Mr. Ryan Jackson reports

NEWLOX GOLD PROCURES ALL EQUIPMENT FOR PLANT 2 ELECTRICAL UPGRADES

Newlox Gold Ventures Corp. has successfully procured all equipment needed to complete the planned electrical upgrade at its Boston project (Plant 2) in Costa Rica. All necessary components are now on site and in the company's possession. Of particular importance, given the global shortage of this equipment, is an electrical transformer, which has now been delivered and is awaiting installation on site.

The delivery of this equipment represents a significant milestone in the company's operations. The Boston project will soon benefit from connection to the Costa Rican grid, which is a stable and 98-per-cent-renewable-electricity system.

The Boston project is slated to become the company's second environmentally and socially responsible precious metal project in Costa Rica. The project will process feedstock newly extracted from the Boston mine by the company's local mining partners. At full scale, Newlox will operate the new Boston mill to process 150 tonnes per day of material grading plus or minus 15 grams per tonne gold with an anticipated gold recovery of 90 per cent. All feedstock is to be provided by the company's mining partners, with profits to be split evenly between the parties.

"Management is delighted to report that all the equipment required for the Plant 2 electrical upgrades, including the transformer, which is a potentially long-lead-time item, are now in the company's possession. Newlox Gold's electrical contractors are now working on the installation of the equipment according to the electrical plan, which has been approved by local regulators. The company will be providing updates to the market as this procedure advances," commented Ryan Jackson, chief executive officer of Newlox Gold Ventures.

Technical disclaimer

The company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Grab sample results included in any press release are not necessarily indicative of the mineralization in general for the deposit. James Turner, PGeo, a qualified person within the meaning of National Instrument 43-101, has prepared, supervised the preparation of and approved the contents of this news release.

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