Mr. Ryan Kalt reports

DIXIE GOLD INC. ANNOUNCES FINANCING

Dixie Gold Inc. intends to conduct a non-brokered private placement to raise capital, as further set by the parameters of its market-traded price.

The corporation intends to conduct a non-brokered common share unit financing consisting of up to five million common share units to be issued at a price of five cents per unit.

Each unit will consist of one common share of the corporation and one common share purchase warrant that entitles the holder of a warrant, upon further payment to the corporation, to acquire one additional common share of the corporation at an exercise price of five cents per warrant share on any date prior to the date which is 60 months following the closing date of the financing or tranche thereunder.

The corporation intends to use the proceeds of the financing for working capital purposes.

The corporation does not intend to pay any finders' fees under the financing, with today's announcement, if successfully placed, expected to result in greater net proceeds for the corporation as compared with a financing of gross proceeds minus finders' fees. Insiders (as that term is defined by securities laws) may participate for 25 per cent or more of the financing in effort to support the financial position of the corporation.

The financing is subject to all applicable regulatory approvals, including by the TSX Venture Exchange, as well as a customary four-month hold period on securities issued, all as pursuant to applicable securities laws of Canada.

Cancellation of prior financing

The corporation has cancelled its previously announced private placement (see news release, "Dixie Gold Inc. Announces $250,000 Capital Raise," dated March 6, 2024), under which it had previously made third party finders' fees available.

About Dixie Gold Inc.

Dixie Gold is a publicly traded exploration company holding a portfolio of exploration projects in Canada.

We seek Safe Harbor.