Mr. Mike Bandrowski reports

BIG RIDGE GOLD CORP. PROVIDES UPDATE ON 2024 EXPLORATION PROGRAM

Big Ridge Gold Corp. has provided an update of activities at the company's Hope Brook gold project (HBGP), located in southern Newfoundland.

Michael Bandrowski, president and chief executive officer of the company, commented: "We are excited to continue our systematic exploration program along a series on highly prospective gold-bearing structures to the southwest of the Main and 240 zones at the Hope Brook gold project. The continuing fieldwork covers areas defined during our 2023 exploration program (see press release dated April 18, 2024). This is a critical step for the growth of the HBGP as the company looks to define robust drill targets that we plan to have drill ready for 2025."

Geophysical interpretation at Hope Brook

The 2023 surveys included walking magnetometer surveys completed over all lines on both the Hope Brook and the Old Man's Pond grids. Time-domain DC induced polarization (DCIP) surveying was completed over only prioritized areas of the Hope Brook (29.1 kilometres) and Old Man's Pond (nine kilometres) grids due to seasonal time constraints. Survey quality assurane/quality control and data interpretation were completed by Ronacher McKenzie Geosciences Inc. (RMG)

Historic Titan 24 magnetotelluric (MT) and induced polarization data over the Hope Brook deposit show parallel high chargeability anomalies with strong correlations to the locations of the Hope Brook Main deposit and the 240 zone, located 300 metres to the southwest, both contained within the footprint of the 2023 Hope Brook mineral resource estimate dated April 6, 2023.

The 2023 survey extended gridding for four kilometres to the southwest and included coverage of the 240 zone and the full thickness of the Hope Brook deformation zone lithologies.

Geophysical interpretation by RMG suggests the 240 zone geophysical signature is a spatially distinct stratigraphic horizon from the similarly anomalous trend on the northern limit of the Hope Brook deformation zone, which hosts the Hope Brook mine. The 240 zone appears to coincide with the downward projection of the southern chargeability feature in this recent survey, along the southern limit of the Hope Brook deformation zone. There is also distinct break within the IP anomaly's trend at this point, suggesting late offset. This southern chargeability trend is present continuously over approximately three kilometres of the 2023 surveyed grid.

The northern chargeability anomaly extends southwest from the Hope Brook mine, 1.5 kilometres to the Chetwynd copper zone located along the Cinq Cerfs fault. The Chetwynd copper zone was explored in the 1930s for copper mineralization. Historic drilling and surface geology have detected gold hosted in high-sulphidation, argillic-altered lithologies parallel to the Cinq Cerfs fault. Resistivity and chargeability anomalies in this area appear to follow the heavily altered rocks extending between the Hope Brook mine and the Chetwynd showing; these have also been offset locally by late faulting.

Additional study of the geophysical results suggests that stratigraphic horizons with anomalous chargeability are part of a folded sequence, as seen in the Hope Brook mine area. The inferred folds are isoclinal, likely dipping steeply to the southeast with shallow axes trending to the southwest. Recognizing these folds will be an important factor in tracking alteration and mineralization southwesterly and at depth.

Field reconnaissance work

During July and August, 2024, ground exploration continued at the HBGP, targeting the Chetwynd prospect area and the mineralized lithologies contained in the Hope Brook deformation zone. This work is a continuation of the 2023 field season, during which the Hope Brook land package, outside of the Hope Brook mine, was evaluated. The Chetwynd prospect area is a high priority for the company.

The general characteristics of the prospect are:

• On strike to Hope Brook mine, approximately two kilometres southwest;
• Within the Hope Brook deformation zone and described as containing lenses of highly strained silicic rocks and advanced argillic alteration;
• Comprises both buff (first) and grey (second) stages of gold-bearing silicic alteration;
• Locally contains strongly anomalous copper, arsenic and mercury values and up to 2.8 grams per tonne gold (copper shaft);
• 2023 IP data illustrates the need for deeper drilling and possible further IP and trenching.

Prospecting in previously unsampled rocks and resampling of known mineralization was carried out, with 36 grab samples being submitted for analysis in August. Of the 36 grabs assayed, eight reported between 100 parts per billion gold and 2,300 parts per billion gold, with the remainder of the samples reporting traces of gold.

Channel sampling was carried out on largely unsampled historical trenches to the northeast of Chetwynd and to the west and southwest of the Hope Brook mine. This work comprised 51 channel samples. A further 114 samples were taken in historical, previously unsampled core, from holes in the Chetwynd prospect area and along the Cinq Cerf fault area. Gold assay and ICP analysis for these samples are pending. Exploration work continued in the Hope Brook deformation zone in October.

Preparation for 2025 drill program

During 2024 field operations, Big Ridge staff will follow-up on the results and interpretations developed from the 2023 DC (direct current) induced polarization, magnetometer and reconnaissance sampling surveys, with a focus on a five-kilometre section of the Cinq Cerfs deformation zone, extending from the 240 zone to the southwest. This stratigraphy contains variably argillic altered metavolcanic rocks and several prominent chargeability anomalies in strike continuation from the Hope Brook deposit. The work will assist with placement of drill holes for a new campaign in 2025. The team will also investigate a suite of anomalous gold-in-rock results, located south of the Cinq Cerfs deformation zone identified in 2023.

Quality assurance and quality control (QA/QC)

QA/QC and compilation of results employ a strict QA/QC program consistent with National Instrument 43-101 and industry best practices. Historical drill core was split, with half-core samples packaged and delivered to SGS Canada's prep laboratory in Grand Falls-Windsor, Nfld., by Big Ridge staff.

All samples are analyzed by fire assay with an atomic absorption (AA) finish using a 50-gram aliquot of pulverized material. Big Ridge inserts third party reference control and blank samples in the sample stream to monitor assay performance. Ten per cent of samples submitted are part of the company's laboratory sample control protocols.

Qualified persons

Big Ridge's 2024 historical core, field and channel sampling programs were supervised by Paul David Robinson, PGeo. William McGuinty, PGeo, vice-president, exploration, for Big Ridge, has reviewed and approved the technical information contained in this news release. Both Mr. Robinson and Mr. McGuinty are qualified persons within the meaning of NI 43-101, Standards of Disclosure for Mineral Projects

About Hope Brook

The Hope Brook gold project is an advanced-stage, high-grade gold project that produced 752,162 ounces of gold from 1987 to 1997. Initial production consisted of an open pit before moving to underground mining. Hope Brook operated using both heap leach (1987 to 1990) and conventional cyanidation milling methods (1989 to 1997) with a later inclusion of flotation concentration to recover copper (1991). Government records indicate that gold recoveries from milling ranged between a low of 78.8 per cent in 1987 and a high of 85.9 per cent in 1989. Government and company annual reports indicate that gold recoveries ranged between a low of 82.1 per cent in 1994 and a high of 89.83 per cent in 1996 following a change of ownership. Copper flotation produced a concentrate at approximately 22 per cent copper and 34.3 grams per tonne gold for shipment in 1992.

Hope Brook hosts an indicated gold resource totalling 16.19 million tonnes grading 2.32 grams per tonne gold for 1.2 million ounces and inferred resources totalling 2,215,000 tonnes grading 3.25 grams per tonne gold for 231,000 ounces based on 0.4-gram-per-tonne and 2.0-gram-per-tonne cut-off grades for open-pit and underground resources, respectively, using a long-term gold price of $1,750 (U.S.).

Hope Brook is located 85 kilometres east of Port aux Basques, Nfld. The project has well-maintained infrastructure on site, including an operational 28-person camp, a 1,100-metre airstrip, an ice-free docking facility and, importantly, connection to the provincial electrical power grid through an on-site substation.

Significant exploration potential remains on the approximately 5,900-hectare project area, providing a great opportunity to expand the mine resource area as well as continued evaluation of surface showings throughout the licences.

About Big Ridge Gold Corp.

Big Ridge Gold is an exploration and development company managed by a disciplined and experienced team of officers and directors. The company is committed to the development of advanced-stage mining projects using industry best practices, combined with strong social licence from its local communities. Big Ridge owns an 80-per-cent interest in its flagship Hope Brook gold project, located in Newfoundland and Labrador. Big Ridge also owns 100 per cent in the highly prospective Oxford gold project located in Manitoba and the Destiny gold project in Quebec.

Acknowledgment

Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural Resources' financial support of the company's 2023 exploration programs through the Junior Exploration Assistance (JEA) program.

We seek Safe Harbor.