Mr. Carl Lofberg reports

FIREFOX GOLD GROWS LAND POSITION IN CENTRAL LAPLAND GREENSTONE BELT OF NORTHERN FINLAND

Firefox Gold Corp. has added two new properties to its exploration portfolio in the Central Lapland greenstone belt (CLGB) of Finland. During the course of Firefox's 2020 summer field season, the company has applied for and has been granted two new exploration reservations -- the Kolho and Kelontekema properties. These new reservations bring Firefox's tenement holdings in northern Finland to approximately 1,720 square kilometres, among the largest holdings of gold explorers in Lapland. Field programs have been initiated at both properties.

Kolho property -- eastern margin of CLGB

On Sept. 3, 2020, the Finnish mining authority granted Firefox Gold a large new exploration reservation covering approximately 148.15 square kilometres within the counties of Kittila and Sodankyla. The new property lies approximately 21 kilometres from the Kittila mine (Agnico Eagle) and four kilometres from the Pahtavaara mine (Rupert Resources). Geologically, the area is located along the eastern margin of the Kittila suite of rocks. The area is characterized by a major thrust fault between allochthonous oceanic crust (Kittila suite) thrusted onto older rocks to the east. The Kittila suite consists of Kautoselka and Vesmajarvi mafic volcanic rocks and Porkonen mafic graphite tuffs (the same sequence of rocks hosting the gold deposits at the Kittila mine). The leading edge of the thrusted sheet consists of Savukoski group ultramafic volcanics, Matarakoski black schists and Sodankyla group arkosic quartzites (the lithological association that hosts Rupert's Ikkari discovery). The autochthonous rocks to the east comprise older Archean basement rocks.

Firefox cautions that proximity or similar geology to an active or past-producing mine does not indicate that mineralization will occur on Firefox's property and, if mineralization does occur, that it will occur in sufficient quantity or grade that would result in an economic extraction scenario. These facts were simply used as elements of the prospectivity analysis of these properties.

In spite of its prospective lithological and structural setting, the Kolho area has not seen significant gold exploration activity in the past. Firefox has already initiated a mapping and sampling campaign in Kolho. Associated with the northwest-southeast-striking shear zone, the teams have identified brittle quartz-limonite-pyrite veins, sheeted veins and quartz stockwork within moderately to strongly silicified mafic volcanics and tuffs. Assays for the first round of rock samples are pending. Firefox geologists have also identified and assayed 128 historical bottom-of-till (BOT) samples collected by the Geological Survey of Finland (GTK) for gold and pathfinder elements. The GTK samples yielded anomalous gold and multielement anomalies, warranting further prospecting.

Kelontekema property -- west of Jeesio project

On July 27, 2020, the Finnish mining authority granted Firefox Gold another new exploration reservation encompassing approximately 71.06 square kilometres in the counties of Kittila and Sodankyla. The new property lies between the company's Jeesio (east) and Mustajarvi (west) projects, just south of the Sirkka shear zone. Apart from a few gold anomalies in till samples, there is no evidence of significant historic gold exploration at Kelontekema, but Firefox teams are conducting reconnaissance mapping and sampling in the area as part of the 2020 field season. This application was competitive with other groups, such as Rupert Resources, which holds ground to the east and north.

Quality assurance

Patrick Highsmith, certified professional geologist (AIPG CPG No. 11702) and a director of the company, is a qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare and approves the technical information in this news release.

Dr. Petri Peltonen, exploration manager of Firefox Gold, is a qualified person as defined by NI 43-101. Dr. Peltonen has supervised the collection and interpretation of the technical data generated in the company's field program and has helped prepare and approves the technical information in this news release.

About Firefox Gold Corp.

Firefox Gold is listed on the TSX Venture Exchange under the ticker symbol FFOX. The company is focused entirely on gold exploration in Finland, where it is exploring its project portfolio, which includes over 170,000 hectares of prospective ground.

Finland is one of the top mining investment jurisdictions in the world, as indicated by its multiple top-10 rankings in recent Fraser Institute surveys of mining companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and Firefox is proud to have a Finland-based chief executive officer and technical team.

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