COMPASS CONFIRMS STRIKE POTENTIAL AND DEPTH EXTENSION OF GOLD MINERALIZATION AT MASSALA WEST Results Pending from Two Additional Prospects on the Tarabala Trend

COMPASS CONFIRMS STRIKE POTENTIAL AND DEPTH EXTENSION

OF GOLD MINERALIZATION AT MASSALA WEST

Results Pending from Two Additional Prospects on the Tarabala Trend

Toronto, Ontario, September 7, 2021 – Compass Gold Corp. (TSX- V: CVB) (Compass or the

Company) reports the results of the latest drilling at the Massala West prospect on the Tarabala

Trend and provides an update of planned drilled on the Company’s Sikasso Property in Southern

Mali (Figure 2).

Highlights

● Latest AC drilling at Massala West confirms gold mineralization over 3 km along the

Tarabala Trend (“Tarabala”)

o Highest-grade drill interval: 1 m @ 12.94 g/t Au (from 25 m; SAAC221)

o Widest mineralized zone: 9 m @ 1.01 g/t Au (from 22 m; SAAC256)

● Initial deeper RC drilling on the Central Zone at Massala West indicates the mineralization

continues to depth

o Highest-grade drill interval: 3 m @ 1.56 g/t Au (from 46 m; SAAC221)

o Widest mineralized zone: 5 m @ 0.59 g/t Au (from 45 m; SARC008)

● Preparing to initiate approximately 4,000 m of deeper RC drilling (>100 m) at the Massala

West and Tarabala prospects (Figure 1) when the rains stop in late October

● 1,400 m of air core (AC) drilling is also planned at the new Tarabala South target

● Drilling results are pending from the Southern and Extension zones at Massala West, and

the newly identified Dalaba prospect.

Compass CEO, Larry Phillips, said, “Our latest drilling on the Tarabala Trend has uncovered

shallow gold mineralization with promising grades over 3 km at Massala West. The higher-grade

and wide mineralization revealed during preliminary RC drilling on the Central Zone indicates the

mineralization may be enhanced at depth , so we’re preparing to conduct additional deeper

drilling to test the full depth potential of the gold-bearing veins. We are also awaiting the assay

results of previous drilling that could extend the mineralization northwards by 500 m, as well as

for the results from drilling a fault 750 m west at Dalaba that is coincident with anomalous soil

geochemistry.”

He added, “As we continue towards our goal of discovering a gold deposit with the commercial

size and grade potential to become a mine, these latest near surface results are very encouraging.

With these in hand, our Malian exploration team will be ready to begin preparing the drilling pads

for our next phase of drilling at the Massala West and Tarabala prospects as soon as ground

conditions improve in October. An additional 1,400 m program of shallow AC drilling is also

planned over the Tarabala South prospect, located 500 m south of our Tarabala prospect.”

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Massala West Drilling Results

Previously reported drilling results from Massala West (see Compass news releases dated March

16, and May 18, 2021) indicated a 1.8 km zone of shallow mineralization associated with the

north-south trending Tarabala fault. The initial drilling was on 200 m fence spacings and the

results were reassuring: 24 m @ 2.35 g/t Au (SAAC123); and 21 m @ 0.86 g/t Au (from 1 m;

SAAC189) including 6 m @ 1.67 g/t Au.

The current drilling program comprised 68 AC holes (4,042 m) that were designed to infill the

known mineralization, extending the structure 1.4 km to the north, and to test a splay fault 750 m

to the west at Dalaba ( Figure 1). The assay results from 2 3-holes (1,349 m) at Dalaba and the

northern extension are pending. Highlights of the latest drilling were 9 m @ 1.01 g/t Au (from

22 m), 8 m @ 0.71 g/t Au (from 38 m) including 1 m @ 3.16 g/t Au, and 1 m @ 12.94 g/t Au (from

25 m). All fences intercepted the target structure and contained varying degrees of gold

mineralization at shallow levels (Table 1).

Figure 1: Drilling locations and significant intercepts from recent drilling (red text) and earlier drilling

(white text).

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A 10-hole (1,056 m) RC program was also planned to drill a series of deep holes (100 – 160 m) to

test the gold -bearing structure at depth. Owing to the higher -than-expected water table, the

holes were only drilled to shallow depths (77 – 125 m) and so may not have tested the primary

mineralization. Assay results have only been received for five holes (SARC006-SAARC10) from the

Central Zone. The widest interval was a low -grade zone of 26 m @0.32 g/t Au (from 24 m;

SARC008) containing six discrete higher-grade zones, with the best interval being 5 m @ 0.59 g/t.

Drill hole SARC010 was drilled two hundred metres to the south and intercepted 23 m @ 0.44 g/t

Au (from 43 m) , and comprised three discrete mineralized intervals , with the best interval

containing 6 m @ 1.02 g/t Au (from 46 m). Both intercepts are still considered shallow and have

not adequately tested the depth potential of the structure.

Table 1. Mineralized intervals greater than 3 m or greater than 0.5 g/t Au identified during recent

drilling at Massala West.

Hole ID From (m) To (m)

1, 2 Interval

(m) Au (g/t)

SAAC219 16 7 1 0.61

SAAC221 25 26 1 12.94

SAAC225 11 12 1 0.61

SAAC226 8 9 1 0.87

SAAC226 18 20 2 1.11

SAAC232 49 50 1 0.77

SAAC234 27 30 3 1.33

SAAC235 15 18 3 1.11

SAAC236 47 51 4 0.41

SAAC240 38 45 8 0.71

inc. 39 40 1 3.16

SAAC241 4 5 1 1.39

SAAC243 15 16 1 0.61

SAAC246 15 16 1 3.68

SAAC250 24 31 7 0.32

SAAC252 35 39 4 0.56

SAAC252 42 43 1 0.50

SAAC254 22 31 9 1.01

SARC005 56 57 1 0.54

SARC005 84 97 13 0.79

inc. 94 96 2 2.88

SARC006 79 80 1 0.64

SARC007 54 55 1 1.86

SARC007 71 77 6 0.27

SARC007 98 99 1 0.60

SARC008 24 27 3 0.69

inc 26 27 1 1.48

SARC008 35 36 1 0.58

SARC008 45 50 5 0.59

1True thicknesses are interpreted as 60-90% of stated intervals.

2 Intervals use a 0.2-gram-per-tonne gold cut-off value

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Next Steps

The encouraging results achieved from this last phase of work strongly support the need for

deeper drilling at Massala West. Over the 3.5-km strike length gold grades and intercepts widths

are variable, which is consistent with the style of mineralization Compass are in vestigating. A

similar variation will also be present at depth, so it is important that drilling into fresh bedrock at

depths greater than 50 m takes place, in zones where wider intercepts or higher gold grades have

been identified. The central zone (Figure 1) contains wide, near surface intercepts and is ,

therefore, a priority for RC drilling.

If the pending assay results for the southern zone and the northern extension are also positive,

then Compass has earmarked approximately 2,000 m of deeper RC on this 3 km portion of the

Tarabala Trend.

A total of 3,000 m of RC and diamond drilling will take place over a distance of 1 km at the Tarabala

prospect, where drilling in February 2021 recorded wide intercepts of gold mineralization, e.g.,

25 m @ 0.58 g/t Au (from 67 m). Drilling pad preparation is underway and will be completed in

time for the anticipated start of drilling after the rainy season.

An initial program of AC drilling (1,400 m) is also planned at the new Tarabala South target. Drilling

is scheduled to take place here in December.

Figure 2: Property map showing the location of prospects mentioned in this release .

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Technical Details

Air core and reverse circulation holes from Massala West reported here were drilled on an

azimuth of 270° (towards the west), at dips of 55 . AC h ole lengths were all 60 m, with the

exception of one hole that was 53, and RC holes varied from 86 m to 125 m. The drill fences were

designed to test structures interpreted from Gradient IP survey ing, and potential mineralized

trends identified by Compass’s earlier drilling. Drilling was performed by E tasi and Co. Drilling

(Mali). All samples were prepared by Compass staff and an appropriate number of standards,

duplicates and blanks were submitted and analysed for gold at SGS (Bamako, Mali) by fire assay.

About Compass Gold Corp.

Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the

TSX- V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold

exploration permits located in Mali that comprise the Sikasso Property. The exploration permits

are located in three sites in southern Mali with a combined land holding of 867 sq. km. The

Sikasso Property is located in the same region as several multi- million-ounce gold projects,

including Morila, Syama, Kalana and Komana. The Company’s Mali-based technical team, led in

the field by Dr. Madani Diallo and under the supervis ion of Dr. Sandy Archibald, P.Geo, is

conducting the current exploration program. They are examining numerous anomalies first

noted in Dr. Archibald’s August 2017 “National Instrument 43 -101 Technical Report on the

Sikasso Property, Southern Mali.”

QAQC

All AC samples were collected following industry best practices, and an appropriate number and

type of certified reference materials (standards), blanks and duplicates were inserted to ensure

an effective QAQC program was carried out. The 1 m interval samples were prepared and

analyzed at SGS SARL (Bamako, Mali) by fire assay technique FAE505. All standard and blank

results were reviewed to ensure no failures were detected.

Qualified Person

This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo,

Compass’s Technical Director, who is the Qualified Person for the technical information in this

news release under National Instrument 43-101 standards.

Forward‐Looking Information

This news release contains "forward‐looking information" within the meaning of applicable securities laws,

including statements regarding the Company’s planned exploration work and management appointments.

Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and

developments may differ materially from those contemplated by such information. The statements in this

news release are made as of the date hereof. The Company undertakes no obligation to update forward‐

looking information except as required by applicable law.

For further information please contact:

Compass Gold Corporation Compass Gold Corporation

Larry Phillips – Pres. & CEO Greg Taylor – Dir. Investor Relations &

Corporate Communications

[email protected] [email protected]

T: +1 416-596-0996 X 302 T: +1 416-596-0996 X 301

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Website: www.compassgoldcorp.com

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