FireFox Gold Corp. report the results from the first four holes of the spring 2023 core drilling campaign at the Company's 100%-held Mustajärvi Gold Project in Lapland, Finland. Drill holes 23MJ001, 23MJ002, 23MJ003 and 23MJ004 at the East Target all encountered several significant intervals of gold mineralization and extended the mineralization to the northwest, southwest, southeast, and downdip.

Each hole yielded assays above 10.0 g/t gold. Highlights of selected intervals includes all significant intercepts: 23MJ001: 11.95m averaging 9.69 g/t Au from 5.4 metres down hole (includes 0.3 metres of core loss); including 0.75m at 94.50 g/t Au; and 5.35m averaging 8.09 g/t Au from 37.25 metres down hole; including 0.85 m at 28.87 g/t Au. 23MJ002: 7.35 m averaging 2.40 g/t Au from 60.0 metres down hole; including 1.0 meter at 10.51 g/t Au; and 9.00 m averaging 1.06 g/Au from 103.0 metres down hole.

23MJ003: 9.50 m averaging 2.08 g/t Au from 155.5 metres down hole; 2.45 m averaging 15.22 g/t Au from 248.65 meters down hole; including 1.45m at 24.16 g/t Au. 23MJ004: 20.45 m averaging at 5.14 g/t Au from 12.0 metres down hole; including 0.75 m at 23.92 g/t Au; including 3.15 m at 13.69 g/t Au; including 0.9 m at 20.83 g/t Au; and 14.8 m averaging 6.00 g/t Au from 54.0 metres down hole; including 3.45 m at 19.43 g/t Au, which includes 1.55 m at 34.72 g/t Au. Discussion of Drill Results: The Mustajärvi Project lies along the highway between the cities of Kittilä and Sodankylä, approximately 17 kilometres east of Kittilä.

The project remains at an early stage. FireFox and predecessor companies have drilled approximately 14,158 metres, and drilling has delineated three different lodes of gold mineralization along more than 1.5 kilometres of strike so far. Due to its near-surface high-grade nature, the Company has been focusing most recently on the East Target.

As reported in the June 14, 2023 news release, the spring 2023 drilling program at Mustajärvi was focused on filling some gaps in the drilling and testing for extensions to the south, west, and southwest. These first four holes from the program have improved confidence in the high-grade core of the East Target and established control of an important fault on the south side of the deposit, which has been confirmed as mineralized. Drill holes23MJ001 and 23MJ002 were drilled along a northwest-southeast fence in an opposing scissors fashion.

The first hole was drilled at an azimuth of 320°, while the second drillhole was directed at 140°. Their drillhole traces parallel each other, approximately 15 metres apart. The holes were designed to test the western side of the shallow high-grade replacement style mineralization and probe for downdip extensions of the Riedel veins that often host high-grade gold.

This orientation of drilling cuts perpendicular to the first order structures at Mustajärvi. In this part of the property, the Mustajärvi fault zone is represented by multiple splays that trend northeast, and this direction is an important control in both replacement-style and vein hosted mineralization. In addition to infilling a gap in the geological model on the western side of the target, 23MJ001 tested for deeper vein-controlled mineralization north of the main lode.

The hole was collared in thin glacial untill sediments overlying strongly weathered intermediate tuffites. Just below the glacial sediments, the tuffites are pervasively albitized, sericitized and silicified, with fracture-controlled (secondary) kaolinite. The hole is dominantly hosted in the intermediate volcaniclastic sediments, but there are multiple mafic and ultramafic interbeds and possible dikes.

Faulting is evident in the hole, sometimes associated with zones of high pyrite, and mylonite zones appear deeper in the hole. Pyrite, often oxidized, is abundant in the shallow portions of the hole, occurring as disseminations, patches and clots along foliations and fractures, and in veins. In the deeper portions of the hole, pyrite is most often associated with quartz-carbonate-tourmaline veins.

Gold mineralization starts immediately beneath the glacial cover at a depth of 5.4 m, where 23MJ001 cut an interval averaging 9.69 g/t Au over 11.95 m, including 37.24 g/t Au over 2.25 m. The narrower high-grade zones are usually associated with massive pyrite and faulting, but the longer interval exhibits clear evidence of gold accompanying the albite-silica-sericite-pyrite replacement. As is commonly seen at Mustajärvi, early albite appears to make the rock brittle and the gold mineralization enters later either with massive silica and pyrite or in crosscutting brittle veins. In these shallow intercepts, gold may be enriched by the process of oxidation, but this has yet to be confirmed as high-grades carry into primary sulphide-bearing intervals.

There is additional high-grade mineralization sporadically down hole to 51 m depth, with an additional wider zone starting at 37.25 m that averaged 8.09 g/t Au over 5.35m. Numerous mylonite zones in the hole are mineralized, such as a 0.8m sample from 171m depth, which contained 1.23 g/t Au. Drill hole 23MJ002 is the northernmost collar to date at the East Target.

This hole was designed to undercut the near-surface replacement-style mineralization and test its western downdip continuation. The hole passed through a more monotonous sequence of intermediate tuffites, which is cut by numerous faults and veins, but mafic rocks were much less abundant than in 23MJ001. The hole encountered 21 individual mineralized samples above the cutoff grade of 0.5 g/t Au between 33.0 and 127.0 metres depth.

From 60.0 m depth, there is a 7.35 m interval averaging 2.40 g/t Au, including 1.0 m at 10.51 g/t, which is associated with vein breccias and mylonite. There is also deeper lower-grade mineralization, as is commonly seen south of the heart of the system.