Start Of 8,000 Meter Drill Program At Johnson Tract Project

VANCOUVER - HighGold Mining Inc. announced the start of the 2023 exploration program at the Johnson Tract polymetallic Gold Project in Southcentral Alaska. The Project hosts the high-grade JT Deposit with a 1.05 Moz indicated resource at 9.39 g/t gold equivalent ("AuEq"). The 2023 Program plans for an 8,000 meter, two rig drill program in addition to engineering, hydrogeology and environmental studies to support permitting an underground exploration ramp as part of a multi-year 'advanced exploration' plan. Crews are now on site at the Project with drilling to commence imminently.

"With the spinout of Onyx Gold now complete, we look forward to focusing on HighGold's resources to advance the Johnson Tract Project and realize the full potential of this high-quality asset," said Darwin Green, President and CEO. "The 21,000-acre Project hosts the JT Deposit, which has the rare and attractive combination of high-grade (9.4 g/t AuEq) and exceptional width (averaging 40-meters) and has demonstrated the potential to become a multi-deposit district with the recent Ellis Zone discovery located 4 km to the northeast. Results from the Ellis Zone have been very encouraging (e.g. 6.4m at 599.4 g/t AuEq and 11.9m at 25.3 g/t AuEq*) and we are excited to be back drilling this new discovery that is open to expansion in multiple directions. Our plans include significant exploration drilling to grow the property-wide mineral resource base and to continue testing new targets that are ripe for new discoveries.

In parallel with ongoing exploration drilling, we have outlined an advanced exploration plan designed to support future underground drilling, engineering and economic studies. Step one of this plan is to establish an expanded airstrip for larger aircraft and to build a 2.6-mile (4 km) road connecting the airstrip and camp to a proposed portal site for which permitting is now underway. Step two consists of developing an underground exploration ramp to support both detailed definition drilling of the JT Deposit and exploration drilling for mineralization to depth and along trend. Plans are to initiate permitting of the exploration ramp in early 2024 after completing additional studies and design work this year."

The objective of the 2023 drill program is to expand the known zones of mineralization at the Ellis Zone and JT Deposit and to test new high-potential target areas. Key drill targets include: 1) Ellis Zone expansion - Follow-up expansion drilling on 50 to 100-meter centers on the high-grade Au-Ag-Zn-Pb (+Cu) structurally controlled vein and breccia zone. The Ellis Zone shows similarities to the JT Deposit and remains open in multiple directions. 2) East Difficult Creek (Ellis Zone Regional) - A new interpretation suggests that the mineralized system hosting the Ellis Zone is large and continues north and east under cover, and across syn-mineralization faults. Drilling will test offset and geophysical targets under overburden cover towards the East Difficult Creek prospect. 3) JT Deposit - A significant east-west cross-fault has been identified south of the JT Deposit as the result of drilling and interpretative work completed in 2022. Drilling will test the continuation of the known mineralization to the south across this fault. 4) South Valley Target (JT Deposit South) - A blind target under overburden cover located 1 km (1/2 mile) along strike to the south of the JT Deposit. Drilling will test a geophysical anomaly that shares a similar signature to the JT Deposit. Anhydrite alteration, a key alteration type surrounding the JT Deposit, borders the South Valley target.

In addition to drilling, the 2023 exploration program will include geological mapping, prospecting, and soil & rock sampling programs to follow-up and expand on the positive results generated from the 2022 program and refine new drill targets.

A multi-year advanced exploration plan has been developed for the Johnson Tract project designed to de-risk the JT Project and support future engineering, environmental and economic studies that evaluate the potential for a small footprint, high-grade underground mine. A key component of this plan is to establish an exploration ramp for year-round drilling from underground. The exploration ramp will provide lateral underground access from a proposed portal site located at the base of the mountain to an area immediately adjacent the lowermost portions of the currently defined JT Deposit. The ramp will parallel the trend of mineralization and provide an ideal platform for drilling to both grow the resource and to conduct cost-effective tightly spaced definition drilling of the deepest and highest-grade portions of the JT Deposit. The exploration ramp and all related surface infrastructure including airstrip, camp and 2.6-mile (4 km) access road are located on private lands owned by Cook Inlet Region, Inc., an Alaska Native regional corporation.