Mr. Scott Berdahl reports

SNOWLINE GOLD COMPLETES OVERSUBSCRIBED C$31.9 MILLION FINANCING

Snowline Gold Corp. has completed its previously announced bought deal private placement of 3,685,750 charity flow-through common shares of the company at a price of $7.80 per flow-through share for aggregate gross proceeds of $28,748,850, including $3,749,850 from the full exercise of the underwriter option. Each flow-through share will qualify as a flow-through share (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).

The company also completed a concurrent non-brokered private placement of 405,000 flow-through shares at the offering price for additional gross proceeds of $3,159,000, through which existing shareholder B2Gold Corp. subscribed to maintain its 9.9-per-cent interest in the company.

"The present financing provides Snowline the bandwidth to significantly expand the scope of our upcoming field season, allowing us to simultaneously pursue exploration at our Rogue project's Valley target alongside an aggressive regional drill campaign," said Scott Berdahl, chief executive officer and a director of Snowline. "We continue to be impressed both by the results from Valley and from our pipeline of regional targets, and we are keen to unlock value through discovery and efficient advancement of what we see as an emerging Canadian gold district. And we are grateful for the investment of supportive shareholders who have initiated, maintained or expanded on their positions in Snowline through this raise."

The company will use an amount equal to the gross proceeds received by the company from the sale of the flow-through shares, in the amount of $31,907,850, to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the tax act, related to the company's projects in Yukon on or before Dec. 31, 2025, and will renounce all the qualifying expenditures in favour of the subscribers of the flow-through shares effective Dec. 31, 2024.

The offering was made through a syndicate of underwriters led by Cormark Securities Inc. and BMO Capital Markets and including Canaccord Genuity Corp., CIBC World Markets Inc., National Bank Financial Inc., SCP Resource Finance LP and Paradigm Capital Inc. The underwriters received a cash commission equal to 5 per cent of the gross proceeds of the offering. The company paid a finder's fee equal to 2.5 per cent of the gross proceeds of the non-brokered private placement to an arm's-length party.

All securities issued in connection with the offering are subject to a hold period of four months and one day from the closing of the offering, in accordance with applicable Canadian securities laws, expiring on Aug. 26, 2024. Closing of the offering is subject to the final acceptance of the TSX Venture Exchange.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with an eight-project portfolio covering greater than 360,000 hectares (greater than 3,600 square kilometres). The company is exploring its flagship greater-than-110,000-hectare (greater-than-1,100-square-kilometre) Rogue gold project in the highly prospective yet underexplored Selwyn basin. Snowline's project portfolio sits within the prolific Tintina gold province, host to multiple million-ounce-plus gold mines and deposits, including Kinross's Fort Knox mine, Newmont's Coffee deposit and Victoria Gold's Eagle mine. The company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.

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