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FireFox Gold Encounters Significant Coarse Gold at the East Target on the Mustajärvi Project, Finland

Drill Results

FireFox Gold Encounters Significant Coarse Gold at the East Target

on the Mustajärvi Project, Finland

SODANKYLA , FINLAND – (September 6, 2022) – FireFox Gold Corp. (TSX.V: FFOX)(OTCQB: FFOXF)(“FireFox”

or the “Company”) reports additional analyses from the recent drill program at the Company’s 100%-held

Mustaja rvi Gold Project in Lapland, Finland . FireFox previously reported its best drill intercept yet from

Mustaja rvi, a 13.85-metre interval of drill hole 22MJ006 that averaged 14.39 g/t gold beginning only

24.2m down hole (see Company news release dated July 13, 2022). A subsequent program of screen fire

assays of the highly mineralized interval confirmed that the mineralization is remarkably consistent, but the

tests also identified coarse gold in one of the samples (Table 1).

HIGHLIGHTS FROM SCREEN FIRE ASSAYS OF 13.85 METRE HIGH-GRADE INTERVAL IN 22MJ006

• One sample from 25.05 to 26.00 metres depth returned a total gold grade of 439 g/t

o This sample contained 423 milligrams of coarse gold

• This bonanza grade sample was part of a field duplicate pair:

o The duplicate twin contained total gold of 15.85 g/t

• If all the screen fire results were incorporated into the broader high-grade interval, it would average

28.74 g/t over 13.85 metres

• Most of the interval exhibited excellent consistency between original fire assay and screen fire assays

• FireFox is working with its consultants and service providers to better understand and characterize

the coarse gold at Mustaja rvi

“The high-grade gold at Mustajärvi comes with its own special challenges, but the team has done an excellent

job implementing a rigorous quality assurance protocol. These screen fire assay results remind us that this

system contains significant coarse gold, and any noteworthy drill intercept may contain more gold than we first

estimate,” commented Carl Lo fberg, CEO of FireFox Gold. “The gold system in the East Target comes right to

surface and we see evidence for more than one direction of structural control . We look forward to bringing the

drill back to follow-up, as these shallow intercepts are open in several directions.”

The Company’s consulting geochemist and quality control expert, Mary Doherty1, remarked in her evaluation

of the new drilling data from Mustaja rvi, “The Firefox sampling, preparation and analytical procedures are

very thorough and carefully thought out. The one interval with extremely high gold suggests the presence of

coarse gold which is not unexpected and is well characterized. Precision for the other gold assays in the drill hole

examined is very good at 7% precision and < 4% bias between sample groups.”

FireFox maintains an ongoing quality assurance program that includes screen fire gold assays on the high -

grade intervals encountered at Mustaja rvi. In this case, the team selected 8 samples from the 13.85 -metre

interval for screen fire gold assay. These sa mples all contained more than 10 g/t gold, as reported from an

initial 50-gram fire assay and confirmed by triplicate 50-gram gravimetric “overlimit” fire assays.

As an additional component of its quality assurance program, FireFox designates approximatel y 3% of

drilling samples as field duplicates. One of the field duplicates fell within this highly mineralized interval. In

this instance, the other half of the sawed core is submitted blindly to the lab as a check of the total variability

of gold, including that caused by the geological sample medium plus sample preparation and analysis. This

resulted in the entire drill core being processed for the 0.95-metre interval in question. Hence, the discovery

that this interval contained a coarse gold fragment (a “nugget”).

Native gold tends to be malleable, which means it may not be ground or reduced in size when subjected to

pulverizing in a standard lab preparation procedure. The screen fire assay procedure (see details below)

evaluates this component of unpulverized material for gold by passing the entire 1,000-gram sample through

a 106-micron (Tyler 150 mesh) screen. Gold and other material that has not been sufficiently pulverized will

be retained on the screen, then this entire “plus fraction” is fire assayed, reporting the contained gold in

milligrams.

During the screen fire process, the assayers determined that there were 423 milligrams of coarse gold in the

sample, a significant part of the 23.2 grams of material collected in the plus fraction . Interestingly, the fine

fraction of material, which did pass through the screen, assayed consistently around 16 g/t gold. The

weighted average of the gold in the fine fraction p lus the gold in the coarse fraction results in a calculated

total gold value of the sample of 439 g/t.

Table 1: Complete Listing of Gold Assays in High-Grade Interval from Drill Hole 22MJ006

Sample ID From (m) To (m) Au FA/AA

(g/t)

Au FA/Grav (”Overlimits”)

(g/t)

Au Screen FA**

(g/t)

#1 #2 #3

D110166 24.15 25.05 >10.0 16.85 17.35 17.15 17.40

D110167 25.05 26.00 >10.0 16.75 17.00 16.35 15.85

D110168* 25.05 26.00 >10.0 18.70 18.20 18.20 439

D110171 26.00 27.00 >10.0 18.85 19.05 19.20 18.40

D110172 27.00 28.00 >10.0 15.85 15.85 15.65 16.00

D110173 28.00 28.80 >10.0 18.65 18.00 18.70 17.90

D110174 28.80 29.80 >10.0 59.10 59.80 60.20 63.0

D110175 29.80 30.30 1.205

D110176 30.30 31.30 2.90

D110177 31.30 32.30 6.27

D110178 32.30 33.20 6.41

D110179 33.20 34.20 >10.0 14.20 14.65 14.30 11.05

D110180 34.20 35.00 5.86

D110181 35.00 36.00 9.43

D110182 36.00 37.00 8.55

D110183 37.00 38.00 5.34

* - Sample is a field duplicate of D110167, each sample is half drill core representing 25.05 – 26.00 metres

** - Full screen fire assay procedure details are provided below, this value is total gold calculated from assays of

the coarse and fine fractions.

Significance of Coarse Gold at Mustajärvi

Coarse gold is something for which explorers must plan when drilling an orogenic gold system. However,

visual logging will nev er identify all coarse gold in drill core or rock samples. Despite abundant high-grade

gold assays, FireFox geologists believe they have recognized visible (coarse) gold in only three drill holes so

far on the Mustaja rvi Project, most notably in the first hole of the 2021 drill program (see Company news

releases dated April 15, 2021 & June 17, 2021). Two of the three drill holes with likely visible gold were in

the Northeast Target, and one hol e in the East Target may have contained very small grains of visible gold

(22MJ018). There was no such report in the log from 22MJ006. As noted, FireFox has rigorous procedures in

place to help assure quality samples and the application of appropriate sample preparation and analytical

procedures. The consistency and precision of the gold a ssays in this interval within 22MJ006 confirm that

most of the gold in the East Target is fine-grained or in a mineral phase that is relatively homogeneous in the

host rock.

Coarse gold occurs in isolated particles, blebs, wires, or inclusions that cannot be quantitatively estimated.

The random element of coarse gold dictates that more is present in a mineral system than will ever be

identified during drilling. Therefore, once it has been identified on a project, it is incumbent on the technical

team to st udy and characterize the occurrences. This information may be used in the future to build a

statistical model to support resource calculations. Based on that kind of work, a qualified person may elect

to cap extremely high-grade assays in a resource model . The knowledge that coarse gold exists in a deposit

implies that any significant gold intercept is subject to some uncertainty as to the actual contained gold grade.

FireFox’s quality control consultant has recommended that the Company maintain its current sampling

procedures, laboratory method selection, and quality assurance protocol. As an extra measure of caution, she

also recommended that the Company implement additional c leaning sand during sample preparation

between samples within zones identified as likely to be high-grade. The wash sand can be assayed for gold to

assess possible carryover between samples.

The Company also plans to work with its consultant and certain e xpert service providers to initiate another

study to rigorously characterize the coarse gold in the high -grade zones at Mustaja rvi. The exact nature of

the follow-up study will remain confidential as it may constitute a competitive advantage for the Company in

its ongoing work. Findings from the study will be evaluated and released, likely in 2023.

Geology and Geochemistry of the High-Grade Drill Intercept

Most of the gold mineralization at Mustaja rvi occurs in volcaniclastic or tuffaceous rocks (Sodankyla Group)

that occupy the northern footwall of a sheared contact with mafic volcanic and ultramafic rocks of the

Savukoski Group to the south. A corridor along the northeast-striking shear zone has been shown by FireFox

drilling to be albite -altered with variable silica and sericite for more than 2.0 kilometres. Gold occurs in at

least three significant pods or clusters associated with quartz -carbonate-tourmaline-pyrite (QCTP) veins of

variable width or with more intense alteration and disseminated p yrite (including semi-massive to massive

pyrite). The three zones of drill-indicated gold (so far) are called the Central Zone, the Northeast Target, and

the East Target. The most recent drill results have come from the East Target (Figure 1).

Figure 1 – Mustajärvi East Target Drilling On Magnetics Base Map

In this part of the East Target, FireFox geologists have logged the host unit as tuffites of intermediate

composition. The sequence in drill hole 22MJ006 is pervasively altered by albite with variable but intense

silica and sericite. There is increased pyrite from approximately 24.5 metres through approximately 36

metres downhole (Figures 2 and 3). The strongest gold values in the mineralized interval are associated with

bands or clots of semi -massive to massive pyrite, which is sometimes oxidized in the shallow portions of

these holes. The zone is also cut by modest QCTP veins with molybdenite. Structures are frequently in

evidence, based on intense fracturing, open space, and intense oxidation.

Gold mineralization has been drilled at Mustaja rvi along more than 2.0 kilometres of the Mustaja rvi Shear

Zone (MSZ). The mineralization has been consistent in its primary geochemical association: bismuth,

tellurium, molybdenum, cobalt, nickel, and selenium. There is also low-level silver, copper, lead, zinc, arsenic,

antimony, and rhenium. The altered shear zone is typically depleted in arsenic, copper, and zinc with only

local minor enrichment in these elements with high gold. The 13.85 metre high -grade gold i nterval in

22MJ006 contains some of the highest molybdenum (757 ppm) and tellurium (274 ppm) geochemistry yet

drilled at Mustaja rvi.

One element of the geochemistry may be related to the consistency generally seen in the gold -mineralized

intervals from Mustaja rvi. Gold is closely associated with tellurium in all the drilling to date on the project.

FireFox has seen gold within complex telluride minerals under microscope examination, both as free mineral

grains and within pyrite. Gold has also been observed within the mineral molybdenite. Telluride minerals are

known to behave in a much more brittle fashion than native gold and electrum, meaning that gold telluride

minerals are more likely to be effectively reduced in size during pulverization. This behaviour could account

for high-grade gold samples with good repeatability. The rare coarse native gold and electrum would account

for the coarse particles captured by the screen fire assay procedure.

Figure 2 – Photo of drill core (sawed) from hole 22MJ006 – 24m to 30m down hole. (Click HERE for full sized image)

Figure 3 – Photo of drill core (whole) from hole 22MJ006 – 27m – 34m down hole. (Click HERE for full sized image)

Methodology & Quality Assurance

The core was transported from the rig to the Company´s core storage facility in Sodankyla , where FireFox’s

exploration team conducted the geological and geotechnical logging and selected the assay intervals. Assay

intervals were generally 1 metre but in so me circumstances were modified according to lithological

boundaries and other factors. FireFox geologists maintained chain of custody and sampling procedures

according to best industry practice and with due attention to quality assurance and quality control, including

sampling field duplicates and insertion of certified standard and blank samples.

FireFox team members transported the samples to an ALS sample prep lab in Sodankyla . The samples were

sawed then crushed to -2 mm, split and pulverized into 1kg pulps, before being shipped to the ALS facility in

Rosia Montana, Romania for gold by fire assay of 50 gm aliquots with AAS finish (method Au-AA24). Samples

assaying above 10 g/t gold are automatically re-assayed by a 50 gm fire assay with gravimetric finish (method

Au-GRA22). At FireFox’s request, these overlimit assays were completed in triplicate in order to evaluate the

homogeneity of the gold in the prepared samples. Other elements, altogether 48, were measured after four-

acid digestion by ICP-AES and ICP-MS (method ME-MS61) at the ALS facility located in Loughrea, Ireland.

In this case, FireFox geologists requested that the samples exceeding 10 g/t gold be re -analysed by a 1,000-

gm screen fire assay (Au-SCR24) on a new pulp collected from coarse reject. The following is the laboratory

procedure as provided publicly by ALS Geochemistry:

The sample pulp is passed through a 106 µm (Tyler 150 mesh) stainless steel screen. Any material remaining

on the screen (+) 106 µm is retained and analyzed in its entiret y by fire assay with gravimetric finish and

reported as the Au (+) fraction. The material passing through the screen [(-) 106 µm fraction] is homogenized

and two sub-samples (50g) are analyzed by fire assay with AAS finish (Au AA26 and Au AA26D). The average

of the two AAS results is taken and reported as the Au ( -) fraction result. All three values are used in

calculating the combined gold content of the plus and minus fractions.

The gold values for both the (+) 106 and ( -) 106-micron fractions are reported together with the weight of

each fraction as well as the calculated total gold content of the sample.

Calculations:

Au-avg(ppm) = (Au-(1) + Au-(2)) / 2

AuTotal(ppm) = ((Au-avg(ppm) * Wt.Minus(g)) + (Au+(ppm) * Wt.Plus(g))) / (Wt.Minus(g) + Wt.Plus(g))

It should be noted that FireFox audited the local ALS sample preparation lab during 2021 and found it to be

operating to a high standard. Additional follow-up interactions with the lab after receipt of these results also

identified no problems with lab procedures. The consistency of the gold between the original assays and the

screen fire assays, in most cases, is a good indication that the sample preparation is likely not introducing

contamination. This is because screen fire assays are prepared from the original crushed reject material,

which means that rock was not passed through the grinding mills in the first place. The pulverization process

is almost always the source of carryover contamination.

ALS Laboratories is a leading international provider of assay and analytical data to the mining industry. All

ALS geochemical hub laboratories, including the Irish facility, are accred ited to ISO/IEC 17025:2017 for

specific analytical procedures. The Firefox QA/QC program consists of insertion of certificated standard

material and blanks into the analytical batches , none of which showed significant deviations from

recommended values in the reported data.

1 – Mary Doherty is an exploration geochemist and certified professional geologist with more than 35 years’

experience in mining and mineral exploration. She has recently held positions as Exploration Technologies

Group Executive and Chief Geochemist for Newmont Goldcorp Mining Corp. and North American Business

Development Manager for ALS Minerals. Ms. Doherty is currently an adjunct professor of exploration

geochemistry at the Colorado School of Mines and principal of Internati onal Geochemical Consultants LLC.

She is engaged by FireFox as a consultant but is otherwise independent of the Company.

Patrick Highsmith, Certified Professional Geologist (AIPG CPG # 11702) and director of the Company, is a

qualified person as defined by National Instrument 43-101. Mr. Highsmith has helped prepare, reviewed, and

approved the technical information in this news release.

Dr. Sven Ho nig, Certified European Geologist (EFG EurGeol Title # 1789) and General Manager of Exploration

for the Company, is a qualified person as defined by National Instrument 43 -101. Dr. Ho nig has supervised

the field work reported herein and has helped to prepare and approved the technical information in this news

release.

About FireFox Gold Corp.

FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also

trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has

been exploring for gold in Finland since 2017 where it holds a huge portfolio of prospective ground.

Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top -10

rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining

tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted

its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.

For more information, please refer to the Compan y’s website and profile on the SEDAR website at

www.sedar.com.

On behalf of the Board of Directors,

“Carl Löfberg”

Chief Executive Officer

CONTACT:

FireFox Gold Corp.

Email: [email protected]

Telephone: +1-778-938-1994

Forward Looking Statements

The information herein contains forward looking statements that are subject to a number of known and unknown

risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in

our forward-looking statements. Factors that could cause such differences include changes in world commodity

markets, equity markets, the extent of work stoppage and economic impacts that may result from the COVID 19

virus, costs and supply of materials relevant to the mining industry, change in government and changes to

regulations affecting the mining industry.

Forward-looking statements in this release may include statements regarding: the intent to conduct additional

drilling; the belief as to the location of the most prospective gold targets; the location of targets for future drill

programs; and the current and future work program, including the extent and nature of exploration to be

conducted in 2022. Although we believe the expectations reflected in our forward -looking statements are

reasonable, results may vary.

The forward -looking statements contained herein represent the expectations of FireFox as of the date of

dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance

on forward-looking statements and should not rely upo n this information as of any other date. FireFox does not

undertake to update this information at any particular time except as required in accordance with applicable laws.