Mr. Pablo McDonald reports

SOLSTICE ACQUIRES NEW LITHIUM PROJECT IN THE EMERGING QUETICO LITHIUM DISTRICT, ONTARIO

Solstice Gold Corp. has acquired a 31-square-kilometre land position for the purpose of lithium pegmatite exploration located in the emerging Quetico lithium district, in the Long Lake area in Northwest Ontario, approximately 200 kilometres northeast of Thunder Bay and 40 kilometres from the town of Geraldton in Ontario, which is located on the Trans-Canada Highway. The claims were acquired through an option to acquire 100 per cent of seven multicell claims on the eastern flank of the district.

Emerging Quetico lithium district

Spodumene discoveries reported by exploration groups in 2023 are defining a greatly expanded area with high lithium potential within the Quetico subprovince. This Quetico lithium district is centred around the Georgia Lake lithium deposit (owned by Rock Tech). In 2023, a new spodumene discovery was reported by Pegmatite One (1) west of the Georgia Lake pegmatites adjacent to Solstice's Church and Purdom properties. Spodumene was also reported in 2023 to the east of Georgia Lake by Tearlach on its Georgina properties (2), which are adjacent to Solstice's Gathering Lake claims, optioned to Green Technology Metals. Solstice's newly acquired Kamuck property is located to the east of these discoveries and exhibits abundant pegmatite with fertility indicator minerals.

Key features of the Kamuck property

• The Kamuck property is located on the eastern edge of a grouping of government-mapped two-mica granites, which are important components in LCT pegmatite districts globally.
• Recent prospecting at Kamuck observed over 80 per cent pegmatite on a traverse on a promising 50-hectare feature identified by aerial imagery. The pegmatite is typically coarse-grained plagioclase feldspar with abundant indicators of fertility, including books of muscovite, garnet, cordierite and possible fluorapatite (3).
• The pegmatites observed at Kamuck occur within a high-potential 50-hectare (ha) area readily identified on satellite images. The area is defined by visible outcrops identical to areas mapped as pegmatite. There is no record of any exploration or detailed government mapping over the Kamuck area.
• Two thousand twenty-three exploration farther afield from known lithium properties has identified new spodumene occurrences confirming the potential for new discoveries in unexplored areas of an expanded Quetico lithium district.

Pablo McDonald, Solstice's chief executive officer, stated: "We have been tracking progress around the Quetico lithium district over the course of the past year and have seen the focus expand from the Georgia Lake area to include significant spodumene discoveries to both the east and west. A timely field visit of the Kamuck area confirmed the favourable geology and we are looking forward to exploring this new acquisition.

"The Kamuck property significantly strengthens our already solid lithium portfolio. Now our district-scale SLP project in the English River subprovince is complemented by three properties in the Quetico subprovince that have widespread thick pegmatites with good exposure, promising indicator mineralogy, and are very close to recent spodumene discoveries."

Kamuck option agreement terms

The company announces that it has entered into an option agreement dated Nov. 1, 2023, with 1544230 Ontario Inc. and Gravel Ridge Resources Ltd. to purchase the option to acquire the optionors' 100-per-cent interest in the Kamuck project.

In consideration for the grant of the option, Solstice must pay $10,000 in cash within 10 days of the effective date of the option agreement, and issue 200,000 common shares and as soon as practicable after TSX Venture Exchange approval, to the optionors. To exercise the option, the company must make payments according to the following: (i) a payment of $14,000 cash by the first anniversary of the option agreement; (ii) a payment of $20,000 cash by the second anniversary of the option agreement; and (iii) a payment of $28,000 cash by the third anniversary of the option agreement. Upon exercise of the option, the optionors will retain a 1.5-per-cent net smelter return (NSR) royalty on the Kamuck project. The NSR royalty includes a 0.5-per-cent buyback for $500,000.

No finders' fees are payable in connection with the option agreement. The option agreement remains subject to the approval of the TSX-V.

Analytical techniques

Initial analysis of samples from Solstice's site visit were done using a Sci-Labs Z-300 LIBS (laser-induced breakdown spectroscopy) analyzer. Lithium data were calibrated against LCT pegmatite standard GTA-06. Data should be considered semi-quantitative pending confirmation by other analytical techniques.

(1) Pegmatite One news release, "Pegmatite One Discovers High-Grade Lithium Mineralization During Extended Exploration at Frazer Lake Mound Property," Aug. 2, 2023.

(2) Tearlach news release, "Tearlach Resources Discovers Spodumene on Georgina Properties," Oct. 18, 2023.

(3) A dark green mineral was analyzed using a Sci-Labs Z-300 LIBS analyzer as described above under analytical techniques. Analysis of the spectra produced shows similarities to those of apatite and fluorapatite, including high relative concentrations of lithium and fluorine. Solstice is preparing separates to confirm mineral identification by X-ray diffraction.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the properties in which the company has an interest described herein.

About Solstice Gold Corp.

Solstice is an exploration company with quality, district-scale gold and lithium projects in established mining regions of Canada. The company's 268-square-kilometre SLP lithium property is located in the English River subprovince in an area that has recently garnered significant interest for its potential to host rare metals. Its 194-square-kilometre Red Lake Extension (RLX) and New Frontier projects are located at the northwestern extension of the prolific Red Lake camp in Ontario and approximately 45 kilometres from the Red Lake mine complex owned by Evolution Mining. The company's 322-square-kilometre Atikokan gold project is approximately 23 kilometres from the Hammond Reef gold project owned by Agnico Eagle Mines Ltd. Its Qaiqtuq gold project, which covers 886 square kilometres, with certain other rights covering an adjacent 683 square kilometres, hosts a 10-square-kilometre high-grade gold boulder field, is fully permitted and hosts multiple drill-ready targets. Qaiqtuq is located in Nunavut, only 26 kilometres from Rankin Inlet and approximately seven kilometres from the Meliadine gold mine owned by Agnico Eagle Mines. An extensive gold and battery metal royalty and property portfolio of over 80 assets was purchased in October, 2021. Over $2-million in value and three new royalties have been generated since the acquisition.

Solstice is committed to responsible exploration and development in the communities in which it works. For more details on Solstice Gold, its exploration projects and details on its recently acquired portfolio of projects, please see the company's corporate presentation available on its website.

Solstice's chairman, David Adamson, was a co-award winner for the discovery of Battle North Gold Corp.'s Bateman gold deposit and was instrumental in the acquisition of many of the district properties in the Battle North portfolio during his successful 16 years of exploration in the Red Lake.

Sandy Barham, MSc, PGeo, senior geologist, is the qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, responsible for reviewing and approving the technical disclosures of this news release.

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