Hanstone Gold Provides Initial Results From Bulk Sampling Program on DOC Property in the Golden Triangle of Northern BC

Hanstone Gold Corp. (TSXV: HANS) (FSE: HGO) ("

Hanstone

" or the "

Company

"), is pleased to provide an update on the results from its bulk sampling program conducted in 2021 on its DOC Property, located in northern British Columbia’s prolific Golden Triangle Mineral District. The Golden Triangle hosts three of Canada’s most significant mineral deposits that include Skeena Resources’ Eskay Creek gold & silver deposit, Newmont and Teck Resources’ significant copper-gold-silver Galore Creek Project and Pretium Resources Brucejack gold mine.

Two 1-ton bulk samples were taken from the Doc Property’s Q19 vein, and from the newly discovered TRJC vein. Samples from each vein were crushed and milled to -150 mesh size fraction, with 5 samples retrieved from each bulk sample for analysis. Each sample was analyzed using the metallic screen fire assay at TSL Laboratories and ICP1 Total 4 acid digestion method at SRC Geoanalytical Laboratories in Saskatoon, SK.

Highlighted Results from the analysis are as follows:

• Q19 vein system bulks sample averaged 19.35 g/t Au, 127.00 g/t Ag, and 465.40 ppm Cu.
• TRJC vein system bulk sample averaged 5.73 g/t Au, 89.18 g/t Ag, and 43,580 ppm Pb.

Ray Marks, President & CEO, commented: “The reported high grades and consistency of the bulk sample results are very encouraging – The newly discovered TRJC vein gives confidence that there is a high probability of discovering deep mineralized structures yet to be explored on both the Doc and Snip North Properties”.

Results from all samples analyzed from each bulk samples are listed in Table 1 below.

Table 1: Bulk sampling results (2021)

Bulk SampleVein ID	Sample #	AverageGradeAu (g/t)	AuTotal(g/t)	AverageGradeAg (g/t)	Agtotal(g/t)	AverageGradeCu(ppm)	Cu total(ppm)	AverageGradePb(ppm)	Pb total(ppm)
TRJC	872928		5.7		76.4		93		32600
TRJC	872929		5.9		90		93		36800
TRJC	872930		5.48		83		111		35200
TRJC	872932		4.87		100		90		57900
TRJC	872938		6.7		96.5		99		55400
Q19	872933		17.74		114		431		2010
Q19	872934		19.27		128		468		2240
Q19	872935		19.71		131		489		2260
Q19	872937		21.66		130		471		2230
Q19	872939		18.4		132		468		2070
TRJC average		5.73		89.18		97.20		43,580
Q19 average		19.35		127.00		465.40		2,162

NOTES:

• The TRJC vein is generally oriented North-South, while the Q19 vein is generally oriented East-West.
• Both TRJC & Q19 vein widths are approximately 2m wide on average, including alteration.
• Current plans are to expand the exposure of the veins along strike and at depth in the 2022 field season.
• Assay results from the last three and a half diamond drill holes remain outstanding from the 2021 drill program. Assay labs have advised management to expect results in the near future.

Figure 1: Bulk Sample Locations from the TRJC & Doc Vein Systems

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bd8b6cc4-7de7-404f-91e8-b1680ed33a77

Quality Assurance, Quality Control & Technical Disclosure

The 2021 drilling and exploration was conducted under the supervision of Tyler Fiolleau, P.Geo. and Craig Cubbon, G.I.T., both of Axiom Exploration Group Ltd. Sample analyses were conducted by TSL Laboratories Inc. in Saskatoon, Saskatchewan.

The technical information in this news release has been reviewed and approved by Doug Engdahl, P.Geo. (CEO, Axiom), and Matthew Schwab, P.Geo. (Senior Vice President, Axiom), each of whom is a “Qualified Person” for the Company as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About Hanstone Gold

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn in option in the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.

Ray Marks, President and Chief Executive Officer

For Further Information Contact:

Carrie Howes, Director of Communications, [phone], [e-mail] visit the Company’s website at www.hanstonegold.com

Cautionary Statement Regarding Forward Looking Information:

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events, or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone’s business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner.

Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

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.