Calgary, Alberta--(Newsfile Corp. - November 20, 2023) - Kestrel Gold Inc. (TSXV: KGC) ("Kestrel" or the "Corporation") is pleased to announce the appointment of Mr. Brian Abraham to the Corporation's Advisory Board. Mr. Abraham, formerly the global mining lead for an international law firm has acted extensively on both a domestic as well as an international level for a wide variety of clients ranging from individual prospectors to major mining companies as well as both Canadian and foreign governments on matters of legislation. Called to the British Columbia Bar in 1971 and with an active PGeo designation, Brian will bring a well-rounded wealth of mineral industry experience to Kestrel.

Rob Solinger, President and CEO of Kestrel, states: "The addition of Brian strengthens the team and adds significant industry experience in mining law, specifically mergers, acquisitions and joint venture or option agreements. As a PGeo he will also be able to provide advice from a mineral exploration perspective, with this combined industry related skill set a useful fit for Kestrel."

Kestrel also announces that it has granted to directors and an officer of the Corporation stock options to purchase in the aggregate 2,000,000 common shares and to consultants and advisors to the Corporation stock options to purchase in the aggregate 600,000 common shares. All options have an exercise price of $0.07 per share and will expire on November 15, 2028.

Results for the previously announced reverse circulation drill program at KSD have been received, compiled and interpreted. The 3-hole 207.3 metre program was designed to test areas of sheared, quartz veined, pyritic and altered bedrock located at and upstream of an area of the property where the gold recovered by the local placer miner is extremely rough, ragged and either attached to quartz or weathered pyrite cubes. Unfortunately drill results were disappointing with only scattered anomalous gold values returned.

Sample preparation was completed by Bureau Veritas Minerals at their Whitehorse, Yukon facility with analyses completed at their Vancouver, British Columbia facility. Rock sample preparation was by method PRP70-250 (Crush 1 kg to ≥70% passing 2mm - Pulverize 250 g ≥85% 75μm). All samples were analyzed using methods FA430 (30-gram fire assay and AAS finish) for gold. Bureau Veritas (Vancouver) is an independent, international ISO/IEC 17025:2005 accredited laboratory.

Qualified Person

Derek Torgerson P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.