Manitou Gold Inc. commencement of drilling of key targets on the Baltimore deformation zone (“BDZ”) grid as well as additional assay results from drill holes at the recently discovered Bald Eagle gold zone (“BEGZ”) at its 100% owned Goudreau project in northeastern Ontario. Highlights: The Company has been issued a water crossing permit, which allows new access to its key target area in the BDZ. Bridge construction is nearly complete, the drill rig is on site, and the company is expecting to begin drilling next week.

Significant gold mineralization was intersected at the BEGZ in hole MTU-21-59, which returned 3.4 g/t Au over 2.5 m within a wider interval of 27.9 m at 0.6 g/t Au, approximately 250 m down plunge of hole MTU-21-39 which returned 9.0 m at 1.4 g/t, including 2.8 g/t Au over 1.5 m within a wider interval of 22.8 m at 0.9 g/t Au. The target area covers a six-kilometre segment of BDZ, extending east-northeast from the Meath Lake fault zone, where it is intersected by a low angle east-southeast striking splay. This structural intersection is the key target for orogenic-style gold mineralization and recent drilling success at the Stover zone, some 10 kilometres to the east-southeast, with wide drill intersections of 49.1 m @ 0.6 g/t Au incl.

3.3 m @ 3.5 g/t Au, highlights its mineralization potential. Bridge construction is nearly complete, and the drill rig has been moved into the target area. The Company is expecting to begin drilling next week.Gold mineralization at the BEGZ was initially identified during a surface program in late Summer of 2021, which returned up to 74.7 g/t Au from outcrops of highly strained and altered quartz-sericite schist proximal to a major structural intersection in the northeastern portion of the Goudreau project area.

The surface program was followed up with a 33 line-kilometre induced polarization (“IP”) survey, which resulted in 1,804 m of drilling in six holes in the fall of 2021. The most significant results returned 3.3 g/t Au over 3.0 m, including 5.2 g/t Au over 1.5 m within wider gold mineralized interval of 20.6 m at 0.8 g/t Au in hole MTU-21-41 as well as 19.7 g/t Au over 1.0 m, 7.1 g/t Au over 1.0 m and 6.3 g/t Au over 1.0 m, all in hole MTU-21-44. An additional 11 holes totaling 1,863 m were completed in the winter of 2021 to test the strike and down-plunge extensions of mineralization encountered in the fall of 2021.

The most significant intersections are from holes MTU-21-56, which intersected the BEGZ approximately 50 m down-plunge of hole MTU-21-39 and returned 90.5 m at 0.3 g/t Au, including 3.0 g/t over 0.9 m, and hole MTU-21-59, which tested the BEGZ 250 m down-plunge of MTU-21-39 and intersected three broad zones of gold mineralization, between 299 m and 419 m down hole, with the best intersection returning 3.4 g/t Au over 2.5 m within a wider interval of 27.9 m at 0.6 g/t Au.