HighGold Mining Files NI 43-101 Technical Report for the Updated Mineral Resource Estimate for its Johnson Tract Project, Southcentral Alaska

Rhea-AI Summary

HighGold Mining Inc. has filed an independent Technical Report for its Johnson Tract Gold Project in Alaska, complying with NI 43-101 standards. The report, effective July 12, 2022, indicates an Indicated Resource of 3.49 million tonnes grading 9.39 g/t gold equivalent, totaling 1,053,000 ounces AuEq, alongside an Inferred Resource of 0.71 million tonnes at 4.76 g/t AuEq, or 108,000 ounces AuEq. This highlights the project's substantial exploration potential and positions HighGold as a notable player in the North American gold market.

Positive

• Indicated Resource of 3.49 million tonnes grading 9.39 g/t gold equivalent, totaling 1,053,000 ounces AuEq.
• Inferred Resource of 0.71 million tonnes grading 4.76 g/t gold equivalent for 108,000 ounces AuEq.
• Substantial exploration potential indicated by several other prospects over a 12-kilometer strike length.

Negative

• None.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) announces the filing of an independent Technical Report in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) on its Johnson Tract Gold Project in Southcentral Alaska. The Technical Report, titled “Updated Mineral Resource Estimate and NI 43-101 Technical Report for the Johnson Tract Project, Alaska,” dated August 25, 2022 (effective date of July 12, 2022) has been prepared by Ray C. Brown, CPG of Oriented Targeting Solutions LLC, James N. Gray, P.Geo. of Advantage Geoservices Ltd. and Lyn Jones, P.Eng. of Blue Coast Research, and is available on SEDAR (www.sedar.com) under HighGold’s issuer profile.

About HighGold and the Johnson Tract Project

HighGold is a well-funded mineral exploration company focused on high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in Southcentral Alaska, USA that contains an Indicated Resource of 3.49 Mt grading 9.39 g/t gold equivalent* (AuEq) for 1,053,000 ounces AuEq and an additional Inferred Resource of 0.71 Mt grading 4.76 g/t gold equivalent for 108,000 ounces AuEq (see Technical Report titled “Updated Mineral Resource Estimate and NI 43-101 Technical Report for the Johnson Tract Project, Alaska” dated August 25, 2022) along with excellent exploration potential indicated by several other prospects over a 12-kilometer strike length.

The Company also controls a portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada that includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Timmins South properties. HighGold’s experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.

Qualified Person and Quality Assurance

Ian Cunningham-Dunlop, P.Eng., Senior VP Exploration for HighGold Mining Inc. and a qualified person (“QP”) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

On Behalf of HighGold Mining Inc.

“Darwin Green”

President & CEO

*Note – Gold Equivalent (“AuEq”) is based on assumed metal prices and payable metal recoveries of 97% for Au, 85% for Ag, 85% Cu, 72% Pb and 92% Zn from metallurgical testwork completed in 2022. AuEq equals = Au g/t + Ag g/t ×0.01 + Cu% ×1.27 + Pb% ×0.31 + Zn% ×0.59. Indicated Resource includes 3.49 Mt at 5.33 g/t Au, 6.0 g/t Ag, 0.56% Cu, 0.67% Pb, 5.21% Zn or 9.39 g/t AuEq. Inferred Resource includes 0.71 Mt at 1.36 g/t Au, 9.1 g/t Ag, 0.59% Cu, 0.30% Pb, 4.18% Zn or 4.76 g/t AuEq.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward looking statements: This news release includes certain “forward-looking information” within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively “forward looking statements”). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s exploration plans are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220825005656/en/

For further information, please visit the HighGold Mining Inc. website at www.highgoldmining.com, or contact:

Darwin Green, President & CEO or Naomi Nemeth, VP Investor Relations

Phone: 1-604-629-1165 or North American toll-free 1-855-629-1165

Email: information@highgoldmining.com.

Website: www.highgoldmining.com

Twitter: @HighgoldMining

Source: HighGold Mining Inc.

FAQ

What is the key finding in HighGold Mining's new Technical Report for the Johnson Tract project?

The report indicates an Indicated Resource of 3.49 million tonnes grading 9.39 g/t gold equivalent, totaling 1,053,000 ounces AuEq.

When was the Technical Report for HighGold Mining's Johnson Tract Project filed?

The Technical Report was filed on August 25, 2022, with an effective date of July 12, 2022.

Where can I find the Technical Report for HighGold Mining's Johnson Tract Project?

The report is available on SEDAR under HighGold’s issuer profile.

What does the Inferred Resource estimate signify for HighGold Mining's Johnson Tract?

The Inferred Resource stands at 0.71 million tonnes grading 4.76 g/t gold equivalent, totaling 108,000 ounces AuEq.

What exploration potential does the Johnson Tract Project have?

The project shows excellent exploration potential indicated by several other prospects over a 12-kilometer strike length.