Kestrel Gold – Announces CEO is Stepping down for Health Reasons, Appointment of New CEO and Settlement of Debt

CALGARY, August 15, 2024 - Kestrel Gold Inc. ("Kestrel" or the "Corporation", TSXV:KGC) announces Rob Solinger CEO, and Director of Kestrel Gold Inc will be stepping down for health reasons. Pat Lynch, currently a director and member of the audit committee has been appointed CEO effective August 19, 2024.

The Corporation has entered into a debt settlement agreement with Rob Solinger to settle management fees in the amount of $52,963 by the issuance of 1,765,433 Common Shares at a deemed price of $0.03 per Common Share. The debt settlement agreement is subject to acceptance by the TSX Venture Exchange.

Settlement of the debt owing to Rob Solinger will leave Kestrel with no debts and approximately $170,000 of positive working capital.

Kestrel would like to take this time to thank Rob for his honesty, integrity and dedication to the company and it extends its best wishes to him and his family during this difficult time.

About Kestrel Gold

Kestrel Gold Inc. is an exploration company headquartered in western Canada and focused on the Canadian Cordillera. Kestrel owns both a 100% interest in the QCM Property which is an orogenic gold target located in the Manson-Germanson placer district and in the King Solomon's Dome Property which is an orogenic gold target located in the Yukon portion of the Tintina Gold Belt. Kestrel is listed on the TSX Venture exchange under the symbol KGC. Readers are encouraged to refer to the Corporation's website "www.kestrelgold.com" for further information.

Forward-Looking Statements

The information and statements in this news release contain certain forward-looking information. This forward-looking information relates to future events or the Corporation's future performance including exploration activity that could take place on the Corporation's properties or projects. This forward-looking information is subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking information. The Corporation's forward-looking information is expressly qualified in its entirety by this cautionary statement. Except as required by law, the Corporation undertakes no obligation to publicly update or revise any forward-looking information.

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.

For further information contact:

Pat Lynch, Director
Office: (403) 660-3329
Email: pat@kestrelgold.com

SOURCE: Kestrel Gold Inc.