BRASCAN ANNOUNCES CLOSING OF SECOND TRANCHE NON-BROKERED PRIVATE PLACEMENT OF UNITS AND CORPORATE UPDATE

Brascan Gold Inc. has completed the second tranche of its non-brokered private placement previously announced on Oct. 13, 2021, of 1,497,767 units at a price of 30 cents per unit for gross proceeds of $449,330. Each Unit consists of one (1) share (each, a 'Share') and one-half-of-one (1/2) transferable Share purchase warrant (each, a 'Warrant'). Each Warrant entitles the holder thereof to purchase one (1) additional Share of the Company for a period of two (2) years from closing at a price of $0.40 per Share, expiring January 12, 2024.

The Company intends to use the proceeds from the Private Placement towards exploration at the Company's Black Cat and Middle Arm properties located in the mine-friendly region of Baie Verte, Newfoundland. The province of Newfoundland and Labrador is ranked among the top 10 mining jurisdictions worldwide by the Fraser Institute.

The Baie Verte district in northwestern Newfoundland boasts excellent infrastructure, including a deep water port facility in Pine Cove, a local assay laboratory, local mining and drilling contractors, high transmission lines, easy access to supplies, a regional airport and local hospitals, schools and hotels.

No finders' fees were paid in respect the Second Tranche. Pursuant to applicable securities laws, all securities issued under the Second Tranche Private Placement are subject to a statutory hold period of four months and a day expiring on May 13, 2022.

Change of Officers

Further, the Company announces that Mr. Balbir Johal has been appointed as President and Chief Executive Officer, replacing Mr. Eric Warren effective immediately. Mr. Warren will remain a member of the board of directors of the Company.

Mr. Johal currently serves as a member of the board of directors of the Company and is former securities lawyer with over 20 years' experience in the global capital markets. He has extensive experience in working with natural resources and exploration companies. Mr. Johal has served as a senior officer and director of several public companies and is presently CEO of his own merchant bank Midori Capital Inc.

About Brascan Gold Inc.

The Company is a gold exploration issuer based in Vancouver, BC. The Company holds an option over the Vulcan Property, located in the Fort Steele Mining Division in southeastern BC and the Middle Arm Fault and Black Cat properties, located 30 km and 40 km south, respectively, of the town of Baie Verte, Newfoundland.

Contact:

BRASCAN GOLD INC.

Suite 1000-409 Granville Street

Vancouver, British Columbia

V6C 1T2 Canada

E: [e-mail]

Phone: [phone]

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