Mr. Kosta Tsoutsis reports

K9 GOLD STAKES 1274 HA, ADDING TO THE JB LITHIUM PROJECT, N. QUEBEC

K9 Gold Corp. has acquired an additional 25 claims (1,274 hectares) by direct staking as part of the company's JB lithium project in the James Bay region of Northern Quebec. This will bring the total project holdings to 6,692 hectares in 130 claims. An aggressive summer exploration is now planned and is fully financed.

The Lac Laribosiere-Tilly (LL-T) property is located approximately 60 kilometres due north of the previously announced Lac Joubert-Tilly (LJ-T) property on the JB lithium (Li) project. The LL-T property is located approximately 380 kilometres east of Radisson, Que. Other projects in the area include Allkem's James Bay lithium project, which recently received federal approval for development, Patriot Battery Metals' Corvette project, located 50 kilometres to the west, and Winsome Resources' Lithium Adina project, located approximately 40 kilometres to the west. The LL-T property is underlain by a package of Archaean rocks that is similar to the geological setting of the Corvette and Adina projects, and includes outcrops of Tilly pegmatites, a known host of lithium in the James Bay region.

K9 has recently completed a helicopter-borne magnetometer and VLF survey on the project. Results will be reported on completion of data interpretation. A Lidar (light detection and ranging) and photogrammetry survey is scheduled for the project in early June, 2023, to be followed by an extensive program of soil sampling, prospecting and mapping. However, this may be delayed as the Quebec Ministere des Ressources Naturelles et des Forets has recently placed a ban on all fieldwork due to the forest fire situation.

Jeff Poloni, president and chief executive officer of K9, commented, "We are very excited to add to our JB lithium project in an area that is turning out to be extremely prolific for lithium exploration."

About JB lithium project

The JB lithium project is located in the La Grande subprovince of the Archaean Superior province in Quebec, and comprises three units, the Riviere Salomon property (see the company's news release dated Nov. 15, 2022, for property details), the Lac Joubert-Tilly property (see the company's news release dated May 25, 2023) and the newly staked Lac Laribosiere-Tilly.

Lac Laribosiere-Tilly (LL-T) property

The geology of the LL-T property is underlain mainly by the Archean Joubert suite and the Neoarchean Coates suite. Where the Joubert suite occurs on the property, it consists of a package of foliated, banded or gneissic biotite-tonalite and granodiorite. The rocks of the Coates suite have been described as biotite tonalite or granodiorite.

Within the property boundaries, both the Joubert suite and the Coates suite have been intruded by a broad zone of Tilly pegmatites, which comprise pegmatitic granite with biotite-muscovite-tourmaline-magnetite-garnet assemblages. These pegmatites are a significant lithium target for other explorers in this area. A 1998 Quebec government geological mapping program located one outcrop of Tilly pegmatites. Government mapping also indicates that the property is transected by diabase dykes of the Mistassini dike swarm.

About K9 Gold Corp

K9 Gold has assembled a highly experienced and dynamic team to explore its JB lithium project. K9 also operates the Stony Lake gold project in central Newfoundland. The project has been acquired from District Copper Corp. by an option agreement, whereby K9 can earn up to a 100-per-cent interest in the project (see the company's news release dated July 30, 2020). The company also owns a 100-per-cent interest in the Desert Eagle vanadium-uranium project, located in the historic Henry Mountains mining district in southeast Utah. The area has seen extensive historic vanadium and uranium mining and is close to Anfield Energy Inc.'s Shootaring Canyon mill.

To ensure a safe workplace environment that protects the health and safety of employees and contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines regarding COVID-19.

Chris M. Healey, PGeo, chief geologist and a director of K9, is the qualified person under National Instrument 43-101 guidelines who is responsible for the technical content of this release and approves its release.

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