Contact Gold Corp. provided initial results from geochemical sampling at the Green Springs gold project located on the prolific Cortez Trend in northeastern Nevada. The geochemical sampling program was designed to increase confidence in planned drill targets ahead of the 2024 drill program.

Rock sampling to the east of the Alpha Zone returned 3.64 g/t Au, 1.68 g/t Au, and 0.86 g/t Au, further validating the potential along the key X-Ray - Alpha - Tango corridor. 2023 Green Springs Rock and Soil Sampling Program: 268 Rock samples collected for analysis across key areas of Green Springs. 3.64 g/t gold sample in the Green Springs database.

The three rock samples from Alpha also returned high silver values of 12.9 g/t Ag, 14.5 g/t Ag, and 10.6 g/t Ag. Results are pending for 40 rock samples collected in October. The mineralized samples are associated with variable iron oxides, and moderate silicification.

The samples were collected 190 metres to the East of the current drill pattern at Alpha, representing a logical and straightforward opportunity to extend mineralization in the 2024 drill program. Alpha Zone Rock Sampling - Gold. Rock and soil sampling are a key exploration tool for Carlin Type gold deposits in Nevada and the wider Great Basin.

The anomaly in the upper Chainman is important as it may represent leakage over higher grade mineralization within the known lower Chainman limestone host horizon. The Zulu target is supported by CSAMT anomalies and mapped faults at the surface, and it will be a key drill target for the 2024 program at Green Springs. The 2023 program was completed under Year 1 of the Centerra Earn In, a four year USD 10 million earn-in with a wholly-owned subsidiary of Centerra Gold Inc. ("Centerra").

Contact Gold is the project operator and remains the 100% owner of Green Springs until the completion of all earn-in requirements. Green Springs is an early-stage exploration property and does not contain any mineral resource estimates as defined by NI 43-101 due to insufficient exploration to define such a mineral resource estimate. Additional information about Green Springs is summarized in the NI 43-101 Technical Report entitled, "NI 43-101 Technical Report for the Green Springs Project, White Pine County, Nevada, USA" prepared for Contact Gold, with an effective date of June 12, 2020, and dated August 5, 2020, by John J. Read, C.P.G; an independent consultant and qualified person under NI 43-101, and can be viewed under NI 43-101.