HighGold Mining Acquires Three Additional Gold Properties at Munro-Croesus Project, Timmins Region, Ontario

Rhea-AI Summary

HighGold Mining Inc. (TSX-V: HIGH, OTCQX: HGGOF) has announced the acquisition of three mineral properties surrounding its Munro-Croesus Gold Project in Ontario. This acquisition is part of the Company's strategy to consolidate claims in the region, now expanding to approximately 32 km². The deal involves cash payments of CAD$200,000 and USD$150,000, along with 60,000 shares issued to the vendors. HighGold continues to strengthen its position in the Timmins gold camp, known for its high-grade mineralization, as part of its commitment to shareholder value.

Positive

• Acquisition expands Munro-Croesus Project area to approximately 32 km².
• Part of a strategy to consolidate claims, strengthening HighGold's position in the Timmins region.
• Cumulative property acquisitions have increased project area ten-fold in one year.

Negative

• None.

HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) announces the acquisition of three mineral properties (collectively, the “Acquisitions”) surrounding the Company’s Munro-Croesus Gold Project (“Munro-Croesus” or the “Project”) located in the greater Timmins region, Ontario. The Acquisitions are part of an ongoing effort by the Company to assemble and consolidate claims at Munro-Croesus (see news release dated December 14, 2020) that is now up to 32 km² (3187 ha) in size. The Project is adjacent to Highway 101 in the heart of the Abitibi greenstone belt, Canada’s premier gold mining jurisdiction with over 200 million ounces of historical gold production.

“In the past year we have completed 10 separate property acquisitions surrounding Munro-Croesus for a ten-fold increase in the size of the Project area,” commented President and CEO Darwin Green. “The continuing assembly and consolidation of these claims has allowed HighGold to establish one of the dominant land holdings in this highly prospective and productive region of the greater Timmins gold camp.”

Deal Terms

HighGold, through its wholly owned subsidiary, entered three separate agreements (the “Agreements”) with various arm's length vendors (the “Vendors”) to acquire an aggregate of 12 single-cell mining claims, three patented mining claims, one leasehold property consisting of four mining claims covering a total area of approximately 4 km² (398 ha) in the Timmins region, Ontario (collectively, the “Acquired Properties”). In consideration of the Acquisitions and subject to TSX Venture Exchange (the “TSXV”) acceptance, as applicable, the Company has made, or agreed to make, cash payments in the aggregate amount of CAD$200,000 and USD$150,000 to the Vendors and issued an aggregate of 60,000 common shares of the Company to the Vendors. Pursuant to the Agreements, the Acquired Properties are subject to certain net smelter returns royalties, a portion of which royalties may be purchased back by the Company.

About HighGold

HighGold is a 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 accessible Southcentral Alaska, USA that contains an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent (AuEq) for 750,000 ounces AuEq and an additional Inferred Resource of 0.58 Mt grading 7.16 g/t gold equivalent for 134,000 ounces AuEq (see Technical Report titled “Initial Mineral Resource Estimate for the Johnson Tract Project, Alaska” dated June 15, 2020) 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 Golden Perimeter 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.

On Behalf of HighGold Mining Inc.

“Darwin Green”

President & CEO

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

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 Acquisitions, the Company’s anticipated exploration plans and the timing of future activities of the Company 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 anticipa

FAQ

What are the details of HighGold's recent acquisitions?

HighGold has acquired three mineral properties covering approximately 4 km² as part of its Munro-Croesus Gold Project expansion, involving payments of CAD$200,000 and USD$150,000.

How will the acquisition affect HighGold's position in the gold market?

The acquisitions strengthen HighGold's claims in the highly prospective Timmins gold camp, potentially leading to increased exploration and development opportunities.

What is the size of HighGold's Munro-Croesus Gold Project after the acquisitions?

After the acquisitions, the Munro-Croesus Gold Project expands to approximately 32 km².

How many property acquisitions has HighGold completed in the last year?

HighGold has completed 10 separate property acquisitions surrounding the Munro-Croesus in the past year.

What strategic importance do the recent acquisitions hold for HighGold?

The acquisitions are part of HighGold's ongoing strategy to consolidate land and resources in a region known for substantial historical gold production.