Province of Manitoba First Disbursement of $100,000 Grant Received

12 Mitchell Road

Flin Flon, Manitoba R8A 1N1

Tel: 204-687-3500

Email: [email protected]

Website: BorealGold.ca

BGLD (CSE)

BOREAL GOLD INC. RECEIVES THE FIRST 100K GRANT DISBURSEMENT FROM MMDF AND THE

FAY LAKE WORK PERMITS

Flin Flon, Manitoba, June 26, 2025 –Boreal Gold Inc (CSE:BGLD) (“ Boreal” or the “ Company”)

announces that it has received the first 100K grant disbursement from the Manitoba Mineral

Development Fund for the Fay Lake Property in Manitoba. Boreal’s project represents important

value to both Manitoba’s mineral sector and its emerging critical mineral sector, further

contributing to the development of resources that are crucial to the province’s economic future

and the global transition to clean energy.

Boreal is grateful for MMDF’s generous grant and continued support for this project, which has

been ongoing since 2023. We are pleased that the Manitoba government shares our vision to

create short-term and potentially long-term jobs in the Flin Flon area in the north where they are

greatly needed while also strengthening the provincial economy. The MMDF was launched by

the Manitoba government in 2020 with the specific goal of jump- starting mineral and economic

development initiatives throughout the provinc e. The MMDF aims to support new economic

development opportunities that capitalize on existing assets across Manitoba.

Boreal Gold Inc is pleased to announce that as of the time of this news release that Boreal Gold’s

office is safe from the regional fire that surrounded Flin Flon, Manitoba and Creighton,

Saskatchewan despite flames from the fire at one point being across the bay from the office. The

firefighters were successful at putti ng the fire out near the office and are currently working on

putting the hot spots out southwest from the office. Boreal would like to assure shareholders

that all office, financial and exploration data is preserved and not affected by the fire. The core

yard is also intact and untouched by the fire. Boreal would also like to take the opportunity to

thank all first responders, firefighters, RCMP and critical support staff that stayed behind during

this unprecedented difficult and stressful time to ensure no structures were lost in Flin Flon,

Manitoba and Creighton, Saskatchewan.

FAY LAKE

Boreal Gold intends to perform ground geophysical surveys over the western portion of the Fay

Lake grid (not previously covered) as well as the eastern portion of the Fay Lake grid that will be

cut and surveyed to follow the strike extension of the Sunrise conductor to the eastern shore of

Fay Lake. Drill testing of designed targets will follow up confirmation of Airborne conductors by

ground geophysics on the Fay Lake property subject to a successful financing and direct

consultation with Kiciwapa Cree Nation. Also planned is detailed mapping, prospecting, sampling

and line cutting on the Fay Lake Property on a small portion of Redwin VMS horizon that remains

unmapped but contains conductors.

Separate to the VMS exploration at Fay Lake above, gold exploration through mapping and

prospecting of the western portion of the Puffy Lake Mine style gold mineralization trend east of

the Railroad. Approximately 10 -line kilometers is planned on this tren d where samples assayed

up to 14.33 g/t Au, to evaluate its on strike continuity. The gold potential at Koscielny Lake

located at the eastern end of the property south of the Puffy Lake Gold Mine will also be assessed.

Here mineralization contained values of up to 11.81 g/t Au (0.38 oz/ton Au) over 1 m. (Pearson,

J. September 04, 2024 NI 43-101 Fay Lake Technical Report)

Qualified Person

Stephen L. Masson, M.Sc., P .Geo. is the “Qualified Person” as defined by NI 43-101 Standards of

Disclosure for Mineral Projects ("NI 43-101") for these properties, has reviewed and approved

the technical disclosure contained in this news release. Mr. Masson acts as a consulting

Geologist for the Company.

About Boreal Gold Inc

Boreal Gold Inc is a Canadian junior mineral exploration company with a specific focus on

mineral properties in northwest Manitoba and northeast Saskatchewan, Canada. All of the

Issuer’s properties are currently at the exploration stage. The Issuer has assembled a portfolio of

base metal and precious metal prospects in strategic locations in the Provinces of Manitoba and

Saskatchewan.

Boreal Gold Inc

“signed”

Richard Masson

President & CEO

No stock exchange or securities regulatory authority has reviewed or accepted responsibility for

the adequacy or accuracy of this release. Some of the statements contained in this release are

forward-looking statements, such as estimates and statements that describe the Issuer's future

plans, objectives or goals, including words to the effect that the Issuer or management expects

a stated condition or result to occur. Since forward-looking statements address future events

and conditions, by their very nature, they involve inherent risks and uncertainties.