Gander Gold Corp. reported more high grade gold-in-soil results from one of the Company's eight 100%- owned gold projects in Newfoundland, the 323 sq. km Cape Ray II Project in the southwest part of the island where three large zones of interest have been delineated to date based on soil data and other work programs and studies.

Cape Ray II is contiguous to Matador's Cape Ray deposits and occupies deformation zones between two significant tectonic structures, the Long Range/Cabot Fault to the west and the Cape Ray/Valentine Fault to the east. The Cape Ray/Valentine fault hosts Marathon Gold's multi-million ounce deposit with initial production planned for 2025. Gander Gold cautions that mineralization on hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.

These early stage 2021-2022 results from the Cape Ray II Project, along with the emerging drill targets recently announced at the Gander North, Mount Peyton and BLT Projects, demonstrate the value-generating potential of top tier portfolio in Newfoundland at a time when gold is approaching all-time highs. The company's first two field seasons in Newfoundland and the Company's short history as a public company first listed on the CSE in March 2022. First-ever drilling in 2023 will deliver plenty of excitement for Gander shareholders.