News Press Releases

Japan Gold Provides an Update on the Barrick Alliance

V.JG | November 22, 2022

Vancouver, British Columbia--(Newsfile Corp. - November 22, 2022) - Japan Gold Corp. (TSXV: JG)(OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to provide an update on work programs at Barrick Alliance projects in Kyushu and Hokkaido (Figure 1).

Following the announcement of Barrick's selection of six Japan Gold projects in early September, work programs immediately commenced on priority targets in Kyushu and Hokkaido (Figure 1). Refer to the Company's news release dated September 6, 2022, for more information on the Barrick Alliance selection of projects for advancement.

Kyushu

Mizobe Project

An Induced Polarization (IP) geophysical survey comprising 14.6-line kilometers was completed over the eastern part of the Mizobe Project in September. IP surveying was carried out over a 2.5 by 2.5 km area containing mineralized river-float and localized outcrops exhibiting strong alteration and gold and pathfinder element anomalism, significant portions of this target area are concealed by a veneer of younger volcanic ash and welded tuff. The IP survey was aimed at mapping subsurface chargeability and resistivity features potentially representing buried mineralization and surrounding alteration haloes. From interpretation of combined data sets an initial three drill holes are planned to be commenced in January 2023.

The Mizobe Project is located in the Hokusatsu Region of Southern Kyushu in a similar geological setting to Sumitomo Metal Mining's Hishikari gold mine, located 23 km to the north, (Figure 2).

Ebino Project

Induced Polarization surveying was completed in early November at the Otsuka prospect within Ebino Project, located 12 km north of the Hishikari mine, (Figure 2). A total of 9.4-line km were completed along a 4 km long alteration zone which overlies well-defined gravity anomalies. Gravity anomalies are a key feature associated with epithermal vein deposits in the Hokusatsu Region. Geological mapping is planned to be completed over the Otsuka prospect in November to aid in definition of drill targets for 2023 if warranted.

Hokkaido

Aibetsu Project

Detailed mapping and outcrop sampling to define the source of highly elevated gold and pathfinder element anomalies identified from BLEG sampling over a contiguous 5 by 5 km zone at the Aibetsu project was completed in October, (Figure 3). Mapping has defined two extensive clay alteration zones with associated quartz vein mineralization. Preparations are now underway for IP surveying to cover priority areas in 2023 to advance drill targeting within the project.

Hakuryu Project

Detailed mapping and outcrop sampling was recently completed over the Yakiyama prospect located within the Hakuryu Project. The Hakuryu Project covers the southern half of the Konomai vein field which produced 2.35 Moz of gold between 1915-731, (Figure 3). A combination of coherent BLEG gold and pathfinder element anomalies shedding from high elevations and well-preserved volcanic stratigraphy are the target of investigation for concealed extensions to the Konomai vein field. Mapping has confirmed extensive alteration and localized quartz veining. A positive interpretation of results from the mapping program will be followed up with IP surveying in 2023 to advance drill targeting.

Reference

1Gold Mines in Japan, The Mining & Materials Processing Institute of Japan, 1990.

On behalf of the Board of Japan Gold Corp.

"John Proust"

Chairman & CEO

Qualified Person

The technical information in this news release has been reviewed and approved by Japan Golds Vice President of Exploration, Andrew Rowe, BAppSc, FAusIMM, FSEG, who is a Qualified Person as defined by National Instrument 43-101.

About Japan Gold Corp.

Japan Gold Corp. is a Canadian mineral exploration company focused solely on gold exploration across the three largest islands of Japan: Hokkaido, Honshu and Kyushu. The Company has a country-wide alliance with Barrick Gold Corporation to jointly explore, develop and mine certain gold mineral properties and mining projects. The Company holds a portfolio of 31 gold projects which cover areas with known gold occurrences, a history of mining and are prospective for high-grade epithermal gold mineralization. Japan Gold's leadership team represent decades of resource industry and business experience, and the Company has an operational team of geologists, drillers and technical advisors with experience exploring and operating in Japan. More information is available at www.japangold.com or by email at info@japangold.com

For further information please contact:

John Proust
Chairman & CEO
Phone: +1 778 725-1482
Email: info@japangold.com
Website: www.japangold.com

Cautionary Note

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements relating to expected or anticipated future events and anticipated results related to future partnerships and the Company's 2022 gold exploration program. These statements are forward-looking in nature and, as a result, are subject to certain risks and uncertainties that include, but are not limited to, general economic, market and business conditions; competition for qualified staff; the regulatory process and actions; technical issues; new legislation; potential delays or changes in plans; working in a new political jurisdiction; results of exploration; the timing and granting of prospecting rights; the Company's ability to execute and implement future plans, arrange or conclude a joint-venture or partnership; and the occurrence of unexpected events. Actual results achieved may differ from the information provided herein and, consequently, readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this News Release. The Company disclaims any intention or obligation to update or revise forward‐looking information or to explain any material difference between such and subsequent actual events, except as required by applicable laws.

Figure 1: Barrick Alliance and Japan Gold Projects across Japan