Mr. Scott Berdahl reports

SNOWLINE GOLD PROVIDES SUMMARY OF MILESTONE YEAR AND LOOKS AHEAD TO 2024

Snowline Gold Corp. has provided a summary of key activities and achievements over the past calendar year. The scale and strength of the Valley gold target on the company's Rogue project have quickly come into focus on the back of a safe, productive and efficient 16,000-metre drill program at Valley, with clear upside potential both at the target level and the regional scale. All five of five phase I drill programs completed by the company in this district on five different targets to date have hit instances of visible gold and zones of anomalous gold mineralization, demonstrating widespread regional fertility. In total, the company drilled 22,000 m in 2023 across six targets. Extensive surface exploration has advanced additional untested targets and led to the identification of new targets. With more than $35-million in the treasury, the company is well positioned for an active and rigorous exploration campaign in 2024 on its greater-than-330,000-hectare land position in the fertile Selwyn basin.

Snowline's top five highlights from 2023:

1. Consistently strong results: Drill results from the Valley target consistently show robust grade, scale and continuity of gold mineralization beginning at or near surface, with highlight intervals averaging 2.48 grams per tonne gold over 553.8 m (drill hole V-23-039) and 2.46 g/t Au over 519.6 m (V-23-061), both from surface; these are the best drill intersections on an interval-by-grade basis that the company is aware of from any gold project in the history of Yukon;
2. Positive metallurgy: Initial metallurgical tests demonstrate high gold recoveries and non-refractory gold mineralization at Valley; recoveries from non-optimized, conventional processing techniques averaged 94.1 per cent (bottle roll cyanidation), 95.4 per cent (flotation) and 95.7 per cent (carbon-in-leach) on 75-micron grinds;
3. Environmental stewardship: Received the 2023 Robert E. Leckie Award for Excellence in Environmental Stewardship from the government of Yukon in recognition of the company's efforts in early-stage baseline environmental monitoring, renewable energy system installation and use, progressive reclamation of disturbed sites, reclamation of an abandoned exploration camp from the 1990s, and active research for effective, site-specific reclamation strategies for future development;
4. Financial strength: Raised a total of $35.7-million at an average 75-per-cent premium to market in two financings, allowing for non-dilutive growth through an increased exploration program;
5. Value creation: 70-per-cent appreciation in share price to date from Jan. 1, 2023, delivering considerable returns to shareholders for the third consecutive year since Snowline's launch in 2021 (133-per-cent appreciation in 2021, 333 per cent in 2022).

"Our work in 2023 highlights the unique nature of the gold discovery at the Valley target on our Rogue project," said Scott Berdahl, chief executive officer and director of Snowline. "The remarkable consistency and continuity of strong gold values at Valley across hundreds of metres of length, width and depth beginning from surface -- with clean, non-refractory mineralization -- makes not just for an exciting discovery story, but for a special asset with hallmarks of a system capable of delivering sustainable value to shareholders and to local economies for decades to come. Additional surface work and drilling on other targets suggest strong regional fertility across much of our greater-than-3,300-square-kilometre property portfolio and the potential for Valley-style mineralization at multiple other targets within the Rogue plutonic complex. I would like to congratulate our entire team on an incredible year, and to thank our investors, service providers, suppliers, consultants and partners who have made this possible and who continue to support us as we advance our targets and grow as a company."

Additional highlights from 2023 include:

• B2Gold's validation of Snowline's discovery success, with the former building a 9.9-per-cent stake in Snowline during 2023 through a combination of direct investment and on-market equity acquisition;
• Formal coverage initiated by six independent industry analysts;
• Institutional ownership growth to over 17 per cent of outstanding shares;
• Consolidation of the Rogue plutonic complex -- a highly prospective regional geological feature roughly 30 by 60 km in size defined by a cluster of intrusions with genetic and temporal associations to the Valley intrusion -- through direct staking and the purchase of select pre-existing mineral interests;
• Appointment of Calum Morrison -- former chief financial officer of Great Bear Resources (acquired by Kinross in 2022 for $1.8-billion) and former CEO of Great Bear Royalties (acquired by Royal Gold in 2022 for $200-million) -- to strengthen Snowline's board of directors, and the appointment of Thomas Branson, PGeo, to vice-president, exploration;
• TSX Venture Exchange listing established to provide exposure to a broader landscape of investors;
• State-of-the-art data management system and database developed in-house for efficient real-time data collaboration between multiple projects, camps and field sites;
• Permanent, year-round office established in Whitehorse, Yukon, to facilitate exploration and potential future development of projects;
• Advancement of all Yukon projects, with extensive geological, geophysical and geochemical surface programs safely and successfully completed in Snowline's biggest exploration campaign to date, moving new targets toward drill readiness across Snowline's extensive Yukon exploration portfolio.

2024 exploration plans

With a strong treasury, three diamond drills parked on site at Valley and plans to mobilize a fourth drill, Snowline is looking forward to another highly active exploration season in 2024. Through the year, the company will adhere to its commitment to safe, environmentally sound and socially responsible exploration, building on its economic engagement within Yukon and further strengthening lines of communication, engagement and collaboration with first nations and Yukon communities.

The scale and nature of the 2024 program will be finalized early in the coming year, but the program will have two primary objectives: 1) to advance the Rogue project's Valley target, which remains open, both through exploration and through a push toward collecting requisite information for economic assessment and rigorous baseline with a focus on future advanced permitting; and 2) to follow up on promising results from other targets on Rogue and on the company's surrounding property positions with the goal of establishing a new gold district.

As of December, 2023, the company is permitted to build and operate a second 50-person camp on site at the Valley target, in additional to its current Forks camp 17 km away. Construction of the Valley camp in 2024 will facilitate efficient exploration at Valley and free resources for robust exploration of additional regional targets.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with an eight-project portfolio covering greater than 333,000 ha. 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 Mr. Branson, MSc, PGeo, vice-president, exploration, of Snowline Gold, as qualified person for the purposes of National Instrument 43-101.

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