Pacton Gold Inc. provide an exploration update at its ongoing 10,000 m drill program and outline plans for the use of proceeds from recent, successful financing at the Red Lake Project, Ontario. Ahead of Schedule: The fully funded 10,000 m drill program is well underway and ahead of schedule with approximately 4,000 m drilled in 10 holes. First pass drilling is now complete at Boyden West, Carricona East and Boyden East.

14 Holes Remaining: The remaining 6,000 m of drilling will focus on the Claremont target area, where 14 holes are planned. The drill program is anticipated to be completed in early summer 2022. Over 2,800 Samples Submitted to Lab for Assays: All samples from the first 10 holes and the re-sampling campaign have been delivered to Activation Laboratories Ltd. in Thunderbay, Ontario.

A total of 2,825 samples have been submitted to the lab. The Company anticipates a turnaround time of approximately two months for assay results. Results from the drill program will be reported as they come in.

Proceeds from the recent financing will be used for continued target generation and prospect development at the project beyond the ongoing drill campaign. Pacton will focus this exploration work at the Red Lake project including under-explored regional properties such as Gullrock and Swain. The Company plans to conduct a significant surface exploration campaign during the summer of 2022 to evaluate targets for future drill campaigns.

This campaign will include geophysics, prospecting and mapping, outcrop stripping and geochemical sampling. Additional details of this program will be announced as they are finalized. The Red Lake Gold Project, located in Red Lake, Ontario, comprises 28,000 ha.

The Project is adjacent and proximal to past, current, and near-term production mines and is also adjacent and on trend to Great Bear's Dixie discovery. Exploration to date includes successful first pass sampling, geophysical surveys, and drilling. High-grade surface samples include 126.5 g/t Au and 23.3 g/t Au.

First pass reconnaissance drilling has hit 17.5 g/t Au over a 0.5 m interval. The Project also includes regional properties, such as Gullrock, Pakwash, Dixie, Golden Loon, and Swain.