GFG Resources Inc. reported new assay results from its 2022 Phase 1 drill program at the Montclerg Gold Project (the Project and/or Montclerg), located 48 kilometres (km) east of the prolific Timmins Gold District in Ontario, Canada which has produced over 70 million ounces of gold. The Company's 2022 Phase 1 program was completed in April and consisted of 4,200 m and 17 drill holes testing multiple targets along the Montclerg gold system. To date, the Company has announced assays results from 12 holes and expects to announce the remaining five holes in the coming weeks.

Today's assay results from the MC Central and step-out drilling to the east confirmed the continuity and robust character of the gold mineralization at Montclerg. Infill drilling in the MC Central zone returned the broadest interval drilled by GFG to date of 1.60 g/t Au over 70.4 m and is interpreted to relate to a thickened section of the Upper and Lower Main zones. Step-out drilling validated the Company's thesis that gold mineralization extends to the east by successfully intersecting gold mineralization 530 m east of the MC Central zone.

In the second half of 2022, GFG plans to drill an additional 4,000 - 6,000 m at Montclerg and has initiated a significant regional exploration program focused at its Montclerg and Goldarm properties that includes geophysics, till sampling, prospecting and mapping. Drill intercepts are presented using a 0.20 g/t Au cut-off and as drilled length. Composites include internal dilution of up to 3 m at grades less than 0.2 g/t Au. True width is estimated to be 50 to 90% of drilled length. Best Main Zone drill intercept to date at Montclerg from hole MTC-22-023 intersecting 1.60 grams of gold per tonne (“g/t Au”) over 70.4 metres (“m”) near surface. A second gold zone was intersected in hole MTC-22-023 returning 4.97 g/t Au over 4.8 m. Infill hole MTC-22-021 intersected 1.51 g/t Au over 21.7 m and ended in mineralization.

Significant step-out drilling demonstrates the Montclerg gold system continues for 530 m east and remains open, with assays up to 1.4 m at 3.0 g/t Au. In 2022, the Company plans to complete approximately 8,000 - 10,000 m of drilling and a significant surface regional exploration program has been initiated. The remaining five drill holes from the Phase 1 2022 program are currently being processed and the Company expects to report these results in the coming weeks.

For the remainder of 2022, the Company plans to complete an additional 4,000 - 6,000 m of drilling at the Montclerg Gold Project and has initiated its regional exploration programs and drill target development across the Goldarm Property. The regional surface programs include airborne geophysics, sonic and conventional till sampling programs, prospecting, mapping and data compilation. To aid in the Company's surface programs, GFG has also partnered with Metal Earth to drive a variety of regional initiatives designed to better understand the belt scale architecture and gold potential of the Pipestone Deformation Zone where the Company's hold over 200 square km.

Following the successful initial metallurgical test work that exceeded recovery rate expectations at the Rattlesnake Hills Gold Project (RSH Project), the Company's option partner, Group 11 Technologies Inc. (Group 11), will proceed to conduct further in-situ recovery analyses and data review. The technical review will further assess the amenability and recovery rates for extracting gold using an eco-friendly water-based solution. Next steps to advance the RSH Project in H2 2022 are to include additional laboratory tests, large diameter drill testing and related project permitting.

A more detailed update on activities at Rattlesnake Hills will be provided as they are available.