Majestic Announces Passing of Director Grant Chen

MAJESTIC ANNOUNCES PASSING OF DIRECTOR GRANT CHEN

Vancouver, British Columbia –March 9, 2023 - Majestic Gold Corp. (“Majestic” or the “Company”)

(TSX.V: MJS, FSE: A0BK1D) announces with great sadness that its long-standing Director, Mr. Shou Wu

(Grant) Chen has passed away suddenly. Mr. Chen has served as a director of the Company as well a member

of various committees since joining Majestic’s Board of Directors in November 2013.

Mr. Stephen Kenwood, President and CEO states that Mr. Chen has a been valuable director who brought a

wealth of experience and wisdom to the board and its respective committees and his presence will be greatly

missed.

On behalf of its Board of Directors, management and employees, the Company extends its deepest

sympathies to Mr. Chen’s family and thanks him for his dedication to the Company.

On behalf of the Board of Directors of Majestic Gold Corp.

“Stephen Kenwood”

President and CEO

Telephone: (604) 560-9060

Email: [email protected]

Website: www.majesticgold.com

Neither the 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.

306 - 1688 152nd Street

Surrey, British Columbia

Canada, V4A 4N2

Telephone: 604-560-9060

Facsimile: 604-560-9062

Email: [email protected]