Mr. Rob Bergmann reports

RELEVANT GOLD BUYS OUT OPTION COMPLETING ACQUISITION OF 700 LEASED HECTARES AT ITS FLAGSHIP GOLDEN BUFFALO PROJECT

Relevant Gold Corp. has entered into a purchase agreement with Golden Buffalo Mining Company (GBMC) to complete the acquisition of 88 Bureau of Land Management mining claims (700 hectares) (the subject property) in the core of the company's 3,766-hectare Golden Buffalo property in the South Pass goldfield, Wyoming, United States. The subject property was previously held under a lease with option to purchase agreement with GBMC. Pursuant to the agreement, GBMC will receive (i) 1.5 million common shares of the company; (ii) up to three potential milestone payments more particularly described below; and (iii) a 3-per-cent net smelter return (NSR) royalty on the subject property.

Pursuant to the success-based milestone payments, GBMC will receive (a) a $1-million (U.S.) cash payment and 500,000 common shares of the company upon the completion of a National Instrument 43-101 compliant mineral resource estimate exceeding one million ounces of gold on the subject property; (b) a $1-million (U.S.) cash payment upon filing by the company of an NI 43-101 compliant feasibility study for the subject property; and (c) a $9-million (U.S.) cash payment upon the commencement of commercial production of the subject property or any portion thereof.

The purchase agreement eliminates the four remaining $300,000 (U.S.) annual lease payments and replaces the $15-million (U.S.) purchase price specified in the original lease option by issuing 1.5 million common shares of the company. Milestone payments are success-based and paid upon achieving each milestone. The NSR remains unchanged from the original lease option. Two per cent of the NSR can be repurchased for $5-million (U.S.).

"This agreement represents a big win for Relevant Gold in both the short and long term, allowing us to minimize our burn rate and safeguarding our flagship Golden Buffalo asset. The restructuring moves $16.2-million of calendar-triggered payments to success-based milestones," said Relevant Gold chief executive officer Rob Bergmann. "As a bonus, we get to bring two incredible operators onto the team, both of whom are now entirely aligned with the company's goals, and who will greatly strengthen our connection to local communities and day-to-day operations."

The 3,766-hectare Golden Buffalo property is one of the company's two flagship assets and has returned rock chip assays from trenching highlighted by 168 grams per tonne Au, followed up in 2022 by a top drilling intercept of 83.8 g/t Au over one metre in the first ever drilling program where 54 per cent of drill holes from the 3,500-metre program intersected shear-hosted gold mineralization (see Feb. 6, 2023, press release).

Technical team appointments

In addition to the agreement, the company is excited to announce the principals at GBMC will be joining the Relevant Gold team and fill two critical roles: (i) Jerome Hutchison will serve as communities adviser and site manager, and (ii) Jacob Tyra will serve as operations manager. As part of the service agreement, Mr. Hutchison and Mr. Tyra will each be issued 150,000 common share options at an exercise price of 20 cents. These options will vest over 12 months and expire on Jan. 9, 2027.

Mr. Hutchison -- community adviser and site manager

Mr. Hutchison was born and raised in Riverton, Wyo., and has lived, worked, and established businesses in Riverton and around the state. He formed a start-up company and grew it to an independent franchise with four storefronts throughout the state. Mr. Hutchison is active in the community, serving on multiple homeowner's boards, church boards, athletic boards and city committees. He started GBMC in 2019 with the acquisition of a gold-rich property in South Pass. His business and community affairs have brought reputable relationships and he is a respected member of the community.

Mr. Tyra -- operations manager

Born and raised in Wyoming, Mr. Tyra has more than 25 years of experience in the hard-rock mining industry. He got his start in uranium mining outside of Jeffery City, Wyo., and later worked on mining projects in Nevada, New Mexico, Idaho, Montana, Wyoming and Alaska where he worked as auperintendent at the Pogo mine. Mr. Tyra has extensive supervisory, management and safety training experience. He holds an Mine Safety and Health Administration blue card certification, an explosives permit, and was a captain in mine rescue teams.

About Relevant Gold Corp.

Relevant Gold is a North American gold exploration company focused on the acquisition, exploration, discovery and development of district-scale gold projects in the state of Wyoming -- one of the most mining-friendly jurisdictions in the United States and globally. Founded by experienced exploration geologists, Relevant Gold is managed by a highly respected team with a proven record of significant value creation for shareholders.

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