Moneta Gold Inc. announced assay results from thirteen (13) resource infill and step-out drill holes on the Windjammer gold deposit at the Tower Gold project (The "Project"), located in the Timmins Gold Camp, Ontario. The drilling was conducted as part of the 76,000 metres ("m") of infill and resource upgrade drill program completed in 2022 on the 4.5 million ("M") ounces ("oz") indicated gold ("Au") and 8.3 Moz inferred Au mineral resource estimate. The latest assay results are from thirteen (13) drill holes for 7,731.80 m of diamond drilling completed as part of the 76,000 m drill program of resource infill and upgrade drilling for the PFS completed in 2022.

Drilling is being conducted on 50 m centres as step-outs and infill of previous drill holes. An additional 190,000 m resource infill and upgrade drilling program is currently underway. Additional assays are pending and will be released upon receipt of assays.

Infill drilling at Windjammer was focused on infilling and extending the mineral resource located within the current open pit gold resource from surface to vertical depths of up to 500 m below surface at Windjammer. The drill results confirmed continuity of the resource estimate and extended gold mineralization to the west and east, at depth by widths of over 250 m, and to the south. In the northern area of Windjammer Central, drill holes MGH22-330 and MGH22-332 extended mineralization by over 200 m west of the current resource at shallow depths, drill holes MGH22-334 and MGH22-338 extended mineralization by over 250 m east of the current resource and to the south drill holes MGH22-324, MGH22-333, MGH22-335 and MGH22-339 intersected mineralization adjacent to the banded iron formation in an area not previously fully drill tested drilled out extending the mineralization to the south and east by up to 200 m. The drill holes predominantly tested the areas north of the regional banded iron formation units ("BIF") within altered clastic sediments hosting wide stacked extensional quartz vein sets in the Windjammer Central area, located to the south of the main splay of the regional Destor Porcupine Fault zone ("DPFS").

Drill core is oriented and cut with half sent to AGAT Laboratories Inc. (AGAT) for drying and crushing to -2 mm, with a 1.00 kg split pulverized to -75 µm (200#). AGAT is an ISO 17025 accredited laboratory. A 50 g charge is Fire Assayed and analyzed using an AAS finish for Gold.

Samples above 10.00 g/t Au are analyzed by Fire Assay with a gravimetric finish and selected samples with visible gold or high-grade mineralization are assayed by Metallic Screen Fire Assay on a 1.00 kg sample. Moneta inserts independent certified reference material and blanks with the samples and assays routine pulp repeats and coarse reject sample duplicates, as well as completing routine third-party check assays at Bureau Veritas Commodities Ltd.