1988 to 1994.

Qualified Person

The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration and Country Manager, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.

Note: The Company's compilation of underground sampling data at Ryuo has been based on data published by the MMAJ and the Company has not resampled the underground workings or re-assayed samples. The MMAJ report does not refer to QA/QC protocols followed historically.

About Japan Gold Corp.

Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects. The Company holds a portfolio of 31 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold's leadership team represent decades of resource industry and business experience, and the Company has recruited geologists, drillers and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com

For further information please contact:

John Proust
Chairman & CEO
Phone: 778-725-1491
Email: jproust@japangold.com
Website: www.japangold.com

Cautionary Note

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results related to future partnerships and the Company's 2021 gold exploration program. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, general economic, market and business conditions; competition for qualified staff; the regulatory process and actions; technical issues; new legislation; potential delays or changes in plans; working in a new political jurisdiction; results of exploration; the timing and granting of prospecting rights; the Company's ability to execute and implement future plans, arrange or conclude a joint-venture or partnership; and the occurrence of unexpected events. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable laws.

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Figure 1: Kanehana Project, north Hokkaido with historical mines and workings.

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Figure 2: Buho Project southwest Hokkaido, new applications and historical mines and workings

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Figure 3: Ryuo Prospect alteration map with historic workings, three drill holes completed with results released: IKDD21-001-003, and eight additional drill holes completed with results pending: IKDD21-004-011.

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JG:CA
Japan Gold

Japan Gold

Company Highlights

  • First-mover status as an international gold explorer in Japan
  • 30 gold exploration projects in the safe and stable jurisdiction of Japan
  • Projects host over 40 past-producing mines with high-grade gold mineralization
  • Country-wide alliance in Japan with the Barrick Gold Corporation
  • Newmont Corporation as a significant shareholder
  • Management team with extensive local knowledge

Overview

Japan Gold (TSXV:JG) is a gold exploration company with a vast portfolio of 30 gold projects across the island nation of Japan. Japan Gold's leadership team has long recognized the potential for gold exploration in Japan. When the Japan Mining Act was amended in 2012 for the first time, allowing foreign mineral companies the ability to hold exploration and mining permits, Japan Gold was the first foreign mineral exploration company to seize this opportunity.

Japan Gold is the only foreign mineral exploration company to focus solely on gold exploration in the country and has gathered a large portfolio of projects that collectively host over 40 past-producing gold mines and workings which were all shut down during World War II due to a government moratorium on gold mining.

During February 2020, Japan Gold announced a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects in Japan. The Japan Gold-Barrick alliance includes 28 out of 30 projects currently held by Japan Gold.

Japan Gold will continue to advance the Ikutahara Project in Hokkaido and the Ohra-Takamine Project in Kyushu independently guided by the Japan Gold/Newmont Technical Committee. Newmont Corporation has a joint venture right of first refusal on these two projects.

As a first-mover in the country, Japan Gold has also taken the opportunity to establish strong relationships with local universities and industry specialists, incorporating some of these—such as Mitsuhiko Yamada and Takashi Kuriyama—into its management team and board of directors. This first-mover position has also made the company a key resource for other organizations looking to partake in gold exploration in the region.

Japan Gold is led by an exceptional management team with extensive local knowledge and relationships. This team is supported by a knowledgeable board of directors and advisors. As Japan Gold is a spinoff of Southern Arc Minerals Inc (TSXV:SA)—a company that shares many of the same directors—26 percent of the company is held by its predecessor, giving the company a unique share structure.

Over the course of the next 12 months, Japan Gold plans to complete large scale, regional programs under the Japan Gold-Barrick alliance which is expected to include geochemical (BLEG) stream sediment analysis and geophysical analysis over the 28 projects included in the alliance. These programs are guided by the Japan Gold-Barrick Alliance Technical Committee.

In addition, the company plans to fully evaluate and drill permit three prospects on the two projects excluded from the Barrick alliance. Newmont has a joint venture right of first refusal on these two projects. Japan Gold plans to complete drill programs on at least two of these prospects over the next 12 months. These programs are guided by the Japan Gold/Newmont Technical Committee.

Mining in Japan

As a safe and stable jurisdiction, Japan hosts 76 known past producing gold mines, including five gold deposits greater than one million ounces.

All of Japan's gold mines were shut down in 1943 as part of a moratorium that was implemented by the government in light of World War II. Following that, there was a short period of small-scale production in the 1960s and 1970s and since then, production has been limited to a handful of mines including the Hishikari mine, which still produces today and is one of the world's highest-grade gold mines. The Hishikari mine has produced over 7.8 million ounces of gold between 1985-2019 at an average grade of 30-40 g/t gold.

Mining in Japan

Understanding the potential for gold exploration in the island nation, Japan Gold has entered the country as a first mover, collaborating with local companies and universities while engaging with local directors and advisors.

Key Projects

The Ikutahara Project – Hokkaido, Japan

The most advanced of Japan Gold's projects is the 205.13 square kilometer Ikutahara project, located in Japan's northern island, Hokkaido. The project hosts 20 historic mines and workings, making it highly prospective for gold mineralization. Based on the results of Japan Gold's review of historical data and validation by its own in-house field programs, a Phase 1 scout drill program was completed in 2019. The surface geochemistry, CSAMT and gravity geophysics collected over the Kitano-o Prospect, along with the Phase 1 drill program results, have refined the company's understanding of the geology of the Kitano-o hydrothermal system and give strong vectors to the eastern side of the prospect. It is now interpreted that the western part of the Kitano-o Prospect represents the 'lateral outflow' of a large epithermal system, developed at depth in the eastern part of the three-kilometer-long prospect.

Kitano-o Gold District

The historic Kitano-o Gold district comprises eight historic mines and workings over an approximate seven-by-four-kilometer area and includes the Kitano-o prospect. The district is highlighted by an extensive co-incident gold-arsenic-antimony mercury anomaly in stream sediment samples over the area.

Kitano-o Prospect

The Kitano-o prospect, which includes the Kitano Mine, is located within a seven-by-four-kilometer gold district which hosts seven additional gold prospects. The Kitano-o mine produced more than 96,000 ounces of gold at an average grade of 5.9 g/t gold primarily from shallow open-pits along a three-kilometer alteration corridor, prior to the government-imposed closure in 1943.

Phase 1 drill testing of the western side of the Kitano-o Prospect was completed in late December 2019 with six diamond drill holes, totaling 2,837 meters. Drilling targeted depth extensions of the western end of a well-defined vein-corridor exposed within extensive shallow open-pits and geophysical anomalies. Significant zones of quartz veining were intersected corresponding to those mapped at surface, however, the low tenor of gold reported from drill core assays does not adequately reflect the over 96,000 ounces of gold mined from the exposed paleosurface sinter deposits in the open pits.

The eastern side of the Kitano-o prospect has now been identified as a key target area for Phase 2 drilling. Gold historically mined at the surface at the Kitano-o Mine is interpreted to have been deposited at the paleosurface during deposition of a silica-sinter apron through lateral outflow. Silica-rich fluids that formed the sinter, also carrying gold, flowed upwards then laterally out from hot spring vents connected to a deep epithermal boiling zone. Rock samples collected from the eastern side of the Kitano-o prospect show high gold and antimony values potentially indicating higher temperatures of deposition and closer proximity to the 'upflow' or 'boiling zone' where gold was precipitating. The figure below represents Japan Gold's current interpreted geological model for the Kitano-o prospect.

Ryuo Prospect

The Ryuo mine, operated prior to 1943, was developed on five vein zones identified within a 1,000-meter by 400-meter NE-SW oriented zoned alteration system, which remains open to the southwest. The Metal Mining Agency of Japan (MMAJ) reported data on the Jinja and Shouei veins and shows workings developed on up to six levels to a depth of 75 meters below the surface. Underground workings of the Jinja veins were re-sampled during the 1950s and some noticeably high-grade samples were reported. Historic channel samples include results that show high-grade shoot development such as 72 meters with average grades of 40.8 g/t gold and 168 g/t silver in addition to 9 meters of 31 g/t gold and 268 g/t silver.

CSAMT and gravity geophysics have been completed in selected areas and a Phase 1 scout drilling is currently being permitted.

Japan Gold's Key Kyushu Project

The Ohra-Takamine Project

The Ohra-Takamine Gold prospect lies within the highly gold endowed Southern Kyushu Epithermal Gold Province and hosts five historic gold mines, the Matsuno, Urushi, Takamine, Ohra, and Aira Yamada Mines, which define a northeast-oriented structural corridor. In excess of 11 million ounces of gold have been produced from high-grade low-sulfidation epithermal gold deposits in the province. Notable producers include the Hishikari Mine with 7.8 million ounces of gold produced to date at average grades of 30-40 g/t gold; Kushikino Mine with 1.8 million ounces at 6.7 g/t gold, the Yamagano Mine with 910,000 ounces at 17.4 g/t gold and the Okuchi Mine with 714,000 ounces at 13.6 g/t gold.

A 35 line-kilometer, grid-based, CSAMT geophysical survey was completed along a 4.2-kilometer portion of the Ohra-Takamine Mine corridor. The CSAMT geophysical survey at the Ohra-Takamine project was undertaken to identify zones of sub-surface electrical resistivity and conductivity, representing silicification and clay alteration related to epithermal vein systems.

Results of the CSAMT survey at Ohra-Takamine are very encouraging and have defined a number of linear kilometric-scale, contiguous resistive zones (CSAMT anomalies), locally extending to depth across the survey area.

Prospect-scale gravity readings were collected over an eight-by-four kilometer area with nominal 60 to 100-meter spacings along access roads and ridgelines and merged with Geological Survey of Japan gravity data to produce a new suite of processed gravity images. The spatial relationship between gravity highs and the major low-sulfidation epithermal gold deposits in the province is well described in the literature, and uplift or doming of the underlying basement, producing gravity anomalies, is interpreted as a key factor in the development of deep-seated fracture pathways for hydrothermal fluid flow and subsequent quartz vein development in these mines.

Geophysical surveys completed to date are expected to add a vital third dimension to the epithermal targets at the Ohra-Takamine Project.

Management Team

John Proust – Chairman and CEO

John Proust has successfully founded and managed a number of resource companies. Mr. Proust has served on the boards and held senior operating positions, and has directed and advised public and private companies regarding debt and equity financing, mergers and acquisitions and corporate restructuring since 1986. Mr. Proust is currently Chairman and CEO of Southern Arc Minerals Inc., Chairman and a director of Canada Energy Partners Inc., and a director of Rise Gold Corp. Mr. Proust has extensive experience in corporate governance, is a graduate of The Directors College, Michael G. De Groote School of Business at McMaster University and holds the designation of Chartered Director.

Dr Michael Andrews, PhD, FAusIMM – Director

Dr. Mike Andrews is a geologist with more than 40 years of research and mining industry experience in gold, copper, coal and iron. He holds an honours degree in Geology from the University of Reading, and a doctorate in exploration geochemistry from the University of Wales. Dr. Andrews is also currently President & COO and a director of Southern Arc Minerals Inc., and a Non-executive Director of Kingsrose Mining Limited. He was a founding director of Kingsrose Mining Limited and played an instrumental role in the discovery, exploration, feasibility and development of its Way Linggo Gold Mine in Indonesia. Dr. Andrews also held the positions of Executive Director and Chief Geologist of AuIron Energy Ltd., Director of Gold Operations for Meekatharra Minerals Ltd., and managed the Teck-MM Gold Indonesian Joint Venture, an exploration portfolio of thirteen gold and copper projects in Indonesia. He also held senior exploration positions with Ashton Mining Ltd, Aurora Gold Ltd., and Muswellbrook Energy and Minerals.

John Carlile, BSc, MSc, FAusIMM – Director

John Carlile is a geologist with more than 35 years of experience in the resource industry. He has held senior executive and director positions with both major and junior resource companies, including as President of Indonesian and Philippines subsidiaries of Newcrest Mining Limited. As a geologist, he has a proven track record of mineral discovery and business building in Asia, most notably as Exploration Manager, Asia for Newcrest Mining Limited when it discovered its Gosowong mine. He has served on the boards of several resource companies, and currently holds the position of director for Southern Arc Minerals Inc. and Non-executive director of Kingsrose Mining Limited. He holds a BSc in Geology from University of Reading, England, and an MSc in Mineral Exploration from the Royal School of Mines, Imperial College, University of London. He is a Fellow of the AusIMM and a Fellow of the Geological Society of London.

Takashi Kuriyama, B.Eng. – General Manager, Exploration

Takashi Kuriyama, a geology graduate of the Mining and Geology Department of Akita University, served in increasingly senior roles with Sumitomo Metal Mining Co., Ltd. (“Sumitomo") from 1974 until his recent retirement as General Manager of its Global Exploration and Development Department. During his career at Sumitomo, Mr. Kuriyama had the role of Exploration and Geology Manager at Sumitomo's Hishikari world class gold mine in Kyushu, Southern Japan, and subsequently held senior exploration positions in Africa, Australia, Mexico, Canada and the United States of America. In the roles of Executive Vice President of Sumitomo Metal Mining America Inc. and Managing Director of Sumitomo Metal Mining Oceania Pty Ltd., he oversaw the development of the Northparkes copper-gold porphyry copper mine and the Pogo gold mine in Alaska. During his career with Sumitomo, he was seconded to Japanese Government Organizations serving as Councilor at the Metals Exploration Group of the Japan Oil, Gas and Metals National Corporation (JOGMEC) and Director at the Joint Venture Exploration Division for the Metal Mining Agency of Japan (MMAJ). Mr. Kuriyama also served as a Director of Teck Resources Limited from 2006 until 2016.

Dr. Kotaro Ohga, PhD – Chief Engineer

Kotaro Ohga held the position of Associate Professor at Hokkaido University in the Graduate School of Engineering. With a PhD in Mining Engineering, Dr. Ohga has extensive experience with permitting and drill programs in Japan. As Chief Engineer, Dr. Ohga is the main point of contact between Japan Gold and the Japanese Government, offering invaluable insight and expertise as Japan Gold advances its properties.

Andrew Rowe, BSc, MAusIMM – VP Exploration, Japan Country Manager

Andrew Rowe comes to Japan Gold through his previous position with Southern Arc Minerals. He joined Southern Arc in 2006 as a Senior Geological Consultant and was soon promoted to Chief Geologist and then Executive Vice President, leading Southern Arc's exploration programs from grassroots exploration through to completion of the first resource estimate at the Company's West Lombok Project. He planned and implemented large-scale exploration programs, managing both the technical and administrative aspects of the projects. He briefly left Southern Arc in December 2014, and then rejoined the Company as a consultant in August 2015 to continue with Southern Arc's exploration projects in Japan. He graduated with a Bachelor of Applied Science degree in Geology from the University of Technology, Sydney, Australia. He is a Member of the Australasian Institute of Mining and Metallurgy and a Fellow of the Society of Economic Geologists. He has experience in mineral exploration and project management in Australia and various countries in Southeast Asia including Thailand, Indonesia, Mongolia, China and Laos. During this time he held exploration positions with Renison Goldfields, Normandy Anglo Asia, Phelps Dodge, Aurora Gold and Ivanhoe Mines. Immediately prior to joining Southern Arc he was the principal geologist for Pan Australian Resources Ltd (Laos) and part of the team responsible for successfully bringing the Phu Kham Cu-Au porphyry deposit through to bankable feasibility.

Vincent Boon, CPA, CA – CFO and Corporate Secretary

Mr. Boon is a chartered accountant with over ten years of professional accounting experience with private and public companies focusing on financial reporting, regulatory compliance, internal control and corporate finance activities. Mr. Boon's experience includes financial reporting for both Canadian and U.S. listed companies with international subsidiaries, strategic planning, tax planning, corporate governance, equity financings and due diligence for acquisitions. As an employee of J Proust & Associates, an organization providing public company management and venture capital to start-up and junior companies, Mr. Boon is also the CFO of Southern Arc Minerals Inc., Canada Energy Partners Inc., and Rise Gold Corp. Mr. Boon holds a Bachelor of Science degree from the University of British Columbia and is a Chartered Professional Accountant, CPA, CA.

Mitsuhiko Yamada, BA – Director

Mitsuhiko Yamada is a mining business professional with international experience overseeing all aspects of mining projects from exploration through to production. He earned his degree in International Economics at Keio University and spent his career with Sumitomo Corporation. He worked around the globe for Sumitomo, managing various mining projects and overseeing joint venture relationships with some of the world's biggest mining companies, including Newmont, Phelps Dodge, Teck, Xstrata, Rio Tinto and Sherritt. He held increasing senior roles with Sumitomo, ultimately achieving the position of Executive Officer and General Manager of Mineral Resources. He retired from Sumitomo Corporation in 2012 and is currently a Lecturer of English at the Department of Industrial Engineering & Management at Kanagawa University.

Robert Gallagher, BApSc – Director

Bob Gallagher has more than 40 years of experience in the mining industry and is a Mineral Engineer with a specialty in mineral processing. Currently Mr. Gallagher is a director for Yamana Gold Inc., Southern Arc Minerals Inc., Capstone Mining Corp., and BC Hydro. Most recently, he held the position of President and Chief Executive Officer at New Gold Inc. Previously, Mr. Gallagher held increasingly senior management roles at Newmont Mining Corporation over a seven-year period, including Vice President Operations, Asia Pacific; Vice President, Indonesian Operations; and General Manager, Batu Hijau. Earlier in his career, Mr. Gallagher worked at a number of operating mines located throughout the Americas and Asia in various engineering, metallurgical, and mine management roles, including most notably 15 years at Placer Dome Inc. Mr. Gallagher has considerable project development and operational experience. He has been recognized by industry associations for his contributions throughout his career, most notably in 2013 he accepted the Prospector & Developer Association of Canada's Viola R. MacMillan Award for Company or Mine Development on behalf of New Gold Inc., and in 2014 he was jointly recognized by the Association for Mineral Exploration British Columbia with the E.A. Scholz Award for excellence in mine development.

Dr. Sally Eyre, PhD – Director

Dr. Sally Eyre is a mining finance professional with extensive experience in global resource capital markets and mining operations. During 2011 to 2014 she served as President & CEO of Copper North Mining and prior to that she served as Senior Vice President, Operations at Endeavour Mining, responsible for a portfolio of exploration, development and production projects throughout West Africa. She also served as President & CEO of Etruscan Resources Inc. (now Endeavour Mining Corp.), a gold company with producing assets in West Africa. She has served as Director of Business Development for Endeavour Financial Ltd. and has held executive positions with a number of Canadian resource companies. She was appointed Senior Vice President, Corporate Development of Petro Rubiales Energy Corp. (now Pacific Rubiales Energy) and also served as Vice President, Corporate Affairs of UrAsia Energy Ltd. (now Uranium One). In 2003 she served as President & CEO of TLC Ventures Corp. (now Calibre Mining Corp.). She has a PhD in Economic Geology from the Royal School of Mines, Imperial College, London. She is a member of the Society of Economic Geologists (SEG) and a former Director of the SEG Canada Foundation.

Murray Flanigan CPA, CA, CFA – Director

Mr. Flanigan is a management consultant providing financial advisory services to a number of public and private oil and gas, mining and technology companies in North America and abroad. Mr. Flanigan is a Chartered Accountant and a Chartered Financial Analyst with expertise in corporate finance, mergers and acquisitions, international taxation, risk management, banking, treasury, corporate restructuring and accounting, and has served as Chief Financial Officer for various public and private companies. Mr. Flanigan is currently a Managing Principal of Kepis & Pobe Financial Group Inc. and a key member of its executive management team responsible for the negotiation and closing of numerous recent large scale oil & gas transactions in West Africa, offshore Guyana and the Middle East. Prior to founding his own consulting company, Mr. Flanigan served as Senior Vice President, Corporate Development and CFO of Qwest Investment Management Corp., where he was responsible for regulatory reporting and corporate filings for over 15 private and publicly listed companies and limited partnerships in Qwest's portfolio, as well as arranging and closing numerous equity and debt financings. Mr. Flanigan also served as VP Corporate Development for Adelphia Communications Corporation, overseeing the company's financial restructuring and ultimate sale to Time Warner Inc. and Comcast Corporation for approximately US$18 billion.

Ian Burney – Director

Mr. Burney was the Ambassador of Canada to Japan from 2016 to 2021. Mr. Burney is an accomplished, high-performing public service executive and diplomat with over 30 years of experience in international affairs, particularly in the area of global economic issues. Mr. Burney graduated in 1985 from McGill University, Montreal, with a Bachelor of Arts with honours in Political Science, and in 1986 from University of Toronto, with a Master of Arts in International Relations. Mr. Burney joined the Department of External Affairs in 1987 and has held a range of positions in Ottawa and diplomatic postings overseas.

Michael Carrick – Director

Mr. Carrick is currently Chairman of RTG Mining Inc. and has been responsible for the development of seven major gold mines in five countries around the world including the development of the largest gold mine in the Philippines. That mine was merged with B2 Gold of Canada in a US$4.5 billion merger. Mr. Carrick is a Chartered Accountant with over 30 years of experience in the resources sector. He holds a degree in Commerce from the University of Natal, and an Accounting and Finance degree from the University of the Witwatersrand, and is a member of the Institute of Chartered Accountants both in South Africa and in Australia

Tanneke Heersche – Director

Ms. Heersche is a partner in the Global Mining Group at Fasken Martineau DuMoulin LLP and is the head of the firm-wide ESG Steering Committee. Prior to Fasken, Ms. Heersche was a partner at White & Case LLP where she was co-Chair of the Global Metals & Mining Practice Group and executive managing partner of its Johannesburg office. Ms Heersche is a highly regarded expert and strategic advisor in the natural resources industry with over 25 years of international industry experience. She has a particular emphasis on project development, investment agreement negotiations and the integration of ESG into development frameworks. Ms. Heersche holds an LLB from the University of Toronto and a BSc (Physiology) and BA (German Literature) from Western University .

Ryuo Prospect Drilling Underway

Ryuo Prospect Drilling Underway

Japan Gold Commences its 2022 Exploration Programs in Hokkaido

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce the commencement of 2022 exploration programs with the start of drilling at the Ryuo prospect, located within the 100% owned Ikutahara Project in Hokkaido, Japan.

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Barrick Alliance Initial Evaluation Phase Extended

Barrick Alliance Initial Evaluation Phase Extended

 Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to provide an update on the Barrick Alliance agreement, and progress following the technical workshops held in November 2021 and January and February 2022.

Japan Gold formed a country-wide alliance with Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) ("Barrick") in February 2020 to jointly explore, develop and mine certain gold mineral properties and mining projects in Japan (the "Barrick Alliance") (see February 24, 2020, news release). As part of the agreement Barrick agreed to sole fund a 2-year Initial Evaluation Phase of each project and sole fund a subsequent 3-year Second Evaluation Phase on projects which meet Barrick criteria. Barrick has spent US$5.6 million on the Initial Evaluation Phase from the formation of the Barrick Alliance to the end of 2021.

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Japan Gold Drills 20 m @ 6.3 g/t Gold and 0.45 m @ 1,395 g/t Gold at Ryuo Prospect

Japan Gold Drills 20 m @ 6.3 g/t Gold and 0.45 m @ 1,395 g/t Gold at Ryuo Prospect

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce results from eight additional scout drill holes at the Ryuo Prospect. Drilling has continued to encounter high-grade vein intersections along an 800 m open ended strike zone, following the success of three initial scout drill holes reported in September 2021 (see Japan Gold news release September 14, 2021). The Ikutahara Project in Hokkaido, which contains the Ryuo Prospect, is 100% held by Japan Gold and is not included in the Barrick Alliance (Figure 1).

Highlights: Drill holes IKDD21-004 to IKDD21-011 all successfully intersected gold-mineralized vein structures including the following notable results (all intervals are down-hole lengths):

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Japan Gold Strengthens Board of Advisors and Management Team

Japan Gold Strengthens Board of Advisors and Management Team

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce the appointment of Mr. Toru Tokuhisa to the Board of Advisors and Mr. Yoshio Nojima as the General Manager of Business Administration.

Mr. Toru Tokuhisa

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ian burney

Ian Burney, Michael Carrick and Tanneke Heersche Join the Japan Gold Board at the 2021 AGM, Revised Date for Investors Webinar

Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce that at its annual general meeting held on October 21, 2021 (the "AGM"), all nominees listed in its management information circular dated September 13, 2021 were elected as independent directors of the Company. Ian Burney, Michael Carrick and Tanneke Heersche have joined the Board of Directors.

Ian Burney

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Steppe Gold Announces Q1 2022 Financial Results

Steppe Gold Announces Q1 2022 Financial Results

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce its financial results for the three months ended March 31, 2022, following recent positive operational updates.

First Quarter Highlights (all figures in US$000's unless stated otherwise)

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Silver Hammer Announces Up to $3,000,000 Private Placement Led by Echelon Wealth Partners

Silver Hammer Announces Up to $3,000,000 Private Placement Led by Echelon Wealth Partners

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CSE: HAMROTCQB: HAMRF) Silver Hammer Mining Corp. (the " Company " or " Silver Hammer ") is pleased to announce its intention to complete a brokered private placement on a commercially reasonable efforts basis for gross proceeds of up to approximately C$3,000,000 (the " Offering "). The Offering will be led by Echelon Wealth Partners Inc. as lead agent and sole bookrunner (the " Agent ").

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Lahontan Engages Independent Trading Group as Market-Maker

Lahontan Engages Independent Trading Group as Market-Maker

Lahontan Gold Corp. (formerly, 1246765 B.C. Ltd.) (the "Company" or "Lahontan" ) is pleased to announce that it has entered into a market-making agreement (the "Agreement") with Independent Trading Group ("ITG"), pursuant to which ITG has agreed to provide market-making services to the Company in accordance with the policies of the TSX Venture Exchange (the " Exchange or TSX.V ") and applicable laws

ITG will trade shares of the Company on the TSX.V and other available trading venues with the objective of maintaining a reasonable market and improving liquidity for the Company's common shares.

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Graycliff Exploration Intersects 5 Metres of Gold Mineralization Grading 6.23 g/t at Shakespeare Project, Ontario

Graycliff Exploration Intersects 5 Metres of Gold Mineralization Grading 6.23 g/t at Shakespeare Project, Ontario

Graycliff Exploration Limited (the "Company" or "Graycliff") (CSE:GRAY)(OTCQB:GRYCF)(FSE:GE0) is pleased to release a new batch of assay results from drilling the Phase Three drilling program at its Shakespeare Gold Project located on the Canadian Shield near Sudbury, Ontario. Phase Three (see press release dated June 3, 2021) focused on expanding on the extent of gold mineralization proximal to the historic Miller Shaft where initial gold mining took place more than 100 years ago

Drill Hole J-36 intersected 6.23 grams per tonne of gold ("g/t Au") over 5.00 metres ("m"), including 14.30 g/t Au over 1.00 m. Results continue to show strong gold mineralization extending from surface to the current limit of drilling at depth. Significant intervals for Holes J-34 to J-39 are detailed below.

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Gold Bull Resources

Gold Bull completes sale of non-core Bulgarian assets

Gold Bull Resources Corp. (TSX-V: GBRC) (" Gold Bull " or the " Company ") is pleased to report that it has completed the sale of its wholly-owned subsidiary, Zelenrok EOOD (" Zelenrok "), to Raiden Resources Limited (" Raiden ") (ASX - RDN). Zelenrok holds the rights to the Zlatusha and Kalabak projects, as well as an additional mineral application, Draka, located in Bulgaria.

Highlights:

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GCM Mining Declares June 15, 2022 Monthly Dividend

GCM Mining Declares June 15, 2022 Monthly Dividend

GCM Mining Corp. ("GCM Mining" or the "Company") (TSX: GCM, OTCQX: TPRFF) announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on June 15, 2022 to shareholders of record as of the close of business on May 31, 2022.

About GCM Mining Corp.

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