ST. JAMES GOLD CORP. MOBILIZES DRILL AND CREWS TO THE FLORIN GOLD PROJECT IN YUKON TERRITORY, CANADA

Vancouver, British Columbia, July 05, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has commenced camp construction and mobilized drill equipment and crew to the road accessible Florin Gold Project which is host to the 2.47 million ounce Florin Inferred Resource^*, located within the Florin Project area, 60 km northwest of Mayo County, Yukon Territory, Canada (Fig 1).

Figure 1: Location of Florin Gold Project

* The Florin Gold Project contains an inferred resource of 2,474,000 oz gold contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30g/t, at a $1,650 gold price. For additional information, see the Technical Report prepared in accordance with National Instrument 43-101 entitled Florin Gold Project NI 43-101 Technical Report, Mayo and Dawson Mining Districts, Yukon Territory, by Ronald G Simpson, P.Geo. of GeoSim Services Inc., dated April 6, 2021, a copy of with is available under the Company’s SEDAR profile.

The 16-member crew will oversee a diamond drill program of up to 8,500 metres. The drill program is aimed at expansion of the 2.47 million ounce inferred gold resource which is contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30 g/t^* and sits on a northwest striking structure known as the Jethro Fault. Highlights of the proposed drilling campaign include:

• Mobilization of crew and the initiation of camp construction
• A drill program between 7,000 and 8,500 metres planned to increase the existing inferred gold resource
• Priority step-out drill targets adjacent to existing resource
• Approximately 900 metres of a 5-kilometre structure drill-tested to date
• 2021 soil geochemistry results better define 2022 drill targets
• Interpretation of the 2021 LiDAR survey to better define structural targets for the 2022 drill program

The existing inferred resource is based on drilling approximately 900 metres along the strike of the fault, which has been traced for five kilometres and is the site of three further, significant geochemical anomalies. The planned program intends to drill up to 30 priority targets down to a depth of 400 metres in two target areas: