Mr. David Paxton reports

KAPA GOLD ANNOUNCES WARRANT AMENDMENTS

Kapa Gold Inc. intends to amend the exercise price of an aggregate of 5,622,600 common share purchase warrants (the May, 2022, warrants) from 40 cents to 20 cents and extend the expiry date of the May, 2022, warrants to May 19, 2026. The May, 2022, warrants were issued on May 19, 2022, and currently expire on May 19, 2024.

In connection with the amendments, the terms of the May, 2022, warrants will be amended to include an accelerated expiry clause such that the exercise period of the May, 2022, warrants will be reduced to 30 days if, for any 10 consecutive trading days during the unexpired term of the May, 2022, warrants, the closing price of the common shares of the company exceeds the new exercise price of the May, 2022, warrants by 25 per cent or more. The 30-day expiry period will commence on the day that the company disseminates a press release announcing the accelerated expiry period.

The amendments remain subject to receipt of TSX Venture Exchange approval.

About Kapa Gold Inc.

Kapa Gold, led by experienced capital markets and geologic team, is focused on exploring its 100-per-cent-owned historic Blackhawk gold mine and surrounding underexplored properties for economic mineralization. Kapa Gold has also optioned the historic Mastodon project in British Columbia, Canada, and is compiling historical data in advance of recommendations for exploration programs.

We seek Safe Harbor.