Mr. Pablo McDonald reports

SOLSTICE DELINEATES STRUCTURALLY COMPLEX AREA OF FERTILE PEGMATITES ON ITS STEWART LAKE PROJECT, NORTHWEST ONTARIO

Solstice Gold Corp. has provided an update on the exploration program at its Stewart Lake project (SLP) in the English River subprovince (ERS), approximately 275 kilometres north-northeast of Thunder Bay, Ont.

Solstice's 2023 exploration program covered the majority of the SLP property using road-, boat- and helicopter-based prospecting traverses, as well as an initial soil survey. Over 350 pegmatites have been delineated through 2023 prospecting and historical drilling and are widely distributed across the property. A combination of high pegmatite density, fertile mineral assemblages and elevated lithium in indicator minerals, summarized in this news release, define a broad swath of fractionated fertile pegmatites coincident with major regional structures in the east and southeast of SLP which Solstice believes suggest high potential for spodumene mineralization in the area.

Major faults traversing the property define a subdomain boundary zone. These juxtapose two structurally distinct granite-migmatite terrains and bound a regionally extensive iron formation and metasediment stratigraphy. The most fractionated pegmatites and most promising geochemical signatures are developed within these fault zones, especially where associated with the iron formation package. The most fractionated pegmatites occur mainly in the east and southeast part of the project area, where numerous pegmatites occur, some with thicknesses exceeding 25 metres and crystals of albite up to one metre across. Over 14 km strike length of this target area remains to be explored and will be the focus of exploration in 2024.

Pablo McDonald, Solstice chief executive officer, stated: "Our technically focused program of mapping, hand-held LIBS and whole rock geochemistry demonstrate that our district-scale SLP project contains an extensive, fractionated pegmatite field in an attractive structural setting. By analogy to the history of known lithium districts in Ontario, we believe that the potential for discovery of lithium mineralization at SLP is high. It is important to note that much of the target area that we have vectored towards remains open for exploration. The next step is to focus exploration on the 14 km target area that exhibits promising indicators of LCT [lithium-cesium-tantalum] fertility."

Pegmatite geochemistry compares favourably with established LCT pegmatite districts

Extensive geochemical analysis using LIBS (laser-induced breakdown spectroscopy) and whole rock geochemistry shows indicators of fertility across the property with the best values being found within the subdomain boundary structural zone, especially in its southeastern part of the project area. Whole rock geochemistry of these pegmatites compares favourably with other established pegmatite districts -- particularly the Quetico subprovince and the Allison batholith areas, both of which host numerous spodumene-bearing pegmatites and lithium deposits. Key results include:

• Elevated lithium in alkali feldspars: A total of 63 (22 per cent) of analyzed alkali feldspars contain detectable lithium, ranging from 10 parts per million to 2,080 ppm (that is, 0.45 per cent Li2O (lithium oxide)). Elevated lithium in potassium feldspar at SLP is widespread and is best developed in the southeastern part of the project area. Elevated lithium in alkali feldspar has been shown to be a reliable indicator for the presence of spodumene in lithium districts. The lithium contents and distributions of alkali feldspars at SLP are comparable with those found in these districts and are considered by Solstice to be a positive indication of potential spodumene mineralization. The distribution of elevated lithium in potassium feldspar at SLP is independently supported by whole rock data, particularly potassium/rubidium ratios, discussed below.
• Fractionated K/Rb ratios: Selway et al. suggest that K/Rb ratios below 270 are a good indicator of advanced fractionation in pegmatite exploration. Low K/Rb ratios are developed in several parts of the SLP project, particularly in the southeastern part of the project area. Analyses of K/Rb versus K/Cs plots for SLP pegmatites suggest that the SLP data fall within the fields of the Allison Lake batholith and Quetico areas (Ontario Geological Survey MRD111), both of which host lithium-bearing pegmatites and have lithium deposits.

Multielement soil anomalies define additional fertile pegmatite potential

Based on the development of fractionated pegmatites in the southeastern part of the project area, a test soil survey (Ah, humus) was carried out to determine the effectiveness of this technique to aid exploration of the largely overburden-covered iron formation target area which extends greater than 14 km to the west. Historical diamond drill logs of the iron formation reported in government files document extensive pegmatites over this strike length.

Soil survey results exhibit elevated multielement anomalism (lithium-rubidium-cesium-niobium-beryllium) adjacent to exposed pegmatites discussed above. Stronger anomalies are identified in other overburden-covered areas of the limited survey identifying new targets and demonstrating the utility of soils surveys in LCT pegmatite exploration. The strongest results define anomalies that crosscut the stratigraphic trend and are present where there is no outcrop or historical drilling. These anomalies suggest that an expanded soil program has the potential to delineate additional pegmatite targets.

David Adamson, Solstice chairman, stated: "Our first-pass exploration of this district-scale project has been very successful and confirms a newly identified area of fertile pegmatites in a permissive structural setting which we believe demonstrates good potential for lithium discovery. Our analysis of project data suggests that SLP is geochemically similar to other evolved pegmatite districts in Ontario that were subsequently found to host spodumene mineralization. Our goal is to replicate this success as we vector towards discovery."

Sampling and analytical protocols

Soils

An approximately 250-gram sample of Ah (humus) soil was collected in standard kraft sample bags at 100-metre stations along 200 m spaced lines. Samples were shipped to Activation Laboratories Ltd. (ActLabs) in Ancaster, Ont. At ActLabs, the sample was dried and 0.5 gram of sample material was digested using aqua regia and subsequently analyzed by inductively coupled plasma mass spectrometry analysis for 63 elements (package UT1). In addition to internal ActLabs controls, internal standards were inserted into the sample stream. ActLabs is independent of Solstice and its consultants.

Whole rock

Sample material weighing from one to two kg is selected and placed in plastic bags. Sample details and a GPS co-ordinate were recorded. A sample tag with the sample number is tied with flagging tape to an example of the sample and left in the field. A duplicate sample tag is placed in the sample bag. The samples were delivered directly to the lab in Thunder Bay, Ont., by Solstice employees. Analysis method: peroxide (total) fusion, inductively coupled plasma optical emission spectroscopy and ICP-MS with 55 elements that include detection levels for Li of 15 ppm to 50,000 ppm and Rb of 0.4 ppm to 5,000 ppm (ActLabs code UT7). Sodium peroxide fusion provides total metal recovery and is effective for the decomposition of sulphides and refractory minerals which are common to pegmatites.

Data sources

LIBS

Initial analysis of samples from Solstice's site visit was 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, but are independently confirmed by whole rock data (K/Rb values, for example). In addition, at least four analyses per mineral were carried out (two in Geochem mode, two in Element Pro mode).

About Solstice Gold Corp.

Solstice is an exploration company with quality, district-scale gold and lithium projects in established mining regions of Canada. Its 268 square km 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 km 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 km from the Red Lake mine complex owned by Evolution Mining. Its 322 square km Atikokan gold project is approximately 23 km from the Hammond Reef gold project owned by Agnico Eagle Mines Ltd. Its Qaiqtuq gold project, which covers 886 square km with certain other rights covering an adjacent 683 square km, hosts a 10 square km high-grade gold boulder field, is fully permitted and hosts multiple drill-ready targets. Qaiqtuq is located in Nunavut, only 26 km from Rankin Inlet and approximately seven km 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.

Solstice's chairman, Mr. 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 responsible for reviewing and approving the technical disclosures of this news release.

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