Mr. Simon Ridgway reports

RADIUS GOLD PROVIDES PORTFOLIO UPDATE ON HIGH-GRADE AMALIA AND HOLLY GOLD-SILVER PROJECTS AND ANNOUNCES FINANCING

Radius Gold Inc. has provided a status update on its Amalia project in Mexico and Holly project in Guatemala.

These high-grade epithermal gold-silver assets demonstrate significant exploration potential, with multiple open zones, historic high-grade intercepts and an established inferred resource at Holly. Radius maintains continuing discussions with its partners and communities, and remains focused on advancing value for shareholders across its portfolio.

Amalia Group concessions, Mexico

In June, 2017, Radius signed an option agreement on the Amalia property in Mexico. The property had some minor artisanal workings but, to the company's knowledge, it was never previously explored or drilled.

In June, 2018, Radius granted Pan American Silver the option to earn an initial 65-per-cent interest in the Amalia project by making cash payments to Radius totalling $1.5-million (U.S.) and spending $2-million (U.S.) on exploration over four years. Pan American also had the right to earn an additional 10 per cent by advancing the project to prefeasibility; that right has since expired.

It was agreed that Radius would initially act as project operator. In December, 2018, Radius made a significant discovery on the Amalia project, intersecting 26 metres at 7.08 grams per tonne Au (gold) and 517 g/t Ag (silver) in hole AMDD18-09 (approximate true width). Radius continued as operator throughout most of 2019, intersecting several other high-grade intervals in this epithermal system.

In late 2019 Pan American assumed operatorship and, over the following years increased the drilling on the properties to a total of 23,058 m in 67 drill holes. Several new discovery zones were identified. One of the last holes reported by the JV (joint venture) for Amalia was AMDD22-066 at the El Cuervo target in August, 2022, which returned 13.55 m at 10.25 g/t Au and 841 g/t Ag, including 5.65 m at 19.16 g/t Au and 1,560 g/t Ag (approximate true widths). Pan American completed all required cash payments and exploration expenditures to earn its 65-per-cent interest. Since the fall of 2022 no further material work has been conducted on these properties. Radius continues to have a 35-per-cent interest in the properties. Discussions with Pan American remain ongoing as the company seeks to realize appropriate value for its shareholders.

Holly gold-silver project, Guatemala

In May, 2020, Radius optioned its holdings in Guatemala to Volcanic Gold Mines. Under the terms of the option, Volcanic had the right to earn a 60-per-cent interest in the properties by spending $7.0-million (U.S.) on exploration of certain of the properties within 48 months from the date drilling permits were granted.

Volcanic completed the earn-in in August, 2024, and Radius now holds a 40-per-cent joint venture interest with Volcanic.

In July, 2021, Radius and Volcanic announced a discovery at the Holly property in Guatemala with hole HDD-21-003 returning 10.65 m at 5.29 g/t Au and 256 g/t Ag. Volcanic continued drilling at Holly, making some very high-grade intercepts including significant results in later holes (for example, 4.57 m at 54.24 g/t Au and 3,925 g/t Ag in hole HDD-21-27 in February, 2022). However, shortly after that release, the social licence to drill at Holly was lost, with demonstrations against mining becoming a regular affair in the area of Holly. Volcanic invested considerable time and resources engaging with local communities and officials to highlight the potential benefits of responsible mining development. However, progress was slower than anticipated and a small but vocal anti-mining group gained influence, ultimately resulting in the loss of social licence to drill at Holly.

The project hosts a high-grade epithermal gold-silver system with multiple vein structures. Holly's Pena vein hosts inferred mineral resource of 1.32 Mt at 6.46 g/t Au and 256 g/t Ag. The effective date of the mineral resource estimate is June 7, 2022, and a technical report on the Holly property is filed on the company's website and SEDAR+.

Today in Guatemala regional mining activity continues to advance. The commencement of construction at Aura Minerals' Era Dorada underground mine, 40 km south of Holly, highlights renewed development momentum within the district. Volcanic and Radius continue to actively engage with local communities and stakeholders to regain social licence and advance the project. The company and its partner believe there is significant potential at the Holly project and remain committed to unlocking value from this high-grade epithermal system.

Strategic focus on Peru and proposed financing

While Radius is currently prioritizing the advancement of its highly prospective assets in Peru, including the Tierra Roja copper project and the Jonco silver project, the company continues to recognize the substantial exploration upside and development potential of both the Amalia and Holly projects. Management remains committed to evaluating all strategic options to realize shareholder value from its entire portfolio, including monetizing some of the above assets.

In order to finance the company's exploration programs at Tierra Roja and Jonco, and for general working capital purposes, Radius proposes to complete a non-brokered private placement of up to 10 million units at a price of 12 cents per unit for gross proceeds of up to $1.2-million. Each unit will consist of one common share of the company and one warrant which will entitle the holder to acquire one additional common share at a price of 20 cents per share, exercisable for a period of 12 months following the closing date of the private placement.

Completion of the private placement is subject to approval by the TSX Venture Exchange.

Qualified person

Luke Longridge, PhD, PGeo, is the president of Radius and is Radius's qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Dr. Longridge has reviewed and approved the technical information contained in this news release.

About Radius Gold Inc.

Radius Gold is an exploration company focused on the discovery and advancement of high-quality projects in the Americas. The company's strategy is to identify, acquire and advance exploration opportunities with strong discovery potential.

We seek Safe Harbor.