St. James Gold Corp. (the 'Company' or 'St. James') (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that it has closed the previously announced non-brokered private placement (the 'Placement') and has issued 886,668 units ('Units') at a price of $0.15 per unit for gross proceeds of $133,000.

Each Unit will be comprised of one common share and one half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at $0.20 per share for a period of one (1) year from the date of issue. All securities issued in connection with the Offering will be subject to a four-month statutory hold period. The proceeds of the Offering will used to pay outstanding indebtedness, conduct exploration work on the company's Newfoundland properties, to conduct due diligence on potential acquisitions, and for general corporate purposes. The Placement remains subject to the final approval of the TSX Venture Exchange.

About St James Gold Corp.

St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the trading symbol 'LORD', in the U.S. Market listed on OTCQB under 'LRDJF' and on the Frankfurt Stock Exchange under 'BVU3'. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with welldelineated geological theories; integrating all available geological, geochemical, and geophysical datasets and financing efficient exploration programs. The Company currently holds: (i) 100-per-cent stake in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold Corp.'s Queensway North project and (ii) a 100-per-cent stake in 9 claims and an option to acquire a further 100-per-cent interest in 19 claims, covering a total 1,730 acres, in central Newfoundland located adjacent to Marathon Gold's Valentine Lake property.

Contact:

Tel: 1 (800) 278-2152

Email: info@stjamesgold.com

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, 'forward-looking statements'). All other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as 'will likely result', 'are expected to', 'expects', 'will continue', 'is anticipated', 'anticipates', 'believes', 'estimated', 'intends', 'plans', 'forecast', 'projection', 'strategy', 'objective' and 'outlook'. Forwardlooking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management's beliefs, estimates, assumptions or opinions change, 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, the reader is cautioned not to place undue reliance on forwardlooking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company's control, which could cause actual results, performance, achievements and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company's Annual Information Form dated July 26, 2021 (the 'AIF') filed under the Company's profile on SEDAR at www.sedar.com. The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results. New factors emerge from time to time, and it is not possible for the Company to consider all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement

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