Solstice Gold Corp. announced completion of the 2023 winter diamond drilling program on 100% owned, royalty-free Red Lake Extension (“RLX”) project, located in the northwestern corner of the Red Lake Gold Camp. A total of 4,034 m was drilled during the winter of 2023 in 12 drill holes.

Drilling Summary: Solstice completed 9,364m of diamond drilling in 23 drill holes as part of the Summer 2022 and Winter 2023 drilling programs which tested a 12 km corridor of RLX. This total includes two lost drill holes which were abandoned prior to reaching their targets. Two target areas, including one with previously documented gold, were inaccessible due to unsatisfactory ice conditions.

Anomalous gold is present in 8 out of 23 drill holes over a tested strike length of 12 km. The best results are 1.96 g/t Au over 1.50 m (RLXDH22-07) at a down-hole depth of 331 m, 0.82 g/t over 1.05m (RLXDH22-02) at 317.6 m, and 0.33 g/t Au over 1.55 m (RLXDH23-12) at 99.45 m. Drill results further confirm that the RLX property is underlain by the northern extension of volcanic rocks of the Red Lake Greenstone Belt as documented at the Sidace gold deposit located approximately 12.5 km to the southwest (Evolution Mining 53.3% /Pacton Gold 46.7%). In addition to the gold identified by Solstice's drill programs, previous drilling in 1980 by Dome Exploration* reported elevated gold in intrusive rocks in two shallow holes drilled on Nungesser Lake.

One drill hole (B6) reported 0.62 g/t gold over 1.5 m at 57.3 m down hole, plus a separate interval of 0.62 g/t over 1.5 m at 62.0 m. This location was inaccessible in 2023 drilling due to ice conditions. A second drill hole (B7) located approximately 1.8 km further east, reported 0.62 g/t gold over 1.3 m at 59 m. Dome reported a total of 12 AQ (18mm diameter) drill holes in the area for a total of 1198.3 m. Gold assays are reported for only 7% of the Dome drill core but trace values are widespread. Values reported in this news release were converted from imperial measurements of dwt (1.55 dwt = 1 g/t) in the original logs.

The intercept of 0.33 g/t Au over 1.5 m from RLXDH23-12 (Table 1) is 50 m down dip of the historical gold-bearing intercept in Dome hole 122-B7, verifying the presence of gold in that area and, in Solstice's view, confirming the validity of the historical data. Bedrock cores retrieved on the property have low fracture density and consist of competent rocks with consistent 100% recovery rates. Small intersections of fault gouge and minor incidences of short sections of missing core do not impact results.

All ½ drill core samples were collected in a secure location, and shipped to Activation Laboratories Ltd. in Thunder Bay, Ontario. A series of industry standard internal quality control and assurance programs were followed, which included security tags on all shipments and the insertion of certified reference materials, duplicates (¼ core) and blank samples in regular intervals. Samples were processed at the lab for gold analysis by a 50-gram fire assay with finish by atomic absorption and for multi-element ICP using a 4-acid digestion (package 1F2 – Near Total Digestion – ICP) which includes lithium.

All results in this news release passed internal QA/QC protocols. Actlabs is independent of Solstice. Inspection of ICP analytical results of all samples shows an apparent enrichment in lithium in both intrusive and altered host units compared to typical crustal abundance of 20 ppm Despite sparse sampling, a total of 45 intrusive samples contain greater than 45 ppm Li.

All logged intrusive units contain elevated samples of Li >45 ppm with the highest values in biotite altered Ultramafics (26 samples, mean = 46 ppm Li, maximum value= 105 ppm Li), Tonalite (207 samples, mean = 24 ppm Li, maximum value = 82 ppm Li) and Intermediate Intrusives (53 samples, mean = 31.5 ppm Li, maximum value = 88 ppm Li). In sampled supracrustal (i.e. non-intrusive) rocks, 18% of samples (386) contain in excess of 45 ppm Li, with a maximum value of 145 ppm Li. Lithium is elevated in altered supracrustal rocks whose original protolith is sometimes difficult to ascertain.

These rocks contain appreciable amounts of mica including a red variety which has been identified via QEMSCAN at Saskatchewan Research Council as muscovite. Apparently elevated Lithium at RLX is observed in all rock types including some (e.g. ultramafics) which typically contain low amounts of Li2. RLX sits within, or adjacent to, a major extensional crustal feature (“E1-E2”) inferred from seismic data, which extends northwards from Red Lake for at least 100 km.

Recently, at the north end of this structure GoldOn Resources in a news release April 24, 2023, described elevated lithium in country rocks associated with a peraluminous granite on their property. It is possible that the E1-E2 structure is associated with regional lithium alteration which could be related to potentially as-yet undiscovered plutons and pegmatites. Solstice plans to evaluate the content of other rare metals through re-analysis of a subset of selected samples prior to considering potential additional sampling of drill core.

It should be noted that results reported by GoldOn Resources are not necessarily indicative of similar mineralization or potential at RLX.