Hanstone GOLD Closes First Tranche of Private Placement

HANSTONE GOLD CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

VANCOUVER, BC – July 29 , 2021 – Hanstone Gold Corp. (TSXV: HANS) (FSE: HGO)

("Hanstone" or the " Company"), is pleased to announce that it has closed the first tranche of its

previously announced non-brokered private placement (the “ Offering”), issuing 3,007,770 flow-

through units of the Company (the “ FT Units”) at a price of $0.44 per FT Unit, for aggregate gross

proceeds of approximately $1,323,420.

Each FT Unit consists of one common share of the Company (a “ Common Share”) which qualifies

as a “flow-through share” (within the meaning of the Income Tax Act (Canada)) and one Common

Share purchase warrant (a “ Warrant”). Each Warrant is exercisable to acquire one Common Share

(a “Warrant Share”) at a price of $0.47 per Warrant Share for a period of 24 months.

The Company intends to use the net proceeds from the first tranche of the Offering for its ongoing

exploration drilling program. The gross proceeds received by the Company from the sale of the FT

Units will be used to incur eligible "Canadian exploration expenses" (“ CEE”) that are "flow -through

mining expenditures" (as such term is defined in the Income Tax Act (Canada)) related to the

Company’s Doc and Snip North p rojects. The Company will renounce such CEE to the purchasers

of the FT Units with an effective date of no later than December 31, 2021.

The securities issued under the closing of the first tranche of the Offering are subject to a hold period

of four months and a day, expiring November 30, 2021.

The securities described herein have not been, and will not be, registered under the United States

Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or any state securities laws, and

accordingly, may not be offered or sold within the United States except in compliance with the

registration requirements of the U.S. Securities Act and applicable state securities requirements or

pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a

solicitation to buy any securities in any jurisdiction.

The Company will provide an update respecting the Offering in due course.

About Hanstone Gold

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North

Projects optimally located in the heart of the prolific mineralized area of British Columbia known as

the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past -

producing mines and several large deposits tha t are approaching potential development. The

Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in

the 3,336 -hectare Snip North Project. Hanstone has a highly experienced team of industry

professionals with a suc cessful track record in the discovery of gold deposits and in developing

mineral exploration projects through discovery to production.

Ray Marks, President and Chief Executive Officer

For Further Information Contact:

Carrie Howes, Director of Communications, +1-(778)-551-8488, [email protected]

Or visit the Company’s website at www.hanstonegold.com

Cautionary Statement Regarding Forward Looking Information:

The information contained herein contains “forward -looking statements” within the meaning of the

United States Private Securities Litigation Reform Act of 1995 and “forward -looking information”

within the meaning of applicable Canadian securi ties legislation. “Forward -looking information”

includes, but is not limited to, statements with respect to the activities, events, or developments that

the Company expects or anticipates will or may occur in the future. Generally, but not always,

forward-looking information and statements can be identified using words such as “plans”, “expects”,

“is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or

the negative connotation thereof or variations of such w ords and phrases or state that certain

actions, events, or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”

or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs,

assumptions, estimates and forecasts about Hanstone’s business and the industry and markets in

which it operates and will operate. Forward -looking information and statements are made based

upon numerous assumptions, including among o thers, the results of planned exploration activities

are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be

available if needed and on reasonable terms, that third party contractors, equipment, supplies an d

governmental and other approvals required to conduct Hanstone’s planned exploration activities will

be available on reasonable terms and in a timely manner and that general business and economic

conditions will not change in a material adverse manner. Al though the assumptions made by the

Company in providing forward -looking information or making forward -looking statements are

considered reasonable by management at the time, there can be no assurance that such

assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and

uncertainties and other factors, which may cause actual results, performances, and achievements of

Hanstone to differ materially from any projections of results, performances, an d achievements of

Hanstone expressed or implied by such forward-looking information or statements, including, among

others, negative operating cash flow and dependence on third party financing, uncertainty of the

availability of additional financing, the r isk that future assay results will not confirm previous results,

imprecision of mineral resource estimates, the uncertainty of commodity prices, aboriginal title and

consultation issues, exploration risks, reliance upon key management and other personnel,

deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of

interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and

policy, competition for resources and financing, or other approvals

Although the Company has attempted to identify important factors that could cause actual results to

differ materially from those contained in the forward-looking information or implied by forward-looking

information, there may be othe r factors that cause results not to be as anticipated, estimated or

intended.

There can be no assurance that forward -looking information and statements will prove to be

accurate, as actual results and future events could differ materially from those anticipated, estimated

or intended. Accordingly, readers should not place undue reliance on forward -looking statements or

information. The Company undertakes no obligation to update or reissue forward-looking information

because of new information or events except as required by applicable securities laws

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of

this release.