Mr. Scott Berdahl reports

SNOWLINE GOLD CORP. ANNOUNCES C$25.0 MILLION BOUGHT DEAL PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Snowline Gold Corp. has entered into an agreement, pursuant to which Cormark Securities Inc. and BMO Capital Markets, as co-lead underwriters on behalf of a syndicate of underwriters, have agreed to purchase, on a bought deal private placement basis, 3,205,000 charity flow-through shares of the company at a price of $7.80 per charity FT share for gross proceeds of $24,999,000. Each charity FT share will qualify as a flow-through share (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).

The underwriters will have the option, exercisable in whole or in part at any time up to 48 hours prior to the closing of the offering, to arrange for the purchase of up to that number of charity FT shares at the offering price as is equal to 15 per cent of the number of securities issued in connection with the offering.

The company will use an amount equal to the gross proceeds received by the company from the sale of the charity FT shares, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the Income Tax Act (Canada), related to the company's projects in Yukon on or before Dec. 31, 2025, and to renounce all the qualifying expenditures in favour of the subscribers of the charity FT shares, effective Dec. 31, 2024.

The offering is expected to close on or about April 25, 2024, or such other date as the company and the underwriters may agree, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the acceptance of the TSX Venture Exchange.

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-hectare 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, Northern Star's Pogo mine 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.

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