Kestrel Gold Inc. provided an update on work completed at the Corporation's QCM Project. Analytical results for the 2nd phase prospecting program have been received and have helped identify 7 new high priority gold-bearing showings distinct from the historical showin gs on the Project. Results of the airborne geophysical survey completed in late August of 2021 have helped refine the existing geological framework.

Targets highlighted by the geophysical survey and 2nd phase prospecting results, along with the historical Fairview Showing, were acquired by staking. A total of 7 new mineralized showings were located, highlighted by soil samples with up to 1,570 ppb Au and rock chip samples with up to 4.39 g/t Au over 2.4 metres and 1.17 g/t Au over 9.0 metres. Based on geological and alteration styles, highlights include a possible 650 metre northwest extension to the QCM Zone as well as the possibility for a 3.0 kilometre northwest extension to the Flagstaff Trend.

Data from the airborne geophysical survey in conjunction with existing geological mapping has helped further refine the geological picture. The QCM Zone is interpreted to be a northwest trending zone of quartz carbonate altered and pyritic volcaniclastics while the Flagstaff Trend is a parallel zone of iron carbonate altered and pyritic sediments; with both units belonging to the Takla Group. A total of 874.9 hectares were acquired via staking, increasing the property size to approximately 5,975 hectares or 59.75 square kilometres.

The Fairview showing was acquired by staking. Historical sampling results by Chevron Minerals Ltd. include a chip sample of a quartz vein grading 11.9 g/t Au over 1.0 metre and a chip sample of ankeritic breccia grading 4.18 g/t Au over 2.0 metres. Reported mineralization includes pyrite, chalcopyrite and occasional visible gold.