Reliant Gold Provides Corporate Update and Progress Report on Its East Bay Property, Located in the McVicar Lake Area of Northwestern Ontario - Seite 4

The Act specifies that if and when a mineral exploration company wishes to carry out early exploration activities pursuant to an Exploration Plan, as prescribed in the accompanying Regulations, it must (i) engage in sharing of information and consultations with the First Nations Communities in the relevant region and (ii) submit an Exploration Plan to the MNDM, which is also provided to First Nations Communities in the relevant region. Reliant Gold strongly believes in early engagement and consultations with First Nations Communities in the relevant region, since such early engagement and consultations will help to build a collaborative relationship with our First Nations neighbors. In turn, participation from the First Nations Communities in the relevant region, at an early stage, will ensure that their concerns are reflected in and responded to in an Exploration Plan, even before it is submitted to the MNDM. In addition to the protocols of the MNDM, Reliant Gold may also be subject to other regulations and permit requirements before early exploration activities pursuant to an Exploration Plan, as prescribed in the accompanying Regulations under the Act, may be commenced.

"I look forward to initiating and fostering early and collaborative consultations with our First Nations neighbors in the relevant region," said Kabir Ahmed, Chairman, President and CEO of Reliant Gold. "It is only through such collaborative engagement and meaningful consultations - based on mutual respect - that the dual objectives of (i) respecting the concerns and rights of our First Nations neighbors and (ii) creating economic opportunities in northwestern Ontario by carrying out mineral exploration may both be achieved."

C. Flow-Through and Working Capital Financing Will Be Required

In addition to the required coordination and consultation that is expected to be carried out in collaboration with the MNDM and First Nations' Communities in the relevant region, it will be necessary, in the very near future, for Reliant Gold to raise a combination of Flow-Through ("FT") and Working Capital ("WC") financing in order to (i) fund early exploration activities at the Corporation's East Bay Property; (ii) evaluate and acquire additional mineral exploration projects; and (iii) meet the Corporation's ongoing working capital requirements, respectively. It is expected that the Corporation will make a public announcement if and when a financing is proposed to be carried out. Details of possible terms and conditions of any proposed financing will also be disclosed at that time.