Mr. Rex Motton reports

FOSTERVILLE SOUTH COMMENCES DRILLING AT LAURISTON PROJECT

Fosterville South Exploration Ltd. has commenced drilling at its Lauriston gold project, located in Victoria, Australia.

Highlights

• Lauriston is immediately south of and contiguous with Kirkland Lake Gold's Fosterville mine tenements;
• 600-square-kilometre project with excellent structural setting and significant historic high-grade gold production reported despite lack of modern exploration and drilling;
• Initially a two-drill rig program.

Lauriston is an epizonal gold-antimony-arsenic mineralized project, which has the best potential to be the southern extension of the Fosterfield goldfield belt, outside of Kirkland Lake Gold's tenements. The Redesdale, Whitelaw and Taradale faults intersect Lauriston, although some areas are masked by a thin younger basalt cover, leaving these particular areas on the property never explored.

The assembly of Lauriston was a multiyear process, commencing in early 2017, long before the current land rush now taking place in Victoria.

Fosterville South's planned 5,120-metre reconnaissance drill program at the Lauriston project will focus on the high-grade epizonal and mesozonal prospects that have recorded historical high-grade gold production.

Drilling will consist of 64 holes averaging 80 metres in depth and targeting four separate prospects all held on private property. One reverse circulation drill rig is operational on site now with a second drill rig (a diamond drill) targeted to commence drilling later this week.

Additional to this now under way drill program, plans are being designed for a further three prospects within the Lauriston property with a similar level of drilling commitment.

While drilling has now started at Lauriston, Fosterville South is also awaiting assay results from 11 holes recently completed drill holes at the Golden Mountain project, where drilling to date has intersected strong gold grades over lengthy intervals with excellent distribution of grade throughout the system.

* The mineralization at the Fosterville mine is not necessarily indicative of mineralization on the Lauriston project.

About Fosterville South Exploration Ltd.

Fosterville South began with two, 100-per-cent-owned, high-grade gold projects called the Lauriston and Golden Mountain, and has since acquired a large area of granted and application tenements containing further epizonal (low temperature) high-grade gold mineralization called the Providence project and a large group of recently consolidated licence tenement applications called the Walhalla belt project, which contain a variety of epizonal and intrusion-related-style gold mineralization, all in the state of Victoria, Australia. The Fosterville South land package, assembled over a multiyear period, notably includes a 600 square km property immediately to the south of and within the same geological framework that hosts Kirkland Lake Gold's Fosterville epizonal gold tenements. Additionally, Fosterville South has gold-focused projects called the Moormbool and Beechworth, which are also located in the state of Victoria, Australia. Moormbool project has epizonal-style gold mineralization and Beechworth has mesozonal- and intrusion-related gold mineralization.

All of Fosterville South's properties, with the exception of Moormbool, have had historical gold production from hard-rock sources despite limited modern exploration and drilling.

Qualified person

The technical content of this news release has been reviewed, verified and approved by Rex Motton, AusIMM (CP), chief operating officer and director of Fosterville South, a qualified person as defined by National Instrument 43-101.

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