Mr. Robert Klenk reports

JZR GOLD ANNOUNCES OVERSUBSCRIBED PRIVATE PLACEMENT

JZR Gold Inc., further to its news release of Oct. 2, 2023, has agreed to increase the size of its non-brokered private placement offering of units at a price of 20 cents per unit to total gross proceeds of up to $800,000 due to increased demand. Each unit consists of one common share of the company and one share purchase warrant, which entitles the holder thereof to purchase one additional common share of the company at a price of 40 cents per warrant share for a period of two years after the closing of the offering.

All of the securities will be subject to a hold period of four months and one day from the date of issuance. Closing of the offering will be subject to satisfaction of certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including approval by the TSX Venture Exchange.

The company intends to use the net proceeds from the offering to advance the development of the Vila Nova gold project located in the state of Amapa, Brazil, and for general working capital purposes.

For more information on the offering, please see the company's news release dated Oct. 2, 2023.

In addition, the company wishes to announce that, due to the market conditions in March and April, 2023, the company decided not to complete the balance of the unit offering that was originally announced on Feb. 22, 2023, was amended on April 21, 2023, and was partially completed on April 27, 2023.

We seek Safe Harbor.