Gander Gold Corp. reported that multiple high-priority gold targets for 2023 drilling have been identified at the Company's 485 sq. km Gander North Project across a 25-km-long east-northeast- trending series of structures considered highly prospective for Newfoundland's next significant high-grade discovery.

The 2023 field season begins in May. In addition to its flagship Gander North Project, Gander Gold has also made important progress at its Mount Peyton, BLT and Cape Ray properties, with updates expected over the coming weeks. Gander Gold launched on the Canadian Securities Exchange in March 2022 and has a combined ownership of 50.2% between Sassy Gold (35.3 million shares or 38.6 %) and Eric Sprott (10.6 million shares or 11.6%).

Less than one million warrants (714,704) are outstanding. Since initiating work at the 485 sq. km Gander North Project in May 2021, Gander Gold has conducted one of the island's most comprehensive grassroots gold exploration programs consisting of airborne geophysical surveys (MAG-VLF, LiDAR), the collection of 12,342 C-horizon soil samples, local "GT Probe" geochemical follow-up surveys, structural interpretation, prospecting and geological mapping of select target areas within the project.

Exploration Highlights: Among the C-horizon soil samples collected at Gander North since 2021, 932 samples are considered "anomalous" (>7.1 - 24.8 ppb Au), 185 "very anomalous" (>24.8 - 56.2 ppb Au) and 123 "extremely anomalous" (>56.2 - 1432.1 ppb Au), including 72 samples 100 ppb Au; Within the soil and rock geochemistry database, there is evidence of anomalous Mo, Cu and Pb which suggests the potential for epithermal-mesothermal type system(s) occurring within the Gander North Project area; There is a direct correlation of anomalous to extremely anomalous Au-in-soil associated with identified east-northeast crosscutting structures and associated splays as evidenced by numerous 100 ppb Au soil samples occurring along these features, indicating a potential gold source (mesothermal) within these structures. Follow up mapping and prospecting of these structures has identified multiple quartz veins and zones of quartz flooding related to the structures and splays.