Radius Gold defines large silver system at California Target, Amalia Project, Mexico

news release

December 15, 2021

Radius Gold defines large silver system at California Target, Amalia Project,

Mexico

Vancouver, British Columbia – Radius Gold Inc. (TSXV:RDU) is pleased to report results from the California

target at the Amalia Project, Mexico (Figure 1). Radius has defined an extensive zone of both high grade

and disseminated silver gold mineralization in its initial drill program at the California target (Figure 2

and Table 1).

The initial 14-hole, 3814m drill program intersected multi-phase breccia and stock -work vein systems

with significant widths and high grades up to 4210 g/t Ag and 33.1 g/t Au . All assays have now been

received and the drill rig moved to the El Cuervo target where drilling is in progress.

New drill results include:

AMDD21-045 87.25m @ 60 g/t Ag

Including 10.95m @ 104 g/t Ag

And 3.10m @ 165 g/t Ag

And 3.30m @ 187 g/t Ag

Bruce Smith, Radius CEO, comments, “The results from California are a great advance for the Amalia

Project, with multiple intersections over 1km of strike including:

AMDD21-034 3.95m @ 487 g/t Ag and 2.15 g/t Au

AMDD21-038 11.20m @ 379 g/t Ag and 1.26 g/t Au

AMDD21-039 26.90m @ 353 g/t Ag and 2.59 g/t Au

AMDD21-043 12.75m @ 259 g/t Ag and 0.54 g/t Au

AMDD21-044 19.05m @ 346 g/t Ag and 0.63 g/t Au

The system remains open to expansion along strike and to depth and so far has only been drilled on

200m centers. With the San Pedro zone drill defined and infill drilling planned for next year at California,

we will be in a position to define a significant resource at the Amalia Property. With drilling on-going at

the El Cuervo target and many targets remaining to drill test (Oro Viejo, La Caverna, California SE), 2022

will be an exciting year for Radius.”

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Drilling is currently in progress at El Cuervo target, which is a previously untested, subparallel structure

where s tockwork veining and brecciation has been mapped up to maximum 40m wide and semi-

continuously for 1.5km. Surface rock chip samples at El Cuervo range from below detection to 637 g/t

Ag and 2.24 g/t Au. PAS is operating the El Cuervo drill program and expects to complete 3500m of drilling

in the first program at the target.

Figure 1. Geology and target overview - Amalia Project.

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Figure 2. California target – Drilling and Ag geochemistry

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Table 1. Drill results California Target

DRILLHOLE

FROM

(m) TO (m)

INTERVAL

(m) Ag (g/t) Au (g/t) Est.TrueWidth

AMDD21-032 38.10 44.30 6.20 93 0.43 5.62

and 62.70 90.00 27.30 90 0.26 24.74

Including 78.00 80.35 2.35 220 0.61 2.13

Including 86.00 88.60 2.60 263 1.37 2.36

AMDD21-033 148.60 199.00 50.40 50 0.05 23.66

Including 178.80 194.25 15.45 68 0.07 7.25

Including 188.20 192.40 4.20 113 0.12 1.97

AMDD21-034 145.70 149.65 3.95 487 2.15 3.58

Including 146.80 149.65 2.85 658 2.96 2.58

Including 148.00 148.50 0.50 2810 15.15 0.45

AMDD21-035 212.65 229.80 17.15 35 0.07 10.32

and 243.10 243.50 0.40 482 3.36 0.24

AMDD21-036 108.60 110.35 1.75 578 0.27 1.59

Including 109.90 110.35 0.45 1930 0.71 0.41

AMDD21-037 177.95 180.40 2.45 37 0.18 1.30

Including 177.95 178.55 0.60 54 0.53 0.32

AMDD21-038 151.00 162.20 11.20 379 1.26 9.06

Including 156.20 157.00 0.80 4244 16.96 0.65

Including 156.20 156.55 0.35 4210 33.10 0.28

AMDD21-039 308.20 335.10 26.90 353 2.59 20.30

Including 308.20 331.90 23.70 394 2.93 17.89

Including 314.45 321.95 7.50 976 7.38 5.66

Including 317.85 321.95 4.10 1520 12.61 3.09

AMDD21-040 385.35 396.50 11.15 99 0.64 6.55

Including 385.35 393.55 8.20 120 0.78 4.82

Including 388.45 391.10 2.65 210 1.12 1.56

Including 389.60 391.10 1.50 249 1.28 0.88

AMDD21-041 144.00 145.25 1.25 36 0.03 1.13

AMDD21-042 216.95 218.50 1.55 24 0.003 0.889

AMDD21-043 102.25 115.00 12.75 259 0.54 9.48

Including 108.05 114.05 6.00 483 1.06 4.46

Including 108.05 111.25 3.20 705 1.92 2.38

AMDD21-044 273.00 312.65 39.65 204 0.35 29.47

Including 283.00 312.65 29.65 256 0.44 22.03

Including 287.50 306.55 19.05 346 0.63 14.16

Including 301.00 306.55 5.55 770 1.69 4.12

Including 304.00 305.65 1.65 1446 5.11 1.23

Including 305.00 305.65 0.65 2470 11.90 0.48

AMDD21-045 333.75 421.00 87.25 60 0.05 50.04

Including 339.50 350.45 10.95 104 0.09 6.28

Including 359.50 362.60 3.10 165 0.08 1.78

Including 413.90 417.20 3.30 187 0.29 1.89

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The Agreement

Pursuant to an option agreement signed in June 2018, Pan American Silver Corp. has the option to earn

up to an initial 65% interest in the Amalia Project by making cash payments to Radius totalling US$1.5

million (of which US$ 800,000 has been received) and expending US$2 million on exploration over fou r

years. Pan American may earn an additional 10% by advancing the property to preliminary-feasibility.

Quality Assurance and Quality Control

Drilling is carried out using NQ and HQ size tooling. Drill core is cut in half using a rock saw with one-half

of the core then taken as a sample for analysis. Sample intervals are generally 1m intervals, producing

samples of between 2 to 9 kg. Half-core samples are delivered to the ALS Geochemistry laboratory

facilities in Chihuahua, Me xico. The samples are fire assayed for Au and are analysed for Ag and multi -

elements using method code ME-ICP61 following a four-acid digestion. Overlimits are analysed using an

appropriate method. Multi-element geochemical standards and blanks are routinely entered into the drill

core sample stream to monitor laboratory performance. Quality control samples submitted to ALS were

returned within acceptable limits.

Technical Information

Bruce Smith, M.Sc. (Geology), a member of the Australian Institute of Geoscientists, is Radius’s Qualified

Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Smith

has reviewed and approved the technical information contained in this news release.

Radius Gold Inc.

Radius has a portfolio of projects located in Mexico, United States and Guatemala which it continues to

advance, utilizing partnerships where appropriate in order to retain the Company’s strong treasury. At

the same time, management is seeking out additio nal investment and project acquisition opportunities

across the globe.

ON BEHALF OF THE BOARD

Bruce Smith

President and CEO

Symbol: TSXV-RDU

Contact: Bruce Smith

200 Burrard Street, Suite 650

Vancouver, BC V6C 3L6

Tel: 604-801-5432; Toll free 1-888-627-9378; Fax: 604-662-8829

Email: [email protected]

Website: www.radiusgold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts

responsibility for the adequacy or accuracy of this release.

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Forward-looking statements

Certain statements contained in this news release constitute forward -looking statements within the meaning of

Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-

looking statements and include, without limitation, statements about the results of exploration work and future

plans at the Amalia Project. Often, but not always, these forward looking statements can be identified by the use of

words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”,

“detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “re flecting”, “containing”,

“remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar

expressions, including negative variations.

Forward-looking statements involve known and unknown risks, uncertai nties and other factors which may cause

the actual results, performance or achievements of the Company to be materially different from any results,

performance or achievements expressed or implied by forward -looking statements. Such uncertainties and factors

include, among others, whether the planned exploration work at Amalia will proceed as intended; changes in

general economic conditions and financ ial markets; the Company or any joint venture partner not having the

financial ability to meet its exploration and development goals; risks associated with the results of exploration and

development activities, estimation of mineral resources and the geolo gy, grade and continuity of mineral deposits;

unanticipated costs and expenses; and such other risks detailed from time to time in the Company’s quarterly and

annual filings with securities regulators and available under the Company’s profile on SEDAR at www.sedar.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results

to differ materially from those described in forward -looking statements, there may be other factors that cause

actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of

management, including but not limited to: that the exploration work at the Amalia Project will advance as planned; that the

Company’s stated goals and the planned exploration and development activities at its properties will be achieved; that

there will be no material adverse change affecting the Company or its properties; and such other assumptions as set

out herein. Forward-looking statements are made as of the date hereof and the Company disclaims any obligation

to update any forward-looking statements, whether as a result of new information, future events or results or

otherwise, except as required by law. There can be no assurance that forward -looking statements will prove to be

accurate, as actual results and future events could differ materially from those anticipated in such statements.

Accordingly, investors should not place undue reliance on forward-looking statements.