Upcoming Drill Program Preparation Has Commenced At Iron Butte

VANCOUVER - Angold Resources Ltd. has commenced preparation work for its upcoming drill program at Iron Butte, Nevada. Drill targets are the result of detailed coincident surface sampling, historic drilling, mapping and geophysical anomalies completed over 2021. Planned drilling will target coincident geochemical-geophysical anomalies in the newly staked Northern Extension Zone, lateral and depth extensions to Red Ridge and North Zone mineralization and targets in the lower plate of the Golconda Thrust, comprised of interpreted structural and disseminated targets.

With these new insights the Company has extended new drill targets along the range-front along a strike of over 6 km from the Red Ridge Zone through to the Northern Extension Zone. The Company is preparing pads and roadwork to commence drilling imminently. Phase One drilling will be comprised of 5 holes, totaling 2,926 meters and may be expanded to 9 holes, totaling 5,502 meters upon exploration success.

Multiple Targets include the Northern Extension Area as well as open mineralization along strike to the north and south of the historic resource area. Drilling is focused on expansion of known mineralized zones. Higher Grade near paleosurface (shallow) level of exposure within the epithermal system and potential for higher grade gold mineralization at depth. Large Mineralized Strike of approximately >6 km in length, with consistent gold mineralization along the entirety of the range front on the Company's claims. Geophysics has identified shallow structures in the Northern Area Extension as well as at depth in the historic resource area. Geochemistry coincident Au-Ag-Hg-Se-As anomalies extend north of known mineralization for 1.2km, at which point anomalous rocks become covered by relatively shallow surface gravels. Iron Butte boasts an historic resource of 606,186 oz Au at 0.62 g/t (not 43-101 compliant) with multiple opportunities for expansion.

CEO, Adrian Rothwell, said, "With historically long intercepts and excellent grades, a deep, intact oxide zone, as well as a total 2,210 hectares of prospective ground and new results demonstrating mineralized structures up to ~30m thick, Iron Butte continues to exhibit evidence of a large system. Excellent potential exists to increase the size of the deposit and historic resource with infill, lateral and deeper drilling."