Mr. John Proust reports

JAPAN GOLD COMMENCES DRILLING AT THE OHRA-TAKAMINE PROJECT AND PROVIDES CORPORATE UPDATE

Japan Gold Corp. has commenced drilling at the Ohra prospect within its 100-per-cent-owned Ohra-Takamine project in southern Kyushu.

The Ohra-Takamine project is located within the Hokusatsu region of the southern Kyushu epithermal gold province, Japan's largest gold-producing district, with more than 11 million ounces of combined production from high-grade, low-sulphidation epithermal vein deposits.

Ohra-Takamine project

An extensive data set collected over the Ohra-Takamine project by the company includes geological mapping, soil geochemistry, CSAMT (controlled-source audio-frequency magnetotellurics), gravity and three diamond drill holes. Interpretation of this combined data set has defined drill targets along the 3.5-kilometre-long open-ended corridor of alteration and mineralization defined by the historical Ohra, Takamine and Urushi gold mines. Drilling will initially focus on the prospective untested 1.5-kilometre-long strike zone between the Ohra and Takamine mines.

The Ohra prospect

The Ohra mine produced more than 28,000 ounces of gold, including 21,000 ounces at grades greater than 20 grams per tonne gold, prior to closure in 1942. Two drill holes were previously completed by the company at the Ohra prospect (OTD001 and OTDD20-002). These two drill holes targeted vertical depth extensions of the high-grade Ohra vein shoot, intersecting narrow mineralized vein intervals and indicating a termination of the Ohra shoot in that locality. However, drill hole OTDD20-002 continued past the projection of the Ohra veins into the footwall, intersecting a significant number of banded and sheeted quartz veins in the lower portion of the drill hole. These deeper veins may indicate the presence of concealed parallel vein zone at Ohra.

The initially planned drill hole OTDD23-001, located 150 metres southwest of the Ohra workings, will target the inferred strike extension of the veins encountered in Ohra footwall in drill hole OTD20-002. The target is supported by a strong and coincident gold, pathfinder element and clay alteration footprint defined by soil sampling as well as the presence of abundant sinter scree along the target zone indicating good preservation. A corridor of coincident CSAMT defined resistive and conductive anomalies along the 1.2-kilometre strike zone between the Ohra and Takamine workings also supports contiguous alteration along the zone.

If the planned drill hole is successful, additional drilling will target the 1.2-kilometre-long gold and pathfinder element anomalous strike extension toward the Takamine mine workings.

Appointment of Brenda Dayton as vice-president, corporate communications

Ms. Dayton has been appointed as vice-president, corporate communications, effective July 4, 2023.

In this role, Ms. Dayton will lead the company's internal and external communications functions and will work closely with the senior management team and the Japan Gold board of directors in developing and implementing an investor relations and communications plan focused on advancing its resource-development-stage projects. Ms. Dayton has extensive experience within the precious metal mining industry. Prior to joining Japan Gold, she served in a variety of senior corporate communications roles with companies such as GR Silver Mining, Sunward Resources and Golden Queen Mining. Ms. Dayton is a director of the CIRI (Canadian Investor Relations Institute) board -- British Columbia Chapter and holds a bachelor of arts from the University of Calgary. She will be based in the company's Vancouver head office.

John Proust, chairman and chief executive officer of Japan Gold, commented, "I am very excited to have Brenda join us. Her experience and expertise in corporate communications and investor relations will be key to expanding awareness of Japan Gold and its value opportunity within the capital markets." In conjunction with her appointment, Ms. Dayton entered into an employment agreement with the company for an indefinite term. Additionally and pursuant to the company's equity incentive plan, the board of directors has granted Ms. Dayton a total of 200,000 stock options priced at 20 cents per share.

Qualified person

The technical information in this news release has been reviewed and approved by Japan Gold's vice-president of exploration and country manager, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a qualified person as defined by National Instrument 43-101.

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. The company holds a portfolio of 34 gold projects, which cover areas with known gold occurrences and a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold's leadership team represent decades of resource industry and business experience, and the company has an operational team of geologists, drillers and technical advisers with experience exploring and operating in Japan.

Japan Gold has a countrywide alliance with Barrick Gold Corp. to jointly explore, develop and mine certain gold mineral properties and mining projects. The Barrick alliance has completed a successful 2.5-year countrywide screening program of 29 projects and has selected six with the potential to host Tier 1 or Tier 2 gold orebodies for further advancement and three more recently acquired project areas and one recently acquired project for initial evaluation.

We seek Safe Harbor.