Mr. Bruce Smith reports

RADIUS GOLD COMMENCES MAIDEN DRILLING PROGRAM AT ITS TROPICO PROJECT

Radius Gold Inc. has commenced drilling at its Tropico project located in the Fresnillo mining district in Zacatecas, Mexico. In the past few months, the company has defined targets and completed all preparations to commence drilling on this compelling epithermal gold-silver system.

Highlights:

• Tropico is a gold-mineralized hot-spring-type sinter and breccia pipe system;
• Radius plans a 2,000-metre drill program
• Targeting a Fresnillo-style high-grade precious-metal-mineralized system at depth below an outcropping sinter and breccia pipe;
• Also targeting bulk-minable, near-surface gold mineralization hosted within the outcropping 450-metre-by-200-metre breccia pipe;
• Tropico target has never been explored or drill tested by another operator.

President and chief executive officer Bruce Smith commented: "The Radius team is excited to have drilling under way at Tropico. We have been chasing this target for several years and now we can finally drill test it. Fresnillo is one of the world's greatest epithermal systems and to have optioned a gold-bearing sinter and breccia pipe target within this district that has not yet been drill tested is remarkable. "

About the Tropico target

The Tropico target is defined by surface mapping and geochemical sampling outlining a sinter and silicified breccia pipe with a strong gold-mercury-arsenic-antimony geochemical signature (see news release dated March 21, 2023). The Tropico gold system is roughly oval shaped, 450 metres long by 250 metres wide orientated north-northeast. A CSAMT (controlled-source audio-frequency magnetotelluric) survey defined a coherent resistive feature that precisely matched the surface geology, defining a robust pipe-shaped target that starts at surface directly below the outcropping silicification and extends to 800-metre depth at the maximum extent of the survey. The resistive target is approximately 10 times more resistant than adjacent host rocks (see news release dated June 7, 2023).

Location

The Tropico target is located 30 kilometres northwest of Fresnillo city in Zacatecas, Mexico. The Fresnillo mining district is one of the world's most productive epithermal systems and hosts the world's oldest continuously operating mines producing silver, gold, copper, lead and zinc for approximately five centuries, since 1554.

The district hosts over 150 veins, mantos and chimney deposits, including more than 30 large-scale ore producers, and it continues to deliver more recent discoveries that include the multimillion-ounce silver and gold producer, the Juanicipio project, a joint venture between Mag Silver and Fresnillo PLC.

Radius entered into an option agreement with local claim owners to acquire 100 per cent of the property in March, 2023 (see news release dated March 21, 2023).

Technical information

Bruce Smith, MSc (geology), a member of the Australian Institute of Geoscientists, is Radius's qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Smith has 28 years of mineral exploration experience and has prepared and approved the technical information contained in this news release.

About Radius Gold Inc.

Radius has a portfolio of projects located in Mexico and Guatemala, which it continues to advance, utilizing partnerships where appropriate in order to retain the company's treasury. At the same time, management is seeking out additional investment and project acquisition opportunities across the globe. Radius is a member of the Gold Group of companies, led by Simon Ridgway.

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