Japan Gold, Barrick Mining end partnership

Mr. John Proust reports JAPAN GOLD ANNOUNCES THE CONCLUSION OF THE BARRICK ALLIANCE AND REPORTS EBINO DRILL RESULTS Barrick Mining Corp. and Japan Gold Corp. have mutually agreed to terminate the partnership agreement dated Feb. 23, 2020, as amended, in accordance with its terms, with such termination to be effective as of Oct. 31, 2025. The Barrick alliance was established in 2020 with the aim to jointly explore, develop and mine certain gold mineral properties and mining projects in Japan, which have the potential to host Tier 1 or Tier 2 gold deposits. Japan Gold received total financing of $23,155,932 ($17,375,498 (U.S.)) from Barrick for all work completed by the Barrick Alliance, primarily to create a comprehensive geochemical and geophysical database covering most of the company's 3,000-square-kilometre portfolio of mineral rights across Japan's three main islands. The database ultimately resulted in Barrick selecting three projects, which they felt held significant potential. Three initial scout drill programs totalling eight drill holes for 3,062 metres, including the recent Ebino project drilling, provided valuable geological insights, but the scale of work conducted to date has not been sufficient to fully evaluate the potential of these projects. As of the effective date, Barrick will no longer hold any right to or interest in any of Japan Gold's portfolio of mineral rights in Japan, including the Barrick alliance projects, Hakuryu, Togi and Ebino. "Barrick's involvement with Japan Gold over the last five years reflects the growing international interest in Japan as an emerging country with the potential for the discovery of new gold deposits, and we thank Barrick for their participation in this journey," said John Proust, chairman and chief executive officer of Japan Gold. "Japan's exceptional geology, rich history of high-grade gold mining, underexplored district-scale opportunities and stable mining regulatory environment continue to attract industry participants seeking a new, highly prospective geopolitically safe jurisdiction." He added: "Japan Gold remains well funded and committed to advancing its projects, and the geological prospectivity of Japan remains unchanged. With full operational control, our experienced management team is well positioned to prioritize our high-potential assets and implement a tailored exploration strategy." Barrick Mining's vice-president of exploration, Joe Holliday, said: "Japan Gold consistently demonstrated exceptional in-country expertise and operational excellence. We thank them for their dedication and professionalism throughout our alliance." Japan Gold will continue to advance two district-scale areas in Kyushu and Hokkaido, as well as several individual projects, including the former Barrick alliance projects, independently, or through new joint ventures or partnerships. The company is actively engaged in continuing discussions with parties expressing interest in Japan Gold's exploration opportunities. Ebino project drill results The company also announces the completion of its three-hole diamond drill program at the Barrick alliance Ebino project, located in the Hokusatsu district of southern Kyushu. This program confirms the extension of a regional alteration system in the 40-kilometre-by-20-kilometre Hokusatsu district, which hosts past and present major gold mines, including the only active large-scale gold producer in Japan, the Hishikari mine, as well as the historic Kushikino, Yamagano and Ohkuchi gold mines. Together, these mines have produced more than 12 million ounces of gold. Japan Gold holds the majority of all prospective mineral rights in the Hokusatsu district and surrounds the Sumitomo Metal Mining Co. Ltd. Hishikari mine area. The drilling program, totalling 1,528 metres, tested targets at the Otsuka and Kuwanoki-zuru (KZ) prospects for gold mineralization within a highly prospective and historically underexplored area. All three drill holes successfully intersected strong zones of hydrothermal clay alteration, including structurally controlled kaolinite and dickite zones, characteristic of a shallow environment in an epithermal system. While the drilling did not intersect significant gold mineralization, the results are encouraging, as broad zones of alteration were intersected and can be used to help vector into potential epithermal targets within the vicinity of Ebino. The next phase of exploration will comprise additional target generation work within the Masaki, KZ and Otsuka alteration zones. The Ebino drill program was financed by the Barrick alliance. Drill sites were fully rehabilitated to their original condition, with work completed in alignment with environmental best practices. Qualified person The technical information in this news release has been reviewed and approved by Japan Gold's vice-president of exploration, Jason Letto, BSc, PGeo, who is a qualified person as defined by National Instrument 43-101. About Japan Gold Corp. Japan Gold is a Canadian mineral company focused on the exploration and discovery of high-grade epithermal gold deposits across the main islands of Japan. The company holds a significant portfolio of tenements covering areas with known gold occurrences, history of mining and prospective for high-grade epithermal gold mineralization in one of the most stable and under explored countries in the world. The Japan Gold leadership and operational team of geologists, drillers and technical advisors have extensive experience exploring and operating in Japan and have a record of discoveries worldwide. Significant shareholders include Equinox Partners Investment Management LLC and Newmont Corp. We seek Safe Harbor.