Ophir Gold Corp. announced that it has commenced its inaugural exploration campaign on the Radis Lithium Property, located in the Eeyou Istchee James Bay, Quebec. The Property is located approximately 70 km east-northeast of Wemindji and proximal to the all-season Billy-Diamond Highway and hydro-power line infrastructure in the region.

The 2023 surface exploration program includes prospecting, rock sampling, and geological mapping, as well as a Property-wide LiDAR and orthphoto survey and interpretation. Results will be used to prioritize drill targets for the inaugural drill program expected summer 2023. Objectives of the surface program are to evaluate the historically documented references to a lithium pegmatite and potential spodumene- bearing pegmatite (collectively, the showings) on the Property identified following a recent data compilation completed by the Company.

The two showings are mapped approximately 800 m apart along strike within the same greenstone belt and have never been evaluated for their lithium potential. The Company will prospect and map these showings in detail, as well as areas along trend and proximal to identify further occurrences of potentially lithium-bearing pegmatite. The field crews will also prospect and further map the historically documented pegmatite dykes with tourmaline (a common lithium pegmatite pathfinder mineral) situated proximal to a series of anomalous lithium in soil samples, and located approximately 2.5 km southwest of the potential spodumene-bearing zone (Figure 1).

Additionally, regional prospecting will be completed targeting areas within the Yasinski Greenstone Belt on the Property considered the most prospective to host lithium pegmatite. In addition to the prospecting, rock sampling, and geological mapping program, the Company also intends to complete a LiDAR and orthophoto survey over the entire Property. The acquired data, coupled with results from initial geological mapping and rock sampling over the Property, will be used to guide the next stage of exploration including additional surface exploration and drill hole planning.

The historically documented pegmatite/lithium occurrences on the Radis Property are on geological strike of the roughly 8-10 km discontinuous pegmatite outcrop trend present on the adjacent Mia Property, which is host to the Mia Li-1 (2.65% Li2O), Mia Li-2 (2.27% Li2O), and Carte 1879 (1.65% Li2O) lithium occurrences. The 2023 exploration program represents the first targeted lithium exploration at the Radis Property, which is considered to have a strong lithium pegmatite exploration potential based on the local geological setting, the presence of pegmatites that have never been sampled for lithium, and the documented lithium occurrences on the Property that are immediately on strike with the adjacent Mia and Carte 1879 lithium showings. Management cautions that past results or discoveries on adjacent properties (i.e. Mia) are sourced from publicly available information, have not been idenpendently verified by the Company and may not necessarily be indicative to the presence of mineralization on the Company's properties (i.e. Radis).