Winston Gold Produces First Gold and Silver Concentrate and Ramps up Underground Mining Rate

WINNIPEG, February 5, 2021 - Winston Gold Corp. ("Winston Gold" or the "Corporation") (CSE:WGC)(OTCQB:WGMCF) is pleased to announce that it has produced its first concentrate from low-grade stockpiles at the Paradine Mill Facility, near Radersburg MT. In addition, underground development work at its wholly-owned Winston Gold Mine, near Helena, Montana. has allowed mining operations to increase to a rate of 120 tpd, or 3,000 tons per month.

During January, the Paradine mill facility was run continuously over a period of six days. The mill hired and trained five new employees and rotated two, three-man crews, to work 12 hour shifts during this period. A total of 752.47 tons of low-grade mineralized material was processed with an average head grade of 0.05 oz per ton (opt) gold (1.75 g/t gold) and 0.78 opt silver (26.85 g/t silver). The mill produced 7.43 tons of concentrate (wet) with an average grade of 1.73 opt gold (59.42 g/t Au) and 30.52 opt silver (1,046.43 g/t Ag).

The mill also recovered 1,050 lbs of gravity concentrate with an average grade of 6.76 opt gold (231.77 g/t Au) and 14.81 opt silver (507.91 g/t Ag). Detailed results of the Mill's test-run can be viewed in the table below.

"In just less than six months our team has managed to rehabilitate and update the Paradine Mill Facility to a stage where we can now produce concentrate," commented Murray Nye, CEO and Director of Winston Gold. "The Crusher, Ball mill and Knelson concentrator have already seen huge improvements in efficiency. During this initial 'bedding-in' process we continue to use lower-grade mineralization from the mine-site to optimize the mill circuits and processes."

Future upgrades at the Paradine Mill Facility also include, a soon to be operational Wilfley Table, which will enable fine particles to be processed to improve overall gold and silver recoveries from the gravity circuit. In addition, construction of Settling Pond #2 has begun, and the foundation work is about one third complete.

The last significant upgrade to be installed at the Mill is a filter press. It will eliminate the labor-intensive process of recovering flotation concentrates from the leaf filter and improve safety. Once the filter press is operational, Winston plans to run the Paradine Mill 24 hours a day, 6 days a week to process the high-grade stockpile from the Winston Gold Mine.

"Barring any unforeseen issues, I believe the company will be mining and milling high grade gold and silver from the Custer and Parallel veins at a rate of 150 tpd by May 2021," stated Mr. Nye.

Mill Test Run Results

Underground Development Update
Winston has been developing what is referred to as an I-drift above the 4637 level along a 200 ft section the Custer West vein. The I-drift represents the first phase of the stoping process which allows the miners to increase the mining rate. Two headings have been mining the mineralized Custer West vein system at opposite sides at a combined rate of 90 tons per day. A secondary I-drift is now being developed along the Parallel West Vein system. This will bring the total daily mining rate to 120 tons. Once the I-drifts are completed back-stoping will commence to access higher levels of both vein systems.

In accordance with mining safety laws, Winston Gold has also been developing a raise to be used as a secondary escapeway from its current underground workings. The raise was collared on the 4637 ft level and will break into the historic Edna workings 167 ft. (51 metres) above.

"Since the Edna workings require only minor rehabilitation, they provide us with a safe and efficient breakthrough point for the escapeway and ventilation raise," stated Mr. Nye.

The raise will be permanently timbered, and have safety landings along the ladders, in accordance with MSHA (Mine Safety and Health Administration) standards since the raise is only five degrees off the vertical.

About the Paradine Mill Facility
The Paradine mill located just 35 miles (56 km) by paved road from the Company's wholly owned Winston Gold project which is situated near Helena, Montana. The Mill has a nameplate capacity of 150 tons per day and hosts a ball milling circuit as well as both a gravity and flotation circuit. A new lined settling pond has been constructed for tailings disposal with a 35,000-ton capacity and two additional ponds are also being built.

Qualified Person
The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Dr. Criss Capps PhD. P.Geol., an independent consultant to Winston Gold Corp. Dr. Capps is a Qualified Person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Winston Gold
Winston Gold is a junior mining company focused on advancing high-grade, low-cost mining opportunities into production. Towards that end, the Corporation has acquired the under-explored and under-exploited Winston Gold project near Helena, Montana.

The CSE has neither approved nor disapproved the information contained herein. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Winston Gold Mining Corp. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

For more information, please visit www.winstongoldmining.com; or contact:
Murray Nye,
Chief Executive Officer and a Director of Winston Gold
Suite 201-919 Notre Dame Avenue
Winnipeg, Manitoba, R3E 0M8
Telephone: (204) 989-2434
E-mail: murray@winstongold.com

SOURCE: Winston Gold Corp.