Edgemont Gold Corp. Completes Phase II Drill Program at Dungate Copper-Gold Porphyry Project, B.C.

A map indicating the location and drill trace of all Phase II drill holes is below:

2022 Drill Hole Location Map

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The first hole of the program, DG22-08, was drilled to a vertical depth of just over 500 metres and tested a hidden intrusive identified by magnetic surveys under overburden to the north of the Quartz Feldspar Porphyry ("QFP") tested during Phase I drilling in 2021. The target is a strong magnetic anomaly with a pronounced central u-shaped depleted magnetic signal. The hole intercepted approximately 350 m of quartz flooded and replaced volcanics with pyrite veinlets coincident with the depleted magnetic signature.

The remaining four holes followed up on drilling in 2021 (including 27 m @ 0.44 g/t Au in DG21-04) that revealed structurally controlled gold mineralization within and proximal to the QFP (see our news release of March 28, 2022). Initial observations from these holes include:

• Hole DG22-09 was collared on a new drill pad 280 m south of hole DG22-08 (see map above) and was drilled at a dip of -50 degrees to a down hole depth of 450 m. This hole intercepted alternating bands of volcanics and QFP with structurally controlled sericite-silica-kpsar alteration with zones of high pyrite concentrations.

• Hole DG22-10 was drilled to a downhole depth of 411 m and tested a depressed magnetic signature on the edge of the QFP that appears to coincide with the gold zones. This hole remained in highly sericitic-clay alteration throughout its length, with zones of intense quartz stockwork with abundant pyrite.

• Hole DG22-11 was drilled to 351 m to test a linear magnetic signature coincident with the edge of a high IP chargeability anomaly, and coincident with a broad zone of anomalous gold intersected in hole DG21-01. This drill hole remained in highly altered QFP and intersected 56 meters of intense quartz-pyrite-magnetite stockwork.

• Hole DG22-12 was drilled to 243 m to test a depleted magnetic signature coincident with the edge of a high IP chargeability anomaly. This hole remained in altered QFP and intersected 20 meters of quartz-pyrite quartz veins. .

As structural gold targets require more precise sampling, assaying will be done on 1.0-1.5m sample lengths instead of the 3.0m sampling protocol used in 2021. Core logging, cutting and sampling is expected to be completed this week; assay results will be reported when received and interpreted.

The technical information contained in this news release has been approved by Joseph Campbell, P. Geo, a Director of Edgemont, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

About Edgemont Gold Corp:

Edgemont is actively exploring the Dungate copper/gold porphyry project located just 6 km southeast of Houston, B.C., in a region with a history of successful mining projects including the Equity Silver Mine, Imperial Metals' Huckleberry Mine, and the more recent gold-silver discovery at Sun Summit Minerals' Buck Project which sits just 7 km to the south.

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Having acquired an interest in its initial claims at Dungate in 2018, the Company now holds five mineral tenures covering 1,582.2 hectares that can be explored year-round by all-season roads. For more information, please visit our website at www.edgemontgold.com.

For further information, please contact:

Stuart Rogers
Chief Executive Officer
Tel: (778) 239-3775
www.edgemontgold.com

Kevin Arias
VP Corporate Development
Tel: (778) 773-4786
E-mail: info@edgemontgold.com

Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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