Patriot Gold Provides Shareholder Update

Patriot Gold Provides Shareholder Update

An Indicated Mineral Resource of 14,050,000 tonnes at an internal cutoff grade of 0.117 gpt Au_Eq, an average grade of 0.58 gpt Au containing 260,000 gold ounces.

An Inferred Mineral Resource of 2,950,000 tonnes at an internal cutoff grade of 0.117 gpt Au_Eq, an average grade of 0.66 gpt Au containing 63,000 gold ounces.

The Project demonstrates strong economic viability at a variety of metal prices with a significant upside potential should metal prices regain previous strengths seen in the three year trailing average.

At the PEA base case of $1,250/oz Au the Project has strong economics with a pre-tax payback of nominally 1.25 years, pre-tax IRR of 42.1%, and an after-tax IRR of 39%.

The PEA estimates initial capital expenditures to be $33.4 million.

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's web site at http://www.sec.gov.