Mr. Rick Howes reports

REUNION GOLD ANNOUNCES STRONG DRILL RESULTS INCLUDING INTERSECTS OF 71.0 M @ 5.77 G/T GOLD AND 88.8 M @ 4.13 G/T GOLD FROM ITS DEEP DRILLING PROGRAM (BELOW 500 M DEPTH) AT ITS OKO WEST PROJECT IN GUYANA

Reunion Gold Corp. has released positive drill results from its continuing infill and deep drilling programs. The infill program is designed to upgrade the classification of the inferred mineral resources within the maiden mineral resource estimate (MRE) to an indicated category. The deep drilling program is aimed at testing and defining the potential for an underground resource at depths greater than 500 metres below surface.

• Drilling for the conversion of inferred category to indicated category resources continued within the MRE pit constraint, and continued to deliver expected high grade intersects including D-328 intersecting 75.0 metres (m) at 4.07 grams per tonne Au (gold), D-288A intersecting 100 m at 2.24 g/t Au, and D-243-W2 intersecting 98.8 m at 2.13 g/t Au.
• Drilling below the MRE pit shell, at depths of 500 to 800 metres below surface, has continued with the objective of defining an underground resource. Highlights from drill holes at these depths include D-243-W1 intersecting 71.0 m at 5.77 g/t Au, D-316 intersecting 88.8 m at 4.13 g/t Au, including 10.8 m at 14.96 g/t Au and 21.8 m at 6.45 g/t Au, and D-320 intersecting 20 m at 4.41 g/t Au.
• With continued strong results from this deep drilling program, the company has made the decision to delay the delivery of a PEA until the end of Q2 2024 to include an underground resource, and to include the economic assessment of a potential combined open pit and underground mining operation.

For a detailed list of results associated with this press release, please see Reunion Gold's website.

"We are very encouraged with the results of the deep drilling program to date, which indicate the potential for a high-grade zone at depth," said Rick Howes, president and chief executive officer of Reunion Gold. "With these results, we see the potential to add significant value as a combined open pit and underground project and therefore we intend to continue the depth extension drilling program and delay the release of the PEA to allow for inclusion of an underground resource and evaluation of combined open pit and underground option to the PEA study, which we would expect to release in Q2 of 2024."

Deep drilling program

Highlights of results from the deep drilling program below Block 4 can be seen in the first attached table and a figure in the original release, which reports the broader intervals using a 0.3 g/t cut-off and includes the higher-grade intercepts using a 1.5 g/t cut-off. In addition to hole D-243-W1, results of note include holes D-316 and D-320, both of which reported high-grade gold intercepts, representing a significant expansion of known mineralization at depth. These intercepts are being interpreted as the depth extension of the high-grade zone that was identified in the maiden MRE reported on June 13, 2023 (see associated press release on that date). Hole D-316 intercepted 88.8 m at 4.13 g/t Au, including 10.8 m at 14.96 g/t Au from 772.4 m to 783.2 m downhole and 21.8 m at 6.45 g/t Au from 787.9 m to 809.7 m downhole (reported using a 1.5 g/t cut-off grade). Hole D-320 reported 83.0 m at 1.92 g/t including 3.0 m at 4.79 g/t Au from 777 m to 780 m downhole and 20.0 m at 4.41 g/t Au from 800 m to 820 m downhole. Hole D-243-W1 reported significant high-grade intercepts including 71.0 m at 5.77 g/t Au from 504.0 m to 575.0 m downhole.

"Ongoing structural work is continuing to demonstrate a steep northerly plunge to our high-grade zone, which sits within the larger volume of mineralization apparent along the two km trend from Block 1 through Block 4 to blocks 5 and 6. The high-grade zone appears to have a relatively sharp boundary along its southern margin, an orientation confirmed through structural analysis of our oriented drill core, although we are confident that drilling to date is demonstrating a 150 m to 300 m wide high-grade zone of mineralization that plunges well below the drill holes reported in this release," Justin van der Toorn, vice-president of exploration for Reunion Gold, explained.

Infill drill results

The infill drilling program is designed to upgrade the inferred resources within the MRE pit shell to an indicated mineral resource category. The drill results shown in the second attached table and a figure shown in the original version of this release continue to illustrate the strong continuity of the mineralization within the MRE pit constraints. Highlights include D-328, which intersected 75 m at 4.07 g/t Au, hole D-288A which intersected 100 m at 2.24 g/t Au, hole D-243W2 intersecting 98.8 m at 2.13 g/t Au and hole D-325A intersecting 67.2 m grading 3.06 g/t all reported using a 0.3 cut-off. The infill drill program will be completed by the end of this year.

Update on release of PEA

With the strong results that have been reported from the deep drilling program, which confirm the potential for the higher-grade zone to continue at depth, the company has decided to delay the release of the PEA until the end of Q2 2024. This will allow the company to continue to drill the high-grade zone down to a depth of approximately 1,000 metres with the goal of including an underground mineral resource for use in the PEA. In addition, it will give the company time to investigate the potential to develop a combined open pit and underground mining operation as part of the PEA. The PEA will also look at, amongst other things, the optimal transition point between open pit and underground mining as well as the sequencing of the potential underground mine.

Exploration

In addition to the ongoing drilling at the Kairuni zone the company also continues to advance its exploration programs on the remainder of the Oko West prospecting licence with the implementation of ground magnetics and IP geophysical surveys, RC drill programs and follow-up diamond drill programs.

Drilling to the south of Block 4, on blocks 5, 6, and 7, focuses on the southern continuation of the main Kairuni mineralized trend and contact zone. Follow-up diamond drilling in this area has intersected additional zones of mineralization as shown in a figure in the original version of this release, and as detailed in the associated tables of significant intervals available on the company's website.

Follow-up of the geochem anomalies generated from shallow Scout RC drilling (sampling below the duricrust) on the High Road target commenced with 23 conventional RC holes completed, for a total of 2,444 m of drilling. The location of these RC drill collars on the High Road target area, located approximately two km northwest of the Kairuni MRE, is shown in a figure in the original version of this release. Assays were received for five of these holes, with R-1414 reporting 3.0 m at 8.75 g/t Au from 58.0 m downhole. Further assays are pending for this High Road target area and other new target areas.

Sample collection, assaying and data management

Significant intervals in this press release have been calculated using a grade cut-off of 0.3 g/t Au, a minimum length of 10 metres, and up to 10 metres maximum length of consecutive internal waste. Included significant intervals have been calculated using a grade cut-off of 1.5 g/t Au, a minimum length of three metres and up to two metres maximum length of consecutive internal waste. Gold grades are uncapped. Mineralized intersection lengths are not necessarily true widths and estimated true thickness (ETT) has been calculated using an assumed plane of mineralization dipping 65 degrees toward 95 degrees, representative of the mineralization identified in Block 4. Complete drilling results and drill hole data are posted on the company's website. Diamond drill (DD) samples consist of half of either HQ or NQ core taken continuously at regular intervals averaging 1.4 m, bagged, and labelled at the site core shed. Reverse circulation (RC) drill samples are obtained from a rotary splitter attached to a Metzke cyclone, weighed, bagged and tagged at the drill site. All resource drilling samples are shipped to the Actlabs certified laboratory in Georgetown, Guyana, respecting best-practice chain of custody procedures. Samples from the Scout RC program and recent conventional RC samples are shipped to MS Analytical in Georgetown using the same chain-of-custody procedures. At each laboratory, samples are dried, crushed to 80 per cent passing two millimetres, riffle split (250 g) and pulverized to 95 per cent passing 105 mum. Coarse blanks are inserted by the company, and are used between and following suspected high-grade intervals. Barren sand flushes are inserted by the analytical laboratory after each sample is pulverized to clean the bowl. Gold analysis is carried out through a 50 g fire assay with an atomic absorption finish. Initial assays with results above 3.0 g/t Au are reassayed with a gravimetric finish. Samples with visible gold are additionally assayed with a metallic screen method using one kilogram of pulp. Certified reference materials and blanks are inserted at a rate of 5 per cent of samples shipped to the laboratories. RC field duplicates and DD umpire pulp duplicates are also generated at a rate of 5 per cent of samples. Pulp umpire duplicates are analyzed at the MSALabs certified laboratory in Georgetown. Assay data is subject to QA/QC (quality assurance/quality control) prior to accepting into the company database managed by an independent consultant.

Qualified person

The technical information in this press release has been reviewed and approved by Justin van der Toorn, the company's VP, exploration. Mr. van der Toorn (CGeol FGS, EurGeol) is a qualified person under Canadian National Instrument 43-101.

About Reunion Gold Corp.

Reunion Gold is a leading gold explorer and developer in the Guiana Shield, South America. In early 2021, the company announced an exciting new greenfield gold discovery at the Kairuni zone on its Oko West project in Guyana, where in June, 2023, after 22 months of resource definition drilling, the company announced an initial mineral resource estimate containing 2,475,000 ounces of gold in indicated resources grading 1.84 g/t Au and 1,762,000 oz of gold in inferred resources grading at 2.02 g/t (see NI 43-101 technical report Oko West gold project, Cuyuni-Mazaruni mining districts, dated effective June 1, 2023, available under the company's profile on SEDAR+). In addition to advancing development of the Kairuni zone resource, the company is actively exploring several additional priority exploration targets at Oko West with the objective of outlining additional satellite deposits.

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