Mr. Darwin Green reports

HIGHGOLD MINING RECEIVES COURT APPROVAL FOR ONYX GOLD SPIN-OUT

Further to the news release dated June 1, 2023, the Supreme Court of British Columbia has granted a final order approving Highgold Mining Inc.'s previously announced plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia) involving Highgold and its wholly owned subsidiary, Onyx Gold Corp. For details regarding the arrangement, see the news releases of the company dated May 24, 2023, March 17, 2023, and Feb. 22, 2023.

The arrangement is expected to become effective on or about June 6, 2023, subject to, among other things, Highgold obtaining final acceptance by the TSX Venture Exchange of the arrangement and other conditions customary in transactions of this nature. As a reminder, those Highgold shareholders as of the effective date (on or about June 6, 2023) will receive one share of Onyx Gold for every four shares of Highgold.

About Highgold Mining Inc.

Highgold is a mineral exploration company focused on high-grade gold projects located in North America. Highgold's flagship asset is the high-grade Johnson Tract gold-zinc-copper project located in accessible south-central Alaska, United States. The company also controls one of the largest junior gold miner land positions in the Timmins, Ont., gold camp. This includes the Munro-Croesus gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Timmins South properties. Highgold also has 100-per-cent ownership of a group of properties in Yukon's emerging new Selwyn basin reduced intrusive-related gold district. Highgold's experienced board and senior management team are committed to creating shareholder value through the discovery process, careful allocation of capital and environmentally/socially responsible mineral exploration.

We seek Safe Harbor.