Snowline drills 3.6 m of 13.72 g/t Au at Einarson

Mr. Scott Berdahl reports

SNOWLINE GOLD EXTENDS HIGH GRADE FOOTPRINT WITH 13.7 GRAMS PER TONNE GOLD OVER 3.6 METRES AT ITS JUPITER ZONE, EINARSON

Snowline Gold Corp. has released additional assay results from phase 1 drilling at the Jupiter zone on its district-scale Einarson gold project in Yukon, Canada. The highlight of these results are from hole J-21-015, which was collared 153 metres northwest of previous holes J-21-010 to J-21-013 (see Snowline press releases dated Aug. 25, 2021, and Oct. 13, 2021). The hole intersected a wide, mineralized quartz-carbonate breccia which averaged 13.7 g/t Au over 3.6 metres beginning at 119.1 metres down-hole.

Brecciated and stylolitic textures dominate the quartz carbonate zone. Siltstone wall-rock clasts and acicular arsenopyrite comprise grey areas, with pyrite also present. The predominantly siltstone section immediately above the main vein (119.1 - 119.75 m) returned 17.5 g/t Au over 0.65 m. The 0.95 m interval at the base of the zone (121.75 m to 122.7 m) returned 25.2 g/t Au. The two 1.0 m samples from between these returned 7.17 g/t Au and 6.89 g/t Au. True width of the zone is not known but is estimated between 50 per cent to 70 per cent of the down-hole width.

"We are excited to intersect additional high-grade gold mineralization in this significant step-out from our discovery holes," said Scott Berdahl, chief executive officer (CEO) and director of Snowline. "Jupiter is a blind target-it's close to the surface but covered by thin overburden. We did not have a mineralized discovery outcrop to trench nor to drill, so our phase 1 holes were somewhat random tests of a blind system. Nonetheless, these drill holes are regularly hitting gold, and this latest intersection further expands the footprint of known in-situ mineralization. We still have a lot to learn, and have yet to delineate the length, depth or even the breadth of the gold system. We are eagerly awaiting assay results from the remaining five holes at Jupiter, as well as all four holes from the Valley zone on our Rogue project."

Assay results for five drill holes are still pending. Snowline's 2021 drill campaign is the first ever drill testing of the recently identified Jupiter zone on the district-scale Einarson gold project.

Drill hole descriptions

Massive to brecciated, well-mineralized quartz-carbonate material was intersected in drill hole J-21-015 at 119.1 m down-hole, containing grey siltstone fragments and intercalated siltstone layers. Well-developed acicular arsenopyrite crystals (up to 10 per cent locally) occur in and near stylolites in quartz, within mineralized siltstone fragments and in vein selvages. Pyrite occurs as medium to coarse grained crystals in quartz and host rocks. The highest gold grades occur towards and within the margins of the vein system (Table 1).

Hole J-21-016 was collared from the same drill pad as J-21-015 but drilled at a steeper angle. Assays have been received for the top 174 m of this 233 m hole, while assays below this remain pending. This hole hit zones of hydrothermally altered siltstone and small, non- to subtly mineralized quartz veins. Assay results received from J-21-016 so far end in a zone of low-grade mineralization (0.20-0.87 g/t Au) and similarly veined material extends below; assays pending from the bottom of the hole will provide additional information. The hole provides valuable context for delineating the extent of mineralized system.

Holes J-21-008 and J-21-014 were drilled in the vicinity of earlier holes (J-21-001 to J-21-007 and J-21-009) and they both intersected zones of altered siltstone, and minor mineralized quartz-carbonate veins. J-21-008 intersected quartz veins around a sulphide-bearing fault zone that assayed 1.28 g/t Au over 3.5 m from 66.5 m down-hole.

J-21-014 intersected 3.29 g/t Au over 0.8 m from 38.4 m down-hole. This interval also returned high antimony (127 ppm) relative to most other holes. Antimony is an important associated element in the highest-grade zones in epizonal orogenic gold systems such as Fosterville in Australia or Queensway in Newfoundland. As such, this information may prove useful in vectoring towards any such centers of the system present at Jupiter, if they are present.

True widths have not yet been determined for these intervals.

Drilling at Jupiter has so far tested only parts of a 1.1 km length within the roughly 3 km long gold-in-soil anomaly. The strongest assay results thus far are from the south end of this partially tested length and visible gold was encountered at its north end. The gold system remains open in all directions.

Jupiter likely represents an epizonal orogenic gold system. It is one of ten target zones prospective for orogenic and/or Carlin-style gold mineralization currently recognized on Snowline Gold's 70-per-cent-owned, district-scale Einarson project. Adjacent projects Rogue and Ursa are prospective for intrusion-related gold, and sediment-hosted gold and base metal deposits. No resources nor reserves have been estimated for any of these targets, and while current results are encouraging, they do not guarantee that economically viable ore bodies will be encountered at Jupiter or elsewhere.

Table 1 - hole details and notable intervals in holes for which assays have been received since Snowline's Oct. 13, 2021, news release. True widths are not yet known with certainty but in hole J-21-015 are estimated to run between 50 per cent and 70 per cent of reported down-hole intervals. Note that J-21-016 has not yet been assayed in its entirety, with additional assays expected from the bottom of the hole.