DFR Gold Inc. announced the completion of the first phase of a 10,000 metre drilling program (the Drilling Program) on the Cascades Project in Burkina Faso, West Africa as announced on 13 February 2023. The completion of 5,641 metres of reverse circulation drilling represents the latest part of a longer-term programme to systematically test exploration targets within the mineralised shear corridor at the Cascades Project. Highlights of the recent drilling include: 5,641 metres of Reverse Circulation drilled in 57 drillholes at five target areas Two significant new zones confirmed with resource potential from first pass drilling at Sina Yar and Far East targets Intersections at Sina Yar included 34 metres @ 1.83 grammes per tonne (g/t) of gold in CS23-RC077 from 50-84 metres At the Far East target a wide mineralised zone with 48m@ 0.42g/t Extension of the 2022 discovery zone from step-out drilling at the TT13 target The recently completed programme at the Cascades Project is the first part of a planned two-phase 10,000 metre programme.

This first phase targeted extensions to the current resources and several new targets: Two newly defined targets immediately north and southwest of the Daramandougou resource pit shell western Zone extension, and Dara North respectively Step-out drilling on the TT13 target, a significant new gold zone identified during 2022 First-pass drilling on three other newly delineated targets in the Wuo Land 2 licence area at Far East, Sina Yar and TT13-West Phase two of the Drilling Programme will be a results-driven follow-on programme targeting the highest priority results from the first phase. Drilling Progress Drilling commenced on 11 February 2023 and concluded on 18 April 2023 with 57 holes drilled for an aggregate of 5,641 metres. shows the planned drilling programme with the proposed holes and meterage versus actual drilling completed.

Fire assay results have been received while Bottle Roll analysis results are awaited. Drilling Results Sina Yar Ten drillholes were drilled for an aggregate of 903 metres. Significant mineralisation was intersected in each hole drilled.

In particular, three consecutive holes testing 250m metres of strike length of the main north-south trending structure in metasediments intersected significant widths of mineralisation as follows: CS23-RC077 50-84 metres, 34 metres @ 1.83g/t and CS23-RC077 23-29 metres 6 metres @ 1.14 g/t and CS23-RC078 53-71 metres, 18 metres @ 1.13g/t and CS23-RC078 74-78 metres, 4 metres @ 1.25g/t and CS23-RC078 88-96 metres, 8 metres @ 1.64g/t and CS23-RC078 103-113 metres, 10 metres @ 1.02g/t CS23-RC079 50-78 metres, 28 metres @ 0.53g/t The mineralisation is hosted by narrow quartz veins within a north-south trending mineralised envelope hosted by a banded greywacke and sandstone metasedimentary sequence. Sina Yar is currently the target of significant artisanal mining activity. Mineralisation appears open to the north of the drill tested area.

In the more southerly holes mineralisation was weaker and patchier although artisanal activity remains intense. A highly altered felsitic intrusion has been mapped towards the southern end of the Sina Yar workings, similar in the intrusions mapped at both the Daramandougou and Wuo Ne mineral resource areas. Follow-up drilling is planned at Sina Yar, starting with stepping out to the north of CS23-RC077.

Far East The three northernmost holes at the Far East target appear to have snagged a significant zone of mineralisation albeit at so far lowish grade. Significant intersections included hole CS23-RC066 32-60 metres, 28 metres @ 0.56g/t. Although the intersections are low grade, historical drilling by High River Gold intersected a number of high grade intercepts nearby and grab samples by DFR in 2022 returned grades up to 9.3g/t in quartz veins being exploited by artisanal miners. The mineralisation appears to be open north of CS23-RC066 and the current orpaillage appears to extend at least 250 metres (and likely 450 metres) further north of CS23-RC066.

TT13 target The TT-13 target was tested by DFR with a first pass drilling programme of 9 holes in July 2022. A 1,800 metre strike length of intermittent mineralisation has been delineated from field mapping and drone surveys. The zone is characterised by near continuous artisanal workings at surface.

The 2022 drilling here delineated a 300 metre strike length with significant mineralisation in three holes for example CS22-RC029 27-36m, 9 metres @ 1.0g/t plus 56-66m, 10 metres @ 1.81g/t. The current campaign targeted the northerly and southerly extensions of the zone. Mineralisation is somewhat patchy but several holes intersected significant mineralisation which extends the zone. For example, hole CS23-RC098, collared 370 metres north of CS22-RC029, returned 8 metres @ 1.21g/t (30-38 metres) plus 4 metres @ 1.81g/t (63-67 metres).

TT-13 West target In the first pass drilling at the newly delineated TT-13 West target five easterly inclined holes targeted a vertical shear zone in a new orpaillage area 800 metres west of the TT13 target. The artisans are targeting an array of thin, reportedly high grade, quartz veins in metasediment but mineralisation intersected was patchy. Highest grade intersected in the drilling was CS23-RC086, 61-62 metres downhole, 1 metre @11.6g/t gold.

The broadest intercept was in CS23-RC088 63-78 metres, 15 metres @ 0.88g/t. Western Zone SW-Extension and Dara North targets Drilling at the Dara North and at the Southwestern Extension of the Western Zone was targeted primarily at combined resistivity/chargeability geophysics anomalies and at each target significant mineralisation was not intersected over mineable widths. At Dara North a pervasive linear zone of artisanal mining confirms the northerly extension of Western Zone mineralisation from the main Daramandougou artisanal area. However, the mineralised zone thus far appears to be quite thin and relatively patchy within the 750 metres of strike length tested.