Mr. Carl Lofberg reports

FIREFOX GOLD ANNOUNCES THE APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

Janice Craig, CPA, CGA, is joining the Firefox Gold Corp. team as chief financial officer and corporate secretary, effective Dec. 1, 2020. Andrew MacRitchie has served as CFO since the company's inception in 2017 and is leaving to focus on other opportunities.

"The board would like to extend its gratitude to Andrew not only for his excellent performance as CFO, but also for his valuable role as a co-founder of the company, where his unwavering support and perseverance helped build Firefox into the exciting company that it is today," commented Firefox's chief executive officer, Carl Lofberg. "We are now looking forward to having Janice on board, and I believe that her diverse experience in high-growth corporate and entrepreneurial environments will contribute to the future success of Firefox."

Ms. Craig is a chartered public accountant who has held management roles in several publicly listed mining companies over her career, working on gold, tungsten and coal projects in North America, Central America and Europe. In addition, her most recent role was interim finance lead at Canadian Nuclear Labs, where she managed an annual budget of over $1-billion for a business of 3,500 individuals. She brings to the table a strong background in financial reporting, strategic planning, cash management and change management. Ms. Craig has also utilized her leadership and communication skills on non-profit boards and committees for over 14 years.

Other business

Firefox also announces that the board of directors has approved the grant of stock options to certain officers, employees and consultants of the company, allowing for the acquisition of up to, in the aggregate, 500,000 shares of the company. The grant is pursuant and subject to the terms and conditions of the company's existing stock option plan. The options are exercisable at a price of 25 cents per share for a period of five years from the date of grant and are subject to the approval of the TSX Venture Exchange and all regulatory approvals.

About Firefox Gold Corp.

Firefox Gold has been exploring for gold in Finland since 2017, where it holds a project portfolio that 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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