Riley Gold Appoints Ted Wilton to Technical Advisory Committee

VANCOUVER, March 31, 2021 - Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) ("Riley Gold" or the "Company") is pleased to announce the formation of a technical advisory committee (the "Technical Advisory Committee" or "TAC") to provide objective advice and to consult with the Company on their respective areas of technical experience relative to its Nevada-based exploration projects. In conjunction with the formation of the Technical Advisory Committee, the Company is pleased to announce that it has appointed Mr. Dean T. ("Ted") Wilton as its first member.

Todd Hilditch, CEO, commented, "The success of the Company is directly tied to the quality of the people we are able to attract. I have known, and respected, Ted for many years and am extremely pleased to welcome him as the inaugural member of the TAC. The opportunity to draw on Ted's wealth of experience in the mineral exploration field will be invaluable, particularly his experience with reduced intrusion-related gold systems ("RIRG") similar to Riley Gold's Tokop Project. Mr. Wilton has direct practical experience in this style of mineralization and deposit in the Tintina Gold Belt (Alaska) having worked with Kinross Gold at the Ft. Knox Mine as Chief Geologist and with Victoria Gold at the Eagle/Dublin Gulch Deposit (now mine) as Vice-President Exploration."

Mr. Wilton is a senior-level geologist with an extensive range of technical and managerial experience from "greenfields" to advanced-stage mineral exploration, development, and production-related geological programs, primarily for gold and uranium. He is a graduate of the New Mexico Institute of Mining & Technology with a BGS degree in Geology and Mineral Engineering and is a Certified Professional Geologist with the AIPG. In addition to his extensive experience working in the United States, Mr. Wilton has wide-ranging geographic experience including Australia, New Zealand, Russian Far East, Southwest Pacific region, and Latin America. Mr. Wilton has managed exploration programs that discovered eight ore deposits containing more than ten million ounces of gold, in the Jerritt Canyon district of Nevada, Sulphur District, Nevada and in the Eastern Goldfields region of Western Australia.

Tokop Project

Tokop potentially hosts a RIRG system, similar to large mines in the Tintina Gold Belt of central Alaska and contiguous parts of the Yukon. The best known and most economically important of these include the Fort Knox and Pogo gold mines in Alaska and the Eagle Mine of the Dublin Gulch Properties in the Yukon. At Tokop, similarly to those mines, sheeted quartz veins in a multi-phase, reduced, calc-alkaline granitoid intrusive, coupled with widespread hydrothermal alteration, may host gold mineralization of significant potential. Shear-hosted veins have been noted to extend for nearly two kilometers along strike at Tokop. To date, grades within the vein systems sampled ran as high as 34.4 grams per tonne ("gpt") gold and 36.0 gpt silver (historical sampling from previous owners). Limited assay returns of newer sampling (9 out of 120 samples submitted) have returned values greater than 16.0 gpt gold and 70.8 gpt silver. The remaining results of the sampling program will be released upon receipt of all assay data, which is expected in the first week of April, 2021.

About Riley Gold Corp.

Riley Gold is a mining exploration and development company focused in Nevada, USA. The Company's primary focus is on its two cornerstone assets: the Tokop Gold Project located within the Walker Lane Trend and the Pipeline West/Clipper Project located in the Battle Mountain Eureka Trend. Riley Gold's founders and leadership team have a proven track record of maximizing shareholder value during each phase of the mining life cycle: exploration, development, and production.

Qualified Person

This news release has been reviewed and approved by Charles Sulfrian, CPG., Consulting Geologist, of Riley Gold and a 'qualified person', as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The Qualified Person has not completed sufficient work to verify the historic information on Tokop, particularly in regards to the historical drill and chip sample results. However, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of Tokop but may not be representative of expected results.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Todd Hilditch

Chief Executive Officer

Tel: (604) 443-3831

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.

Cautionary statement regarding forward-looking information

Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation (such statements being referred to as "forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements, including statements regarding the exploration program at Tokop, including results of drilling, and future exploration plans at Tokop. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR (www.sedar.com). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.