Hanstone Gold Corp V.HANS

Handstone Gold Conducts Private Placement

[yukon_gold]

HANSTONE GOLD CONDUCTS PRIVATE PLACEMENT

VANCOUVER, BC – December 22, 2021 – Hanstone Gold Corp. (TSXV: HANS) (FSE: HGO) ("Hanstone" or the "Company"), is pleased to announce that, effective December 23, 2021, it will close a non-brokered private placement (the “Offering”) under which Hanstone will raise aggregate gross proceeds of $772,500.

The Offering consists of the issuance of: (i) an aggregate of 1,395,000 units of the Company (the “Units”) at a price of $0.20 per Unit for gross proceeds of $279,000, and (ii) an aggregate of 1,974,000 “flow-through” common shares of the Company (the “FT Common Shares”) at a price of $0.25 per FT Common Share for gross proceeds of $493,500. Each Unit is comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire an additional Common Share (a “Warrant Share”) at a price of $0.30 per Warrant Share for 12 months from the date of issuance, provided that if the Common Shares trade at or above $0.40 per share for 10 consecutive trading days, then the expiry date of the Warrants will be automatically accelerated to the date that is 30 days after the date the Company provides an acceleration notice by press release to the holders of the Warrants.

The Company intends to use the proceeds from the Offering for its ongoing exploration drilling program, working capital requirements and other general corporate purposes. The proceeds received by the Company from the sale of FT Common Shares will be used to incur eligible "Canadian exploration expenses" (“CEE”) that are "flow-through mining expenditures" (as such term is defined in the Income Tax Act (Canada)) related to the Company’s Doc and Snip North projects. The Company will renounce such CEE to the purchasers of the FT Common Shares with an effective date of no later than December 31, 2021. The proceeds received by the Company from the sale of Units will be used for working capital requirements and other general corporate purposes.

In connection with closing, the Company will pay finder’s fees of $7,350 and will issue 31,150 non-transferable compensation options, each entitling the holder thereof to purchase one Common Share at an exercise price of $0.30 for 24 months, provided that if the Common Shares trade at or above $0.40 per share for 10 consecutive trading days, then the expiry date of the compensation options will be automatically accelerated to the date that is 30 days after the date the Company provides an acceleration notice by press release to the holders of the compensation options.

The closing of the Offering is subject to the receipt of the approval of the TSX Venture Exchange. The securities issued under the Offering will be subject to a four month hold period expiring April 24, 2022. There is no material fact or material change about the Company that has not been generally disclosed.

About Hanstone Gold

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.

Ray Marks
President and Chief Executive Officer

For Further Information Contact:

Carrie Howes
Director of Communications
[phone], [e-mail]
Or visit the Company’s website at www.hanstonegold.com