Mr. Scott Berdahl reports

SNOWLINE GOLD DISCOVERS FOUR NEW REDUCED-INTRUSION RELATED GOLD SYSTEM TARGETS AT ITS ROGUE AND CYNTHIA PROJECTS, YUKON, WITH VISIBLE GOLD IN OUTCROP SAMPLES TO 86.5 GRAMS PER TONNE GOLD

Snowline Gold Corp. has discovered three new reduced intrusion-related gold system (RIRGS) targets at its Rogue project, and an additional new RIRGS target at its adjacent Cynthia project in Yukon, Canada. Analytical results from the company's 2023 surface exploration program demonstrate widespread gold mineralization and RIRGS pathfinder elements associated with intrusions of the Rogue Plutonic complex, a 60-kilometre-by-30-kilometre geological feature which also hosts the company's flagship Valley target. Results include outcrop chip sampling to 5.12 grams per tonne (g/t) gold (Au) over 3.3 metres at the Livia target, and selective outcrop grab samples to 86.5 g/t Au at the Ramsey target. The new RIRGS targets are described in more detail below.

"While consistent drill results have dominated our headlines, Snowline's regional surface exploration team has done exemplary work behind the scenes, bolstering our exploration pipeline and demonstrating widespread gold fertility within the regional-scale Rogue Plutonic complex," said Scott Berdahl, chief executive officer and director of Snowline. "The presence of our Valley discovery shows that the geological ingredients needed to produce a uniquely robust form of RIRGS mineralization are present at Rogue. The results of our regional work suggest a strong potential for locating other such instances of gold endowment across much of the broader, more than 1,100 square km project area. With essentially the entire Rogue Plutonic complex under full ownership, we are thrilled to have the opportunity to systematically explore this nascent gold district, along with the resources and the team to make the most of this opportunity."

Livia target, Rogue project

The Livia target comprises a cluster of at least three mineralized zones located roughly three km east of the company's newly identified Aurelius target (see Snowline's press release dated Feb. 20, 2024) and one km to two km west of the mid-Cretaceous Old Cabin pluton. The newly discovered gold mineralization occurs both within sheeted quartz veins hosted in less than one km diameter outcropping granodiorite stocks, and within silicified country rock.

Historical surface sampling of silicified country rock near the south end of Livia returned grab samples of up to 16 g/t Au. Follow-up by the company identified a 1,000 m by 300 m northeast-trending structural corridor defined by two parallel structures hosted in mudstone and volcanic rocks, extending northeast from the historical sample site. A continuous rock chip sample from the southernmost fault hosted in silicified mudstone returned 3.3 m at at 5.12 g/t Au, including 0.3 m at 14.40 g/t Au (and 39.9 g/t Ag), with similar silicification and pathfinder element association to the Aurelius target. Additional selective rock chip samples from 200 m to the northeast within the same corridor returned seven mineralized vein samples out of eight, with an average of 4.47 g/t Au (up to 7.39 g/t Au).

Serendipitously, the granodiorite stocks at Livia were initially identified and mapped by Dr. Craig Hart, Snowline's chair, during the field component of his undergraduate honours thesis, before his role in developing the RIRGS deposit model. The stocks are hosted by the same volcanic and sedimentary rocks hosting mineralization at Aurelius, and are located between steep northwest-southeast and north-south structures. Mineralization is characterized by sheeted quartz vein arrays with arsenopyrite and galena. A 110 m by 50 m corridor of sheeted veins, with a vein density up to five veins per metre, was identified in one of these granodiorite stocks. This showing returned 18 mineralized vein samples out of 19, hosted both in granodiorite and the surrounding hornfels lithologies, with an average of 2.22 g/t Au (up to 7.17 g/t Au and 41.4 g/t Ag).

Sydney target, Cynthia project

The poly-phase nature of the intrusion at Valley is thought to be a key factor in the formation of the multiple quartz vein generations and the high gold grades encountered there in drilling. This observation adds to the traditional RIRGS model, suggesting that earlier phases of an intrusion can serve as receptive host rocks for mineralization introduced by later phases. Thus, larger intrusions -- like that at Sydney -- previously thought to be too deeply eroded to be prospective for high-density RIRGS gold mineralization could potentially be mineralized internally by later intrusive phases.

The Sydney target is a newly discovered, open, 250 m by 200 m zone of sheeted quartz veins hosted in a three km diameter granodiorite stock. The target is hosted in a north-south structural corridor with subvertical faults with up to 26 veins per metre. This zone returned a two m chip sample at 2.93 g/t Au, a 2.8 m chip sample at 0.53 g/t Au and a selective rock sample with 8.01 g/t Au. The rest of the target is characterized by an average of 10 veins per metre.

A second granodiorite stock located on the Cynthia project remains largely unexplored.

Ramsey target, Rogue project

Like Valley, the Ramsey target occupies a topographical low, with limited outcrop and a large component of transported surface cover. The target, located 23 km west of Valley, was initially identified as a magnetic high anomaly in historical aerial magnetic data. Surface investigation revealed the presence of low density (approxmiately one vein/metre) sheeted quartz veins in an intrusive host rock, with outcropping bismuth minerals and visible gold observed in the veins.

Out of 10 grab samples collected from the isolated outcrops, which occupy only a small (approximately 60 m by 30 m) portion of the broader four km by two km magnetic anomaly, eight were mineralized, with an average grade of 0.53 g/t Au, not including a visible gold-bearing grab sample of quartz vein material with abundant bismuthinite, which returned 86.5 g/t Au. A soil sample grid established over the area returned elevated (more than 10 parts per billion (ppb) Au) background gold values and localized anomalies up to 105 ppb Au associated with elevated bismuth and tellurium. It is unclear to what extent transported surface material (tills, colluvium and alluvium) might be masking bedrock influence on soil geochemistry across the target.

Duke target, Rogue project

Duke is a newly discovered RIRGS target characterized by a 1,500 m by 1,000 m granodiorite stock partially covered by colluvium and moraine deposits, located roughly 11 km southeast of the Valley target. Duke exhibits a similar geophysical response in historical ZTEM (z-tipper axis electromagnetic) data to Valley, with a resistive anomaly marking the location of the intrusion.

Initial reconnaissance work identified sheeted quartz-sulphide veins with densities consistently greater than 10 veins per metre over an open, 500 m by 350 m area. The vein mineralogy is characterized by quartz-carbonate with pyrrhotite, bismuthinite and arsenopyrite. The vein sets are mapped as vertical with northwest-southeast and east-west orientation, and have the potential to extend beneath the moraine deposits. Initial, representative grab samples returned values up to 0.56 g/t Au in outcrop and 0.91 g/t Au in float. These results are seen as encouraging indicators of fertility, and the target itself extends the known gold endowment along a general northwest-southeast corridor to more than 25 km stretching from Aurelius in the northwest and including the Valley target.

Other targets

In addition to the new targets described above, the company identified a zone of abundant gold-bearing intrusive float in glacial till on the Rogue project roughly 12 km down valley from (west-northwest of) the Valley gold discovery, associated with locally anomalous (17, 237 ppb and 768 ppb Au) stream sediment geochemistry. It is unclear at present whether this float is derived from an undiscovered mineralized intrusion, or whether it could have been transported as till from the Valley target itself at high enough concentrations to produce the observed gold anomalies in stream geochemistry.

Additional targets, including the Rogue project's JP target (formerly Scronk) and others, were advanced by the company during the 2023 field season and could potentially see drill testing in 2024.

About Snowline Gold Corp.

Snowline Gold is a Yukon-focused gold exploration company with an eight-project portfolio covering more than 360,000 hectares (more than 3,600 square kilometres). The company is exploring its flagship greater-than-110,000-hecatre (greater than 1,100 square km) 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.

Qualified person

Information in this release has been prepared under supervision of and approved by Thomas Branson, MSc, PGeo, vice-president of exploration of Snowline Gold, as qualified person for the purposes of National Instrument 43-101.

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