Phoenix Gold Resources Corp. provided the assay results from nine diamond drill holes that were completed as part of the Company's successful first phase of drilling on the York Harbour Copper-Zinc-Silver Project situated 27 kilometres west of Corner Brook, Newfoundland. YH21-04 with 34 m of 0.91% copper, 79.74 g/t cobalt, 0.66% zinc, and 0.03 g/t silver (Including 0.6 m of 8.68% copper, 424.0 g/t cobalt, 3.90% zinc, and 0.01 g/t silver) YH21-06 with 52.2 m of 0.85% copper, 91.8 g/t cobalt, 0.53% zinc and 1.75 g/t silver (Including 2.60 m of 6.31% copper, 450.65 g/t cobalt, 4.67% zinc, and 0.01 g/t silver) YH21-08 with 6.6 m of 0.62% copper, 212.85 g/t cobalt, 0.65% zinc and 0.11 g/t silver YH21-09 with 11.6 m of 1.41% copper, 202.94 g/t cobalt, 0.10% zinc and 2.41 g/t silver The additional laboratory assay results from the Phase 1 confirmation drilling program further validate the historical drilling results with 9 of the 9 drill holes intersecting disseminated and massive sulphide mineralization in 296 samples, totalling 207.7 m of sampled core.

The results presented below expand upon previously released results from selected sample submissions announced on October 12, 2021. The assay results suggest further mineralization potential extending beyond the historical `A', `G' and `H' zones which were the focus of the Phase 1 program. The results also highlight potential for broader zones of mineralization extending beyond the previously known extents of mineralization identified in the historical records that are available.

The results furthermore confirm the expected style of Volcanic Massive Sulphide - Cypress Type mineralization with previously undefined polymetallic mineralization types identified across zones of varying thickness and grade often at above average grade. Higher grades from the 2021 Phase 1 drill program combined with often broad mineralized intersections, up to 52.5 m demonstrate excellent potential for bulk grade continuity both along strike and down dip extending beyond the known extent of mineralization identified historically at the `A', `G' and `H' zones at the York Harbour project.