MAS Gold Releases Results From North Lake Hole NL21-055

Includes: 70.0 metre interval of 1.106 grams Gold/tonne

VANCOUVER, BC, May 12, 2021 /CNW/ - MAS Gold Corp. ("MAS Gold") (TSXV: MAS) is pleased to announce the results from hole NL21-055, the fourth of ten holes from the 2021 winter drill program at the North Lake gold deposit on its 100% owned Preview-North Property in the La Ronge Gold Belt, Saskatchewan (see Table 1).

Hole NL21-055 is located approximately 97 metres (m) southwest along strike from previously announced hole NL21-054, which included an interval of 117.2 m grading 1.249 grams gold per tonne (g Au/t) (see Figures 1 & 2,: also see MAS Gold news release dated May 10, 2021).

President and CEO Jim Engdahl comments, "Hole NL21-055 shows the zone of mineralization continues with significant thickness to the southwest. We are excited to see these results ing what is a significant step-out location and we look forward to the remaining results and the updated North Lake Mineral Resource estimate planned for later in 2021."

See Table 2, attached to the end of this news release for a detailed summary of the reported results.

Qualified Person

The scientific and technical information contained in this news release has been prepared, reviewed and approved by David Tupper, P.Geo. (British Columbia), MAS Gold's VP Exploration and a Qualified Person (QP) within the context of Canadian Securities Administrators' National Instrument 43-101; Standards of Disclosure for Mineral Projects (NI 43-101). The 2021 drilling program was conducted under the supervision of Darren Slugoski, P.Geo., of Axiom Exploration Group Ltd.

About MAS Gold Corp.

MAS Gold Corp. is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Gold Belt of Saskatchewan. In the belt, MAS Gold Corp. operates four properties totaling 33, 843 hectares (83, 628 acres), including the Greywacke Lake, Preview-North, Elizabeth Lake and Henry Lake Properties extending along a total of roughly 60 kilometres of the geologically prospective La Ronge, Kisseynew and Glennie Domains that make up the La Ronge Gold Belt.

MAS Gold's holdings include the Greywacke North, North Lake and Point gold deposits and the historically defined Elizabeth Lake copper-gold volcanic-hosted massive sulphide deposit.

The Greywacke North deposit, which hosts multiple known stratabound, high-grade gold-bearing zones, has an estimated 255,500 tonnes at 9.92 g/t Au (cut-off grade of 5 grams gold/tonne) for 81,500 ounces of gold, plus an Inferred Mineral Resource of an estimated 59,130 tonnes at 7.42 g/t Au for 14,100 ounces of gold (NI 43-101 Technical Report, June 1, 2016).

The North Lake deposit located at Preview North Property is estimated to contain an Inferred Mineral Resource of 14,110,000 t grading 0.92 g/t Au, hence 417,000 contained ounces of gold (NI 43-101 Technical Report, April 10, 2020)

MAS Gold Corp.

Jim Engdahl

President & CEO

Caution Regarding Forward-Looking Information and Statements:

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. MAS Gold cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to MAS Gold's limited operating history, the need to comply with environmental and governmental regulations, results of exploration programs on their projects and those risks and uncertainties identified in each of their annual and interim financial statements and management discussion and analysis. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, MAS Gold undertakes no obligation to publicly update or revise forward-looking information.

Neither 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 news release.

SOURCE MAS Gold Corp.