Golden Sky Project Update

Angus Gold is pleased to announce an update on exploration activity at its wholly-owned Golden Sky Project in Wawa, Ontario. In 2022, we will successfully complete drilling campaigns totalling approximately 42 boreholes 9,500 A meter focused on multiple gold targets along the Dorset Deformation Zone and Banded Iron Formation. Based on the promising visual results, over the summer the company mobilized a second drill to accelerate the program. To further elaborate on the two new gold discoveries announced earlier this year, the first drill rig mobilized at the BIF target tested the new targets along a 7-kilometre strike length. A second drill rig tracked high-grade gold mineralization at the Dorset deformation zone and tested multiple high-priority gold targets along the deformation zone.

Angus CEO Steve Burleton said: Based on encouraging visual results, we will further delineate the Gold Zones identified in 2021 and 2022, and in 2023 to test the exciting new areas developed during the 2022 fieldwork. We are already planning a large drilling program. The turnaround time for the assay was slow, but we will begin receiving drilling results in November and will release them as they become available.”

Angus has also completed an extensive regional exploration program that includes exploration and geochemical sampling operations. This created two new areas of focus for further investigation. The first is located along an interpreted stretch of the Eagle River deformation zone, less than 2 kilometres north of Wesdome Gold Mines Limited’s operating Eagle River mine, where 5 g/t Surface samples over Au have been collected. Ground geophysical surveys are currently being conducted for this exploration target. The second region is within the Misibisu deformation zone, which hosts the Mishi and Magnacon deposits. Anomalous geochemical samples were collected in the region during a summer field program, with follow-up work planned for 2023. In addition to these two regions, geophysical surveys are currently underway to cover further BIFs located to the east and west of the current focal region.

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