Johnson Tract Project Exploration And Development Program

VANCOUVER - HighGold Mining Inc. reported on the exploration and development program including final drill results at the Johnson Tract polymetallic Gold Project (JT) in Southcentral Alaska. The Project hosts the high-grade JT Deposit with an Indicated Resource of 1.05 Moz at 9.39 g/t gold equivalent (AuEq) with average true thickness of 40m. Following completion of the spin-out of Onyx Gold Corp. this summer, HighGold squarely focused on unlocking value at the high-grade JT Deposit. In parallel with exploration drilling to expand existing deposits and target new prospects, the Company launched on a major program of advanced exploration and de-risking activities to support the evaluation of a potential high-grade, low-impact, underground mine.

Initiation of preliminary scoping work to evaluate conceptual direct-shipping-ore (DSO) scenarios that offer the potential for a nearer term, lower capital cost and enhanced environmental benefit production scenario. Completion of a comprehensive work program to support the permitting of an underground exploration ramp, including six (6) hydrogeology-geotechnical drill holes, related hydrogeology test work, engineering, and multiple environmental and cultural studies. Infill drilling yields thick, high-grade mineralization typical of the JT Deposit in hole GT23-004: 56.6 meters at 7.8 g/t AuEq, including 33.6 m at 12.1 g/t AuEq, and 4.9 m at 34.9 g/t AuEq. Narrow high-grade and broad low-grade mineralization intersected in 2023 step-outs at Ellis Zone: 2.2 m at 57.0 g/t AuEq previously reported in hole DC23-070; 1.4 m at 11.6 g/t AuEq in hole DC23-071; 47.1 m at 0.7 g/t AuEq in hole DC23-087; and 64.1 m at 0.7 g/t AuEq in hole DC23-088. Encouraging new zones of veining and JT-style alteration intersected in first pass drilling of new prospect areas, warranting additional follow-up in 2024

Darwin Green, President & CEO, said, “We had a busy and productive field season this year. "We completed a significant drill program aimed at expanding existing zones and targeting new discoveries. Results from the drill program are encouraging and will serve to inform ongoing drill planning and targeting as we continue to evaluate the multi-deposit potential of the Project. Infill hole GT23-004 is a reminder of the exceptional width and grade that characterizes the JT Deposit.

Thick, high-grade deposits in desirable jurisdictions with a path to relatively rapid and cost-efficient development are a rare prize in the mining sector. In conjunction with our drilling efforts, HighGold has also turned to assessing the development potential for the JT Deposit and demonstrating the intrinsic value of the Project. One such opportunity being evaluated is the potential development of a DSO mining operation, whereby mineralized material would be mined and transported via marine vessel to an existing mill off site. Another major step to advancing the Project is advancing the permitting and development of an underground exploration ramp. The Company is well capitalized to continue advancing these important value-added activities through 2024 and beyond."