News Press Releases

Warrior Gold Starts Drill Program

V.KLDC | January 7, 2021

Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce that the Winter 2021 diamond drill program comprising 3,000 metres in 13 holes has commenced on the Company’s 100%-owned Goodfish-Kirana Property. The drill program will test downdip and along-strike-extension targets at the ‘A’ and ‘C’ Zones as well as a structural/geophysics-indicated target 500 m east of the ‘A’ Zone.

Danièle Spethmann, President & CEO, stated, “We are excited to get our winter drill program under way as a follow-up program to our successful 2020 summer drill campaign which intersected anomalous and high-grade gold in eight of nine drill holes, including one of the highest-grade intervals drilled by Warrior Gold that intersected 2.65 g/t Au over 22.3 m, including 6.70 g/t Au over 7.4 m within 1.22 g/t Au over 74 m. The Warrior Gold team has advanced the geological model identifying areas with potential to expand the known mineralization and will also test a new target located 500 m east of the ‘A’ Zone. With the closing of the recent private placement in late December, we are well-funded to complete the drill program and to continue advancing the Goodfish-Kirana Property.”

Drill Program

The drill program will test the ‘A’ Zone downdip (1 hole) and 150 m of strike extension to the east and west in 50-m step-outs (7 holes), as previous drill campaigns indicate the ‘A’ Zone discovery is open in all directions.

The drilling planned for the ‘C’ Zone will continue to test the east-west mineralization trend to the east in 50-m step-outs (2 holes) and downdip of gold intersections (1 hole) from previous drill programs.

Two drill holes will test a structural target located 500 m east of the ‘A’ Zone where an IP anomaly (Induced Polarization) is coincident with an interpreted north-northwest structural break (based on magnetic survey data).

The Winter 2021 diamond drill program is being undertaken with additional COVID-19 protocols to comply with the Ontario Ministry of Health requirements.

The technical information contained in this news release has been approved by Melissa Render, P.Geo, Principal Consulting Geologist for Warrior Gold, who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Corporate Update

Warrior Gold is also pleased to announce the appointment of Daniel Rodriguez to lead Corporate Development. Daniel brings over 14 years of capital markets and financial service experience. Previously Daniel was an Investment Advisor with a focus on junior mining and most recently he managed a retail branch bank for one of the large Canadian banks. He holds a BA from the University of Toronto and both CIM and CFP designations.

The Company also announces that it will be participating in this year’s AME Remote Roundup conference held virtually January 18-22, 2021. For more information and to register please visit https://roundup.amebc.ca/ .

About Warrior Gold Inc.

Warrior Gold is a TSX Venture Exchange-listed company that owns the Goodfish-Kirana Property located five km from the town of Kirkland Lake, Ontario. The Property is located in the historic Kirkland Lake Gold Camp which is situated in the prolific Abitibi Greenstone Belt, recognized as one of the world’s highest grade greenstone belts with over 200 million ounces of gold produced to date.

The Goodfish-Kirana Property is 11.5 km long by roughly three km wide (34 km 2 ) and contains three major structural trends: the east-west trending Kirana Deformation Zone; the northeast-trending Goodfish Deformation Zone; and the Victoria Creek Deformation Zone on the recently acquired Sutton claims on the northeast side of the property. The Property contains numerous historical gold showings, as well as 18 historical pits and shafts.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", “anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2019 and the first quarter ended June 30, 2019, which are available at www.sedar.com . The forward-looking statements contained in this press release are made as of the date hereof and Warrior Gold undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This press release does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this press release nor anything contained in it shall form the basis of any contract or commitment. In particular, this press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.