MAS Gold Corp. reported the results from SRC Geoanalytical Laboratories located in Saskatoon, Saskatchewan, of an additional 7 diamond drill holes completed on its North Lake deposit in the La Ronge Gold Belt, Saskatchewan (the "Program"). MAS has now received the results from 12 holes of 34 holes drilled at the North Lake Deposit during its winter drill program.

The results from these holes show an extension of mineralization down dip of the most northern historic drill hole and an upgrade of the near surface resource at the northern extension of the deposit. North Lake Assay Results Update: As previously described in MAS Gold's April 26, 2022, news release, the Program concentrated on the Company's North Lake Deposit where 4,088.5 meters of diamond drilling was completed. In addition to the drilling at North Lake, the winter drill program included 772 meters drilled at the Point Deposit on Ramsland Lake in 4 holes, as well as 996 meters of drilling in 4 holes at its recently acquired Preview SW property.

Highlights of the results from the 7 holes at the North Lake Deposit Include: Step-back holes NL22-078 and NL22-076 show a clear extension and thickening of the felsite and mineralization to the north-east: NL22-078 (located 100m down dip from hole NL22-76 and 145m down dip from NL88-023) intersected 0.49 g/t gold over 69.9m which include 19m of 1.00 g/t Au. Infill holes NL22-091, 092 and 093 successfully intersected near-surface mineralization less than 50m below surface: NL22-091 intersected 0.96 g/t gold over 18m.; NL22-092 intersected 1.05 g/t gold over 39.3m.; NL22-093 intersected 0.87 g/t gold over 32.9m. Holes NL22-080 and NL22-082 successfully infilled a gap in the resource model by intersecting 1.33 g/t gold over 73m and 0.93 g/t gold over 42.3m.

Hole NL22-086, designed to twin historic hole NL88-022, intersected 1.06 g/t gold over 38 m. Remaining assays from the winter 2022 drilling program are expected in the upcoming weeks The Company is currently completing plans for its 2022 summer exploration program. The North Lake Deposit mineralization has been tested with 106 diamond drill holes, all of which intersected large intervals of felsite which host mineralization associated with quartz veining and minor sulphides (mainly pyrite). The mineralization occurs in several north-northeast trending, northwest dipping, branching and elongate structural zones.

The North Lake Deposit remains open both at depth and along strike. MAS Gold Corp. is modifying the total meterage of drilling previously reported in its news release dated April 26, 2022.

This change will shift the previously report meters drilled at the North Lake Deposit from 4,123.5 meters to 4,088.5 meters. Working with Axiom Exploration, its principal geological exploration consultant, MAS Gold designed and executed a vigorous quality control/quality assurance program for its 2022 winter drill program. Sample intervals were laid out with the objective of capturing homogenous lithology and not cross any significant alterations with the sample guideline of a minimum samples size of 0.50 m and a maximum sample size of 2.0 m. Samples were marked on core with assigned sample number from a pre-numbered sample tag.

These markings and stapled sample tags were placed at the start of the intervals. Drill core was cut using a core saw with a diamond bit blade using fresh flowed water to ensure no possible contamination between samples. Care was taken to ensure that the same half of the core was sampled for the entire sample interval to maintain consistency and no biases in the assay results.

MAS Gold utilized SRC laboratories in Saskatoon. All rock sample preparation conducted by SRC at their preparation facility in Saskatoon, SK. Rock samples were dried, crushed to 70% passing 1.70 mm.

A 250-gram sample is then riffle split and pulverized to 95% passing 106 microns. The pulveriser was cleaned using a silica sand wash after every samples as to avoid any potential contamination. Core analyzed by SRC was handled at their facility in Saskatoon, SK.

Core samples were analyzed for gold using FA/AA of 30g as well as multi-element ICP-MS with a four-acid digestion. Gold assays returning greater than 3 g/t (ppm) where analyzed using gold fire assay with gravimetric finish. Reject pulps are saved and stored for potential, future metallic screening or other analyses.

An independent QAQC program was conducted by inserting pulp duplicates, certified reference materials, coarse and pulp blanks. This was used to test for natural variability/sampling bias /testing the lab for homogeneity during sample preparation processes within the lab as well as testing the precision and any possible contamination from the lab. Additionally, SRC labs also includes an internal QAQC duplicate on gold analyses.