Jupiter Gold Corporation announced that the necessary operational licensing has been obtained with respected to the Company's 100%-owned quartzite project in the state of Minas Gerais. The Project is now fully licensed for commercial mining and operations are planned to start in early 2023. Jupiter Gold's geology team discovered the quartzite deposit in the third quarter of 2020 during detailed field reconnaissance in one of the Company's mineral rights.

In the first quarter of 2021, a drilling campaign was undertaken which confirmed the presence of high-quality quartzite in the samples collected. Preliminary calculations indicated a potential of 3.9 million tons of quartzite mineralization. Photos of quartzite cores from the Project are attached to this release.

During the second and third quarters of 2021, specialized consultants hired by Jupiter Gold performed all necessary environmental studies in the Project area for the application to obtain the quarry's operational licensing, which has now been obtained. Jupiter Gold has hired a mining engineer with extensive experience in quartzite mining and in the commercialization of such production. The revenue potential ranges between $1,800 to $2,000 per cubic meter of quartzite production sold.