Mr. Jean-Yves Therien reports

ESGOLD TERMINATES EARN-IN OPTION AGREEMENT WITH NEPEAN BAY JOINT VENTURE

Esgold Corp. has elected to terminate the earn-in joint venture agreement signed on May 30, 2022, with Nepean Bay Joint Venture for the purpose of jointly exploring and developing the Ottawa River gold project. As a result of the agreement termination, Nepean Bay Joint Venture will retain 100-per-cent ownership of its Ottawa River gold property interests.

The decision to terminate the earn-in option joint venture was based on a detailed review of a positive preliminary economic assessment report related to the Montauban project (see press release dated April 13, 2023). "Considering the scope and size of our Montauban project, management will focus 100 per cent of its activities on bringing the project into commercial production and generating significant cash flow," stated Jean-Yves Therien, Esgold's president and chief executive officer.

About Esgold Corp.

Esgold is a Canadian environmentally aware resource exploration and processing company. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. Esgold's principal restoration and recovery project is the Montauban property situated in Quebec, just 80 kilometres west of Quebec City.

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