Visionary Gold Corp. Closes Previously Announced Acquisition of IEV Property, Prepares for Drilling at Wolf Gold Project

Visionary Gold Corp. Closes Previously

Announced Acquisition of IEV Property,

Prepares for Drilling at Wolf Gold Project

Vancouver, British Columbia--(Newsfile Corp. - July 7, 2021) - Visionary Gold Corp. (TSXV: VIZ)

("

Visionary

" or the "

Company

") is pleased to announce that it has closed its previously announced

acquisition of ~6,000 acres of state leases and unpatented mining claims from Innovative Exploration

Ventures, LLC ("

IEV

") for $99,000 CAD (the "

Transaction

"). The payment was satisfied through the

issuance of for 550,000 common shares of Visionary stock at a deemed price of $0.18 per share. (the

"

Transaction

").

Visionary also acquired IEV's statewide geologic database, including airborne

magnetics, geochemical data, structural and lithological maps, drillhole database and sample library.

Additionally, IEV members and professional geologists James Davis and Dr. Ron Marrs, have agreed to

assist Visionary with data interpretation and exploration program design on this newly acquired land

package.

Visionary CEO Wes Adams comments, "We are pleased to announce the closing of our acquisition of

IEV's large land and data package and have already begun delineating priority areas for systematic

exploration this summer on the newly acquired lands. Our primary focus for May and June was to

prepare for our maiden drill program at our flagship Wolf Gold Project, which will commence imminently.

We look forward to providing updates on drilling at Wolf as well as summarizing exploration progress on

both new and existing prospects in the coming weeks and months."

About Visionary Gold Corp.

Visionary Gold Corp is a Vancouver-based mineral exploration company focused on precious metals

discovery and development in the historically productive Lewiston gold district of Fremont County,

Wyoming, a district that, while having a strong gold mining history, has never been explored using

modern techniques. The Company now controls a 50 square kilometre land package with numerous high

potential targets.

For further information, please visit the company website at

www.visionarygoldcorp.com

Contact:

Wes Adams, Chief Executive Officer

Visionary Gold Corp.

410-325 Howe Street

Vancouver, BC V6C 1Z7

Tel: (303) 809-4668

FORWARD-LOOKING STATEMENTS

This news release contains "forward-looking statements" within the meaning of Canadian securities

legislation. These include, without limitation, statements with respect to commencement of the

Company's drilling program at the Wolf Gold Project.

Forward-looking statements are necessarily based

on a number of estimates and assumptions that, while considered reasonable, are subject to known and

unknown risks, uncertainties and other factors which may cause actual results and future events to differ

materially from those expressed or implied by such forward-looking statements. Such factors include, but

are not limited to general business, economic and regulatory risks; capital and operating costs varying

significantly from management estimates; delays in obtaining or failures to obtain required

governmental, environmental or other project approvals; uncertainties relating to the availability and costs

of financing needed in the future; inflation; fluctuations in commodity prices; delays in the development of

projects; and the other risks involved in the mineral exploration and development industry generally.

Although the Company believes that the assumptions and factors used in preparing the forward-looking

statements are reasonable, undue reliance should not be placed on these statements, which only apply

as of the date of this news release, and no assurance can be given that such events will occur in the

disclosed time frames or at all. Except where required by law, the Company disclaims any intention or

obligation to update or revise any forward-looking statement, whether as a result of new information,

future events, or otherwise.

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

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

release.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/89643