Mr. Darrell Rader reports

MINAURUM DRILLS MULTIPLE HIGH GRADE SILVER INTERCEPTS INCLUDING 2,431 G/T AG OVER 0.70 M AT ALAMOS SILVER PROJECT

Minaurum Gold Inc. has released its results of the first five holes of the 2024 drill program to establish an initial mineral resource at its 100-per-cent-owned and production permitted Alamos silver project in Sonora, Mexico. The most significant results include: AL24-105, which intersected 0.70 metre (m) of 2,976 grams per tonne (g/t) silver equivalent (AgEq); AL24-107, which returned 5.60 m of 368 g/t AgEq and 2.55 m of 621 g/t AgEq; and AL24-108, which returned 8.45 m of 336 g/t AgEq.

"Our resource drilling program has started off with significant high-grade silver results showcasing the mineral continuity of our one-kilometre-long high-grade Promontorio vein zone," stated Darrell Rader, president and chief executive officer of Minaurum Gold. "Infill and stepout drilling continues at Promontorio, one of three core resource drilling targets for 2024. We anticipate testing the second target at Promontorio Sur vein zone next with stepout holes."

Promontorio and Promontorio Sur vein zones

The one-kilometre-long Promontorio vein zone consists of multiple veins, including the Veta Grande, Veta del 100 and Veta Las Guijas veins (see Minaurum's news release dated Feb. 6, 2020). The individual veins are hosted in faulted volcanics, altered limestone and intrusive rocks.

The West Promontorio vein zone is an underexplored vein zone, located 100 metres (m) west of the Veta del 100, which was intersected in the 2024 drill program. The Promontorio Sur is the faulted-off, downdropped and underexplored southern extension of the Las Guijas vein.

The first five holes totalled 1,286 m (see the attached table) and were drilled on two fences across the Promontorio vein zone. Holes AL24-105 and AL24-106 tested the newly discovered West Promontorio vein on one fence, and holes AL24-107, AL24-108 and AL24-109 tested the Veta del 100/Veta Grande portion of the Promontorio zone on another fence.

Prior to 2024, Minaurum drilled 29 holes totalling 9,258 m at Promontorio and Promontorio Sur. Minaurum's 2024 program includes infill drilling to establish 75 to 100 m spacings between vein intersections, as well as stepout drilling.

Highlights of Minaurum's previous drilling at Promontorio include:

• 20.2 m of 455 g/t AgEq, or 154 g/t silver (Ag), 0.5 per cent copper (Cu), 2.3 per cent lead (Pb) and 6.8 per cent zinc (Zn) (hole AL17-004);
• 3.8 m of 1,309 g/t AgEq, or 415 g/t Ag, 2.68 g/t Au, 1.37 per cent Cu, 6.20 per cent Pb and 9.19 per cent Zn, including 0.95 m of 3,282 g/t AgEq, or 1,566 g/t Ag, 6.72 g/t Au, 4.48 per cent Cu, 9.27 per cent Pb and 10.08 per cent Zn (hole AL19-025);
• 7.6 m of 461 g/t AgEq, or 266 g/t Ag, 0.27 g/t Au, 0.57 per cent Cu, 1.60 per cent Pb and 3.17 per cent Zn, including 2.9 m of 1,204 g/t AgEq, or 636 g/t Ag, 1.36 per cent Cu, 3.9 per cent Pb and 7.17 per cent Zn (hole 20-044);
• 3.1 m of 1,334 g/t AgEq, or 1,197 g/t Ag and 1.38 per cent Cu (hole AL20-046);
• 3.7 m of 761 g/t AgEq, or 528 g/t Ag, 0.83 per cent Cu, 2.43 per cent Pb and 1.47 per cent Zn (hole AL20-064);
• 1.25 m of 1,309 g/t AgEq, or 415 g/t Ag, 2.68 g/t Au, 1.37 per cent Cu, 6.20 per cent Pb and 9.19 per cent Zn, including 0.95 m of 3,282 g/t AgEq, or 1566 g/t Ag, 6.72 g/t Au, 4.48 per cent Cu, 9.27 per cent Pb and 10.08 per cent Zn (hole AL19-025);
• 5.1 m of 870 g/t AgEq, or 769 g/t Ag and 0.76 per cent Cu, including 3.1 m of 1,334 g/t AgEq, or 1197 g/t Ag and 1.38 per cent Cu (hole AL20-046);
• 1.10 m of 1,186 g/t AgEq, or 729 g/t Ag, 1.73 g/t Au, 0.13 per cent Cu, 3.05 per cent Pb and 5.73 per cent Zn (hole AL19-034).

About Minaurum Gold Inc.

Minaurum is a Mexico-focused explorer concentrating on the high-grade 100-per-cent-owned fully production permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams, and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier 1 precious and base metals projects.

Data review and verification

Stephen R. Maynard, vice-president of exploration of Minaurum and a qualified person (QP) as defined by National Instrument 43-101, reviewed and verified the assay data, and has approved the disclosure in this news release. Verification was done by visual inspection of core samples and comparison with assay results. Assay results have not been checked by reanalysis. No factors were identified that could materially affect the accuracy or reliability of the data presented in this news release.

Analytical procedures and quality assurance/quality control (QA/QC)

Preparation and assaying of drilling samples from Minaurum's Alamos project are done with strict adherence to a QA/QC protocol. Core samples from the 2024 program are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed courier to ActLabs preparation facility in Zacatecas, Mexico. ActLabs prepares the samples, crushing them to 70 per cent less than two millimetres (mm), splitting off 250 grams (g) and pulverizing the split to more than 85 per cent passing 75 microns. The resulting sample pulps are prepared in Zacatecas and then shipped to Vancouver for chemical analysis by ActLabs. The pulps are analyzed for gold by fire assay and ICP-AES (inductively coupled plasma atomic emission spectroscopy) on a 50-gram charge. In addition, analyses are done for a 48-element suite using four-acid digestion and ICP (inductively coupled plasma) analysis. Samples with silver values greater than 100 g/t, and copper, lead or zinc values greater than 10,000 ppm (1 per cent), are reanalyzed using four-acid digestion and atomic absorption spectrometry (AAS).

Quality control samples are inserted in the sample stream every 20 samples and thus represent 5 per cent of the total samples. QC samples include standards, blanks and duplicate samples. Standards are pulps that have been prepared by a third party laboratory; they have gold, silver and base metal values that are established by an extensive analytical process in which several commercial labs (including ActLabs) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than 0.005 ppm gold; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half and then quartered. The first quarter is the original sample; the second becomes the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.

When final assays are received, QC sample results are inspected for deviation from accepted values by the qualified person. To date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.

ActLabs is independent of Minaurum Gold and is independent of the qualified person.

We seek Safe Harbor.