Mr. Ryan Kalt reports

DIXIE GOLD INC. RECEIVES CERTAIN GOVERNMENT APPROVALS AND REPORTS SUBMISSION OF ADDITIONAL LICENSE APPLICATIONS IN SASKATCHEWAN

Dixie Gold Inc. has made certain additional submissions and received certain approvals, to and from the government of Saskatchewan, as applicable, and both matters (as detailed herein) serving as issuer disclosure.

Further to its recent press release (see news release, Dixie Gold Inc. Reports Submission of License Applications in Saskatchewan, dated Jan. 17, 2025), the issuer reports that it submitted certain further and additional mining claim applications to the government of Saskatchewan, such additional licence applications pertaining to particular areas situated in Northern Saskatchewan, and being in addition to those previously disclosed on Jan. 17, 2025 (the first licence applications).

With respect to the licence applications, the submission process was preceded by recent evaluations by the issuer of the associated area and regional developments. The licence applications were submitted, as described by issuer news releases, to preposition Dixie Gold with optionality to the region in advance of certain upcoming activities by Ramp Metals Inc. that the issuer expects to occur based on its interpretation of certain public records, as well as to ensure that the licence applications, as indirectly filed, predate any alternate party that might be seeking the same.

As is customary, the additional licence applications remain subject to final approval by the government of Saskatchewan. Costs related to the additional licence applications were financed through on-hand working capital.

The additional licence applications being announced today correspond to submissions related to approximately 35,448 hectares, and in the corporation's view, the same serves to compliment, by way of additional contiguous and non-contiguous increase to previously announced and now new groupings, the approximately 39,415 hectares already disclosed by news release dated Jan. 17, 2025, being again, for reference, the first licence applications.

Given that the aggregate of the licence applications were filed at this time for optionality purposes (alongside Dixie Gold's view of their potential for a future rerating of value), the corporation will examine prospective forward-dated activities therewith associated depending upon whether certain preconditions and outcomes of interest materialize.

Approvals received

Further to its news release dated Jan. 17, 2025, the issuer also reports that it has subsequently received notification that approximately 37,637 hectares of the area associated with the first licence applications was successfully approved by the government of Saskatchewan, and the remaining area associated with the first licence applications is expected to expected to receive government review in due course.

The received and disclosed application success of the first licence applications has validated and informed the corporation's supplemental strategy to pursue the additional licence applications.

For interested parties, the corporation reports that licences under the first licence applications and/or additional licence applications that receive government approval are expected to carry an initial two-year licence term, being an initial term into calendar 2027.

Forward events

Dixie Gold advises that depending upon forward circumstances it may submit for additional licences proximate to those of interest to date (referencing news releases dated Jan. 17, 2025, and Jan. 20, 2025, by the issuer). That noted, if and as applicable, the issuer does not intend to comment publicly upon incremental licence submissions unless said submissions, or, in alternate, activity related to those submissions made to date, varies the materiality of the issuer's disclosure and/or its stated strategy with respect to matters discussed herein or by reference.

As at the date hereof, Dixie Gold has 31,737,188 common shares issued and outstanding.

About Dixie Gold Inc.

Dixie Gold is a publicly traded junior exploration company holding a portfolio of mining-related interests in Canada.

We seek Safe Harbor.