Mr. Robert Valliant reports

NEWORIGIN ANNOUNCES EXTENSION OF NON-BROKERED PRIVATE PLACEMENT AND MANAGEMENT CHANGE

The TSX Venture Exchange has agreed to extend the closing of Neworigin Gold Corp.'s non-brokered private placement financing, first announced on Jan. 17, 2024, to on or before April 3, 2024. The offering shall comprise the sale of up to 15 million flow-through (FT) units at a price of six cents per FT unit, for total gross proceeds to the company of up to $900,000, and 10 million common share units at a price of four cents per common share unit, for total gross proceeds of up to $400,000. All terms of the offering other than the extension of the closing date as described herein remain unchanged.

The securities issued pursuant to the offering will be subject to a statutory four-month-and-one-day hold period. Closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the TSX-V.

Proceeds from the sale of the FT units will be used by the company primarily to conduct a diamond drilling program at its Sky Lake gold project in Northwestern Ontario. The gross proceeds raised from the sale of common share units will be used for general working capital purposes.

The Sky Lake project is 100 per cent owned and comprises 446 single-cell claims and 29 patent mining claims covering a 27-kilometre-long, prospective, gold-bearing rock sequence. The patent claims host a small, historical gold resource (non-compliant with National Instrument 43-101) that was discovered and partially delineated during the 1950s. This resource was briefly examined during the 1980s by LAC Minerals Ltd. and no other resource drilling has been conducted since then. Sky Lake is favourably located near infrastructure southwest of the Pickle Lake gold mining district and along trend from the past-producing Golden Patricia mine to the west and the Dona Lake mine to the east. Neworigin has conducted geological, geophysical and geochemical surveys at Sky Lake to assist with the evaluation of targets for drilling, aimed at expanding the historical mineral resource estimate and testing new high-priority targets.

The company also announces that Andrew Thomson has stepped down from his roles as chief executive officer and lead director of Neworigin, but will remain as a director of the company. Mr. Thomson served in the former positions to enable the company to initiate the search for a full-time president, however, his work obligations with other entities has necessitated his reduced role with Neworigin. The company wishes to thank Mr. Thomson for his service and dedication in his role as CEO over the last three years. Robert Valliant, the company's chairman, will act as interim CEO while new candidates for the position are being considered.

About Neworigin Gold Corp.

Neworigin is a Canadian exploration company focused on drill discovery at its gold projects in the Canadian Shield. Neworigin's management and board have extensive experience in the delineation and development of gold deposits. Neworigin trades on the TSX Venture Exchange under the ticker NEWO.

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