Updated Mineral Resource Estimate For The Johnson Tract Project

VANCOUVER - HighGold Mining Inc. announced an updated NI43-101 mineral resource estimate (MRE) for the Johnson Tract Deposit (JT Deposit) at the Johnson Tract polymetallic Gold Project located in coastal Southcentral Alaska. The updated MRE is based on new diamond drilling completed by the Company in the second half of 2020 and 2021.

JT Deposit Mineral Resource Highlights: Updated Indicated Resource – 3.49 million tonnes (“Mt”) grading 9.39 g/t gold equivalent (“AuEq”) for 1,053,000 oz AuEq; Updated Inferred Resource – 0.71 Mt grading 4.76 g/t AuEq for 108,000 oz AuEq; Growth – 40% increase in Indicated AuEq ounces and 54% increase in total tonnes (+60% Ind and -19% Inf) over the 2020 MRE; High Confidence – 91% of the total AuEq ounces in the Indicated Resource Category; Peer-Leading Thickness – Indicated resource averages 40-meter horizontal width, roughly 10 times the mineable width of most high-grade (+5 g/t) underground gold deposits; Ideal Geometry for Low-Cost Methods of Underground Mining – thick, subvertical deposit with potential for lateral development from the valley floor to access the deepest and highest-grade portions of the deposit first and for gravity-assisted, bottom-up mining; Excellent Metallurgy – high metal recoveries, including global gold recovery up to 97%, utilizing conventional processing at a coarse grind size; and Expansion Potential – open to expansion along strike/down-dip/down-plunge with numerous high-priority property-wide targets including the Difficult Creek (“DC”) and Milkbone prospects.

“We are delighted to establish a high-grade Indicated Resource of more than 1 million ounces gold equivalent at Johnson Tract,” said, CEO Darwin Green. “The JT Deposit stands well above the crowd for grade, thickness, and a geometry which will enable lower-cost mining. It also benefits from being close to tidewater with CIRI Alaska Native Corporation land title and strategic energy metal co-products. In concert with recent metallurgical results, this new resource provides an excellent foundation for future engineering and economic studies. Meanwhile, with drills back turning on the Project, we look forward to continuing to expand the JT Deposit and test several other targets in the extensive exploration pipeline at Johnson Tract, including the exciting high-grade DC and Milkbone prospects.”