Visionary Gold Corp. Announces the Discovery of Two New Prospects and Samples 9.07% Copper, 4.15 g/t Gold and 0.09% Cobalt at New Black Rock Prospect

Vancouver, May 5, 2022 - Visionary Gold Corp. (TSXV: VIZ) ("Visionary" or the "Company") is pleased to announce the discovery of two new exploration targets 50 kilometres ("km") northeast of its Wolf Gold Project in Fremont County Wyoming. The Black Rock gold and copper prospect and the Tin Cup copper prospect were identified during Visionary's ongoing regional exploration program and are located on lands purchased from Innovative Exploration Ventures in 2021 (See May 10^th, 2021 Press Release).

"The new Black Rock and Tin Cup prospects are compelling new gold ('Au') and base metals targets," explains Visionary CEO Wes Adams. "Copper (Cu), Gold (Au), and Cobalt (Co) and Nickel (Ni) values found at Black Rock, and Cu values found over a large area at Tin Cup, represent different styles of mineralization than those found at the orogenic Au targets at Wolf and Lewiston-Miz. What's most compelling is that all targets are situated within the same regional structural corridor, which we now know contains Cu and Au and other mineralization 50 km to the northeast."

Visionary has already ramped up field work at these new prospects ahead of the 2022 drill program, which will commence around July 1st. The 2022 drill program includes drill holes planned at the 3km long Lewiston-Miz target, the Wind Hill target, and Wolf Shear targets as well as the new Black Rock target. Additional field work and geophysical surveying is planned at Tin Cup prior to possible drilling in Q3.

Black Rock Prospect

The Black Rock Prospect is located approximately 60km northeast of Visionary's Wolf Gold Project and 13km north of Jeffrey City, WY, within Archean basement rocks of the Wyoming Craton. Significant Au, Cu, and Co values have been identified in soil and rock chip samples along a sheared lithologic contact within pre-Cambrian granite gneiss and magnetite-rich gabbro. A subsequent ground magnetic survey suggests that Cu and Au mineralization is associated with a high magnetic contrast zone which appears to represent a sheared lithologic contact where surface mineralization was discovered. Visionary has staked 35 mining claims and leased 640 acres of land owned by the State of Wyoming at Black Rock, covering a total land position of ​​approximately 1,340 acres.

To date, a total of 52 rock samples and 218 grid soil samples have been analyzed, with select rock samples in the target area listed in Table 1. Sample results ranged from below the detection limit to the high values shown in the table below.

Table 1: Select Rock Chip Samples from Black Rock Prospect

Visionary's Spring 2022 field program at Black Rock, which is already underway, will include detailed structural and lithological mapping, additional ground magnetic surveying and possible electromagnetics surveying to test for extensions of the mineralized structure ahead of drilling planned for later this year.

Figure 1. Black Rock Gold, Copper Soil Anomalies (top right and left), Magnetic Susceptibility Survey (bottom left) and Satellite Imagery (bottom right)

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Tin Cup
The Tin Cup prospect is located approximately 10km west-northwest of Black Rock and comprises a total of 93 claims and one section of state lease land covering an area of ​​2,500 acres. A total of 181 rock samples were collected along trends of observed Cu- and Fe-oxides associated with identified structures at Tin Cup; Copper values ranged from the lower detection limit to 5.61% Cu. The prospect area is situated directly along the North Granite Mountains Fault system; on the northern Tin Cup Springs trend initial results have identified anomalous to 1.04% Cu at surface for 2.5km of east-west strike. To the south, along the northeast trending Red Boy structure, Cu has been sampled in rock outcropping along 2.3km of strike yielding anomalous copper grades up to 5.61% Cu. Mineralization appears in banded chert, jasperoid, and gossans that are bound by granite gneiss, basalt, all with variable magnetite content and visible Cu oxide staining; chalcopyrite has also been observed in less oxidized samples. A ground magnetic survey is in progress which will provide additional information about the underlying structural geology. Field work in 2022 will consist of detailed mapping, grid soil sampling, and geophysical surveying of the area to assess the potential extent of sulfide mineralization prior to drilling.

Table 2. Rock Samples from Tin Cup Area at 0.2% Copper Cut-Off

Figure 2. Wyoming Geologic Map with Locations of Visionary Prospects

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Quality Assurance/Quality Control (QA/QC) Technical Disclosure

Soil Samples QA/QC
Soil samples were collected by hand using long nosed shovels from C horizon soils where possible. Approximately 0.5 kilograms of soil sample was collected; organic material and gravel were removed from the sample. Samples were kept at the Company's secure, locked storage facility until shipped direct to ALS Geochemistry's preparation laboratory in Elko, NV. Soils were then dried at 60 degrees Celsius and sieved to 180 microns (80 mesh). Twenty-five grams of sample is digested with Aqua Regia and analyzed by ICP-MS. Multielement analysis was carried out by ALS Geochemistry of Reno, NV (Code: AuME-ST43), a super trace multielement package that analyzes for 53 elements including Au, platinum ("Pt") and palladium ("Pd").

QA/QC included the following: industry certified standards were inserted into the sample stream along with analytical blank material at the Company's secure facility; sample duplicates were collected in the field. 153 QA/QC samples of 3211 total soil samples were applied to the sample stream, or approximately 5 percent.

References
Hausel, W.D., Sutherland W., 2003. "Geologic Map of The Rattlesnake Hills 30' x 60' Quadrangle, Fremont, and Natrona Counties."

Hausel, W.D., 1982, Field notes and assay report for the Red Boy-Sutherland mine and the Red Boy prospect, Tin Cup district, Fremont County, Wyoming: Geological Survey of Wyoming [Wyoming State Geological Survey] Mineral Report 82-10, 7 p.

About Visionary Gold Corp.
Visionary Gold Corp. is a Vancouver-based mineral exploration company focused on making new precious and base metals discoveries in Fremont County, Wyoming, and developing them in a manner that is beneficial to all stakeholders. While central Wyoming has a strong mining history, it has never been systematically explored using modern techniques. The Company now controls a land package greater than 50 square kilometres with numerous drill ready targets, all accessible by road and within a one-hour drive from Visionary's US headquarters in Lander, Wy.

For further information, please visit the company website at:
www.visionarygoldcorp.com

Contact:
Wes Adams, Chief Executive Officer
Visionary Gold Corp.
410-325 Howe Street
Vancouver, BC V6C 1Z7
Tel: (303) 809-4668

Technical Disclosure Advisory

The scientific and technical information in this announcement as it relates to exploration results at the Black Rock and Tin Cup Prospects is based on information reviewed by Mr. Alan Roberts. Mr Roberts (MSc: Mineral Exploration & Geophysics) is a Senior Consultant to Visionary Gold Corp. and is a Certified Professional Geologist (AIPG: CPG#11260) through the American Institute of Professional Geologists (AIPG), an organization whose members are recognized as Qualified Persons pursuant to NI 43-101. Mr Roberts has sufficient experience in the exploration and development of the style of mineralisation under consideration to act as a Qualified Person as defined in the "NI 43-101 Standards of Disclosure for Mineral Projects, dated June 24, 2011". Mr Roberts consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Mr. Roberts is an independent consultant to the company.

It should be noted that the potential quantity and grade of the exploration targets disclosed in this press release is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource as per the NI 43-101 reporting standards.

Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to analysis of core samples and other plans for Visionary's 2022 exploration program, expectations for the Black Rock and Tin Cup prospects, including expected results from a ground magnetic survey currently in progress, and further drilling and exploration progress. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic and regulatory risks; capital and operating costs varying significantly from management estimates; timing of the provision of services by third parties; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; inflation; fluctuations in commodity prices; delays in the development of projects; and the other risks involved in the mineral exploration and development industry generally. 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 where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.

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.

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