Contact Gold Corp. recap the results from the 2022 step-out drill program at the Green Springs oxide gold project, located on Nevada's Cortez Trend of Carlin-type gold deposits; 20 km southeast of the Pan Mine operated by Calibre Mining and 7 km immediately east of their Gold Rock Project. Gold mineralization at Green Springs is hosted within the same Chainman Shale and Pilot Shale units hosting Gold Rock and Pan.

Drilling at Green Springs wrapped up in late June with 23 holes completed for 2,123 metres, and was dedicated to growing the high-grade Tango, X-Ray, and B-C Gap oxide gold discoveries made by Contact Gold in 2021. The Company believes that ongoing surface exploration at Green Springs will be successful in identifying additional prospective areas and developing further compelling drill targets, especially in the underexplored Pilot Shale, the host horizon to the Tango, X-Ray, and BC Gap discoveries. In addition to the recent discoveries, Green Springs contains the Mine Trend, a 3 km long zone of shallow oxidized gold mineralization hosted within the Chainman Shale, highlighted by the high-grade Echo Zone, which remains wide-open for expansion to the south, with permits expected to be in hand in early 2023 to do just that.

X-Ray Zone, Average depth of completed drill holes at X-Ray was 86.8 metres, Five holes were drilled at the outcropping X-Ray Zone, offsetting and stepping out from the high-grade oxide discovery made in the 2021 program, he X-Ray target area is open for expansion to the south and west, and the north to some degree, Gold mineralization at X-Ray is hosted at the lower Pilot Shale contact with the underlying Guilmette limestone. X-Ray is near-surface, well oxidized, with exceptional grades and thicknesses. Drill highlights: 1.66 g/t Au over 28.96 metres, from a depth of 9.14 metres, in drill hole GS22-01 Including: 2.66 g/t Au over 15.24 metres, 0.82 g/t Au over 35.05 metres, from a depth of 9.14 metres, in drill hole GS22-02 Including: 1.32 g/t Au over 16.76 metres, 1.95 g/t Au over 41.15 metres, from a depth of 15.24 metres, in drill hole GS22-04 Including: 3.71 g/t Au over 15.24 metres.

Tango Zone: Average depth of completed drill holes at Tango in 2022 is 74 metres, Tango is located in the northern portion of the project, one km NE of the high-grade X-Ray Zone, Tango is characterized by a partially exposed zone of oxidized gold mineralization that dips beneath the barren Joana limestone in a westerly direction, and currently measures 250 x 500 metres. There are significant expanses of untested Pilot Shale to the west of the current drill pattern. Drill highlights: 0.51 g/t Au over 30.48 metres, from a depth of 4.57 metres, in drill hole GS22-09 Including: 1.02 g/t Au over 3.05 metres; 0.70 g/t Au over 16.76 metres, from a depth of 3.05 metres, in drill hole GS22-08; 0.45 g/t Au over 24.38 metres, from a depth of 19.81 metres, in drill hole GS22-11.