White Gold Corp. Makes New High-Grade Discovery Intersecting 6.94 g/t Gold over 19.50m and 1.36 g/t Gold over 18.50m at the Ulli’s Ridge Target in Maiden Diamond Drill Program

TSX.V: WGO, OTCQX: WHGOF, FRA: 29W

White Gold Corp. Makes New High-Grade Discovery Intersecting 6.94 g/t Gold over 19.50m and 1.36 g/t Gold over 18.50m at the Ulli’s Ridge Target in Maiden Diamond Drill Program Share this story... ‌ ‌ ‌ Toronto, ON - February 10, 2022 - White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the "Company") is pleased to report assay results for the maiden diamond drilling program on its Ulli’s Ridge target located approximately 3 km southwest of the Company’s flagship Golden Saddle and Arc deposits and 11 km south of the Company’s VG deposit. The Golden Saddle and Arc deposits have a combined mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au(1), and the VG deposit hosts an Inferred gold resource of 267,600 ounces at 1.62 g/t Au(2). This maiden diamond drilling was part of the Company’s fully funded 2021 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC) on its extensive 420,000 hectare land package in the emerging White Gold District, Yukon. The Ulli’s Ridge target is located immediately south of the Ryan’s Surprise target, with both targets situated on a 6.5 km long x 1.0 km wide northwest-southeast trend of anomalous gold and arsenic in soils, which extends from the Ulli’s Ridge target in the south to the Teacher showing in the north (Figure 1). The Ryan’s Surprise target has been a focus of diamond drilling over the past two field seasons, and in 2021 drilling was expanded southwards to the Ulli’s Ridge target. The goal of these drill programs was to identify new zones of gold mineralization with the potential to increase the Company’s significant gold resources. Highlights Include: 2021 diamond drilling at the Ulli’s Ridge target comprised 7 holes totalling 1,408.7m which tested an approximately 550m strike length where early season 2021 rotary air blast (RAB) drilling encountered encouraging gold mineralization including 4.67 g/t Au over 6.10m and 1.35 g/t Au over 21.33m. All holes intersected gold mineralization with significant results including: o WHTULR21D004: 6.94 g/t Au over 19.50m, including 39.10 g/t Au over 1.50m and 45.40 g/t Au over 0.83m o WHTULR11D005: 1.36 g/t Au over 18.50m including 5.19 g/t Au over 3.50m o WHTULR21D001: 2.04 g/t Au over 5.13m o WHTULR21D002: 1.03 g/t Au over 8.00m and 2.44 g/t Au over 4.10m o WHTULR21D003: 1.91 g/t Au over 4.49m o WHTULR21D006: 4.26 g/t Au over 1.70m o WHTULR21D007: 1.81 g/t Au over 3.87m and 2.50 g/t Au over 4.65m Drilling at Ulli’s Ridge has now identified gold mineralization along an approximately 650m strike length with mineralization remaining open along strike and at depth.  All intercepts are at relatively shallow depths and when compared to the Ryan’s Surprise target which continues to intersect high-grade mineralization at greater depths, the Ulli’s Ridge target has significant expansion potential. A video overview from management discussing these results in more detail can be found at: https://www.youtube.com/watch?v=MNTCVUIXdTQ The Company is currently planning its fully funded 2022 exploration program, with details to be released in due course. Figures accompanying this news release can be found at: https://whitegoldcorp.ca/investors/exploration-highlights/ Shawn Ryan, Chief Technical Advisor stated, “The significance of the high-grade gold found in Hole 4, which is also associated with high arsenic values, and very similar to rocks found around the Teacher showing to the north, is that it introduces a new style of high-grade gold target to follow up on. Historically, gold-arsenic anomalies were classified as Arc Style, which generally represented lower gold grade (< 2 g/t Au) potential, and therefore have seen limited exploration. When we look at the 99 percentile arsenic soil anomalies (> 200 ppm) we can clearly see a 6.5 km trend running in a NNW direction from Ulli’s Ridge to the Teacher Showing. Most of these gold-arsenic anomalies have never been prospected or looked at to date. This upcoming summer’s prospecting work will directly target this arsenic trend which hopefully leads to more new high grade gold discoveries.”   “We are very pleased with the results from our maiden drill diamond drill program at Ulli’s Ridge as they continue to demonstrate the extensiveness of gold mineralization in this area. Ulli’s is situated on a multi-kilometre gold in soil anomaly which hosts several other prospective targets in close proximity to our flagship deposits” stated David D’Onofrio, CEO. “Our 2021 program was very successful in identifying and expanding new areas of gold mineralization with the potential to increase White Gold’s significant resource base. I congratulate our team on making another new discovery in this prolific and underexplored district and look forward to following up on these exciting results.” Figure 1 - White Property Overview 2021 Diamond Drilling Program The 2021 diamond drilling program at Ulli’s Ridge comprised 7 holes totalling 1,408.7m with hole lengths ranging from 161.5m to 265.0m and was designed to test an approximately 550m strike length (Figure 2) where early season 2021 RAB drilling returned encouraging results including 4.67 g/t Au over 6.10m from 6.10m downhole in hole WHTULR21RAB006 and 1.35 g/t Au over 21.33m from 67.06m downhole in WHTULR21RAB005 (see Company news release dated November 01, 2021). All 7 diamond drill holes were drilled to the north-northeast (025°) at a dip of -50° (Table 2) to test multiple interpreted northwest-striking and shallowly to moderately southwest-dipping (025-060°) mineralized structures. Figure 2 - 2021 Ulli's Ridge Diamond Drilling Results The 2021 Ulli’s Ridge diamond drilling program successfully encountered gold mineralization along a 550m strike length at relatively shallow depths, to a maximum of 225m below surface. Mineralization remains open along strike and at depth and recent drilling further demonstrates the exploration potential along the property-scale gold soil geochemical trend located west of the Golden Saddle deposit and east of the Yukon River.   The strongest drilling results were returned from the southeasternmost hole, WHTULR21D004, which was drilled to test beneath RAB hole WHTULR21RAB006 (4.67 g/t Au over 6.10m). WHTULR21D004 intersected 6.94 g/t Au over 19.50m from 64.50m downhole, including high-grade subintervals of 39.10 g/t Au over 1.50m and 45.40 g/t Au over 0.83m (Figures 3 and 3A to 3C). A narrow high-grade zone was also encountered higher in the hole, returning 10.30 g/t Au over 0.70m from 35.20m.   Hole WHTULR21D007 was drilled approximately 225m northwest of WHTULR21D004 and intersected multiple zones of mineralization grading from 1.5-2.9 g/t Au over widths of 0.5-4.65m. Narrow (0.5-1.0m) higher-grade subintervals within these zones grade from 5.7-9.0 g/t Au.   The remainder of the drilling included a cluster of five drill holes that tested an approximately 225m strike length, including holes WHTULR21D001, 002, 003, 005 and 006. Of these holes, WHTULR21D005 delivered the strongest results with a zone of 1.36 g/t Au over 18.50m from 139.50m, which included a higher-grade subinterval of 5.19 g/t Au over 3.50m. Highlights from other holes included 2.04 g/t Au over 5.13m from 9.00m in WHTULR21D001, 2.44 g/t Au over 4.10m from 125.50m in WHTULR21D002, 1.91 g/t Au over 4.49m from 53.86m in WHTULR21D003, and 4.26 g/t Au over 1.70m from 219.60m in WHTULR21D006. Figure 3 - 2021 Ulli's Ridge Cross Section Figure 3A - WHTULR21D004 61.35m to 70.00m Figure 3B - WHTULR21D004 70.00m to 78.70m Figure 3C - WHTULR21D004 78.70m to 87.44m Interpretation   Each of the 2021 diamond drill holes was surveyed with a borehole optical televiewer (OTV) which provides high-resolution digital imagery of the hole walls and provides key structural orientation data on lithological contacts, foliations, fractures, shear zones, veins, etc. This structural data was then integrated with drill core logs, digital core photos, and analytical results to produce a working model.   The OTV data show that structures strike consistently to the north-northwest, but two dominant dips and dip directions are evident (Figure 4): Set 1) foliations and certain parallel to subparallel veins, fractures, and breccia/shear zones dip shallowly (10-30°) to the east-northeast; and Set 2) veins and fractures dip steeply (60-70°) to the west-southwest. Although gold mineralization is associated with both sets of structures, gold grades may differ between the two sets. For example, the very high-grade gold intercepts in hole WHTULR21D004, which included 39.10 g/t Au over 1.50m and 45.40 g/t Au over 0.83m, are clearly associated with mineralized quartz veins and breccia/shear zones that dip shallowly to the east-northeast (Set 1). Consequently, the significantly higher-grade gold intercept in this hole may be explained by having drilled partially oblique to several of these high-grade veins. Nevertheless, high gold grades are also sometimes associated with Set 2 structures, as evidenced by a steeply west-southwest dipping mineralized vein in hole WHTULR21D005 that graded 15 g/t Au over 1.00m. More closely spaced drilling is required to better model these mineralized zones, determine gold grade variations, and estimate true thicknesses.   Given the encouraging results from the 2021 drill program, additional diamond drilling is warranted to further test the mineralized zones both along strike and at depth. Figure 4 - Ulli's Ridge and Ryan's Surprise Conceptual Models QA/QC Analytical work for the 2021 diamond drilling program was performed by ALS Canada Ltd., an internationally recognized analytical services provider, at its North Vancouver, British Columbia laboratory. Sample preparation was carried out at its Whitehorse, Yukon facility. All diamond drill core samples were prepared using procedure PREP-31H (crush 70% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10 g/t Au were reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish). The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standards, blanks, and duplicates into the sample stream. FOLLOW US ‌ ‌ ‌ ‌ ‌ About White Gold Corp. The Company owns a portfolio of 21,111 quartz claims across 31 properties covering over 420,000 hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au(1). Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s recently acquired VG Deposit also hosts an Inferred gold resource of 267,600 ounces at 1.62 g/t Au(2). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au(3), and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu(4). For more information visit www.whitegoldcorp.ca.   (1) See White Gold Corp. technical report titled “Technical Report for the White Gold Project, Dawson Range, Yukon Canada”, Effective Date May 15, 2020, Report Date July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR. (2) See White Gold Corp. technical report titled “Technical Report for the QV Project, Yukon, Canada”, Effective Date October 15, 2021, Report Date November 15, 2021, available on SEDAR. (3) See Newmont Corporation news release titled “Newmont Reports 2020 Mineral Reserves of 94 Million Gold Ounces Replacing 80 Percent of Depletion”, dated February 10, 2021: https://www.newmont.com/investors/news-release/default.aspx. (4) See Western Copper and Gold Corporation news release titled “Western Copper and Gold Announces Significant Resource Increase at Casino”, dated July 14, 2020, available on SEDAR.   Qualified Person Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.   Cautionary Note Regarding Forward Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.   These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.   Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.   For Further Information, Please Contact:   Contact Information: David D’Onofrio Chief Executive Officer White Gold Corp. (647) 930-1880 ir@whitegoldcorp.ca   To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/

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You're invited! Panel on Technologies, Strategies & Methodologies of Promising Explorers

TSX-V: WGO, OTC: WHGOF, FRA: 29W

Mining is often characterized as an old-school industry. Four explorers say they're proving that description wrong. Join our CEO, David D'Onofrio, to learn about White Gold Corp's unique exploration methods, how they might be applied in the future, and why we decided to take this approach. An intimate Q&A will follow where you can ask the executives questions.   Join David on February 15th at 12 PM EST / 9 AM PST CLICK HERE TO REGISTER FOLLOW US ‌ ‌ ‌ ‌ ‌ About White Gold Corp. The Company owns a portfolio of 21,111 quartz claims across 31 properties covering over 420,000 hectares representing over 40% of the Yukon’s emerging White Gold District. The Company’s flagship White Gold property hosts the Company’s Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au(1). Mineralization at the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company’s VG Deposit acquired in March 2019 hosts an Inferred gold resource of 267,000 ounces at 1.62 g/t Au(2). Regional exploration work has also produced several other new discoveries and prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.14 Moz at 1.20 g/t Au, and Inferred Resources of 0.23 Moz at 1.07 g/t Au(3) and Western Copper and Gold Corporation’s Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu(4). For more information visit www.whitegoldcorp.ca. (1) See White Gold Corp. technical report titled “Technical Report for the White Gold Project, Dawson Range, Yukon Canada”, dated July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR. (2) See White Gold Corp. technical report titled “Technical Report for the QV Project, Yukon Canada”, dated November 15, 2021, prepared by Dr. Gilles Arseneau, P.Geo., available on SEDAR. (3) See Newmont Corporation press release titled “Newmont Reports 2020 Mineral Reserves of 94 Million Gold Ounces Replacing 80 Percent of Depletion”, dated February 10, 2021:  https://www.newmont.com/investors/news-release/default.aspx (4) See Western Copper and Gold Corporation technical report titled “Preliminary Economic Assessment, Yukon Cnada”, dated August 2, 2020, prepared by M3 Engineering & Technology Corp., available on SEDAR. Qualified Person Terry Brace, P.Geo. and Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release. Cautionary Note Regarding Forward Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", “proposed”, "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability. These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. For Further Information, Please Contact: Contact Information:  David D’Onofrio Chief Executive Officer White Gold Corp. (647) 930-1880 ir@whitegoldcorp.ca

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Latin Metals and Barrick Gold Corporation Enter into Earn-In Agreement for Exploration Projects, Santa Cruz Province, Argentina

Latin Metals and Barrick Gold Corporation Enter into Earn-In Agreement for Exploration Projects, Santa Cruz Province, Argentina Vancouver, British Columbia – Latin Metals Inc. ("Latin Metals" or the "Company") - (TSXV: LMS, OTCQB: LMSQF) announces that it has entered into an earn-in agreement (the "Earn-In Agreement") with a wholly-owned subsidiary of Barrick Gold Corporation ("Barrick") (TSX: ABX and NYSE: GOLD).  Under the terms of the Earn-In Agreement, Barrick has the right to acquire up to an 85% interest in the Company's Cerro Bayo, Cerro Bayo Sur and La Flora properties (the "Properties"), located in Santa Cruz Province, Argentina (Figure 1).  Barrick's earn-in right consists of an initial option (the "First Option") to acquire a 70% interest in the Properties and a second option (the "Second Option") to acquire an additional 15% (aggregate 85%) interest. The Properties are currently subject to an underlying option agreement dated February 7, 2019, as amended (the "Underlying Option Agreement") (see news release dated February 11, 2019), pursuant to which Latin Metals has the right to acquire an ultimate 100% interest in the Properties. To exercise the First Option and earn a 70% interest by the seventh anniversary of the Effective Date (defined below) of the Earn-In Agreement, Barrick must: Make cash payments totaling US$2,321,793 pursuant to the Underlying Option Agreement; Make cash payments to Latin Metals totaling US$750,000 (inclusive of $150,000 on the Effective Date); Incur exploration expenditures with respect to the Properties totaling US$5,000,000, of which US$1,000,000 is a binding commitment (work or cash in lieu) to be spent before the second anniversary of the Effective Date; and Prepare and deliver to Latin Metals a Preliminary Economic Assessment prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). To exercise the Second Option and earn an additional 15% interest by the ninth anniversary, Barrick must: Make additional cash payments to Latin Metals totaling US$425,000 (aggregate US$1,175,000); and Sole fund all costs and deliver to Latin Metals a Prefeasibility Study prepared in accordance with NI 43-101. The binding nature of Barrick's expenditure commitment does not become effective until the parties have entered into an agreement with the underlying property owner to acknowledge Barrick's rights under the Earn-In Agreement and authorize Barrick to conduct operation on the properties (the "Effective Date").  In the event that such agreement is not reached within 60 days of executing the Earn-In Agreement, Barrick may terminate the Earn-In Agreement immediately upon notice to Latin Metals.  Barrick may at any time during the term of the Earn-In Agreement accelerate the timing for payment of any or all cash payments to Latin Metals and the underlying owner of the Properties, delivery of technical studies, and incurring exploration expenditures. "Barrick is a good partner who bring considerable technical and financial capability to the project" said Keith Henderson, President and CEO of Latin Metals. "Assuming that the Earn-In Agreement runs to full term, Barrick's investment of around US$8.5 million will include payments to the underlying vendor, payments directly to Latin Metals and funding of work on the ground; all of which will help to limit dilution to Latin Metals' shareholders." Mr. Henderson added: "The Earn-In Agreement is consistent with the Company's prospect generator model, and the work contemplated, if successful, would advance the projects considerably, while Latin Metals will retain a minority interest." Figure 1: Location of the Cerro Bayo, Cerro Bayo Sur, and La Flora properties, together with Latin Metals' additional property interests in Santa Cruz. During the term of the First Option, Barrick will have the exclusive right to explore and conduct operations on the Properties and Latin Metals will be responsible for maintaining the Properties valid and in good standing. Upon the exercise of the First Option, Latin Metals and Barrick will form a joint venture (the "JV") for the continued exploration, development and, if warranted, mining of the Properties.  The initial participating interests of the parties in the JV will be Barrick – 70% and Latin Metals - 30%.  If Barrick exercises the Second Option, the interests of the participants will be Barrick – 85% and Latin Metals - 15%.  The party with the majority participating interest will be the operator of the Properties.  Funding of the JV's operations will be based on each party's prevailing proportionate participating interest.  Dilution of a party's participating interest will apply in the case of funding shortfalls by either party.  If a party's participating interest in the JV falls to below 5%, it will be converted into a 1.5% net smelter returns royalty (the "Dilution Royalty").  The transfer of the Dilution Royalty shall be subject to a right of first refusal in favour of the non-diluting party.  About Latin Metals Latin Metals is a mineral exploration company acquiring a diversified portfolio of assets in South America.  The Company operates with a Prospect Generator model focusing on the acquisition of prospective exploration properties at minimum cost, completing initial evaluation through cost-effective exploration to establish drill targets, and ultimately securing joint venture partners to fund drilling and advanced exploration.  Shareholders gain exposure to the upside of a significant discovery without the dilution associated with funding the highest-risk drill-based exploration.   Qualified Person Keith J. Henderson, P.Geo., is the Company's qualified person as defined by NI 43-101 and has reviewed the scientific and technical information that forms the basis for portions of this news release.  He has approved the technical disclosure herein.  Mr. Henderson is not independent of the Company, as he is an employee of the Company and holds securities of the Company. On Behalf of the Board of Directors of LATIN METALS INC. "Keith Henderson" President & CEO For further details on the Company readers are referred to the Company's web site (www.latin-metals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com. For further information, please contact: Keith Henderson Suite 890 999 West Hastings Street Vancouver, BC, V6C 2W2 Phone: 604-638-3456 E-mail:  info@latin-metals.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995.  All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the exercise of the First Option or the Second Option by Barrick, the exercise of the first option and second option under the Underlying Agreement, the formation of the JV, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements.  Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct.  Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "may", "will", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.  In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that it will obtain TSX Venture Exchange acceptance, if applicable, that market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Properties in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Properties, and the Company's ability to comply with environmental, health and safety laws. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information.  Such risks and other factors include, among others, operating and technical difficulties in connection with mineral exploration and development and mine development activities at the Properties, the fact that the Company's interest in the Properties is an option only and there is no guarantee that such interest, if earned, will be certain, estimation or realization of mineral reserves and mineral resources, requirements for additional capital, future prices of precious metals and copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, possible variations in ore grade or recovery rates, possible failures of plants, equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, delays or the inability of the Company to obtain any necessary permits, consents or authorizations required, including TSX Venture Exchange acceptance of the proposed transaction, financing or other planned activities, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation, environmental issues and liabilities, risks relating to epidemics or pandemics such as COVID‑19, including the impact of COVID‑19 on the Company's business, risks related to joint venture operations, and risks related to the integration of acquisitions, as well as those factors discussed under the heading "Risk Factors" in the Company's latest Management Discussion and Analysis and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com. Readers are cautioned not to place undue reliance on forward looking statements.  Except as otherwise required by law, the Company undertakes no obligation to update any of the forward-looking information in this news release or incorporated by reference herein. -30- View in PDF Format     Copyright 2022 Latin Metals Inc. All rights reserved You are receiving this email because you have subscribed to receive email updates via our website Unsubscribe | View Online Corporate Office: Latin Metals Inc. Suite 890 - 999 West Hastings Street Vancouver, BC Canada V6C 2W2 T: +1 (604) 638-3456 info@latin-metals.com

GSilver Provides 2021 Production Summary

GSilver Provides 2021 Production Summary VANCOUVER, BC / ACCESSWIRE / February 3, 2022 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is pleased to provide selected 2021 production and exploration highlights. 2021 Highlights: Approximately 238,000 AgEq ounces produced during November and December 2021;199,500 AgEq ounces sold during the same period. With first concentrate sales in late October, 2021 revenue to December 31, 2021 totaled approximately US$4.1M. A total of 76,000 tonnes mined from different locations at El Cubo and the El Pinguico above ground stockpile. Material processed at the El Cubo mill reached a high of 33,000 tonnes during the month of December. 6,796 meters of exploration drilling completed at combined El Cubo/El Pinguico operation. The Santa Cecilia area commenced production in December, joining Villalpando and El Pinguico as the Company's third source of mineralized material. El Pinguico above ground stockpile metallurgical recoveries averaged 74% for gold and 72% for silver; silver recoveries are considerably better than the 2020 bulk sample (see the Company's news release dated June 9, 2020) After completing the purchase of the El Cubo mining complex in April 2021, the Company has swiftly brought the mine and processing facility back into commercial production. Mining commenced at El Cubo in August 2021; the hauling of stockpiled material from the Company's nearby El Pinguico property, and the restart of crushing and milling operations at the El Cubo plant commenced in October. Hernan Dorado, Director and COO said: "We are very pleased with the swift pace with which we have brought the combined El Cubo and El Pinguico operation back into commercial production. The ongoing ramp-up, and continual improvements of tonnes mined and processed, head grade, and metallurgical recoveries is continuing." Current Operations: At El Cubo, the Company is currently deriving mineralized material from the 4-1500, 1850, and 2175 stope areas of the Villalpando vein, and the San Nicolasand Soledadveins of the Santa Cecilia area of north El Cubo, while additional tonnage is being sourced from the El Pinguico above-ground stockpile. Altogether, the Company is currently treating approximately 30,000 tonnes per month through its El Cubo processing plant. James Anderson, GSilver's Chairman and CEO, commented, "2021 was an exciting and successful year for our Company, as it marked our evolution from exploration company to silver-gold producer. As we continue meeting or exceeding our production goals, we will carry on with our steady and continuous ramp-up of operations well into 2022. We are well positioned to continue our growth strategy this year." Additional Progress: By the beginning of 2022, GSilver had employed over 280 full-time personnel; of which over 80% are from the Guanajuato area. More than 40 of GSilver's employees are graduates of the University of Guanajuato, and the Company has established regular bi-weekly meetings with representatives from the city of Guanajuato. Exploration: The Company completed exploration drilling totalling 6,796m in 2021; 4,203m at El Pinguico, and 2,593m at El Cubo. Currently the Company has three drills in operation: one at El Pinguico and two at El Cubo. The Company plans to complete over 22,000m of exploration drilling on its Guanajuato properties in 2022; further details of exact targets and timelines will be outlined in subsequent news releases. (Underground Drilling At El Pinguico) (Underground Drilling At El Cubo) (Surface Drilling At El Cubo) Hernan Dorado Smith, a director and officer of GSilver and a "qualified person" as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release. About Guanajuato Silver Company Ltd.: GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines near the city of Guanajuato, Mexico. The Company is currently producing silver and gold from its 100% owned El Cubo and El Pinguico projects, while simultaneously advancing the El Pinguico Mine to restart. Both projects are located within 11km of the city of Guanajuato, which has an established 480-year mining history. ON BEHALF OF THE BOARD OF DIRECTORS "James Anderson" Chairman and CEO For further information regarding Guanajuato Silver Company Ltd., please contact: JJ Jennex, Gerente de Comunicaciones T: 604 7213 1433 E: jjj@GSilver.com Gsilver.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statements This news release contains certain forward-looking statements and information, which relate to future events or future performance including, but not limited to, the expected ongoing ramp-up and continual improvements of tonnes mined and processed, head grade, and metallurgical recoveries, the current and projected mined output from El Cubo, the ability of the Company to identify additional sources of mineralized material for processing through the El Cubo mill; the Company's ability to restart production from the El Pinguico mine, the Company's future growth strategy and development and production activities; estimates of mineral resources and the accessibility, attractiveness, mineral content and metallurgical characteristics thereof; the opportunities for future exploration, development and production at El Cubo and El Pinguico and the proposed exploration, development and production programs therefor including total meters of exploration drilling planned for El Cubo and El Pinguico in 2022 and the timing and costs thereof; and the success related to any future exploration, development and/or production programs. Such forward-looking statements and information reflect management's current beliefs and are based on information currently available to and assumptions made by the Company; which assumptions, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our mineral resource estimates at El Cubo and El Pinguico and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock conforming to sampled results and metallurgical performance; available tonnage of mineralized material to be mined and processed; resource grades and recoveries; assumptions and discount rates being appropriately applied to production estimates; success of the Company's combined El Cubo / El Pinguico operation; the Company's ability to secure external sources of mineralized material for processing, prices for silver and gold remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company's projects; capital, decommissioning and reclamation estimates; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Readers are cautioned that such forward-looking statements and information are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, currency rate fluctuations, actual results of exploration, development and production activities, actual resource grades and recoveries of silver and gold, availability of third party mineralized material for processing, unanticipated geological or structural formations and characteristics, environmental risks, future prices of gold, silver and other metals, operating risks, accidents, labor issues, equipment or personnel delays, delays in obtaining governmental or regulatory approvals and permits, inadequate insurance, and other risks in the mining industry. There are no assurances that GSilver will be able to continue to ramp-up and increase production at the El Cubo mill to process mineralized materials to produce silver and gold concentrate in the amounts, grades, recoveries, costs and timetable anticipated. In addition, GSilver's decision to process mineralized material from its estimated resources at El Cubo and above and underground stockpiles at El Pinguico through the El Cubo mill is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and therefore is subject to increased uncertainty and risk of failure, both economically and technically. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability, are considered too speculative geologically to have the economic considerations applied to them, and may be materially affected by environmental, permitting, legal, title, socio-political, marketing, and other relevant issues. There are no assurances that the results of the Company's 2021 preliminary economic assessment and projected production of silver and gold will be realized. There is also uncertainty about the spread of COVID-19 and variants of concern and the impact they will have on the Company's operations, supply chains, ability to access El Pinguico and/or El Cubo or procure equipment, contractors and other personnel on a timely basis or at all and economic activity in general. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Company's annual information form for its fiscal year ended December 31, 2020. Accordingly, readers should not place undue reliance on forward-looking statements and information. Such statements and information are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by law. SOURCE: Guanajuato Silver Company Ltd. View source version on accesswire.com: https://www.accesswire.com/687062/GSilver-Provides-2021-Production-Summary Copyright © 2022 Guanajuato Silver Company Ltd., All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Guanajuato Silver Company Ltd. 578 – 999 Canada Place Vancouver, BC V6C 3E1 Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.