Drill Results At the Johnson Tract Polymetallic Gold Project

VANCOUVER - HighGold Mining Inc. reported results from ten (10) additional holes at its 0.75 Moz Indicated 10.9 g/t gold equivalent (AuEq) Johnson Tract polymetallic Gold Project (JT) in Southcentral Alaska. The 2021 JT exploration program was completed with 19 of 44 drill holes released to date. Drill holes are from infill and expansion drilling at the JT Deposit. Results include new mineralized intersections from: i) the upper deposit area; ii) down-plunge and down-dip extensions of the lower deposit; and iii) footwall copper zone mineralization.

“We continue to be impressed by the strength of the mineralizing system at Johnson Tract,” commented President and CEO Darwin Green. “Drill hole JT21-134 is a prime example of the exceptional width and tenor of mineralization at JT, while drill hole JT21-133, which was drilled approximately 400m down-plunge of JT21-134 and well outside the current resource, highlights both the continuity and spectrum of mineralization styles present at JT. We are looking forward to the results of our metallurgical test program which will give us the first modern metal recoveries for the Project in over 25 years and will dovetail with the mineral resource update planned for early 2022.”

Assay results include an intersection from infill drilling at the JT Deposit from hole JT21-134. It is the second of two planned infill holes designed with the dual purpose of collecting sample material to support the Phase I metallurgical testing program and also providing better definition of the upper, near-surface portion of the JT Deposit. The hole successfully intersected typical ‘JT-style’ mineralization in silicified, veined and brecciated dacite tuff over 84.7 meters from 66.3-151.0m.

The JT21-134 intersection of 84.7m at 4.7 g/t Au, 4.6% Zn, 1.6% Pb, 0.3% Cu contains higher-grade gold over much longer widths than immediately surrounding drill holes JT19-083 and JT19-087, and correlates well with down-dip hole JT19-088 which intersected 97.5m at 5.9 g/t Au, 3.9% Zn, 0.5% Cu. Collectively, the 2021 infill drill holes, which include JT21-134 and JT21-125 (56.6m at 18.7 g/t Au, 2.4% Zn, 0.5% Cu) will have a positive impact on the updated resource as both contain significantly higher gold grade than the resource blocks they tested.

The Company also reports drill results from eight (8) holes which were designed to test the along strike and down-plunge extents of the JT Deposit and related Footwall Copper Zone. Assays results from holes JT21-124, 126 to 130, 132 and 133 represent step-outs 100 to 350 meters along strike to the northeast and down-plunge from the JT Deposit mineral resource. The holes were designed to test the expansion potential of the JT Deposit on approximate 50-meter centers on 100-meter spaced cross-sections (subject to local topography). Drill hole JT21-131, also reported herein, tested a separate target located east of the JT Deposit.

The most encouraging hole, JT21-133, was drilled 200 meters down-plunge from the JT Deposit mineral resource. The hole intersected multiple discrete zones of mineralization starting at 229.0 meters downhole and continuing to 453.80 meters, all hosted within a dacite lapilli tuff, subsequently altered to massive anhydrite and locally quartz-sericite-pyrite, and cut by base metal-rich silicified and veined zones up to 10 meters in width between 324.20-326.20m, 364.40-374.4m and 444.60-453.80m. The character of the mineralization observed in this hole ranges from an Au-Zn-Pb-rich upper zone, through Zn-Pb dominant zones, to a Cu-Ag-rich footwall zone. This area remains open at depth and along strike and will be the subject of follow-up drilling in the 2022 field season. The location of holes JT21-130/132/133.

The Au-Cu-Zn-Ag-Pb mineralization associated with the JT Deposit has been defined over a total strike length of 600 meters and remains open along strike to the northeast and southwest, and at depth. The true thickness of the JT Deposit typically ranges from 20 to 50 meters.

Data compilation is underway following the completion of the 2021 Drill Program at Johnson Tract in late October. Total meterage for the Program was 16,198 meters in 44 completed drill holes. Assays results will be released on an ongoing basis pending review and meeting Company quality assurance-quality control protocols. A total of 19 drill holes have been released to date. An updated mineral resource estimate is planned for the JT Deposit in Q1-2022, following the completion and receipt of all assays from the 2021 drill program. The new mineral resource estimate will incorporate 30,000 meters of new drilling completed in 2020 and 2021 since the last estimate.