Moneta Announces Appointments of VP Technical Services & Geology, VP Projects, and Director of Field Operations

Toronto, June 28, 2022 - Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta" or the "Corporation") is pleased to announce the appointments of key project delivery team members as it advances the preliminary economic assessment ("PEA") study for its 100% owned Tower Gold project ("Project"), located 100 kilometres ("km") east of Timmins, Ontario. The Project hosts consolidated mineral resources of 4.3 million ("M") ounces ("oz") indicated gold ("Au") and 7.5 Moz inferred Au (see May 11, 2022 press release), positioning Moneta as one of the top advanced gold exploration companies in Canada.

Jason Dankowski - Vice President Technical Services & Geology

Mr. Dankowski has over 15 years of experience at major mining companies, focusing on delivery, integration, optimization, and risk mitigation. Most recently, with Appian Capital Advisory, Mr. Dankowski steered and supported the exploration, geology, and mine planning initiatives, and led technical and financial due diligence on potential investment opportunities worldwide. Prior to Appian, Mr. Dankowski was at Nevada Gold Mines, the Barrick Gold Corp. ("Barrick") and Newmont Corp. ("Newmont") joint venture, as Mineral Resources Manager at the Phoenix Mine, leading the team in ore control, geological modelling, resource and reserve estimation, mine-to-mill reconciliation, strategic mine planning, and near-mine exploration. Before this, Mr. Dankowski was Resource Geology and Growth Lead for De Beers, where he managed the exploration program, resulting in new discoveries and mine life extension at the Gahcho Kué Mine.

Mr. Dankowski is a registered Professional Geologist with an Executive MBA from the Smith School of Business at Queen's University, a Bachelor of Science (BSc) in Geological Sciences from the University of Manitoba, and a Post Graduate Diploma in Applied Geostatistics from the University of Alberta.

Mr. Dankowski will be primarily responsible for establishing and implementing the exploration and technical assessment strategy, and in collaboration with the VP Projects, the mine design and development strategy. Additional responsibilities include preparing and updating NI 43-101 technical reporting, including resource estimates, and mining and development plans.

Gerry Rogers - VP Projects

Mr. Rogers has over 35 years of experience in international mine development, operations, and contract mining with both underground and surface projects. Mr. Rogers was part of the operating team that built the Eskay Creek Mine in Northern British Columbia, Cliffs Mine in the goldfields of Western Australia, and multiple mines in Africa. Moreover, Mr. Rogers has operated over four major mines as the General Manager with a notable focus on safety, unit cost, technology, and volume deliverables. Most recently, Mr. Rogers was Underground Operations Manager at Kinross Gold's Chirano Gold Mines, responsible for operating four underground gold mines and developing two new gold mines.

Mr. Rogers holds a BSc Geological Engineering Degree from the University of Manitoba and is presently a registered Professional Engineer with the Professional Engineers of Ontario.

Mr. Rogers will be primarily responsible for completion of progressive studies, including the PEA, pre-feasibility study ("PFS"), and bankable feasibility study ("BFS"), to bring the Tower Gold project into production.

Stephen McGinn - Director of Field Operations

Mr. McGinn has over 30 years of experience in the field of human resources and health & safety management. Mr. McGinn has worked as VP Human Resources and Health & Safety at Labrador Iron Mines, was VP of Operations of Kivalliq Marine Transportation Services and held senior roles with Dumas Contracting, KLG, and Black and McDonald.

Mr. McGinn holds an Executive Master's Degree in Human Resources Management (MHRM) from York University, Bachelor of Arts (BA) (Law & Sociology) from Laurentian University, and a Law and Security Administration diploma from Cambrian College.

Mr. McGinn will be primarily responsible in the implementation of Moneta's Human Resources and Health & Safety programs and managing the logistical support of the operations. Mr. McGinn will also be responsible for ensuring compliant implemented programs are to Best Industry Standard Practice.

Gary Connor, Moneta's CEO commented, "With over 80 years of combined industry experience, we are very excited to welcome Jason, Gerry, and Stephen to Moneta, further strengthening our project delivery team, as we continue to de-risk Tower Gold and bring it a step closer towards production. We look forward to delivering the PEA which we are currently working on."

About Moneta

Moneta is a Canadian based gold exploration company focussed on advancing its 100% wholly owned Tower Gold project, which currently hosts a gold mineral resource estimate of 4.3 Moz indicated and 7.5 Moz inferred. The Corporation's 2022 drill program is primarily designed to infill and upgrade the resource categories of the mineral resources. An updated PEA study encompassing the entire Tower Gold project is planned to be completed in H2, 2022. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource expansion drilling program, while conducting all business activities in an environmentally and socially responsible manner.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319

Linda Armstrong, Investor Relations
647-456-9223

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetagold.com or email us at info@monetagold.com.

This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Corporation's drilling program and the timing and results thereof and the timing of the Corporation's PEA. Forward-looking statements are subject to inherent risks and uncertainties including without limitation the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19 and the ability of the Corporation to finance and carry out its anticipated goals and objectives. International conflicts and other geopolitical risks, including war, military action, terrorism, trade and financial sanctions, which have historically led to, and may in the future lead to, uncertainty or volatility in global commodity and financial markets and supply chains; the impact of Russia's invasion of Ukraine and the widespread international condemnation has had a significant destabilizing effect on world commodity prices, supply chains, inflation risk, and global economies more broadly, may adversely affect the Corporation's business, financial condition, and results of operations.

Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129299