Federal Permit Received To Mine Hill-Of-Gold Satellite Deposit

VANCOUVER - West Vault Mining Inc. has received federal permit which allows mineralized material to be mined at the Hill-of-Gold satellite deposit. Mineralized material from the Hill-of-Gold property is planned to be hauled 2.5 miles for processing at the fully-permitted Three Hills Mine, which is phase one of the Hasbrouck Gold Project, immediately followed by mining at the phase two Hasbrouck Mine. A sensitivity analysis in a Pre-feasibility Study Technical Report, which does not include the Hill-of-Gold, estimates a 92% IRR at a price of $1,800 per Troy ounce of gold. The effect of adding Hill-of-Gold mineralized material is likely to be positive to the Hasbrouck Gold Project economics. See map and photo below:

Hill-of-Gold has a non-National Instrument 43-101-compliant historic resource of 43,000 gold ounces which is not included in the Technical Report on the Hasbrouck Gold Project. A qualified person has not done sufficient work to classify the Hill-of-Gold Historical Estimate as current mineral resources or mineral reserves, and the Company is not treating the Hill-of-Gold Historical Estimate as current mineral resources or mineral reserves. The Company acquired the Hill-of-Gold property in February 2021. West Vault continues to add value for long term investors seeking a low-risk/high-gold exposure investment strategy.