Big Ridge Gold Corp. announced that it has engaged SGS Geological Services to update the mineral resource estimate ("MRE") for the Hope Brook Gold Project located in southwest Newfoundland & Labrador. The updated MRE will incorporate results from the company's recently completed Phase I drill program that focused on expanding near-surface gold and copper mineralization to the southwest of the current resource at the Main Zone and at depth towards the 240 Zone.

Timing for the release of the updated MRE is anticipated in H1 2023. Highlights: First update of a mineral resource estimate at the Hope Brook gold project since 2014 to include new drilling; First Hope Brook mineral resource estimate to include copper mineralization to ensure copper quantities can be identified and quantified for in further economic study. Copper was historically processed at the Hope Brook Mine; About Hope Brook: The Hope Brook Gold Project is an advanced stage, high-grade gold project that produced 752,162 ounces of gold from 1987 - 1997.

Hope Brook hosts an indicated gold resource totalling 5,500,000 tonnes grading 4.77 grams per tonne gold for 844,000 ounces and inferred resources totalling 836,000 tonnes grading 4.11 grams per tonne gold for 110,000 ounces based on a 3.0 gram per tonne cut-off grade and a long-term gold price of US$1,200, according to a technical report for Big Ridge Gold Corp., prepared by authors Michael Cullen, P. Geo., and Matthew Harrington, P. Geo., of Mercator Geological Services Limited and Jeffrey Burke, P. Geo., and titled "NI 43-101 Technical Report for the Hope Brook Gold Project, Newfoundland And Labrador, Canada", April 6, 2021. The Hope Brook gold deposit is a high-sulfidation epithermal gold deposit hosted in the Proterozoic aged Whittle Hill Sandstone and is intruded by a Late Proterozoic quartz-feldspar porphyry sill-dike complex of the Roti Intrusive Suite. The deposit in located adjacent to and within an extensive advanced argillic alteration envelope which includes pyrophyllite, kaolinite, andalusite, and alunite.

The principal gold mineralization occurs in a buff-colored massive, vuggy silicic alteration with an associated, less developed grey silicic alteration with pyrite, chalcopyrite and lesser bornite. Gold mineralization is also found with pyrite in units of advanced argillic alteration adjacent to or near silicic alteration horizons. The altered and mineralized zone is cut by mafic dykes whose contacts are often mineralized.

All of the altered and mineralized sequences and the intruded dykes have been folded. Hope Brook is located 85 kilometers east of Port aux Basques, Newfoundland. The project has well maintained infrastructure on site, including an operational 28-person camp, an 1,100-meter airstrip, ice- free docking facility and importantly, connection to the provincial electrical power grid via an on-site substation.

Significant exploration potential remains on the 26,000-hectare concession providing a great opportunity to expand the mine area as well as surface showings throughout the concessions.