Antilles Gold Limited advises that it has received additional assays from a 1,800m drilling program conducted in September 2022 on the El Pilar gold-copper oxide deposit in central Cuba. The assays were undertaken by SGS's certified laboratory in Canada, and have validated those previously carried out by the LACEMI laboratory in Cuba. A drilling program will commence in April 2023 on the gold and copper oxide domains, and on targets within a cluster of porphyry intrusives at El Pilar It is anticipated that the Mining Concession covering the oxide deposit, which permits mining to a depth of 100m, will be transferred to the existing joint venture company, Minera La Victoria SA ("MLV"), in the near future, and based on results from 28,000m of historic drilling and the recent 1,800m, a low capex mine could potentially be developed soon after construction commencement of the proposed La Demajagua gold, silver, antimony open pit mine which should be "development ready" by mid 2023.

A Cayman Islands registered subsidiary, Antilles Gold Inc. ("AGI"), currently holds 49% of MLV but it has recently been agreed that the shareholding will be increased to 50% to better reflect the partnership with the Cuban Government's mining company, GeoMinera SA, and that MLV will be permitted to carry out multiple gold projects.