Precious Metals

Adds Technical Advisory Team

Cross River Ventures Corp. (CSE: CRVC) (FSE: C6R) (the "Company" or "Cross River") is pleased to announce the appointment of Lori Paslawski, MSc, to the position of Exploration Manager.

Lori Paslawski, MSc, is an economic geologist specialized in field-based exploration for base and precious metal deposits. Her expertise includes three-dimensional lithological/structural/ore deposit modeling, project evaluation and grassroots through in-mine exploration targeting. She has worked in VMS, epithermal Au, orogenic Au and structurally-controlled Ag-Zn-Pb districts, and was instrumental in the target generation, delineation and expansion of the Shovelnose gold discovery (Westhaven Gold Corp). Lori completed her MSc at St. Francis Xavier University, where she worked on the Rio Tinto VMS district (Spain), and she is currently a Project Geologist with Vector Geological Solutions Inc.

"Cross River controls an impressive portfolio of high quality exploration projects with excellent upside exploration potential," said Ms. Paslawski. "I am very excited about the opportunity to work alongside the skilled technical team to enhance value through our systematic exploration and discovery approach," continued Ms. Paslawski.

Technical Advisory Team

The Company is also pleased to announce the formation of a Technical Advisory Team that will work in conjunction with Ms. Paslawski to provide guidance and to help oversee exploration efforts on the newly acquired Northern Dominion Metals ("NDM") project portfolio, located in Northwestern Ontario, Canada.

On November 6, 2020, the Company announced the acquisition of Northern Dominion Metals Corp., a privately-held mineral exploration company which held the rights to acquire interests in a series of gold exploration projects located in Northwestern Ontario, Canada. The projects are situated within the highly gold endowed Archean Superior Province of Ontario and include significant land positions in two key greenstone belts: the Lang Lake and Uchi belts. In total, the eight projects represent over 17,000 hectares of highly prospective gold exploration ground in and among established and productive gold belts.

The projects in the NDM portfolio, and the subsequent McVicar East acquisition (see Company news release dated November 12, 2020), were specifically targeted for large upside discovery potential. All of the rights to acquire interests in these projects were originally acquired from a company controlled by Perry English, vendor of the Dixie Lake project to Great Bear Resources, which became one of the most high-profile gold discoveries in recent years. Other vendors included Gravel Ridge Resources Ltd. (Lang Lake, McVicar), and Bounty Gold Corp. (McVicar).

The Cross River Technical Team consists of Dr. Rob Carpenter, PhD, Dr. Alan Wainwright, PhD, and Daniel MacNeil, MSc.

Dr. Carpenter is a Professional Geoscientist (P.Geo.) with more than 30 plus years of corporate and technical mineral exploration experience. He has founded and played key roles in several successful junior mining companies including Kaminak Gold Corporation. He led the Kaminak team as CEO from inception in 2005 through acquisition, discovery, and maiden resource calculation of the multi-million-ounce Coffee Gold Project, Yukon. Kaminak was acquired by Goldcorp in 2016 for over $500 million.

Dr. Wainwright is an economic geologist with 20+ years of mineral exploration and research experience in North America, South America, Europe, and Asia, focused on base metals and gold. H.H. Spud Huestis award co-recipient for the Coffee gold discovery (5 Moz Au). Dr. Wainwright completed his PhD with Ivanhoe Mines at Oyu Tolgoi (Mongolia), was research lead for the Western Tethyan Metallogeny Project (2016-2020) at MDRU and is a Fellow of the Society of Economic Geologists.

Mr. MacNeil is an economic geologist specializing in precious and base metals with over 19 years of experience from Continental scale project generation to in-mine resource expansion in a wide variety of geological settings in the Americas, Europe, Eastern Europe, and the Near East. His expertise includes project evaluation, target and opportunity identification, exploration strategy, district entry strategy, business development, strategic evaluation of geologic terranes and execution of target testing. Mr. MacNeil is the Founder of Vector Geological Solutions.

"We're very pleased to be able to add such an accomplished group to the Cross River team," said CEO Alex Klenman. "Bringing Lori on board gives us a much needed manager to drive the day to day exploration tasks. She knows the technical team very well and will work closely with them. Obviously, their knowledge, track records of discovery, and technical expertise gives us what we see as a real exploration advantage. The NW Ontario projects were handpicked by this group, and their continuing involvement provides critical exploration continuity. Our goal is significant, impactful discovery, and tapping into the collective resources of Lori and the team strengthens our ability to maximize project development," continued Mr. Klenman.

More information on the Cross River Ventures and its 10-project portfolio is available on the Company website,

About the Company

Cross River Ventures is a gold exploration company focused on the development of top tier exploration properties in premier mining districts. The Company controls a multiple project portfolio in NW Ontario, Canada, with highly prospective ground in and among prolific, gold bearing greenstone belts. The Company also owns an option to acquire a 100% undivided interest in the Tahsis Property, an early-stage gold exploration property located on Vancouver Island, in the Nanaimo Mining Division, British Columbia. Cross River's common shares trade under the symbol "CRVC" on the CSE.

On behalf of the Board of Directors of


Alex Klenman

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Canadian Securities Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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Advancing Donlin Gold to Prepare the Project for the Next Phase of Development; Robust Treasury of $132 Million in Cash and Term Deposits, with $25 Million of Receivables in 2023

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  • NOVAGOLD's strong cash position of $132 million as of August 31, 2022, with additional funds of $25 million due in July 2023 from Newmont Corporation, should be sufficient to advance Donlin Gold to a construction decision.

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