Cuprite Project Large Scale Soil and Coincidental Geophysical Anomalies Identified

VANCOUVER - Michael G. Allen, President, Chief Executive Officer of StrikePoint Gold Inc., said, "We have completed 13.5-line kilometers of Induced Polarization (IP) geophysical surveys and collected over 1,000 soil samples on the Cuprite Gold Project located in the Walker Lane Trend of Nevada, as well as detailed geological mapping. This work resulted in a 2.6 square kilometer multi-element soil anomaly, coincident with resistivity and chargeability highs and projected ground preparation by multiple structures. The Company is evaluating additional geophysical and geological work while targeting a drilling program for late 2023 or early 2024."

A total of 1,041 soil samples were collected on 17 lines spaced approximately 200 meters apart. On-line sample spacing was approximately 30 meters. Samples were collected using a hand auger at an average depth of approximately 30 cm. Results of the survey were a coherent mercury soil anomaly, coincidental with the projection of and geophysical signature of normal faults of the Stonewall Mountain Caldera, plus minor mercury anomalies possibly associated with secondary structures. Associated arsenic and antimony anomalies appear to be associated slightly outboard of the mercury anomalies suggesting the possibility of a convection cell caused by the oxidation of sulphides at depth. Individual samples ranged from 0.0009 ppm to 7.4 ppm mercury, with 12 samples registering greater than 1 ppm mercury.

In addition, the Company's on-going geological mapping at the Cuprite Gold Project has identified multiple east-west structures that project into the mercury anomaly identified from the soil sampling program. This highlights the potential of significant ground preparation for mineralizing fluids where the east-west structures intersect the hypothesised Stonewall Mountain Caldera Margin.