Mr. Nav Dhaliwal reports

PACTON GOLD PROVIDES DRILLING AND SAMPLING UPDATE; USE OF PROCEEDS AT RED LAKE GOLD PROJECT, ONTARIO

Pacton Gold Inc. has provided an exploration update at its continuing 10,000-metre drill program and has outlined plans for the use of proceeds from recent, successful financing at the Red Lake project, Ontario.

Drill program highlights:

• Ahead of schedule: The fully financed 10,000-metre drill program is well under way and ahead of schedule with approximately 4,000 metres (m) drilled in 10 holes. First-pass drilling is now complete at Boyden West, Carricona East and Boyden East.
• Fourteen holes remaining: The remaining 6,000 m of drilling will focus on the Claremont target area, where 14 holes are planned. The drill program is anticipated to be completed in early summer 2022.
• Over 2,800 samples submitted to lab for assays: All samples from the first 10 holes and the resampling campaign have been delivered to Activation Laboratories Ltd. in Thunderbay, Ont. A total of 2,825 samples have been submitted to the lab. The company anticipates a turnaround time of approximately two months for assay results. Results from the drill program will be reported as they come in.

Continued exploration at Red Lake:

• Proceeds from the recent financing will be used for continued target generation and prospect development at the project beyond the continuing drill campaign. Pacton will focus this exploration work at the Red Lake project, including underexplored regional properties such as Gullrock and Swain.
• The company plans to conduct a significant surface exploration campaign during the summer of 2022 to evaluate targets for future drill campaigns. This campaign will include geophysics, prospecting and mapping, outcrop stripping, and geochemical sampling. Additional details of this program will be announced as they are finalized.

Nav Dhaliwal, interim president and chief executive officer for Pacton, commented: "We are making very good progress with the 24-hole drill program and the accompanying resampling program at our Red Lake gold project. In total, 2,825 samples have been sent off to be assayed and this number is growing on a weekly basis. The Red Lake region is one of North America's most exciting gold districts with multiple majors buying into the area over the last 12 months and we are in the process of finalizing our continued, aggressive exploration plans."

About Pacton Gold Inc.

Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high-grade gold properties located in the Red Lake gold rush in Ontario, Canada. The company also owns a strategic portfolio of prospective projects in the district-scale Pilbara gold rush in Western Australia.

The technical content of this news release has been reviewed and approved by Dale Ginn, PGeo, executive chairman and a director, and Karly Oliver, PGeo, vice-president of exploration and a director of the company, who are both qualified persons pursuant to National Instrument 43-101.

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