Mr. Rob Solinger reports

KESTREL GOLD - SAMPLES UP TO 2.051 G/T AU AT KING SOLOMON'S DOME, FOLLOW-UP DRILLING PLANNED

Kestrel Gold Inc. has released preliminary results from the 2023 prospecting program on its 100-per-cent-owned King Solomon Dome property (KSD). The property is located in the Yukon portion of the Tintina gold belt, 35 minutes by road south of Dawson City, within the famous Klondike placer gold district. Creeks draining KSD have produced significant amounts of placer gold, and Kestrel is evaluating the property's potential to host economic bedrock sources for this gold.

The target at KSD is an orogenic-style north-south-trending quartz vein system located over an approximate 1.0-kilometre-east-west-by-2.2-kilometre-north-south area. The 2023 program focused on the Dominion Creek drainage basin, which drains the southern portion of the property. Prospecting of new road cuts and active placer pits in this area identified numerous areas of sheared, quartz veined, pyritic and carbonate-altered bedrock or rubblecrop, sampling of which returned values ranging from less than 0.005 to 2.051 grams per tonne gold. Gold recovered by the placer mining in this area is very angular, rough and ragged, and is often found attached to quartz or weathered pyrite cubes. Permits are in place, and a reverse circulation drill program is currently planned to start shortly.

Rob Solinger, president and chief executive officer of Kestrel, stated: "Our 2023 prospecting program focused on brand new exposures located within placer mining pits and road cuts, and encountered numerous areas of quartz veined, altered and sheared bedrock. The gold being produced by the placer miner is very angular, rough and ragged, and is often found attached to quartz or weathered pyrite cubes, which we feel indicates that a source or sources is located nearby. The drill program, which is to start shortly, will test several altered and mineralized areas identified by our field crew."

Sample preparation was completed by Bureau Veritas Minerals at its Whitehorse, Yukon, facility with analyses completed at its Vancouver, B.C., facility. Rock sample preparation was by method PRP70-250. All samples were analyzed using methods FA430 (30-gram fire assay and AAS finish) for gold and AQ300 (0.5-gram 34-element ICP ES) for multielement analyses. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory.

Qualified person

Derek Torgerson, PGeo, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Kestrel Gold Inc.

Kestrel is an exploration company headquartered in Western Canada and focused on the Canadian Cordillera. It is earning 100-per-cent interests in the QCM property, which is an orogenic gold target located in the Manson-Germanson placer district, and the Fireweed property, an advanced-stage silver-rich polymetallic epithermal target. Kestrel also owns a 100-per-cent interest in the KSD property, which is an orogenic gold target located in the Yukon portion of the Tintina gold belt. Kestrel is listed on the TSX Venture exchange under the symbol KGC.

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