Drilling Update for Golden Zone Alaska Project

TORONTO – Avidian Gold Corp. reported an exploration update for its district scale (125.5 sq. km) Golden Zone Project in south-central Alaska. The property is located midway between Anchorage and Fairbanks and only 10 km west of paved State Highway 3, the Alaska Railroad and the 345 kV Alaska Intertie power lines. Drilling commenced on August 12, 2021 and to date the has achieved the following: Completed over 1,250 m of RC drilling from a 5,000 m drill program; Extended mineralization by 200 m at the Mayflower Extension Zone (MEZ) which is still open at depth and along strike to the northeast; Shipped the first batch of drill samples to ALS Global for analysis; Completed 1,200 line km of drone magnetic survey; and Completed its reconnaissance mapping and sampling program over JJ-J4 and MJ targets.

The mineralization encountered by the current RC drill program at the MEZ appears to be very similar to what was encountered in the 2017 and 2018 core holes, extending the mineralized zone to the northeast by 200 m, giving it a total strike length of approximately 600 m of new mineralization adjacent to the Breccia Pipe Deposit. The drill holes are shallow with vertical depths less than 150 m leaving the deposit open at depth and along strike to the northeast. The Breccia Pipe Deposit hosts a NI 43- 101 indicated gold resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an inferred gold resource of 35,900 ounces (1,353,000 tonnes at 0.83 g/t Au).

At the current pace of drilling the Golden Zone program is expected to be completed by mid-September. Once drilling wraps up at Golden Zone the plan is to mobilize the drill to Amanita to follow up on the near-surface oxide gold encountered in the 2020 core program and 2019 trenching program.

Avidian geologists have completed detailed field mapping, prospecting and sampling on select locations in order to follow up on previous reconnaissance mapping and sampling initiatives that yielded highly anomalous gold and copper results, (JJ-J4 and MJ discovery areas – grab samples of 5.17 g/t Au and 4.2 g/t Au plus 2.77% Cu and Silver Kitty discovery – grab sample of 12.5 g/t Au). New areas of sulphide mineralization were also noted and sampled. It should be noted that, due to their selective nature, assay results from grab samples noted above may not be representative of the overall grade and extent of mineralization on the subject areas.

The primary objective of the drill program is to follow up on MEZ mineralization which lies to the northeast of the Breccia Pipe deposit and is believed to have the highest potential to add ounces to the Breccia Pipe Deposit. Previous drilling by Avidian at the MEZ returned 21.6 m grading 1.46 g/t Au in a conglomeratic unit and 17.7 m grading 2.12 g/t Au in the same conglomerate unit on a 50-meter step out hole.

Drilling will also focus on the Copper King prospect approximately 4 km to the south of the Breccia Pipe Deposit. The program is designed to follow up on a previous exploration campaign that yielded: 9.1 m grading 8.71 g/t Au, 80.8 g/t Ag and 3.57% Cu from 3.9 m to 13.0 m in drill hole CK18-01; A surface trench (T18-09) located in the same vicinity as hole CK18-01 returned 30.0 m grading 2.24 g/t Au, 67.2 g/t Ag and 2.79% Cu; and 3.0 m grading 16.08 g/t Au, 50.6 g/t Ag and 0.78% Cu was encountered in a trench located 750 m south of the high-grade Copper King mineralization, which attests to the size of the mineralizing system in the Copper King/Long Creek area. This mineralization is located on the southern flank of a large CSAMT anomaly and is hosted in a conglomeratic unit.