Japan Gold Corp. announced additional results from work programs completed in the fourth quarter of 2022 over the Ryuo prospect within the Ikutahara Project, northern Hokkaido. Work programs included two drill holes completed in December, mapping of prospect extensions, and completion of an extensive soil geochemical survey covering 1,300 hectares over the prospect area and potential mineralized extensions.

The Ryuo prospect is one of several prospects being advanced within the Company's 100% owned Ikutahara Project,. Highlights Analytical results from the recently completed soil survey at Ryuo have identified three significant new gold and pathfinder element anomalies up to 1 km in length, which remain open ended, and may represent shallowly concealed mineralization below late-mineral cover. The completion of the soil grid was the next stage in expanding the prospect and developing a pipeline of new targets for advancement to drilling during 2023.

Gravity defined structures, CSAMT, geological mapping and drill core have provided a structural foundation supporting the new soil results and will further support advancement and drill targeting of the newly defined anomalies. Important insights gained from drilling completed at Ryuo to date include the identification of a high-grade gold event across the prospect and presence of wide high-grade mineralized vein structures. Forward plans for the Ryuo prospect: An important priority will be the review of structural data from drill core towards understanding potential off-sets of vein extensions caused by faulting.

Once the winter snow has melted, ground checking of the 3 new soil anomalies will be prioritised to support expansion of the soil grids to cover open-ended anomalous zones. The timing of additional drilling at Ryuo will be pending on outcomes of structural interpretations and ranking of results against other programs that will be running in parallel during 2023 on the Kitano-o district and Saroma prospects.