Mr. Steve Roebuck reports

AVIDIAN S MAJORITY OWNED HIGH TIDE RESOURCES POISED TO PLAY A ROLE IN THE DECARBONIZATION OF THE IRON & STEEL INDUSTRY

Avidian Gold Corp. has commented on the press release issued on Oct. 4, 2023, by High Tide Resources Corp., owned 28 per cent by Avidian, that preliminary analytical testwork completed on its flagship Labrador West iron project indicates the potential to beneficiate (process) iron ore that will allow High Tide to produce direct reduction (DR) quality iron ore pellets. This is significant in that DR pellets are a critical step in supplying the raw material that will allow low-carbon, and eventually zero-carbon, emission steel to be produced.

Dino Titaro, chairman of Avidian, states: "We are pleased to see the continued progress being made by High Tide on its Labrador West iron project and the contribution it may have to sustainable low-carbon steel manufacturing and as such playing a significant role in the emerging green steel space. Furthermore, yesterday High Tide announced it had begun its baseline environmental data collection at site which is an important first step in the EA process. Our 28-per-cent interest in High Tide currently exceeds our market value and with its continued progress and growth it will further contribute to the value Avidian. In the meantime, we continue to seek recognition value of our Alaskan gold projects through strategic alternatives in order to advance them."

Further details on High Tide's recent press release and on the Labrador West iron project can be found on High Tide's website.

Avidian's Alaska gold properties include the Golden zone project, the Amanita project and the Amanita NE project. Further details on these projects can be found on the company's website.

About Avidian Gold Corp.

Avidian brings a disciplined and veteran team of project managers together with a focus on advanced-stage gold exploration projects in Alaska. The company's district-scale Golden zone property hosts a NI 43-101 indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t (grams per tonne) Au) plus an inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au) within the Breccia Pipe deposit. This resource is exposed on the surface and was pit constrained for an open-pit mining scenario. The technical report was filed on Nov. 17, 2017, and was authored by Leon McGarry, BSc, PGeo and Ian D. Trinder, MSc, PGeo. Additional projects include the Amanita and the Amanita northeast gold properties, which are both adjacent to Kinross Gold's Fort Knox gold mine in Alaska, and the Jungo gold-copper property in Nevada.

Further details on the company and the individual projects, including the National Instrument 43-101 technical reports on the Golden zone property, can be found on the company's website.

Avidian is a 28-per-cent shareholder in High Tide Resources (CSE: HTRC) which is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. High Tide owns a 100-per-cent interest in the Labrador West iron project which hosts am NI 43-101 inferred iron resource of 655 million tonnes at 28.8 per cent Fe and is located adjacent to IOCC's Carol Lake mine in Labrador City, Nfld. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The technical report was filed on SEDAR+ on April 6, 2023, and was authored by Ryan Kressall, MSc, PGeo, Matthew Herrington, MSc, PGeo, Catharine Pelletier, PEng, and Jeffrey Cassoff, PEng. High Tide also owns a 100-per-cent interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Que.

Qualified person

The technical information contained in this news release has been approved by Steve Roebuck, PGeo, president and chief executive officer of Avidian, who is a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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