Mr. Scott Berdahl reports

SNOWLINE GOLD INTERSECTS 424.0 M OF 1.4 GRAMS PER TONNE GOLD FROM SURFACE INCLUDING 186.5 M OF 1.9 GRAMS PER TONNE GOLD ADDING NEW MINERALIZED EXTENSION TO VALLEY TARGET, ROGUE PROJECT, YUKON

Snowline Gold Corp. has released analytical results received from two additional exploration holes drilled on its Rogue project's Valley target in Canada's Yukon. Both holes -- drilled to the northeast as opposed to the usual southwest orientation of holes at Valley -- demonstrated consistent and considerable widths of strong mineralization in different parts of the system. Hole V-23-054 returned 424 metres of 1.43 grams per tonne gold, down hole from bedrock surface, expanding the known width of mineralization across the southern extent of the well-mineralized zone at Valley. In a separate interval in the same hole, the final 30 m downhole length averaged 0.70 g/t Au, representing a newly recognized area of deep mineralization at Valley that remains open. Both holes ended in mineralization. Assays for more than 11,400 m of diamond drilling from Snowline's 2023 exploration efforts remain pending.

"The current set of drill results includes yet another hole, in yet another part of the Valley intrusion, that expands the extent of known mineralization with an unusually high-grade intersection for a reduced intrusion-related gold system carried over hundreds of metres from surface," said Scott Berdahl, chief executive officer and director of Snowline. "We weren't expecting the length and intensity of gold mineralization encountered in V-23-054, nor to see it extend to depth in the southeastern part of the system, revealing a potential new zone of mineralization. Once again we are impressed by the scale and continuity of our Rogue project's Valley target, which remains open in multiple areas. We are keen to see how our understanding of the system evolves with the large quantity of drill assays that are forthcoming for the target."

Hole V-23-054

Hole V-23-054 is collared in coarse-grained granodiorite within the Valley intrusion as an 84 m step along strike to the southeast of the nearest hole, V-22-028 (363.5 m at 1.40 g/t Au from surface, including 129.9 m at 2.03 g/t Au, see Snowline news release dated Feb. 3, 2023). The hole is drilled to the northeast to efficiently test the near-surface southwestern margin of the Valley intrusion, and it tests the northeastern part of the mineralized corridor at depth in an orientation that crosscuts the dominant northwest strike of sheeted quartz veins.

From bedrock surface at 23.5 m down hole, an interval of continuous mineralization averages 1.43 g/t Au over the next 424 m, with a zone of generally higher grades averaging 1.85 g/t Au over 186.5 m from 66 m down hole. Two notable higher-grade zones average 4.73 and 4.79 g/t Au over 7.5 m and nine m, respectively, from 202 and 305.5 m down hole. A second mineralized interval begins nine m down hole from the end of the first and continues to the end of the hole at 497 m depth, averaging 0.54 g/t Au over 40.5 m and ending in mineralization. The final 30 m of the hole average 0.70 g/t Au. As with previous holes at Valley, mineralization within these intervals is remarkably consistent. Capping values at 10 g/t Au drops the overall grade of the first interval by just 0.73 per cent from 1.43 g/t Au to 1.42 g/t Au, and does not affect the grade of the second interval.

The results of V-23-054 demonstrate a robust width to strong grades in the southeastern part of the well-mineralized, near-surface corridor at Valley. In addition, the mineralization and grades seen in the bottom of the first interval and through the second interval reveal a new and open zone within the Valley intrusion where strong, consistent gold grades are present at depth.

Hole V-23-053

Hole V-23-053 is collared in hornfels sedimentary rock west of the Valley intrusion and is drilled to the northeast, roughly perpendicular to the general southwest orientation of most drill holes to date at Valley. A mineralized interval begins in the hornsfels and continues to the end of the hole, averaging 0.97 g/t Au over 424.5 m from 58.5 m down hole. Grades increase when the drill trace crosses into coarse-grained granodiorite of the Valley intrusion at 80.5 m down hole, averaging 1.04 g/t Au over 387 m down hole, including 153 m at 1.61 g/t Au from 172 m down hole. The hole crosses into a fine-grained porphyritic phase of the intrusion at 333 m depth and stays in this phase to the end of hole. The hole ends in mineralization, with the final 30 m of the hole averaging 0.50 g/t Au.

Gold grades in V-23-053 are not affected by grade capping at 10 g/t Au (highest assay is 9.62 g/t Au over 1.5 m from 412 m down hole), demonstrating the consistent nature of mineralization across the broad mineralized interval.

The consistent gold grades encountered in the hole suggest strong grade continuity between holes drilled in the roughly perpendicular southwest orientation. They also provide further evidence that a zone of mineralization, open to expansion, extends to depth along the western edge of the Valley intrusion, potentially as a halo around the fine-grained porphyritic phase encountered in the bottom of the hole.

Quality assurance/quality control

On receipt from the drill site NQ2-sized drill core was systematically logged for geological attributes, photographed and sampled at Snowline's 2023 field camp. Sample lengths as small as 0.5 m were used to isolate features of interest, but most samples within moderate to strong mineralization were one m in length; otherwise, a default 1.5 m downhole sample length was used. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently, dictated by orientation line where present or by dominant vein orientation where absent) collected for analysis and one-half stored as a record. Field duplicates were collected at regular intervals as one-fourth core samples by splitting the one-half core sent for sampling, leaving a consistent record of half core material from duplicate and non-duplicate samples alike. Standard reference materials and blanks were inserted by Snowline personnel at regular intervals into the sample stream. Bagged samples were sealed with security tags to ensure integrity during transport. They were delivered by expeditor to Bureau Veritas's preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

Bureau Veritas is accredited to ISO/IEC 17025 and ISO9001 for quality management. Samples were crushed by BV to greater than 85 per cent passing below two millimetres and split using a riffle splitter. Splits of 250 grams were pulverized to greater than 85 per cent passing below 75 microns. A four-acid digest with an inductively coupled plasma mass spectroscopy (ICP-MS) finish was used for 59-element analysis on 0.25-gram sample pulps (BV code: MA250). All samples were analyzed for gold content by fire assay with an atomic absorption spectroscopy (AAS) finish on 30-gram samples (BV code: FA430). Any sample returning greater than 10 g/t Au was reanalyzed by fire assay with a gravimetric finish on a 30-gram sample (BV code: FA530).

For the purposes of this release, mineralized intervals are defined as runs of mineralization with no break greater than five m assaying less than 0.1 g/t Au, including any subsections thereof.

About Rogue

The Valley target on Snowline's flagship Rogue project is a newly discovered, bulk-tonnage-style, reduced intrusion-related gold system (RIRGS), with geological similarities to multimillion-ounce deposits currently in production such as Kinross's Fort Knox mine in Alaska and Victoria Gold's Eagle mine in Yukon. Early drill results demonstrate unusually high gold grades for such a system, present near surface across drill intersections of hundreds of metres. Gold is associated with bismuthinite and telluride minerals hosted in sheeted quartz vein arrays within and along the margins of a one-kilometre-scale, mid-Cretaceous-aged Mayo-suite intrusion. Valley is an early-stage exploration project without a resource estimate, and while initial results are encouraging, the presence or absence of an economically viable orebody cannot be determined until additional work is completed.

The Rogue project area hosts multiple intrusions similar to Valley along with widespread gold anomalism in stream sediment, soil and rock samples. Elsewhere, RIRGS deposits are known to occur in clusters. The Rogue project is thus considered by the company to have district-scale potential for additional reduced intrusion-related gold systems.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with an eight-project portfolio covering greater than 333,000 hectares. The company is exploring its flagship greater than 94,000 ha Rogue gold project in the highly prospective yet underexplored Selwyn basin. Snowline's project portfolio sits within the prolific Tintina gold province, host to multiple million-ounce-plus gold mines and deposits including Kinross's Fort Knox mine, Newmont's Coffee deposit and Victoria Gold's Eagle mine. The company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

Qualified person

Information in this release has been prepared under supervision of and approved by Thomas K. Branson, MSc, PGeo, vice-president, exploration, of Snowline Gold, as qualified person for the purposes of National Instrument 43-101.

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