Moneta Gold Inc Com MPUCF

July 15 - New Drill results - Looks good!

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1NEWS RELEASE –12/2021Symbol: TSX: ME FOR IMMEDIATE RELEASEMONETA CONTINUES TO EXTEND GOLD MINERALIZATION ON THE WESTAWAY DEPOSIT WITH UP TO 8.00 M @ 5.34 G/T GOLD AND 19.30 M @ 3.94 G/T GOLDToronto, Ontario–July 15,2021-Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MEAUF) (XETRA:MOP) (“Moneta”or the “Company”) is pleased to announce the partial results fromfourteen(14)holesdrilled to test the resource extension potential of the Westaway underground gold resourcelocated on the Golden Highway area of the Tower Gold Project. The drillholesweredrilled as part of the expanded 2020/2021winter drill programon the Tower Gold Project located 100km east of Timmins, Ontario.Highlights:Drilling has intersected significantgold mineralization in resource step outdrillholes at Westaway extending gold mineralization beyond the current resource estimate:•MGH21-197, located within the West Block areaextended gold mineralization to the south and at depth: oIntersected 8.00metres “m” @ 5.34grams per tonne “g/t”gold “Au” including4.00 m @ 10.01g/t Au, including 2.00 m @ 15.25g/t Au, including 1.00 m @ 17.60 g/t Au•MGH21-196, located within the West Block areaextended gold mineralization to the south and to depth:oIntersected 19.30m @ 3.94g/t Au, including 4.50m @ 8.09g/t Au, including 1.70 m @ 16.82 g/t Au, including 0.70 m @ 20.00 g/t AuoIntersected 3.45 m @ 6.86 g/t Au•MGH21-190, located on the western and depth extensions of the Westaway resource:oIntersected 7.10 m @ 2.98g/t Au,including 4.90 m @ 4.06 g/t Au, including 0.54 m @ 7.64 g/t Au•MGH21-186,located 300 m south of the current resources in the South Basinarea: oIntersected 7.00 m @ 2.13 g/t Au including 1.00 m @ 5.39 g/t AuoIntersected 4.00 m @ 3.32 g/t Au including 1.00 m @ 8.95 g/t AuoIntersected 5.00 m @ 4.78 g/t Au including 1.00 m @ 8.36 g/t Au“Weare excitedto continue to intersect significantgoldmineralization from drill holes in our resource expansion drilling at the new Westaway deposit.”, commented CEO,Gary O’Connor.“The drilling has intersectedgold mineralization in large step-outs to the south and west as well as at depth as we look to expand the current underground gold resources at Westaway.Additional holes and assays are still pending from the current drill program which has been testingthe resource expansion potentialat Westway. Resource expansion drilling is also ongoing on the South West, Windjammer South and 55 resource areas as well as the new Halfway target. The Westaway underground resource currently consists of 662,000 ouncesgold inferred resources at a 3.00g/t Au cut-off within a total Tower Gold projectresource of 4.00 Moz gold indicated and 4.40 Moz gold inferred.” The latest assay results are from partial results from fourteen(14)drill holes for a total of 9,518.0m of drilling,completed as part of the current 70,000 m 2020/2021winter drill program. The fourteenpartially 2reported holes were targeting the extensions of thenew Westaway resourceto the south, west, east and at depth. Additional assays for the fourteen holes and results from additional drilling, notably to the westand at depth, are still pending. The current drilling was mostly focussed on testing clastic Timiskaming age sediment host rocks to the immediate south of the regional banded iron formation (“BIF”) Cunitand the gabbro intrusion, in a geological setting currently not hosting significant resourcesonthe Tower Gold project.Table 1: Selected Significant Drill ResultsProjectTargetHoleFrom ToLengthAuVein(Area)(Name)(#)(m)(m)(m)(g/t)NameGHWWAMGH21-176189.00190.001.003.65NewGHWWAMGH21-176200.00202.702.701.88WA-12includes202.00202.700.705.38WA-12GHWWAMGH21-177566.00568.002.003.13WA-2includes567.00568.001.005.38WA-2GHWWAMGH21-17870.9078.007.100.84WA-14includes75.0077.002.001.35WA-14GHWWAMGH21-181108.00114.006.000.69WA-9 includes108.00108.500.504.40WA-9 GHWWAMGH21-182431.20435.103.901.14WA-5includes431.20433.001.802.01WA-5GHWWAMGH21-183766.70769.002.301.50WA-2includes766.70767.500.803.73WA-2GHWWAMGH21-186322.00340.0018.001.18WB-11includes324.00331.007.002.13WB-11includes326.00327.001.005.39WB-11and 334.60335.200.603.65WB-11GHWWAMGH21-186352.00356.004.003.32Newincludes352.00354.002.005.57Newincludes352.00353.001.008.95NewGHWWAMGH21-186372.00377.005.004.78Newincludes376.00377.001.008.36NewGHWWAMGH21-188235.00240.005.000.98WB-12includes238.00239.001.003.34WB-12GHWWAMGH21-188331.00333.002.001.22Newincludes332.25333.000.753.23NewGHWWAMGH21-188558.00574.8016.800.96WB-5includes558.00560.002.003.76WB-5includes558.00559.001.004.71WB-5GHWWAMGH21-190478.50485.607.102.98WA-1includes480.70485.604.904.06WA-1