Kestrel Gold - Announces 2021 Plans and Provides Corporate Update

CALGARY, March 18, 2021 - Kestrel Gold Inc. ("Kestrel" or the "Company") (TSXV:KGC) is pleased to issue an update on corporate activities as well as announce its exploration plans for 2021.

Exploration Plans for 2021:

• At the Sixtymile property, magnetic geophysical surveys followed by prospecting, sampling, and geological mapping will help further define existing low-sulphidation epithermal gold-silver targets in preparation for a potential reverse circulation drill program.
• At the Grabben property, prospecting, sampling, magnetic geophysical surveys, and geological mapping will be used to help define existing intrusion related gold-silver targets in preparation for a potential reverse circulation drill program.
• At the QCM property, a prospecting program focusing on geochemical and geophysical anomalies located on strike to the east and west of the historical drill area, along with resampling of historical core will be conducted with the results of this work used to help plan a potential follow-up program of reverse circulation drilling.

Corporate Activities Update:

• Kestrel has signed contracts with a Yukon-based drill contractor ensuring access to drilling equipment for the potential Grabben and Sixtymile drill programs.
• Class 1 exploration permits for the recently staked claims at Grabben and Sixtymile (see Kestrel's January 4^th, 2021 news release) have been received. These permits allow for preliminary exploration work including drilling and trenching.
• A 2-page information sheet summarizing Kestrel's properties and plans has been prepared and is available on the Company website, click here to view the Company Overview.

"We're very excited for our 2021 exploration programs to commence," commented President and CEO Rob Solinger. "Pending sufficient financing our plans include drilling at QCM, Grabben and Sixtymile. Advancing multiple prospective targets simultaneously will increase the potential for shareholders to participate in a value-creating discovery."

Marty Huber P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Kestrel Gold

Kestrel Gold Inc. is a gold exploration company headquartered in western Canada. The Corporation is focused on gold exploration within the Canadian Cordillera, with an emphasis on hard rock targets located in placer gold mining districts. Kestrel is listed on the TSX Venture exchange under the symbol KGC. Readers are encouraged to refer to the Corporation's website "www.kestrelgold.com" for further information.

Forward-Looking Statements

The information and statements in this news release contain certain forward-looking information. This forward-looking information relates to future events or the Corporation's future performance including exploration activity that could take place on the Corporation's properties or projects. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. The Corporations forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking information.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information contact:

Rob Solinger, President and CEO
Office: (403) 816-2141
Email: rob@kestrelgold.com

SOURCE: Kestrel Gold Inc.