Highvista Gold Announces Entering Into LOI

Toronto, September 16, 2022 - Highvista Gold Inc. (TSXV: HVV.H) (the "Company") is pleased to announce that it has entered into a non-binding letter of intent (the "LOI") dated September 8, 2022, with Highvista Capital Corp. ("Highvista") outlining the proposed terms and conditions of a transaction pursuant to which the Company and Highvista plan to effect a business combination that would result in a reverse takeover of the Company by the shareholders of Highvista (the "Proposed Transaction"). The entity resulting from the Proposed Transaction (the "Resulting Issuer") will continue to carry on the business of Highvista. Highvista owns certain alumina silicate exploration and development properties located in British Columbia. The LOI was negotiated at arm's length.

The completion of the Proposed Transaction contemplated by the LOI remains subject to the Company and Highvista entering into a definitive agreement and the receipt of all regulatory and other approvals. The Company will issue a comprehensive press release pursuant to TSX Venture Exchange policies upon execution of a definitive agreement.

The Company is currently in the process of filing the cease trade order revocation application with the applicable security commissions related to the late filing of the March 31, 2019 audited financial statements. There is no assurance that the cease trade order can be revoked or any transaction will be completed as a result of this process. The Company confirms that it has filed all necessary continuous disclosure required by National Instruction 51-102 - Continuous Disclosure Obligations.

For further information, please contact:

Paul Crath,
Interim CEO
Email: paulcrath@gmail.com
Telephone Number: 347-835-9032

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137401