Mr. Charles Ross reports

FOUR NINES GOLD AND KINROSS AMEND AGREEMENT

Four Nines Gold Inc. has signed an amendment to the agreement with Kinross Gold USA Inc. and subsidiary Kinam Gold Inc. to explore and evaluate certain fee lands and unpatented mining claims in Lassen county, California, known as the Hayden Hill property.

Charles Ross, chief executive officer of Four Nines, stated: "The strong working relationship between the Kinross and Four Nines teams has facilitated the signing of the favourable amendment to the agreement. The amendments give the company until Nov. 1, 2028, to expand the zones of known high-grade mineralization, both vertically and horizontally."

The amended terms of the agreement, initially announced on April 19, 2023, pertain to cash payments, work expenditures and the date to elect the purchase of 100 per cent of the shares of Lassen Gold Mining Inc., a wholly owned subsidiary of Kinam, that holds all right, title and a 100-per-cent undivided interest in the Hayden Hill property.

Under the terms of the amendment agreement, Four Nines is required to:

• Cash payment of $50,000 (U.S.) upon entry into the agreement (paid);
• Cash payment of an additional $60,000 (U.S.) on or before March 1, 2023 (paid);
• Cash payment of an additional $100,000 (U.S.) on or before Nov. 1, 2024 (paid);
• Cash payment of an additional $50,000 (U.S.) on or before Nov. 1, 2025 (paid);
• Cash payment of an additional $100,000 (U.S.) on or before Nov. 1, 2026;
• Cash payment of an additional $100,000 (U.S.) on or before Nov. 1, 2027;
• Incur at least $250,000 (U.S.) in qualified expenditures on or before March 1, 2023 (done);
• Incur at least an additional $340,000 (U.S.) in qualified expenditures on or before Nov. 1, 2024 (done);
• Incur at least an additional $175,660 (U.S.) in qualified expenditures on or before Nov. 1, 2025 (done);
• Incur at least an additional $1-million (U.S.) in qualified expenditures on or before Nov. 1, 2026, which includes a firm commitment of 5,000 feet of drilling;
• Incur at least an additional $1-million (U.S.) in qualified expenditures on or before Nov. 1, 2027;.
• Incur at least an additional $500,000 (U.S.) in qualified expenditures on or before Nov. 1, 2028;
• Work expenditures are cumulative.

At any time prior to Nov. 1, 2028, Four Nines may elect to purchase all the shares of Lassen and indirectly acquire the Hayden Hill property.

Additionally, the option to buydown the reserved royalty by 0.5 per cent within seven years of the execution date (Aug. 19, 2022) has been extended to eight years from the execution date.

About Four Nines Gold Inc.

Four Nines has a world-class exploration team and the right to acquire 100 per cent of the Hayden Hill mine from a Kinross Gold USA subsidiary. The company is exploring and developing a project in mining-friendly northern California. Hayden Hill is a former producing gold mine that was explored through 99,862 metres of drilling in 742 holes, for which there has been no systematic exploration since the mine closed in 1997. The Hayden Hill project is located on private land, and drill permits for the initial exploration program has been received from Lassen county. The Four Nines exploration team's objective is to expand the zones of known higher-grade mineralization, both vertically and horizontally.

We seek Safe Harbor.