DBG.V · 2023-04-18 12:00:00

Doubleview Reports Hat Project Copper Equivalent Disclosures Will Now Include Recoverable Copper, Gold, Cobalt and Scandium

Corporate Updates

Doubleview Reports Hat Project Copper

Equivalent Disclosures Will Now Include

Recoverable Copper, Gold, Cobalt and

Scandium

Vancouver, British Columbia--(Newsfile Corp. - April 18, 2023) -

Doubleview Gold Corp. (TSXV:

DBG) (OTCQB: DBLVF) (FSE: A1W038)

(the "Company or "Doubleview") is pleased to announce that

following discussions with the Company's technical advisors regarding metallurgical matters related to

its Hat Project, assay results will be reported as Copper Equivalent ("CuEq") which will include gold,

cobalt and scandium in addition to copper.

Doubleview's Hat Project metallurgical studies have been managed by EUR ING Andrew Carter B.Sc.

CEng. MIMMM, MSAIMM SME of Tetra Tech, Geo-Environment & Mining Services. The Hat Project is

located in the Atlin Mining District of northwestern British Columbia.

Table 3 presents drill core assay and Copper Equivalent values for copper, gold, cobalt, and scandium.

Copper Equivalent values also recognize recoverability of metals and metal prices. Assay data included

in Table 3 has been previously released.

Future drilling, metallurgical work, and modeling may result in

different outcomes.

Metal prices and markets are highly variable and current estimates may differ from

those realized in future.

Inclusion of scandium in Hat Project Copper Equivalent values significantly increases the CuEq figures.

The Hat Property is interpreted to be a silica-undersaturated alkalic copper-gold porphyry system similar

to other metal-rich porphyry systems in the Golden Triangle area of British Columbia. Industry practice is

to disclose copper-gold porphyry systems on either a copper or gold equivalency basis. As presently

interpreted, Doubleview's technical team recognizes two significant mineralizing events:

scandium

appears to be associated with an early stage of intrusion and mineralization that was followed by a

higher temperature intrusive event that brought copper and other metals.

The Company's exploration work has been based on a conceptual model in which the copper and

gold values support a potential mine at the Hat Property.

Scandium would act as a high value

credit from the operation.

Metal values shown in Table 1 used in Copper Equivalent estimations follow guidance provided by

Energy, Metals and Agriculture Consensus Forecasts® for 2023 and 2024.

Table 1: Metal prices (Source: Energy, Metals and Agriculture Consensus Forecasts® for 2023 and

2024)

Metal

Unit

Price per unit

Copper

$/lb

3.84

Cobalt

$/lb

23.30

Gold

$/troy oz

1,812.14

Silver

$/troy oz

22.20

Scandium

$/g

2.00

Copper Equivalent is a calculated single-value composite of possibly economically recoverable metals

and is widely used in the evaluation of early-stage mineral properties. CuEq estimates should not be

unduly relied upon in any current evaluation of Hat Project mineralization. Doubleview's CuEq estimates

employ the following equation:

=(Ag(g/t) x Price_Ag x Rec_Ag/31.1035

Au(g/t) x Price_Au x Rec_Au/31.1035

Co(%) x Price_Co x

Rec_Co x 22.0462

Cu(%)x Price_Cu x Rec_Cu x 22.0462

Sc(g/t) x Price_Sc x Rec_Sc x Sc_con) /

(Price_Cu x 22.0462)

[Note: Rec stands for recovery as per table 2]

Current technical studies and research consider production of a high-gold, low-cobalt concentrate and a

low-gold, high-cobalt pyrite concentrate, followed by a scandium recovery circuit that would process end-

product tailings. Scandium in tailings could be purified to yield scandium phosphate, a high value

specialized product*, or scandium oxide, a much lower value commodity. The Company has chosen

scandium oxide for its CuEq estimation as it has broader industrial applications.

*Scandium phosphate is usually sold in small quantity - high purity five gram lots at about $35 per gram. Demand is limited with sale prices usually not

disclosed.

Flotation and extraction test work has shown that the following recoveries can be achieved.

Table 2. Flotation and extraction test work Recoveries

Metal

Overall Recovery (%)

Copper

Cobalt

Gold

Silver

Scandium

As reported extraction and recovery

Table 3:

Hat Project selected assays and corresponding CuEq values, excluding and including

scandium.

DDH

From (m)

(m)

Length (m)

(g/t)

(%)

(g/t)

CuEq (%)

exclu. Sc

CuEq (%)

incl Sc

H008

44.0

400.7

356.70

0.38

0.18

83.28

0.15

30.5

0.28

0.90

H008

inc.

113.6

400.7

287.13

0.43

0.21

85.89

0.18

30.5

0.32

0.94

H008

inc.

177.6

192.4

14.80

0.67

0.69

191.26

0.32

23.8

0.79

1.27

H008

And inc.

244.5

400.7

156.20

0.48

0.18

80.37

0.20

29.6

0.32

0.92

H011

15.0

407.1

392.11

0.70

0.20

91.92

0.24

27.5

0.37

0.93

H011

inc.

78.3

102.7

24.38

3.15

0.43

172.66

0.72

34.6

0.96

1.67

H011

And inc.

263.1

293.8

30.74

1.60

0.45

116.24

0.55

31.8

0.80

1.45

H011

And inc.

375.1

407.1

32.00

0.44

0.38

121.88

0.58

23.1

0.78

1.25

H012

10.0

434.0

424.00

0.18

0.14

79.01

0.13

26.4

0.23

0.77

H012

inc.

151.0

434.0

283.00

0.25

0.21

89.05

0.18

25.9

0.32

0.85

H016

45.7

416.5

370.80

0.32

0.11

77.70

0.14

31.7

0.22

0.87

H017

39.7

470.4

430.70

0.35

0.14

74.65

0.17

26.4

0.26

0.80

H018

9.1

314.0

304.86

0.33

0.16

66.23

0.13

28.4

0.24

0.82

H018

inc.

42.1

314.0

271.93

0.36

0.17

66.91

0.15

28.2

0.26

0.83

H022

14.4

505.2

490.75

0.32

0.22

81.50

0.22

29.9

0.36

0.96

H022

inc.

14.4

463.8

449.38

0.35

0.24

85.97

0.23

30.3

0.38

1.00

H022

inc.

45.5

463.8

418.28

0.37

0.25

88.47

0.25

30.3

0.40

1.02

H022

And inc.

304.9

365.3

60.41

0.90

0.58

191.64

0.70

1.04

H023

24.1

539.0

514.90

0.46

0.18

78.94

0.21

29.3

0.33

0.92

H023

inc.

56.7

470.0

413.28

0.51

0.22

89.13

0.25

29.1

0.39

0.98

H023

inc.

67.9

400.3

332.37

0.55

0.25

97.39

0.29

30.5

0.45

1.07

H023

inc.

271.9

290.0

18.08

0.54

0.51

150.22

0.78

1.04

H026

4.6

804.1

799.48

0.34

0.09

53.48

0.12

29.2

0.19

0.78

H026

inc.

10.6

522.0

511.41

0.43

0.14

67.29

0.19

28.1

0.28

0.85

H026

inc.

189.8

522.0

332.23

0.27

0.16

65.55

0.22

29.0

0.32

0.91

H027

4.6

448.5

443.88

0.28

0.18

65.77

0.19

28.4

0.31

0.88

H027

inc.

7.6

369.1

361.54

0.32

0.21

71.47

0.21

27.5

0.35

0.90

H027

inc.

19.6

30.0

10.43

2.78

1.01

94.81

0.69

1.26

H027

inc.

175.0

178.9

3.88

1.18

1.37

164.50

1.28

2.00

H030

58.0

713.4

655.40

0.39

0.11

66.58

0.17

32.6

0.24

0.91

H030

inc.

53.3

573.1

519.76

0.40

0.13

74.86

0.20

32.4

0.28

0.94

H030

inc.

88.0

537.8

449.75

0.45

0.15

83.27

0.22

34.5

0.32

1.02

H030

inc.

136.0

516.1

380.10

0.52

0.17

95.68

0.25

38.7

0.36

1.15

H031

47.4

706.0

658.65

0.34

0.11

62.88

0.17

30.0

0.24

0.85

H031

inc.

148.4

628.3

479.90

0.30

0.13

68.31

0.21

29.9

0.29

0.90

H031

inc.

237.9

531.0

293.15

0.33

0.19

77.66

0.29

30.5

0.39

1.01

H031

inc.

173.4

522.1

348.72

0.34

0.17

80.64

0.27

29.6

0.37

0.97

H031

inc.

195.6

522.1

326.50

0.33

0.18

81.75

0.28

29.8

0.38

0.99

H034

9.0

701.3

692.25

0.43

0.17

77.09

0.25

26.1

0.36

0.89

H034

inc.

49.0

660.9

611.85

0.48

0.19

84.06

0.28

26.2

0.40

0.93

H034

inc.

133.7

660.9

527.20

0.48

0.21

86.29

0.32

25.9

0.44

0.96

H034

inc.

210.8

660.9

450.05

0.51

0.23

83.33

0.35

26.1

0.48

1.01

H034

inc.

476.5

564.4

87.90

1.71

0.65

166.52

0.97

22.7

1.30

1.76

H034

inc.

478.0

540.2

62.15

2.19

0.87

200.98

1.27

22.0

1.71

2.16

DDH

From (m)

(m)

Length (m)

(g/t)

(%)

(g/t)

CuEq (%)

exclu. Sc

CuEq (%)

incl Sc

Notes:

Metal equivalents should not be relied upon for future evaluations.

Drill hole intercepts included in this news release are core lengths that may or may not be truel widths of mineralization. It is not possible to

determine true widths.

Details of analytical testing procedures are set forth in the Company's news releases dated [11/07/2013, 20/01/2014, 14/05/2014,

03/02/2015, 30/09/2019, 02/02/2020, 03/07/2020, 16/02/2021 05/08/2021 of the Company on sedar.com]

CuEq=(Ag(g/t) x Price_Ag x Rec_Ag/31.1035 + Au(g/t) x Price_Au x Rec_Au/31.1035 + Co(%) x Price_Co x Rec_Co x 22.0462 + Cu(%)x

Price_Cu x Rec_Cu x 22.0462 + Sc(g/t) x Price_Sc x Rec_Sc x Sc_con) / (Price_Cu x 22.0462)

Sc to Sc

Conversion is 1.533

Qualified Persons:

EUR ING Andrew Carter B.Sc. CEng. MIMMM, MSAIMM SME of Tetra Tech, Geo-Environment & Mining

Services is Doubleview's Qualified Person with respect to the HAT Project Metallurgical Studies as

defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed

and approved the technical contents of this news release. He is independent of Doubleview.

Erik Ostensoe, P. Geo., a consulting geologist, and Doubleview's Qualified Person with respect to the

Hat Project as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has

reviewed, and approved the technical contents of this news release. He is not independent of

Doubleview as he is a shareholder in the company.

Doubleview Gold Corp. also wishes to

announce a clarification to its previous news release dated

January 04, 2023. The TSX Venture Exchange has requested the Company to issue this clarification to

ensure that investors have accurate information.

The January 04, 2023, news release announced that the Company had appointed Red Cloud Securities

Inc. and Red Cloud Financial Services Inc. (together "Red Cloud") to provide a range of corporate

advisory services. The Company wishes to clarify that no Investor Relations Activities will be performed

under the engagement with Red Cloud. The engagement is strictly limited and focused on financial

advisory.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in

Vancouver, British Columbia, Canada, and is publicly traded on the

TSX-Venture Exchange (TSXV:

DBG) (OTCQB: DBLVF) (FSE: A1W038) (FSE: 1D4)

. Doubleview identifies, acquires and finances

precious and base metal exploration projects in North America, particularly in British Columbia.

Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and

silver properties and the application of advanced state-of-the-art exploration methods. The Company's

portfolio of strategic properties provides diversification and mitigates investment risks.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp

Vancouver, BC Farshad Shirvani

President & CEO

T: (604) 678-9587

[email protected]

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS

THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain of the statements made and information contained herein may constitute "forward-

looking information." In particular references to the private placement and future work programs

or expectations on the quality or results of such work programs are subject to risks associated

with operations on the property, exploration activity generally, equipment limitations and

availability, as well as other risks that we may not be currently aware of. Accordingly, readers

are advised not to place undue reliance on forward-looking information. Except as required

under applicable securities legislation, the Company undertakes no obligation to publicly

update or revise forward-looking information, whether as a result of new information, future

events or otherwise.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/162912

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