JZR Gold Announces Offering of Convertible Debentures to Raise Gross Proceeds of up to $1,500,000

Vancouver, June 21, 2024 - JZR Gold Inc. (TSXV: JZR) (OTCQB: JZRIF) (the "Company" or "JZR") announces that it intends to undertake a non-brokered private placement offering of convertible debentures (the "Debentures") to raise gross proceeds of up to $1,500,000 (the "Offering"). The principal sum of each Debenture will be $1,000. The Debentures will bear interest at a simple rate of ten percent (10%) per annum and will mature on the date that is one (1) year from the date of issuance (the "Maturity Date"). The principal amount of the Debentures may, at the election of the holders and at any time prior to the Maturity Date, be converted into units of the Company (the "Conversion Units") at a conversion price of $0.20 per Conversion Unit. Each Conversion Unit shall be comprised of one common share (each, a "Conversion Share") in the capital of the Company and one share purchase warrants (each, a "Conversion Warrant"). Each Conversion Warrant shall entitle the holder to acquire one Conversion Share at a price of $0.25 per Conversion Share for a period of twenty-four (24) months from the date of issuance. The Debentures, Conversion Units, Conversion Shares, Conversion Warrants, Conversion Warrant Shares are collectively referred to herein as the "Securities".

The Company intends to use the net proceeds of the Offering for development expenditures on the Vila Nova gold project located in the State of Amapa, Brazil and for general working capital purposes.

The Offering is subject to certain conditions including, but not limited to, receipt of TSX Venture Exchange ("Exchange") approval. The Debentures, and any Conversion Shares issuable upon the conversion thereof, will be subject to a statutory hold period of four months and one day from the date of issuance. Closing of the Offering is expected to occur on or about July 20, 2024.

In connection with the Offering, the Company may pay a finder's fee, in cash, to registered persons in an amount equal to 6% of the gross proceeds raised from persons introduced by the finder.

The Debentures will be offered pursuant to one or more prospectus exemptions set out under applicable securities laws and instruments, including National Instrument 45-106 - Prospectus Exemptions. The Offering will also be made available to existing shareholders of the Company who, as of the close of business on June 18, 2024, held common shares (and who continue to hold such common shares as of the closing date), pursuant to the existing shareholder exemption set out in BC Instrument 45-534 Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders (the "Existing Securityholder Exemption"). The Existing Securityholder Exemption limits a shareholder to a maximum investment of CAD$15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption which exceeds the maximum amount of the Offering, the Company intends to adjust the subscriptions received on a pro-rata basis.

Certain Insiders (as such term is defined under the policies of the Exchange) of the Company may participate in the Offering. Any participation of Insiders in the Offering will constitute a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). It is anticipated that the Company will be able to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Offering by Insiders will not exceed 25% of the fair market value of the Company's market capitalization.

For further information, please contact:

Robert Klenk

Chief Executive Officer

rob@jazzresources.ca

Forward-Looking Information

This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information in this press release includes all statements that are not historical facts, including, without limitation, statements with respect to the details of the Offering, including the proposed size, timing and the expected use of proceeds and the receipt of regulatory approval for the Offering. Forward-looking information reflects the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These factors include, but are not limited to: the Company may not complete the Offering; the Offering may not be approved by the TSX Venture Exchange; risks associated with the business of the Company; business and economic conditions in the mineral exploration industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks related to inaccurate geological and engineering assumptions; risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with the specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action and unanticipated events related to health, safety and environmental matters); risks related to adverse weather conditions; political risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with the Canadian securities regulators. The forward-looking information contained in this press release is expressly qualified in its entirety by this cautionary statement. The Company does not undertake to update any forward-looking information, except as required by applicable securities laws.

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 press release.

None of the securities of JZR have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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