Mr. Rick Howes reports

REUNION GOLD ANNOUNCES AN INITIAL PIT-CONSTRAINED MINERAL RESOURCE ESTIMATE OF 2.475 M OZ AU IN INDICATED RESOURCES AND 1.762 M OZ AU IN INFERRED RESOURCES AT ITS OKO WEST PROJECT IN GUYANA

Reunion Gold Corp. has released an initial mineral resource estimate (MRE) at the Kairuni zone on its Oko West project in Guyana, with an effective date of June 1, 2023. The pit constrained MRE comprises 2,475,000 ounces of gold in indicated mineral resources contained within 41,789,000 tonnes grading 1.84 grams per tonne, and 1,762,000 ounces of gold in inferred mineral resources contained within 27,129,000 tonnes grading 2.02 g/t Au. The first attached table shows a breakdown of the MRE by tonnage, grade and total ounces (oz) of gold (Au), categorized by resource classification category. .

• The initial pit constrained mineral resource estimate (MRE) consists of 2,475,000 Moz Au in indicated mineral resources grading 1.84 g/t Au, and 1,762,000 Au in inferred mineral resources grading 2.02 g/t Au.
• Gold mineralization at the Kairuni zone remains open at depth, with high grade zones already demonstrated beneath the open pit constrained MRE in Block 4.
• The MRE confirms a distinct high-grade gold mineralized domain within Block 4, parallel to the Footwall Granitoid, which remains open at depth. This zone has been defined using 75 drill hole intercepts within Block 4. These intercepts averaged a grade of 7.38 g/t Au with an average estimated true thickness of 5.6 m.
• An infill and expansion drilling program continues on the Kairuni zone, with the intention of:
  • Expanding the high-grade domain in Block 4 to depth;
  • Expanding the volume of resources in blocks 5, 6 and 7;
  • Infill drilling of inferred resources to a drill spacing suitable for conversion to an indicated classification.
• In addition to the continuing drilling at the Kairuni zone, the company believes there is further potential to discover additional zones of gold mineralization outside of the Kairuni zone -- an exploration program including 15,000 m of combined RC and diamond drilling is initially planned to target these areas.
• This initial MRE will form the basis of a PEA study, expected by Q4 2023.

Rick Howes, president and chief executive officer of Reunion Gold, commented: "Today's maiden resource confirms Oko West as a quality multimillion-ounce gold discovery with potential for further growth. Thanks to our exploration team's hard work, in just 22 months of drilling, we have outlined a sizeable resource containing 60-to-100-metre thick saprolite cover, good grade continuity over a 70 metres average thickness to a depth of over 600 metres and with grades well above industry average. Further work is planned to both grow and infill this maiden MRE, which remains open to further expansion, particularly at depth. In addition, we continue to explore several other promising targets on our prospecting licence including the Bryan, Takutu and Carol zones. In parallel with the exploration programs, we intend to rapidly advance this exciting new discovery and plan to release a preliminary economic assessment (PEA) in the fourth quarter. We are pleased with this early success and we believe we have one of the best advanced exploration stage gold projects due to its size, grade, straightforward metallurgy, further potential and favourable jurisdiction."

David Fennell, executive chairman, added: "On behalf of the board, I would like to congratulate and thank the tremendous effort by the entire exploration team involved in the discovery of the Oko West gold deposit. I would particularly like to thank our former interim CEO, Carlos Bertoni, and credit his leadership of the team responsible for this discovery as the project advanced from initial drill testing through to the completion of resource definition drilling that resulted in a maiden mineral resource estimate after only 22 months of drilling. A greenfield discovery by a junior company is one of the most difficult challenges in the resource industry so this represents a tremendous accomplishment."

Key points from the MRE

• The majority of near-surface mineral resources, locally to depth of up to 300 m, are in the indicated category due to the company's early focus on infill drilling to ensure grade continuity.
• This initial MRE is defined over a strike length of 1,900 metres (m) where drill spacing has been sufficient to classify resources as either inferred or indicated, with a maximum constraining pit depth of 610 m.
• The company continues to investigate the potential to define underground resources at a higher-grade cutoff beneath the initial MRE. Mineralization continues beneath the MRE as illustrated by high-grade intercepts in holes D-200 and D-203.
• Resources comprise up to eight stacked mineralized zones, distinguished through various logged attributes including shear and brecciation intensity, alteration style, and vein density. The main zone, running parallel to the footwall granitoid and with a core of 20 m to 45 m thick, hosts a high-grade domain within Block 4 which was modelled within the MRE using 75 drill intercepts averaging 7.38 g/t Au over an average estimated true thickness interval of 5.6 m.
• An increase in estimated gold grade with depth is noted within the block model.
• The MRE contains 461,000 oz of gold in indicated resources with an average grade of 1.67 g/t Au comprising oxide and transition material below surface.

• A total of 504 drill holes totalling 92,015 m were included in the calculation of this MRE, comprising 72,604 m in 267 diamond drill holes and 19,411 m in 237 RC drill holes. A total of 68 trenches totalling 7,007 m were also included in the calculation.
• The strong continuity and consistency of the resource is illustrated in the third attached table, showing the MRE with different cut-off grades which illustrates the low level of sensitivity of the resource ounces contained in the MRE to changes in cut-off grade.
• As stated in the MRE summary notes under the second attached table, the key economic parameters used to determine the MRE include a gold price of $1,800 (U.S.) per ounce and a varying cut-off grade depending on weathering profile (0.30 g/t Au for saprolite and alluvium/colluvium, 0.33 g/t Au for transition, and 0.38 g/t Au for fresh rock).

Expansion and definition drill program at the Kairuni zone

The company is continuing drilling on the Kairuni zone with two main objectives: the first is to continue to expand the size of the MRE at the Kairuni zone and the second is to reduce the drill spacing in the inferred portions of the resource, with the view of upgrading those areas to an indicated classification. The resource expansion program at the Kairuni zone will be focused on two main areas: 1) drilling in blocks 5 and 6, which remain open and limited by the extent of drilling to date, and 2) expansion of the deposit to depth beneath Block 4, focusing on the high-grade domain identified within the MRE which remains open at depth. This zone has been defined using 75 drill hole intercepts within Block 4 with intercepts averaging a grade of 7.38 g/t Au and an average estimated true thickness of 5.6 m. Several of these holes are located below the outline of the resource pit depth of approximately 600 metres below surface, including hole D-245 which intersected 7.0 m at 6.02 g/t Au and hole D-244 which intersected 23.2 m at 5.36 g/t Au (see June 1, 2023, press release). Holes D-200 and D-203 drilled to a down dip depth of over 1,000 m beneath Block 4 indicate the continuation of gold mineralization at depth, related to the favourable stratigraphy and the shear zone (see Jan. 31, 2023, press release).

Potential to add additional ounces at Oko West outside of the MRE area

The company intends to continue with an extensive exploration program including 15,000 m of combined diamond and RC drilling with the aim of discovering additional areas of gold mineralization elsewhere on the Oko West project. Within the western Bryan zone, which lies upstream of areas of significant historical alluvial mining, the company has already completed an initial scout geochemical program which has indicated several promising areas requiring follow-up drilling. Follow-up RC drilling is currently under way at the Bryan zone. To assist with the continued drill program, the company has contracted an additional diamond drill rig, bringing the total rigs that Reunion Gold will have on site to six diamond drill rigs, one RC rig and one scout RC.

Working toward delivery of a PEA by year-end

In addition to its exploration program, the company continues to move its development program on the Kairuni zone forward with the assistance of G Mining Services Inc. The company is currently carrying out a PEA-level metallurgical study to define the preliminary processing flowsheet and indicative metallurgical performance and recovery of the Oko West mineralization. Given the significant depth of the resource and the discovery of a high-grade domain that is open at depth, both open pit and underground methods of extraction will be studied as part of the PEA. The company will also be conducting the second phase of the environmental baseline study in 2023 in preparation for submission of an environmental impact assessment anticipated in 2024.

Oko West project

The Oko West project comprises one prospecting licence issued to Reunion Gold, the company's 100-per-cent-owned Guyanese subsidiary, on Sept. 23, 2022. The prospecting licence has a surface area of approximately 10,890 acres (4,407 hectares). The Oko West project straddles the Cuyuni-Mazaruni mining districts in north-central Guyana, South America, and is located approximately 100 kilometres west-southwest of Georgetown, the capital city of Guyana.

Gold mineralization at Oko West lies along a north-south-striking contact between Barama group greenstone belt rocks to the west and a granitoid pluton to the east and can be classified as a shear-hosted, orogenic gold mineralization style, similar to many of the other gold deposits found in the Guiana Shield. The company began exploring the Oko West project in 2019 in recognition of the numerous historic alluvial workings that lead up to the now-recognized structural contact, with early airborne geophysics, stream and soil geochemical sampling, that led to successful trench intercepts announced in late 2020. This was followed by drill testing and the announcement of a greenfield discovery in early 2021, with the subsequent commencement of resource definition drilling over the main zone of mineralization, resulting in the MRE announced today.

Data validation

The drilling database used to estimate the mineral resources reported in this press release was reviewed by G Mining. A site visit was conducted by Christian Beaulieu, PGeo, to inspect mineralized intervals, alteration assemblages and QA/QC (quality assurance/quality control) protocols, and to conduct field checks of trenches and to validate drill collars. Database verifications consisted of drill logs (including lithology, alteration, weathering), assay certificates, sample intervals, drill hole collars, downhole survey information and QA/QC results validations.

Technical report and qualified persons

Details of the MRE will be provided in a technical report with an effective date of June 1, 2023, prepared in accordance with National Instrument 43-101 standards, which will be filed under the company's SEDAR profile within 45 days of this news release.

Christian Beaulieu, PGeo, consultant for G Mining, is an independent qualified person under NI 43-101 and responsible for the MRE. Mr. Beaulieu has reviewed and approved the scientific and technical information related to the MRE contained in this news release.

Justin van der Toorn, CGeol FGS, EurGeol, the company's vice-president of exploration and a qualified person under NI 43-101, has also reviewed and approved the scientific and technical information contained in this news release.

Live event on June 14, 2023, at 10 a.m. ET

Please join the company for a live event on June 14 at 10 a.m. ET. Rick Howes, president and CEO of the company, and VP of exploration, Justin van der Toorn, will discuss and answer questions on the MRE.

About Reunion Gold Corp.

Reunion Gold is a leading gold explorer in the Guiana Shield, South America. In 2021, the company made an exciting new gold discovery at its Oko West project in Guyana, where, to date, it has outlined continuous gold mineralization at the Kairuni zone over 2,000 metres of strike and to a depth of 600 metres. The mineralization appears to be open-pit amenable with a strong grade profile. In addition to Kairuni, there are several additional priority exploration targets on the Oko West project area that the company is exploring.

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