Angus Gold Completes Obligations and Acquires 100% interest in Mishi Property

Angus Gold Inc. is pleased to announce it has completed all the earn-in obligations and exercised its option to acquire 100% interest in the Mishi Property (the “Mishi Option Agreement”) from IAMGOLD Corporation, part of the Golden Sky Project. Under the amended terms of the Mishi Option Agreement dated January 24, 2023, Angus shall issue 700,000 shares to IAMGOLD, subject to the receipt of all regulatory approvals including the approval of the TSX Venture Exchange. The common shares issued have a statutory hold period of four months and one day from the date of issuance.

The Golden Sky Project
The 100%-owned Golden Sky Project is located within the Mishibishu Lake Greenstone Belt of Northern Ontario, which is host to the high-grade Eagle River and the Mishi open-pit gold mines of Wesdome Gold Mines Ltd. (“Wesdome”). The Company’s 267-square-kilometre land package is located approximately 50 kilometres west of the town of Wawa and is situated immediately between the two Wesdome mines. The project is host to the near-surface Dorset Gold Zone, which contains a historic estimated resource (using a 0.50 g/t Au cut-off) consisting of an indicated resource of 40,000 ounces of gold (780,000 tonnes grading 1.4 g/t Au), and an inferred resource of 180,000 ounces of gold (4,760,000 tonnes grading 1.2 g/t Au).