Blackwolf Copper and Gold Announces Flow-Through Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / August 9, 2022 / Blackwolf Copper and Gold Ltd. ("Blackwolf" or the "Company") (TSXV:BWCG)(OTC PINK:BWCGF) announces that it has completed a non-brokered private placement (the "Offering") selling 333,360 flow-through shares (the "Flow Through Shares") at price of $0.45 per Flow Through Share for aggregate gross proceeds of $150,012.

The net proceeds of the Offering will be used to fund exploration activities at the Company's Rooster Property, located northwest of Stewart, BC and Hyder, Alaska.

The Company paid a finder's fees of $9,001 and issued 23,335 share purchase warrants (the "Finder's Warrants") in connection with the Offering. Each Finder's Warrant is exercisable to acquire one share in the capital of the Company at an exercise price of $0.45 per share for a period of twelve (12) months following closing of the Offering,

The Offering remains subject to final approval of the TSX Venture Exchange. The securities issued under the Offering are subject to a statutory hold period of four months plus one day.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Blackwolf Copper and Gold

Blackwolf's founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater, as well as the Cantoo, Casey, Texas Creek and Mineral Hill gold-silver and VMS Properties in southeast Alaska and Rooster Property in northwest BC. For more information on Blackwolf, please visit the Company's website at www.blackwolfcopperandgold.com.