Mr. Carl Lofberg reports

FIREFOX GOLD CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Effective today, subject to regulatory acceptance, Firefox Gold Corp. has completed the first tranche of the non-brokered private placement arranged on Aug. 8, 2023. The company intends to complete a second tranche of the private placement before Sept. 28, 2023.

In this first tranche, the company has raised total gross proceeds of $323,499 by issuing 4,621,414 units of the company at a purchase price of seven cents per unit. Each unit consists of one common share of the company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the company at an exercise price of 10 cents for a term of two years from the date of issuance. The shares issued pursuant to the private placement will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities legislation.

The company intends to use the proceeds of the private placement for general corporate purposes, working capital and exploration activities on Firefox's gold exploration properties in Finland.

Firefox will pay qualified finders $840 in cash finders' fees and will issue 12,000 finders' warrants exercisable at 10 cents for two years from the date of issuance in association with the first tranche of the private placement.

About Firefox Gold Corp.

Firefox Gold has been exploring for gold in Finland since 2017, where it holds a large portfolio of prospective ground.

We seek Safe Harbor.