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Newsfile Corp Vancouver, British Columbia--(Newsfile Corp. - June 7, 2022) - Ready Set Gold Corp. (CSE: RDY) (FSE: 0MZ) (OTC Pink: RDYFF) ("Ready Set Gold" or the "Company") is pleased to provide a corporate and operational update relating to the activities of its restructured executive and board, Indigenous consultation process and activities at the Northshore and Hemlo Eastern Flanks Projects in Northern Ontario, Canada. Over the course of 2022, the executive team and board has undergone a significant restructuring, which has required a review of operational, financial, and legal considerations. Notwithstanding the challenges associated with multiple teams being historically involved in these Projects, the Company has made significant progress in terms of defining a path forward to position the Company for future opportunities. Management Commentary Mr. Alex McAulay, CEO and Director of the Company, comments: "The corporate restructuring of Ready Set Gold has proven to be challenge due to significant changes in the management, board, and the technical team of the Company. Nonetheless, despite the significant time required to locate and compile all the available historic exploration data, the Company can now move forward with a clear understanding of historic challenges. Historic resources and is currently updating the resource model at the Northshore Project, prior to committing additional capital to drilling or exploration work. The Company is fully committed to a respectful consultative process with local Indigenous groups, which have environmental and cultural considerations related to the regions in which we operate." Indigenous Consultation The management team of the Company has taken significant steps forward to engage with Indigenous groups. This includes initiating consultations with Indigenous groups for both projects, addressing a historical lack of communication from the Company, which caused delays in this important element of operating a mineral exploration company in Northern Ontario, Canada. The Company has engaged an experienced community and First Nations relationship consultant to assist with navigating the consultation process and assist the Company to ensure significant improvements in communications and engagement with First Nation project stakeholders. In discuss with First Nations bands, the Company has determined the Hemlo Eastern Flanks Project has several culturally sensitive areas with the project area, resulting in several issues to be addressed in the Consultation process. For this reason, the Company will be applying to the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry for an Exclusion of Time for the project claims. If granted, the Exclusion Order will extend the deadline for filing assessment requirements and allow the time necessary to meet and discuss all concerns the Indigenous groups may have. Any plans for future exploration will be contingent on a successful, and mutually beneficial outcome of the consultation process. Going forward, the Company will not be staking claims or acquiring projects without consultation with local First Nations in advance of acquisitions. Updated Mineral Resource Estimate for Northshore Corporate ownership of the flagship Northshore Project changed hands nine (9) times over the period from 1988 to 2022. During the first quarter of 2022, the Company compiled all the fragmented historical work that occurred during this period into a comprehensive and complete database. Now that this work is complete and has been thoroughly reviewed, the Company has decided to complete an update on the historical mineral estimate at the Northshore Project during the second and third quarter of 2022. The Northshore Project has a historical NI 43-101 mineral estimate which has not been updated since 2014. The key assumptions, parameters and methods used are provided in a Technical Report with an effective date of July 10, 2022, as prepared by SGS Canada Inc. and titled, "TECHNICAL REPORT ON THE NORTHSHORE GOLD PROPERTY," Thunder Bay Mining Division, Priske Township, Ontario, Canada by Allan Armitage, Ph. D., P. Geo., and Olivier Vadnais-Leblanc, B.Sc., Geo. This report can be located on SEDAR at www.sedar.com under the name OMNI Commerce Corp., with a filing date of January 21, 2021. This report completed reviews of the QA/QC for drilling data on the property to the end of 2014. Ready Set Gold cautions investors not to rely on this historical estimate, assumptions and parameters since a qualified person (QP) has not done sufficient work to estimate current mineral resources or mineral reserves on the Northshore Property. The new resource estimate will incorporate an additional 52 drill holes, provided since this report was done back in 2014. The Company is engaging a firm |