Mr. Shawn Khunkhun reports

STRIKEPOINT GOLD INC. BEGINS DRILLING AT THE PORTER IDAHO PROJECT, BRITISH COLUMBIA

Further to its press release dated Aug. 14, 2018, Strikepoint Gold Inc. completed the acquisition of the Porter Idaho property near Stewart, B.C., indirectly through the acquisition from Skeena Resources Ltd. of all of the outstanding shares of Mount Rainey Silver Inc. on Aug. 15, 2018. The company's drilling campaign for the Porter Idaho property has also commenced.

2018 drill campaign

The drill program at Porter Idaho will consist of up to 3,000 metres of diamond drilling on the property, and is designed to test two main areas of interest:

• Possible new extensions to the existing veins that would have not been included of the historic resource;
• Drilling of known veins to recover ore zone material for assaying, the results from which could be used to modernize the historic resources.

This is the first drilling on the property since Teck in the early 1980s, and some of the planned drill holes would not have been possible during their time due to extensive ice cover that has since receded. This gives Strikepoint the unique opportunity to test new targets with the aim of adding ounces to the resource model.

A total of 12 diamond drill holes are planned for this season, with depths ranging from 100 metres to 300 metres. Holes will be paired from a shared pad to increase the company's understanding of the subsurface geometry of the veins.

Porter Idaho camp

The camp facilities at Porter Idaho are now complete and fully occupied. Strikepoint chose Matrix to build and manage the camp and opted for a range of prefabricated steel buildings that could be flown into place and rock bolted to the ground. These buildings are designed to withstand up to 100 feet of snow burial in the winter and provide a safer work environment for employees. This style of camp will also be easier to winterize and will not require lengthy re-establishment in the new year, thus allowing the 2019 exploration season to start up more quickly.

The Porter Idaho --- Silverado mines

The Porter Idaho project contains two shear-hosted silver-rich vein systems: the Silverado and Prosperity-Porter Idaho. The showings are two kilometres apart, located on opposite sides of Mount Rainey, overlooking the town of Stewart. The project is strategically located at the head of the Portland Canal, a deepwater port with year-round, ice-free access.

Since the initial discovery of silver mineralization on Mount Rainey in the early 1900s, most of the work was focused on the Prosperity-Porter Idaho veins, where mineralization is hosted in six dipping parallel shear zones tracked on surface for 200 metres and one kilometre downdip with widths between two and 13 metres. The vein system was mined between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 grams per tonne silver (73.8 ounces/ton) and one g/t gold (yielding approximately 2.2 million ounces of silver). The ore was shipped to the port at Stewart via aerial tramway.

Historic silver resource

The Porter Idaho project contains a historical indicated resource of 394,700 tonnes grading 868 g/t silver, 3.37 per cent lead and 1.41 per cent zinc (435,000 tons at 25.2 ounces/ton silver or a contained 11 million ounces) and an inferred resource of 88,900 tonnes grading 595 g/t silver (97,900 tons at 17.3 ounces/ton silver or a contained 1.7 million ounces).

Estimates of mineral resources are dated March 10, 2008, and were prepared by independent consulting geologist Dr. N.C. Carter, PhD, PEng, for Raimount Energy Inc. and restated for Mount Rainey Silver Inc. on May 15, 2012. The foregoing estimates made use of an extensive database detailing results of both underground sampling programs as well as surface and underground diamond drilling and were prepared pursuant to CIM (Canadian Institute of Mining, Metallurgy and Petroleum) Standards on Mineral Resources and Reserves. Nevertheless, the reader is cautioned that a qualified person on behalf of Strikepoint has not done sufficient work to verify either the underlying sampling data or the calculation methodology to consider this to be a current resource and, as a result, Strikepoint is treating this mineral resource as a historical estimate, as defined in National Instrument 43-101. Strikepoint has not yet determined what work needs to be completed in order to upgrade or verify the historical estimate.

Transaction

As stated above, the transaction was completed on Aug. 15, 2018, whereby the company acquired Mount Rainey Silver Inc. from Skeena for aggregate consideration of the issuance of an aggregate of 7.1 million common shares and 2.4 million special warrants and the payment $1.5-million in cash, of which $250,000 was paid at closing. The remaining cash payments due are secured via a pledge over the Mount Rainey shares, with the last payment being due on Dec. 31, 2019, subject to acceleration in the event the company completes a financing as outlined in the company's Aug. 14, 2018, press release.

The special warrants have a five-year term expiring on Aug. 15, 2023, and are convertible into an additional common share of the company for no additional consideration at such time and from time to time as will not result in Skeena holding more than 10 per cent of the company's issued and outstanding shares.

The company also granted to Skeena a 1-per-cent NSR (net smelter return) on the Porter Idaho property, with the option to buy back 0.5 per cent at any time for a price of $750,000.

All of the securities issuable to Skeena pursuant to the transaction are subject to a four-month hold period expiring on Dec. 16, 2018.

About the Golden Triangle

The Golden Triangle is an area of northwestern British Columbia that has seen extensive historic mining and prospecting activity and has recently been the site of modern discoveries, including the Premier Gold, Snip and Eskay Creek mines. The area has seen a resurgence in infrastructure investment which supports exploration activities, including upgraded transmission lines supplying clean, affordable and reliable hydroelectric power. Other recent improvements include highway upgrades, new ocean port infrastructure at the ice-free port of Stewart and the commissioning of three hydroelectric facilities.

About Strikepoint Gold Inc.

Strikepoint Gold is a well-financed gold exploration and development company. The company controls a portfolio of gold properties in the Yukon and throughout Canada.

The technical information contained in this news release has been approved by Andy Randell, PGeo, vice-president, exploration, of Strikepoint Gold. Mr. Randell is a qualified person as defined in National Instrument 43-101.