Mr. Ryan Jackson reports

NEWLOX GOLD COMPLETES ELECTRICAL UPGRADES FOR PLANT 2

Newlox Gold Ventures Corp. has successfully completed the planned electrical upgrade at its Boston project (plant 2) in Costa Rica. Technicians from the state-owned power company operated on site during the last week of January, 2024, to make the final connections and install the high-voltage electrical metre. With the power now connected, Newlox Gold has resumed the testing of plant 2 in anticipation of starting operations shortly.

Over the holidays, Newlox Gold received and installed equipment to facilitate the start of operations at plant 2. Of particular importance, given the global shortage of this equipment, was an electrical transformer, which was delivered and installed on site. The installation and connection of the power equipment represents a significant milestone in the company's operations. The Boston project now benefits 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 metals 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/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 the final electrical upgrades necessary to complete testing and begin operations at plant 2 are now complete. The company will be providing updates to the market as this procedure advances towards the start of commercial operations," commented Ryan Jackson, chief executive officer of Newlox Gold Ventures.

We seek Safe Harbor.