Mr. Steve Burleton reports

ANGUS GOLD ANNOUNCES $5.8 MILLION PRIVATE PLACEMENT

Angus Gold Inc. has arranged a fully subscribed non-brokered private placement consisting of 5,057,000 flow-through common shares of the company at a price of $1.15 per FT common share for gross proceeds of $5,815,550.

The gross proceeds of the financing will be used to finance the company's exploration projects in Ontario. The company will use an amount equal to the gross proceeds received by the company from the sale of the FT shares, pursuant to the provisions in the Income Tax Act (Canada) to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the tax act. The company will renounce all the qualifying expenditures in favour of the subscribers of the FT shares, effective Dec. 31, 2022.

The closing of the financing is expected to occur on or about June 28, 2022, and is subject to the receipt of regulatory approvals, including the approval of the TSX Venture Exchange. The securities to be issued under the financing will have a hold period of four months and one day from closing.

The company further announces that it has entered into a fiscal advisory agreement with Medalist Capital Ltd. pursuant to which Medalist will provide general advice and planning services in connection with the strategic analysis of equity and debt market. Subject to the approval of the TSX-V, the company and Medalist have agreed that payment for the services shall be in common shares of the company in the amount of 263,220 common shares. The deemed price of the consideration shares to be issued will be determined after the date the services are provided to the company.

About Angus Gold Inc.

Angus is a Canadian mineral exploration company focused on the acquisition, exploration and development of highly prospective gold properties. The company's flagship project is the Golden Sky project in Wawa, Ont.

Insiders currently own approximately 47 per cent of the company, with New Gold Inc. owning approximately 9.9 per cent, each based on the number of issued and outstanding common shares.

We seek Safe Harbor.