Mr. Scott Berdahl reports

SNOWLINE GOLD COMMENCES 18,000+ METRE DRILL PROGRAM ON ITS YUKON EXPLORATION PROJECTS WITH NUMEROUS VISIBLE GOLD OBSERVATIONS IN DRILL HOLE

Snowline Gold Corp. has commenced its 2023 exploration and drilling program. Drill crews and geological staff recently mobilized to the company's 50-person Forks Camp, which supports its Rogue, Einarson, Ursa and Cynthia projects. Phase III diamond drilling is under way at the Valley zone on Snowline's flagship Rogue project to expand and advance the target toward an initial mineral resource estimate. Additional drilling and extensive surface work is planned across the Rogue project and Snowline's broader project portfolio.

"Following a transformative year in 2022, we are excited to be back in the field with a larger and more advanced 2023 exploration campaign," said Thomas Branson, Snowline's vice-president of exploration. "Our team has done fantastic work in getting us off to an early start. This season will see us pursue two key objectives: 1) to further advance the Rogue project's Valley discovery through efficient derisking and delineation, as the scale, grade and consistency of our 2022 results from Valley rank highly among near-surface, bulk-tonnage gold deposits and discoveries drilled anywhere in the world last year; and 2) to make additional drill discoveries at Rogue and on our broader project portfolio. We see Valley not only as an exceptional discovery, but also as a strong proof of concept for the geological potential of our district-scale and still largely unexplored land position."

2023 exploration campaign

Rogue project

Approximately 15,000 metres (m) of the 18,000-plus m of diamond drilling budgeted for 2023 is planned for the Rogue project, using the three drill rigs currently on site. Of this drilling, 10,000 m will target Valley, while the additional 5,000 m will be used for a phase II program at Gracie and for phase I drilling of additional targets. This work will be complemented by an extensive program of stream sediment, soil and rock sampling along with prospecting and geological mapping to follow up on various unexplained geochemical anomalies throughout the project, with the goal of generating additional new targets with potential for grade and scale. A project-level aerial ZTEM (Z-axis tipper electromagnetic) survey totalling roughly 3,000 line kilometres is planned and it may be complemented by additional magnetic or other geophysical surveying specific to individual targets. Additional details of the Rogue exploration campaign can be found in the company's May 2 news release.

Other Snowline properties

Outside of Rogue, the company is planning phase I drill programs on three or more additional projects using a fourth drill, following up on historical prospecting results and regional work done by the company over the last two field seasons. Following initial surface-based field programs commencing in June, drilling is expected to commence in mid-July. Potential targets for this drilling include:

• Tosh project, southwestern Yukon: Untested orogenic gold targets associated with one-kilometre and two-kilometre gold-in-soil anomalies, widespread alteration, and prospecting grab samples from below detection up to 6.8 grams per tonne (g/t) gold (Au) and up to 1.1 kilograms per tonne silver (Ag).
• Cliff project, southwestern Yukon: Untested orogenic gold target associated with a 1,600-metre-by-300-metre gold-in-soil-and-talus-fine anomaly with values averaging 0.179 part per million (ppm) (g/t) Au; up to 3.1 g/t Au in talus fines.
• Rainbow project, central Yukon: Untested reduced intrusion-related gold system (RIRGS) target associated with a one-kilometre-scale gold-bismuth-tellurium gold-in-soil-and-talus-fine anomaly along the edge of a two-kilometre to three-kilometre magnetic anomaly.
• Olympus project (formerly Golden Oly): Untested and partially tested RIRGS and porphyry targets associated with significant geochemical anomalies, acquired by Snowline in September, 2022.

The proportion and total amount of drilling planned for each target, along with certain other planned surface activities, are rough working guides and are adaptable based on drill results and other observations or factors throughout the season.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with an eight-project portfolio covering over 280,000 hectares.

Qualified person

Information in this release has been prepared under supervision of and approved by J. Scott Berdahl, MSc, PGeo, chief executive officer and director for Snowline and a qualified person for the purposes of National Instrument 43-101.

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