Mr. John Proust reports

JAPAN GOLD CLOSES SECOND AND THIRD TRANCHE OF FINANCING

Japan Gold Corp. has closed the second and third tranches of a non-brokered private placement of common shares of the company.

In connection with closing of the second tranche of the offering, investors subscribed for 1,625,000 shares of the company at a price of 20 cents per share, for gross proceeds of $325,000, and, in connection with closing of the third tranche of the offering, the company issued 525,000 shares for gross proceeds of $105,000. Together with the first tranche of the offering, the company issued an aggregate of 30.65 million shares for gross proceeds of $6.13-million.

In connection with the second tranche of the offering, the company paid a total of $4,500 in cash and issued a total of 22,500 finders' warrants to arm's-length finders. The finders' warrants are exercisable at 20 cents per share until May 26, 2024. No finders' fees were paid in connection with the third tranche of the offering.

The company intends to use proceeds of the offering for drilling, drill targeting, advancing the prospect pipeline from the company's large portfolio of exploration projects and for general working capital purposes.

The shares, finders' warrants and the underlying shares issued under the second tranche of the offering will be subject to a hold period of four months expiring on Sept. 27, 2023, and the shares issued under the third tranche of the offering will be subject to a hold period of four months expiring on Sept. 30, 2023, in accordance with applicable securities laws.

About Japan Gold Corp.

Japan Gold is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu.

We seek Safe Harbor.