Mr. Quentin Mai reports

CARLIN GOLD ANNOUNCES CHANGES TO MANAGEMENT AND BOARD OF DIRECTORS

Carlin Gold Corp. has made the following changes to management and directors.

Incoming:

• Quentin Mai, president, chief executive officer and director;
• Cal Everett, chairman and director;
• Craig Roberts, directo.

Outgoing:

• Robert Thomas resigns as director (will continue as vice-president exploration, assisting with the transfer of data on Cortez Summit and other projects);
• Robert Culbert resigns as director;
• Aris Morfopoulos resigns as director;
• Wayne Livingstone resigns as president and CEO (will continue as director).

The Cortez Summit project covers 11 square kilometres (km) strategically located in one of the most active gold mining areas in Nevada. The property is contiguous with Barrick Mining Corp. and Nevada Gold Mines on all sides. The high-grade Fourmile resource is located approximately one km west of the common property boundary and the Goldrush operation is located approximately 1.4 km southwest. Previous drilling by the company at Cortez Summit included two deep core holes, one that hit targeted depth, with encouraging alteration and mineralization encountered high in the hole. The other core hole did not fully penetrate the favourable carbonate section. Several short RC (reverse circulation) holes terminated above the projected higher-grade system. Cortez Summit has only been partially explored; drilling to date has occurred in just a small area in the southwest corner of the claim block. The company is encouraged by the existence of several structural zones that have been identified on the property, oriented parallel to the existing known mineralized trends in the Cortez district, and is looking forward to evaluating these opportunities.

All Carlin gold projects (CGD) are 100 per cent owned.

Data compilations are under way on all projects and will be released in sequence. All opportunities that could provide value to the shareholders will be assessed.

Mr. Everett stated: "We wish to thank Wayne, Bob and Aris for their stewardship of the company to this stage and successfully assembling an exciting project package in Nevada. The Four Mile discovery extends to the southeast parallel to the claim boundary to the operating Goldrush mine. In an arcuate fashion Cortez Summit is also surrounded to the northwest and east by several past-producing gold mines and/or deposits representing millions of ounces of past, existing and potentially future gold production."

Mineralization on the Four Mile and Goldrush properties, or other nearby properties, referred to in this news release is not necessarily indicative of mineralization on the Cortez Summit project or the company's other properties and the company has not independently verified the information regarding these adjacent properties.

The priority is to explore, test and acquire new NevadapProjects of interest.

Mr. Livingstone stated: "I would like to thank my existing team for creating such an exceptional opportunity. I would also like to welcome Cal, Quentin and Craig, and look forward to working with them as they advance the company to the next stage of growth."

Quentin Mai, president and CEO

Mr. Mai has 30 years of capital markets and corporate communications experience working with successful early-stage growth companies from mineral discovery to production. His most recent position was president and CEO of West Point Gold, where he successfully undertook critical early-stage capital raises and oversaw growth from a $6-million to over $80-million market capitalization. Mr. Mai also spent 10 years with Corvus Gold, from its founding to eventual sale to AngloGold Ashanti for $570-million (Canadian). Furthermore, he was vice-president, business development, for International Tower Hill from inception to its peak valuation exceeding $800-million market capitalization in 2010 helping to raise over $250-million.

Cal Everett, chairman

Mr. Everett has worked in various capacities over 35 years in the mineral exploration industry. Mr. Everett is a geologist with more than 14 years of surface and underground exploration experience with senior mining companies. He moved to the financial sector in 1990 and spent 12 years with BMO Nesbitt Burns focused on resource equities, and seven years with PI Financial Corp. in senior resource institutional sales and capital markets. From 2008 to 2015, Mr. Everett was president and CEO of Axemen Resource Capital. From 2016 to 2025, Mr. Everett served as president and CEO of Liberty Gold, which is currently in the development phase with a market capitalization of approximately $900-million. In total, Mr. Everett has been involved in raising over $1-billion in the mineral exploration sector, resulting in the early discovery of deposits with a growing list of takeovers to date in excess of $15-billion. He holds a bachelor of science degree in economic geology from the University of New Brunswick.

Craig Roberts, director

Mr. Roberts is a retired mining engineer with over 40 years of operations, engineering consulting and investment banking experience in the mining sector. Mr. Roberts is a former director and CEO of New Found Gold Corp. with a peak market cap of $1-billion, and current and former director of other high-market-cap public exploration companies. Mr. Roberts has a BASc (mining engineering) degree from the University of British Columbia and an MPhil (management studies) degree from Oxford University. He has worked on several merger and acquisition transactions. Mr. Roberts has acted as an adviser on open-pit and underground mining opportunities worldwide for major and junior mining companies as a specialty focus.

OTCQB Venture Market listing

The company is also pleased to announce that its common shares recently began trading on the OTCQB marketplace under the symbol CGDCF. The company's common shares will continue to trade on the TSX Venture Exchange under the symbol CGD.

The company expects that the listing on the OTCQB will provide greater visibility and convenience of trading for U.S. investors, resulting in enhanced liquidity and greater reach.

The OTCQB is for early-stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find real-time quotes and market information for the company on the OTC Markets website.

Granting of options

The company announces that, pursuant to its stock option plan, it has granted an aggregate of 700,000 stock options to purchase 700,000 common shares of the company, exercisable at a price of 57 cents per share for a period of five years from the date of grant (expiring July 13, 2031), to certain members of the new management group.

Robert Thomas, CPG, vice-president, exploration, and a qualified person as defined in National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this news release.

We seek Safe Harbor.