Vancouver, British Columbia--(Newsfile Corp. - January 22, 2026) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce results from two diamond drill holes totaling 1,156 metres completed at the Mizobe Project ("Mizobe"), intersecting gold mineralization in both drill holes and recording the first intercept of a banded chalcedony vein. The Mizobe Project is located in the Hokusatsu district of southern Kyushu, Japan, approximately 23 kilometres south of the Hishikari Mine, operated by Sumitomo Metal Mining Co., Ltd. (see Figure 1).

Highlights

• 1.82g/t Au over 1.50m (Drill hole: MZD25-008), from 292.50m
  (including 3.53g/t Au over 0.50m from 293.0m). Gold mineralization is associated with sulphide mineralization, silicification, and hydrothermal brecciation, accompanied by anomalous arsenic and antimony (see Figure 3).
• 1.07g/t Au over 2.0m (Drill hole: MZD25-009), from 116.30m
• 1.11g/t Au over 1.35m (Drill hole: MZD25-009), from 189.95m
• Drill hole MZD25-009 intersected similar mineralization at approximately 116.30m downhole and encountered a banded chalcedony vein at approximately 190.75m (see Figure 4). This vein is discontinuous over an interval of approximately 2.40m and represents the first documented drill intersection of this vein style at the Mizobe Project. This vein style is common of low-sulphidation epithermal environments and may be indicative of the upper levels of a hydrothermal system.

The Company is encouraged by the presence of hydrothermal alteration, along with associated anomalous metals and pathfinder elements identified to date. Future exploration will focus on further delineating the extent of the alteration system, improving the understanding of the source and controls of the alteration and associated geochemical anomalies, and evaluating areas with potential for more strongly developed mineralization.

Previous Drilling

Historical drilling completed in 2023 at the Mizobe Project under the Barrick Alliance intersected gold mineralization beneath post-mineral cover. Notable historic intercepts include 10.0m at 4.27g/t Au from 122.75m (MZDD23-003) and 4.0m at 1.60g/t Au from 36.5m (MZDD23-004) (see Figure 2).

2025 Drill Program

The 2025 drill program was designed to test for the presence and potential continuity of mineralization beneath mineralization intersected in historical drill holes MZDD23-003 and MZDD23-004.

Drilling has intersected zones of hydrothermal alteration associated with anomalous gold, arsenic, and antimony beneath post-mineral cover. Based on current drilling, the alteration has been observed in multiple drill holes.

The alteration and associated geochemical anomalies appear to be controlled by the rock type and are best developed in the upper portions of the drill holes.

All reported intervals are downhole core lengths; true widths have not yet been determined. Complete assay results are presented in Table 1.

Table 1: Individual Assay Results from MZD25-008 and MZD25-009

Note: Intervals are downhole lengths; true widths are unknown

Figure 1: Map of the Hokusatsu district and location of Mizobe drilling program

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Figure 2: Mizobe geology with drill hole locations

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Figure 3: Mizobe cross section (2025 drill hole MZD25-008)

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Figure 4: Mizobe cross section (2025 drill hole MZD25-009)

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Sampling Techniques and Assaying

The drilling results discussed in this news release are from drill core samples obtained by PQ, HQ and NQ-size triple-tube diamond core drilling using a PMC-700 drill rig owned and operated by the Company. The drilling program was fully supervised by Company senior geologists at the drilling site.

The drill core was collected in plastic core trays at the drill site and transported by road in Company vehicles to its Kagoshima office and core processing facility near the project area. The drill core was carefully logged, photographed and sample intervals were marked up along predicted mineralized and unmineralized intervals along the entirety of the drill holes by Japan Gold senior project geologists.

Sample lengths varied from 0.3 to 2.0 metres, depending on the positions of geological contacts and variations in alteration composition. The core was split by a diamond rock saw supervised by project geologists. The half-core sample was collected from the entire length of each designated sample interval and placed into individual-labelled, self-sealing calico bags for secure packaging and transport to the laboratory. The half-core samples weighed between 0.4 to 6.16 kilograms depending on the sample length and core size. A chain of custody was established between the Company and the receiving laboratory to ensure the integrity of the samples during transportation from the site to the lab. The samples were sent in batches to ALS Laboratories in Vancouver, Canada for sample preparation and assaying.

Samples were crushed, pulverized and assayed for gold 50-gram charge Fire Assay / AAS Finish (Au-AA24; 0.005 ppm lower detection limit) and a 48 multi-element by 4-acid digest with ICP-MS determination (ME-MS61M; Ag 0.002 ppm lower detection limit). Over-limit Au and Ag samples were re-assayed by fire-assay and gravimetric finish (GRA-22, LDL of 0.5 and 5 ppm for Au and Ag respectively).

Certified Reference Materials ("CRMs") were inserted by Japan Gold KK at every 20th sample to assess the repeatability and assaying precision of the laboratory. In addition, the laboratory applied its own internal Quality Control procedure that includes sample duplicates, blanks & geochemical standards. They report these results with the certified Assay Report. Laboratory procedures and QA/QC protocols adopted are considered appropriate. The CRMs and internal QA/QC results fall within acceptable levels of accuracy & precision and are considered to lack any bias.

Qualified Person

The technical information in this news release has been reviewed and approved by Japan Gold's Vice President of Exploration, Jason Letto, B.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101.

About Japan Gold Corp.

Japan Gold Corp. is a Canadian mineral company focused on the exploration and discovery of high-grade epithermal gold deposits across the main islands of Japan. The Company holds a significant portfolio of tenements covering areas with known gold occurrences, history of mining and prospective for high-grade epithermal gold mineralization in one of the most stable and under explored countries in the world. The Japan Gold leadership and operational team of geologists, drillers and technical advisors have extensive experience exploring and operating in Japan and have a track record of discoveries world-wide. Significant shareholders include Equinox Partners Investment Management LLC and Newmont Corporation.

On behalf of the Board of Japan Gold Corp.
John Proust
Chairman & CEO

Cautionary Note

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results related to future partnerships and the Company's 2026 gold exploration program. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, the timing and granting of prospecting rights; the Company's ability to convert prospecting rights into digging rights within the timeframe prescribed by the Mining Act; general economic, market and business conditions; competition for qualified staff; the regulatory process and actions; technical issues; new legislation; potential delays or changes in plans; working in a new political jurisdiction; results of exploration; the Company's ability to execute and implement future plans, arrange or conclude a joint venture or partnership; and the occurrence of unexpected events. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable laws.

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