Mr. Robert Archer reports

NEWRANGE DRILLS APPARENT OFFSET OF PAMLICO MINE IN FOLLOW-UP OF NEW HIGH-GRADE ZONE

Newrange Gold Corp. has completed four PQ (85-millimetre diameter) diamond core holes totalling 800.6 metres following up on reverse circulation hole P21-115, which intersected several high-grade structures assaying up to 22.35 grams gold per metric tonne within an overall intercept of 123.5 metres averaging 1.13 g/t Au (Newrange news release of Feb. 23, 2021). All four holes are 25- to 35-metre offsets of hole P21-115 and, collectively, appear to have discovered a previously unknown extension of the historic, high-grade Pamlico mine. In particular, distinctive mineralogy intersected in hole P21-122 indicates an important offset extension of the 5,428 level stopes that remains open in at least three directions.

All four core holes, P21-122 to 125, inclusive, intersected near-surface, visually significant, oxide mineralization resembling that seen in hole P21-115, the Merritt zone and stopes on the 5,428 level of the Pamlico mine. The mineralization, as seen in the drill holes, occurs over broad intervals ranging from 108 to 167 metres downhole (all holes drilled at minus 60 degrees) and consists of anastomosing veins and veinlets of iron oxides, and brecciated quartz filled with iron oxides in strongly clay altered rhyolite to latite lithic tuff. Importantly, the first core hole, P21-122, intersected a zone from 23 to 183 metres of iron oxide-filled brecciated quartz veins and veinlets and a 0.6-metre intercept of brecciated quartz with secondary copper minerals, including abundant chrysocolla and lesser amounts of azurite and malachite. A similar vein on the 5,428 level assayed 5.62 g/t Au, 63.2 g/t silver and 9,790 parts per million copper or 0.98 per cent Cu over 0.48 metre. The 5,428 vein is the only structure associated with gold mineralization in the Pamlico mine known to contain chrysocolla or appreciable quantities of other copper minerals.

"We are very encouraged by the four follow-up holes on this new zone, and especially with the apparent correlation with the Pamlico mine mineralization," stated Robert Archer, Newrange chief executive officer. "While all assays are pending, the zone appears to be open to the north, east and south. Once results have been received and compiled, we will be in a better position to interpret the potential and plan additional follow-up drilling."

The 5,428 level stopes are developed on a series of nearly flat to low-angle, anastomosing veins and veinlets composed of iron oxide, and iron oxide-filled quartz breccias that form a halo around a single larger, semi-continuous and relatively flat-lying brecciated quartz vein with abundant iron oxides and local concentrations of chrysocolla, azurite and malachite. The 11 samples taken by the company on this level returned 0.29 to 10.35 g/t Au and 162 to 9,790 ppm Cu over sample lengths ranging from 0.15 to 1.32 metres.

The area of new drilling is located approximately 85 metres east of the high-grade Merritt zone and 197 metres north-northeast of the closest accessible stopes on the 5,428 level of the Pamlico mine. Observed core angles of structures in the zone indicate a strong subhorizontal component much like that seen in many of the stopes in the Pamlico mine. The copper-rich intercept in hole P21-122 is about 80 metres lower in elevation than the 5,428 level, indicating this new zone to be a possible down-dropped extension of high-grade mineralization in the Pamlico mine.

The copper-rich vein was not observed in holes P21-123 to 125, but the same overall style of mineralization and alteration is present to varying degrees in all holes. The structure is complex and faulting is common, with much of the rock being extremely broken. Assays from the four follow-up holes are pending and, upon receipt, will allow for a better determination of the characteristics and trend(s) of the mineralization such that additional follow-up holes can be planned.

The company is now in receipt of the final report on the recent expansion of the induced polarization (IP) survey. As recently discovered gold-copper mineralization on surface (see Newrange news release of June 14, 2021) appears to be associated with a 5.5-by-three-kilometre IP anomaly, Newrange management now considers this to be a higher-priority target than the 91 zone or the Line 5 anomaly. Consequently, the drill will be moving to this area next.

Quality assurance/quality control

Robert G. Carrington, PGeo, a qualified person as defined by National Instrument 43-101, the president and chairman of the company, has reviewed, verified and approved for disclosure the technical information contained in this news release. All reverse circulation drilling was conducted using a five-inch-diameter centre return bit. All drilling was supervised by professional geologists. Samples were collected on 1.5-metre (five-foot) intervals. Drill cuttings were captured in a vacuum augmented, closed system cyclone, then riffle split in a three-tiered Jones-type splitter. All core reported in this release is PQ diameter core, drilled with triple tube split shells. Core is logged and marked by professional geologists for sampling. Core is then saw-cut along the marked sample lines with diamond saws. Sludge from each identified sample interval is collected separately, flocculated, dried and split. One-half of the sludge is then combined with the one-half of the core for assay; the other half of sludge is placed in a paper envelope and kept with the one-half reference core for future work. Samples are securely stored and delivered to Paragon Geochemical Laboratories in Sparks, Nev., for preparation and analysis. Samples are dried then stage crushed to 80 per cent passing 10 mesh. A 300-gram subsample is then split out and pulverized to 90 per cent passing 140 mesh from which one assay ton, approximately 30-gram samples are split for analysis by fire assay with an OES (optical emission spectroscopy) finish. Samples assaying in excess of five g/t Au are reassayed by fire assay with a gravimetric finish. Silver was determined by fire assay with an atomic absorption finish. In addition to the QA/QC conducted by the laboratory, the company inserts blanks, duplicates, standards and certified reference material at a rate of not less than one in 20.

About Pamlico

Located 12 miles southeast of Hawthorne, Nev., along U.S. Highway 95, the project enjoys excellent access and infrastructure, a mild, year-round operating climate, and strong political support from Mineral county, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines. Discovered in 1884, the district rapidly gained a reputation as being one of Nevada's highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.

Recent exploration by the company has identified the potential for district-scale skarn and porphyry related mineralizing systems.

About Newrange Gold Corp.

Newrange is focused on district-scale exploration for precious metals in favourable jurisdictions, including Nevada, Ontario and Colorado. With locally high-grade, near-surface oxide gold mineralization, the company's flagship Pamlico project is poised to become a significant new Nevada discovery, while the North Birch project offers additional blue-sky potential in the prolific Red Lake district. Focused on developing shareholder value through exploration and development of key projects, the company is committed to building sustainable value for all stakeholders.

We seek Safe Harbor.