Mr. Pablo McDonald reports

SOLSTICE GOLD ANNOUNCES CLOSING OF UPSIZED PRIVATE PLACEMENT

Solstice Gold Corp. has closed its previously announced private placement financing for gross proceeds of approximately $1.1-million through the issuance of:

1. Common shares (the Ontario FT shares) of the company to residents in Ontario at a price of 8.5 cents per Ontario FT share, each Ontario FT share qualifying as a flow-through share for purposes of the Income Tax Act (Canada) (the ITA);
2. Common shares (the national FT shares and together with the Ontario FT shares, the flow-through shares) at a price of 6.8 cents per national FT share, each national FT share qualifying as a flow-through share for purposes of the ITA;
3. Units of the company at six cents per unit, each unit comprising one common share of the company and one-half warrant where one full warrant is exercisable for one share at 10 cents for 12 months from the closing date of the offering.

This represents an upsize to $1.12-million from the company's previously announced $1-million anticipated gross proceeds of the offering. The use of proceeds from the offering will be used to finance exploration programs qualifying as Canadian exploration expenses and flow-through mining expenditures, and for general corporate and working capital purposes with the majority of the offering proceeds funding a follow-up drill program exploring the new Red Cedar discovery at the company's Strathy gold project in Temagami, Ont.

The offering was conducted in reliance upon available exemptions from the prospectus requirements of applicable Canadian securities laws. All securities issued under the offering are subject to a hold period of four months and one day from closing of the offering in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange.

The purchase by insiders of the company of an aggregate of one million units and 788,235 FT shares representing approximately $117,000 of the gross proceeds of the offering constitute related party transactions of the company under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Pursuant to sections 5.5(b) and 5.7(1)(a) of MI 61-101, the company is exempt from obtaining formal valuation and minority approval of the company's shareholders respecting the purchase of securities under the offering by related parties as the fair market value of securities purchased under the offering by related parties is below 25 per cent of the company's market capitalization as determined in accordance with MI 61-101.

A total of 44,118 shares were issued to Raymond James and 21,000 shares were issued to Haywood as finders' fees.

About the Strathy gold project

The Strathy gold project is an extensive 41-square-kilometre land package in the Archean-age Temagami greenstone belt, which is the southernmost extension of the Abitibi subprovince in Ontario. Solstice's first drill program on the project intercepted the Red Cedar discovery: an intercept of 8.52 grams per tonne Au over 3.5 metres. The discovery hole is located in the largest IP anomaly on the project which is open to the north and east. Located on the Trans Canada Highway, the project has excellent access to infrastructure and mining expertise. In addition to the recent Red Cedar discovery, the Strathy gold project contains documented, widespread high-grade gold mineralization, hosting historic intercepts of 5.00 grams per tonne Au over 7.28 metres and 7.66 g/t Au over 7.25 m (core lengths) at vertical depths of approximately 50 to 100 metres below surface, and documented surface sample results of up to 62.7 g/t Au. Despite this demonstrated prospectivity, the core claims at Strathy have not been systemically explored in the past.

About Solstice Gold Corp.

Solstice is an exploration company with quality, district-scale gold projects in established mining regions of Canada. The company's 41-square-kilometre Strathy gold project hosts high-grade gold mineralization over a wide area straddling two northeast-southwest-trending structures. It is located in the Abitibi subprovince of the Superior Craton and has never been systematically explored in its history. A recent 17.5 line km Alpha IP survey defines 50 new targets on SGC claims. Large, continuous IP anomalies are structurally linked to areas of significant gold intercepts and are largely untested, presenting the opportunity for significant discovery.

The company's Qaiqtuq gold project covers 662 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 Ltd.

The company's district-scale Atikokan gold project is approximately 26 km from the Hammond Reef gold project owned by Agnico Eagle Mines Ltd. The company's 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.

An extensive gold and battery metal royalty and property portfolio of over 80 assets was purchased in October, 2021. Well over $2.5-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 the company works. For more details on Solstice Gold, the company's exploration projects and details on its recently acquired portfolio of projects please see the company's corporate presentation available at the company's 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 responsible for reviewing and approving the technical disclosures of this news release.

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