Mr. Scott Berdahl reports

SNOWLINE GOLD EXPANDS ITS ROGUE PROJECT 80% BY STAKING OPEN GROUND ACROSS ROGUE PLUTONIC COMPLEX AND ACTIVATES SECOND DRILL

Snowline Gold Corp. has staked substantially all remaining open ground over the Rogue plutonic complex, the broad geological feature responsible for gold mineralization at the Rogue project's Valley discovery and other nearby reduced intrusion-related gold system (RIRGS) targets. This staking expands Snowline's 100-per-cent-owned Rogue project by roughly 80 per cent to 94,397 hectares (944 square kilometres) and consolidates the 60 km by 30 km geological feature for systematic, comprehensive exploration. Additional strategic and targeted staking on the company's surrounding Cynthia, Einarson and Ursa projects brings its total Yukon mineral tenure holdings to 333,900 hectares (approximately 3,339 square km). The increased land position solidifies Snowline's competitive advantage in an emerging gold district host to multiple gold discoveries and mineralization styles.

"We know from our 2022 drill results at Valley that the Rogue plutonic complex has the necessary geological ingredients to produce a significant gold system," said Scott Berdahl, chief executive officer and director of Snowline Gold. "The Valley discovery highlights the geological potential of the rest of this regional-scale geological feature, where limited historical work and our own efforts have produced an abundance of intriguing results, anomalies and discoveries. We have actively built, progressively and systematically, not just a first-mover position but effectively an only-mover position in a fertile area that we believe has the potential to become a new gold district. We can now comprehensively and responsibly explore this area, focusing not only on advancing our existing targets but on making additional discoveries as well."

In addition to staking, the Snowline technical team has been compiling and digitizing historical work from various campaigns in the Rogue project area carried out in the late 1960s, early 1980s and mid-1990s, adding it to the company's extensive database from the work done in and around the project area in the early 2010s and recently by the company itself.

Areas of interest

Roughly 21 per cent of the 2,530 newly staked claims fall within or partly within the fixed two km areas of interest (AOIs) defined in Snowline's (formerly Skyledger Tech Corp.) Dec. 1, 2020, deal with Yukon-based company 18526 Yukon Inc., through which Snowline acquired its extensive Yukon data sets and its initial Yukon mineral properties. Claims staked within the AOIs are subject to a 2-per-cent net smelter return (NSR) and are incorporated into existing buydown provisions which allow Snowline to reduce the NSR to 1 per cent on a project-by-project basis. 18526 Yukon is a privately held project generation company that is owned 40 per cent by Snowline's CEO and director, Mr. Berdahl. The remaining 79 per cent of newly staked claims have no underlying royalties.

Exploration update

V-23-034

Drill hole V-23-034 encountered moderate to high quartz vein densities in granodiorite throughout the length of the 425-metre hole, with 106 observations of trace visible gold distributed within quartz veins in the top 337 m of the hole. It is collared roughly 100 m to the north of V-22-007 (410 m at 1.89 grams per tonne Au from surface, including 146 m at 3.24 g/t Au; see Snowline news release dated Nov. 15, 2022), 80 m southeast of V-22-029 (558.7 m at 1.26 g/t Au from surface, including 202.0 m at 2.04 g/t Au; see Snowline news release dated Feb. 24, 2023) and 200 m to the northeast of V-22-010 (318.8 m at 2.55 g/t Au, including 108 m at 4.14 g/t Au from surface; see Snowline news release dated Oct. 12, 2022). At least three distinct vein orientations have been recognized, with gold mineralization present in all three. Quartz vein densities and frequency of observation of visible gold within the top 337 m are comparable with those seen in these earlier highlight holes. The final 40 m of the hole, from roughly 385 to 425 m down hole, had high quartz vein densities but no visible gold and a lower abundance of bismuth and tellurium indicator minerals. Assays are pending for this hole.

The first drill rig has moved and commenced drilling on V-23-036.

Second rig and V-23-035

A second rig has commenced drilling on the Rogue project's Valley target. At the time of writing, 168 m of core from V-23-035, Snowline's second drill hole of 2023, have been received by the core shack and logging has begun. The hole thus far has seen continuous vein densities of five to seven veins per metre in granodiorite, with 16 instances of visible gold observed throughout this length.

About Rogue

The Valley zone on Snowline's flagship Rogue project is a newly discovered, bulk-tonnage-style, reduced intrusion-related gold system (RIRGS), with geological similarities to multimillion-ounce deposits currently in production such as Kinross's Fort Knox mine in Alaska and Victoria Gold's Eagle mine in Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometre-scale, mid-Cretaceous-aged Mayo-series intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.

The Rogue project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue project is thus considered by the company to have district-scale potential for additional reduced intrusion-related gold systems.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with an eight-project portfolio covering greater than 333,000 ha. The company is exploring its flagship 94,000-plus ha Rogue gold project in the highly prospective yet underexplored Selwyn basin. Snowline's project portfolio sits within the prolific Tintina gold province, host to multiple million-ounce-plus gold mines and deposits, including Kinross's Fort Knox mine, Newmont's Coffee deposit and Victoria Gold's Eagle mine. The company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Qualified person

Information in this release has been prepared and approved by Thomas Branson, PGeo, vice-president of exploration for Snowline and a qualified person for the purposes of National Instrument 43-101.

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