SODANKYLA - FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)('FireFox' or the 'Company') is pleased to announce results for the first four diamond core holes from the phase 5 drilling program at the Company's 100%-held Mustajarvi Gold Project.

This round of drilling included three holes in the same section of the Northeast Target from which bonanza-grade gold was previously reported and one hole at the East Target. All four holes returned significant gold assays (grades exceeding 3.0 g/t). The new hole in the East Target was especially interesting as it represents a step-out of more than 100 metres (m) from the nearest drilling, over 750m from the high-grades in the Northeast Target, and approximately 1.6 kilometers from the Central Zone. Two additional holes from the Northeast Target at Mustajarvi are awaiting results.

HIGHLIGHTS OF THE PHASE 5 DRILLING

Drill hole 21MJ014 confirmed the presence of the bonanza grade zone at the Northeast Target by intercepting 1.5m at 45.85 g/t Au from 168.5m depth, including 0.5m at 130.5 g/t Au - total grade-thickness of gold mineralization at 102 gram-metres

Drill hole 21MJ013 extended the bonanza grade zone with an intercept of 0.75m of 41.46 g/t Au from 157.15m depth

Confirmed the presence of at least one additional gold-bearing vein system in the Northeast Target dipping north, as opposed to the prevailing south dip of the veins reported to date

The first intercept of high-grade mineralization in the East Target in drill hole 21MJ015, with 1.0m at 11.04 g/t Au from 51.8m depth, including 0.6m at 14.8 g/t Au

Carl Lofberg, President and CEO of FireFox, commented, 'We are very pleased with the work by our technical team to unravel the complex structural controls on the high-grade gold at the Northeast Target. Their initiative has resulted in more bonanza grade intercepts and clear direction on where to drill next. The shallow high-grade intercepts at the East Target may be even more significant as that drill hole extends the Mustajarvi system to more than 1.6km of strike with gold intercepts of greater than 10 g/t. Mustajarvi is only one of four permitted FireFox projects in Lapland, but we are reaping the benefits of what we learn here in our drilling elsewhere.'

Mustajarvi Project and Drill Program Details

The Mustajarvi Project lies along the highway between the cities of Kittila and Sodankyla, approximately 17 kilometers east of Kittila. The property straddles the Mustajarvi Shear Zone (MSZ), a major right-lateral shear zone that has associated second and third-order structures that further dissect the project into separate structural zones. The Sodankyla Group rocks, which are primarily to the north of the shear zone in the footwall, include metamorphosed sedimentary and volcaniclastic rocks. Geophysics and drilling have identified an extensive corridor of albite - sericite alteration in the footwall along more than two kilometers of the structure. The project remains at an early stage as FireFox and predecessor companies have only drilled approximately 8,700 metres to date.

FireFox's structural model identified repetitive dilatant zones along the MSZ where vein swarms and higher-grade gold are concentrated. Three main areas of gold mineralization have been identified along a 2.1-kilometre segment of the MSZ, namely the Central Zone, the Northeast Target, and the East Target. The Central Zone and Northeast Target both host bonanza grade gold associated with clusters of veins in the footwall of the shear zone and are separated by more than 500 metres. The Northeast Target hosts the best drill intercepts to date including phase 4 holes 21MJ001 and 21MJ010, which both returned high-grade intervals equivalent to approximately 150 gram-metres of gold (expressed as gold grade thickness of mineralization). The East Target was first identified in the phase 4 drill program when two holes were drilled based on the new structural model, and both intersected modest shallow gold-mineralized intervals.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 where it holds a huge portfolio of prospective ground.

Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.

Contact:

Tel: +1-778-244-8439

Email: info@firefoxgold.com

Forward Looking Statements

The information herein contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include changes in world commodity markets, equity markets, the extent of work stoppage and economic impacts that may result from the COVID 19 virus, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry.

Forward-looking statements in this release may include statements regarding: the intent to conduct additional drilling; the belief as to the location of the most prospective gold targets; the location of targets for future drill programs and the current and future work program, including the extent and nature of exploration to be conducted in 2022. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary.

The forward-looking statements contained herein represent the expectations of FireFox as of the date of dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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