HWY.V · 2023-06-26 12:00:00

Highway 50 Gold Completes Drilling at Monroe Project

Exploration Programs

NEWS RELEASE

Vancouver, British Columbia – Highway 50 Gold Corp. (TSX.V – HWY)

June 26, 2023

Highway 50 Gold Corp. (the “Company”) announces that it has completed the

drill program on its Monroe Project. Two drill hole extensions were attempted, with

one hole being unable to continue to the intended depth , and the other

encountering unexpected geologic complexities and significant down -hole

drilling risks. Management intends to evaluate the outcome of the drilling and will

determine the direction for the project in the near future.

The scientific and technical disclosure in this news release has been approved by

Gordon P. Leask, P.Eng., President and CEO of the Company, and a Qualified

Person as defined by National Instrument 43-101 (Standards of Disclosure for

Mineral Projects).

For additional information:

Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.

Tel: 604.681.4462

About Highway 50 Gold Corp.

Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced

explorers and deal-makers. The Company is executing an exploration plan refined over 25 years

of experience in Nevada and the Aldridge Formation of southeastern British Columbia. The

exploration focus on its projects are a result of what management believes to be breakthroughs

in the understanding of north-central Nevada’s crustal architecture and a new geological

understanding on the Monroe property in British Columbia.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts

responsibility for the adequacy or accuracy of this release.

Cautionary Note This news release contains certain forward-looking statements,

including statements regarding the Company’s proposed plans for the

exploration of the Monroe property; and the business and anticipated financial

performance of the Company. These statements are subject to a number of risks

and uncertainties. Actual results may differ materially from results contemplated

by the forward-looking statements. Factors that could cause actual results to

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differ materially from those in forward-looking statements include the Company

may not obtain satisfactory results from its drilling program and exploration

activities, changes in metal prices, changes in the availability of funding,

unanticipated changes in key management personnel and general economic

conditions. Mining is an inherently risky business. Accordingly the actual events

may differ martially from those projected in the forward -looking statements.

When relying on forward-looking statements to make decisions, investors and

others should carefully consider the foregoing factors and other uncertainties and

should not place undue reliance on such forward -looking statements. The

Company does not undertake to update any forward looking statements, oral or

written, made by itself or on its behalf.