Angus Gold Inc. announced assay results from its 2022 drill program at the Golden Sky Project in Wawa, Ontario. Results from eight (8) holes were successful in confirming the extension of the strike length of the Dorset Gold Zone 500 metres to the east. Hole GS-22-047 intersected 1.3 g/t over 52.0 metres including 4.1 g/t over 12.0 metres, was drilled in a NE-direction, oblique to mineralization, approximately 500 metres east of the Dorset Gold resource.

The drill hole was testing a newly interpreted structural model of the Dorset Gold Zone and was successful in identifying its potential eastern extension. The hole will be used to guide ongoing exploration drilling to define the full strike length of the Au-mineralizing system at the Dorset Gold Zone. Hole GS-22-040, drilled at the eastern margin of the Dorset Gold Zone, was also successful in intersecting a thick interval of gold mineralization and returned an intercept of 1.5 g/t Au over 24.0 metres including a high-grade interval of 6.1 g/t over 2.0 metres.

The hole was designed to test the potential orientation of high-grade ore shoots within the currently defined Dorset Gold Zone, similar to that seen at the nearby Eagle River Mine of Wesdome Gold Mines. Assays from an additional 15 exploration holes that were designed to further test the potential for strike length extension to the east and west of the Dorset Gold Zone are still pending. Drilling on the Dorset Gold Zone has resumed for the winter 2023 season.

The Dorset Gold Zone contains a historic estimated resource (using a 0.50 g/t Au cut-off) consisting of an indicated resource of 40,000 ounces grading 1.4 g/t Au, and an inferred resource of 180,000 ounces grading 1.2 g/t Au. The ongoing 20,000-metre drill program focuses on two target areas within the property: the Dorset Gold Zone, which hosts a historical gold resource and the Banded Iron Formation (“BIF”) Zone, a large area of banded iron formation, and the current focus of Angus' newest gold zone discovery. The 2023 drill program at the Dorset Gold Zone was designed to test exploration targets to the east and west of the historic resource using newly interpreted structural offsets.

It was hypothesized that the Au-mineralizing system had a longer strike length than had previously been defined. Angus' high-definition magnetics survey, flown in 2020, in addition to grab samples collected during the Angus field programs were used to select drill targets for the 2023 step-out drill program. The last resource calculated on the Dorset Gold Zone was completed in 2007 and is non-NI43-101 compliant.

Holes GS22-035 and GS22-036 were drilled close to the edge of the historic resource's block model and were successful at intersecting Dorset-style mineralization. These two holes were used as vectors to plan a large-scale step-our hole, hole GS22-047. Assays from another 15 exploration holes, most of which were drilled with the goal of extending strike length of the Au-mineralizing system are pending.

Results from these holes will be used to refine the 2023 Dorset drilling program to include a resource expansion drilling program for a future mineral resource update. Hole GS-22-040 was drilled at the margin of the historic Dorset Gold Zone resource area. The hole was drilled in NE-direction, oblique to mineralization, to confirm results from 2007 while also testing potential orientations of high-grade ore shoots.

Hole GS-22-040 was successful in confirming results from historic drilling and has provided important information regarding the presence and orientation of high-grade mineralization within the Dorset Gold Zone.