Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Japan Gold Corp. (TSXV: JG) (OTCQB: JGLDF) ("Japan Gold" or the "Company") is pleased to announce the advancement of the Mizobe, Ebino, Togi and Hakuryu projects in Japan currently under the Barrick Alliance Second Evaluation Phase. The four projects have been prioritised and are being advanced to being tested through drilling. The two remaining projects that will not proceed under the Barrick Alliance will be included in Japan Gold's portfolio of assets and the Company will continue to advance these two projects independently.

Mr. John Proust, Chairman and CEO of Japan Gold stated, "Barrick's selection of four projects to advance, accelerates the discovery process in Japan. The Barrick Alliance has identified targets with significant potential, to invest its resources and move ahead with a targeted strategy."

Barrick Alliance Projects

The Mizobe and Ebino Projects are located within the Hokusatsu Region of the Southern Kyushu Epithermal Gold Province, Japan's largest gold producing region with a recorded production of over 12 million ounces, including the world-class Hishikari deposit, which has produced approximately 8.5 million ounces with an average grade exceeding 30 g/t (post 1985).

Mizobe Project
At the Mizobe Project, exploration completed to date (including 7 drillholes for 2,416.2 m) has defined an extensive and largely concealed, multi-phase hydrothermal system, with current dimensions of approximately 2.5km by 1.5km, with evidence of multiple alteration and mineralization events.

Ebino Project
The Ebino Project is centred on a series of hydrothermal alteration zones located approximately 10km north of the Hishikari deposit. Target generation work is presently underway comprising geological mapping, soil sampling and ground magnetics across multiple alteration zones to rapidly advance drill targeting.

Hakuryu Project
The Hakuryu Project is located at the southern end of the 18km long Konomai epithermal gold district. Japan's third largest past producing gold mine, the Konomai Mine, produced 2.35 million ounces of gold at an average grade of 6.4 g/t, between 1915 and 1973. Within the Hakuryu Project, area mapping has identified an underexplored area of epithermal quartz veins. Planned work programs include a magnetic survey, and four drill holes later in 2024, pending permits.

Togi Project
The Togi Project is located in the central west part of Honshu Island on the Noto Peninsula, centred on the historic Togi goldfield. A similarly oriented graben-gravity feature and Miocene host rocks are noted 160km along strike to the northeast on Sado Island, which hosted Japan's second largest gold mine, the Sado Mine, which produced 2.5 million ounces of gold until its closure in 1974. CSAMT geophysical survey and detailed mapping has identified a series of epithermal drill targets which will be advanced in Q3, 2024.