FLORIN GOLD PROJECT

St. James Gold Corp. Is Pleased To Announce Updated Resource On The Florin Gold Project, Yukon, With An Inferred Resource Of 2,474,000 oz Of Gold*

Florin Gold Project – Regional Geology

• Inferred resource of 2.474 million ounces of gold in 171 million tonnes grading 0.45 g/t Au, with cut-off grade of 0.30 g/t Au at $1650/ oz gold.

• The inferred resource estimate is located within a large prospective intrusive host rock that through geophysical interpretation covers a large area of the property. The prospective target area inclusive of the inferred resource measures 5 kilometers x 2.5 kilometers and extends to in excess of 500 meters in depth. Geophysical data indicates the intrusive rock forms the core of the dome, suggesting many cubic kilometers of prospective host rock.

• 16,572 meters totalling 61 holes were previously drilled on the Florin Gold project.

• Less than 1% of the project land package has been drill tested, geochemical & geophysical data suggests that gold mineralization remains open in all directions, both laterally and extending to depth from surface.

• Drill ready and permit valid until March 2026.

• Excellent infrastructure, road access, nearby private air strip, 54 km northwest of Mayo Hydro Dam and the town of Mayo, 29 km west of Victoria Gold’s producing Eagle gold mine.

Location Map, Yukon Territory, Canada

*(Ronald G. Simpson, 2021)

Key Technical Points

• Drilling in an around the inferred resource area has not closed gold mineralization in any direction laterally or at depth, with the strongest mineralization open to extension along the NW Jethro Fault of the inferred resource and along strike to the SE where the Jethro and Treadwell Faults intersect.

• The completed VTEM geophysical survey outlines the potential scope of the identified prospective volume of the host rock target and prospective exploration targets for future drilling programs.

• Additional exploration programs were successful in defining prospective gold anomalies. Centered approximately 1 kilometer west of the current inferred resource the encouraging new exploration target exhibits a similar footprint to the inferred resource area with Geochem values at surface ranging from 99 ppb gold to 572.6 ppb gold over a broad area of approximately 1 km x 1 km. Another Geochem supported gold anomaly was also identified to the south east of the current resource area where the Treadwell fault intersects the Jethro fault.

Resource Drilling Area

Regional Activity

The project lies within the heart of the Tintina Gold Belt. Hart (2005) has estimated a total metal endowment on the order of 70 million ounces of gold within the Tintina gold belt. Key deposits include Brewery Creek, the Eagle deposit (Dublin Gulch/Victoria Gold) in the Yukon Territory and Kinross’s Fort Knox deposit, True North, Pogo and Donlin Creek in Alaska.

Kinross’ Fort Knox mine in Alaska with current Proven & Probable reserves of 3.37 million oz gold in 282 million tonnes at 0.37 g/t gold, plus past production of 7.5 million oz gold (J. Sims 2017 NI 43-101 Report).

The Brewery Creek deposit with 17.17 million tonnes at a gold grade of 1.45 g/t (0.726 million ounces; Barr, 2013).

Victoria Gold’s Eagle and Olive deposits with mineral resources estimates, (inclusive of proven & probable reserves of 3,261,000 oz gold in 155,000,000 tonnes at 0.65 g/t gold at $1,275/oz gold), which stand for Eagle at: measured & indicated 4,397,000 oz gold, in 217.4 million tonnes grading 0.63g/t gold, and inferred 361,000 oz gold in 21.5 million tonnes grading 0.52 g/t gold; and for Olive measured and indicated 329,000 oz gold, and 645,000 oz silver, in 9.5 million tonnes grading 1.98 g/t gold and inferred 210,000 oz gold and 400,000 oz silver in 7.3 million tonnes grading 0.89 g/t gold (2019 NI 43-101 Report)

The Florin Gold Project with an inferred resource of 2.474 million oz gold in 171 million tonnes grading 0.45 g/t Au, and cut-off grade of 0.30 g/t Au, pit constrained at $1650/ oz gold. (Ronald G. Simpson, 2021).

The Florin Gold tombstone intrusive is similar to other Intrusive deposit types in the area.