St. James Gold Corp. announced that it has received access to diamond drill core, drill logs and assay data from previous drill campaigns at the Florin Project located 60 km northwest of Mayo, Yukon Territory, Canada which is host to the Florin Inferred Gold Resource of 2,474,000 oz gold contained in 170,993,000 tonnes grading 0.45 g/t with a cut-off of 0.30g/t1 (the "Florin Inferred Resource").

St. James has received access to the laboratory assay certificates and the drill core pertaining to several core holes drilled in 2003-2004. Details are anticipated for additional drill holes, with results to be released when verified.

At that time the average price of gold ranged between USD 364 - USD 410 per ounce Au and only multi-gram gold drill intercepts were considered to be of economic interest. Verification of the data obtained will be carried out, with results to be released following verification. Both prior to and during 2021, the Treadwell area was the target of soil sampling programs by St James that show a one kilometre by two-kilometre gold in soil anomaly.

The historic holes fall within the Treadwell North area which is located 400 metres from the edge of the Florin Inferred Resource Whittle pit-shell. During the 2021 season, diamond coring hole DDH 21-068 targeted the periphery of the Treadwell North and returned mineralization down the length of the hole. In the same general area, the Treadwell Adits returned multi-gram gold 15.8 g/t Au, 11.15 g/t Au and 14.85 g/t Au values from grab samples taken during 2021.

St James announced it has completed two drill holes. The first hole was drilled to depth of 419 meters and the other drill hole was drilling to a depth of 432 meters. The assay results will be announced when available.

St. James also announced that it has suspended drilling on the Florin Gold Project due to current market conditions. St.

James is currently in default of its obligations under the option agreement, as amended (the "Option Agreement") with Florin Resources Inc. ("Florin"). St. James is currently trying to renegotiate certain of the terms of the Option Agreement with Florin; however, there is no assurance that the Option Agreement will be satisfactorily renegotiated with Florin, or renegotiated before the end of the cure period.

As a result, St. James may need to obtain additional financing in order to satisfy its obligations under the Option Agreement and to meet its firm cash commitments thereunder.