Mr. James Mackie reports

MAJESTIC COMPLETES ON ACQUISITION OF SHARES IN TARGET COMPANY

Majestic Gold Corp. has provided an update to its Jan. 13, 2025, and Nov. 25, 2024, news releases announcing its share purchase and capital increase agreement for the acquisition of a 52-per-cent interest in the target company and the Muping gold project, through its 70.5-per-cent-owned subsidiary, Persistence Resources Group Ltd.

The company is pleased to announce that all conditions precedent to the agreement have been satisfied and the company now, through its subsidiaries, holds approximately 52 per cent of the equity interest in the target company. The company has become its controlling shareholder and, consequently, the target company is now a non wholly owned subsidiary of the company and its financial results will be consolidated into the company's financial statements.

About Majestic Gold Corp.

Majestic Gold, a British Columbia-based company, is a low-cost junior gold producer engaged in commercial gold production at the Songjiagou gold mine in eastern Shandong province, China.

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