NewOrigin Gold Corp. has successfully completed its earn-in requirements to acquire 100% of the interest held by an affiliate of Barrick Gold Corporation (Barrick) in the Koval Property. The 28 patented claims and License of Occupation that comprise the Koval Property are located within NewOrigin's 100% owned Sky Lake Gold Project in northwestern Ontario.

NewOrigin completed a $500,000 expenditure requirement to acquire the patented Koval Property from Barrick. Work performed to earn-in included geological, geochemical and geophysical surveys. As per the terms of the earn-in agreement, NewOrigin has granted Barrick: 1. a 0.5% NSR royalty on the Koval Property and to the Sky Lake claim package owned by NewOrigin at the time of the initial agreement.

Claims subsequently acquired by NewOrigin are excluded from this royalty. A Back-In Right which provides Barrick the right, following delivery of a positive feasibility study, to back-in for a 51% interest on the Koval Property and on the Sky Lake claim package owned by NewOrigin at the time of the initial agreement. On exercise of the Back-In, Barrick's royalty would be extinguished.

In order to back-in, Barrick would be required to complete a payment of three times NewOrigin's expenditures incurred on the properties covered in the agreement. The acquisition of the Koval Property marks a major step in NewOrigin's plans to advance the Sky Lake project. On December 7, 2021 the Company received a 3 year drill permit at Sky Lake to include the area covering the Koval Property.

In addition, the Company is seeking an Early Exploration Agreement with the Mishkeegogamang First Nation in order to carry out further exploration, and a diamond drill program. The Koval Property hosts a historic gold resource where initial drilling is planned. No mining has ever been carried out at Sky Lake or within the Koval Property.