Hanstone Receives Assays up to 43.91g/t Gold and 244 g/t Silver from Bulk Sampling at Doc Property, British Columbia

Hanstone Gold Corp. (TSX.V:HANS) (OTC:HANCF) (FRA:HGO) (the “

Company

” or “

Hanstone

”), is pleased to announce that it has received assay results from its recently completed bulk sampling program at its Doc Property in northwestern British Columbia, previously announced on October 31, 2022.(1)

Sample Pits & Bulk Samples

Assay results from the DOC Zone yielded a high value of 43.91 g/t Au and 244 g/t Ag from a 110.0kg sample from Pit 3E at the Q17 vein, out of a total of three bulk samples taken along an approximately 10-metre long zone on the Q17 vein (see Figure 1 below). The single bulk sample taken at the Q19 zone yielded 7.04 g/t Au and 85 g/t Ag from a 130.0kg sample.

A total of 18 sample pits were opened on the Property, with 17 pits located along the DOC area (Q17/Q22 vein zone) and one pit at the Q19 zone. The bulk sampling component of the program consisted of a series of four (4) bulk samples taken across the Q17 and Q19 vein zones. The specifications and assay results of each sample are shown in the following table (Table 1). Each sample at both the Q17 and Q19 veins consisted of abundant galena and minor pyrite mineralization within 0.5 to 1.0 metre quartz veins, hosted within a broader shear zone and yielded anomalously high gold and silver values. No significant copper or zinc values were encountered.

Table 1. Bulk Sample Gold Assays

Sample ID / Location	Zone	Weight (kg)	Au (g/t)	Ag (g/t)
DOC22-Pit 2E	Q17	50.0	10.38	113
DOC22-Pit 2.5E	Q17	20.0	11.34	149
DOC22-Pit 3E	Q17	110.0	43.91	244
DOC22-Q19 Pit 3	Q19	130.0	7.04	85

The Q17 and Q22 veins clearly coincide with the underground workings, with pits generally exhibiting a similar style of mineralization to that observed within the underground workings. In conjunction with historical drill results, veining and sulphide mineralization appears to be mostly continuous throughout the zone, as well as further along strike to the east.

Figure 1. Bulk Sample Locations at Q17 Zone

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/314e2b41-77fe-45f8-b8a6-ff574ade890e

Assay Method

Analytical results of sampling reported by Hanstone represent rock samples submitted by Hanstone directly to Seacan Labs, an ISO 17025 accredited lab based in Stewart, British Columbia. Bulk samples were coarse crushed and divided into 5 kg samples, dried at 100 °C, crushed to 80% < 10 mesh, split, with 250g pulverised to 85% < 140 mesh. For Au and Ag, 30g pulp was fire assayed with gravimetric finish. For all other elements, pulp samples were digested by aqua regia and run by ICP-OES.

“The Hanstone team is excited with the results from the trenching samples. In conjunction with the drilling results from our successful 2021 program, we feel this verifies that the system indeed goes to depth to the adit level, at minimum. Our ongoing efforts next season at the DOC Zone will be to establish the full extent of the Q17 and Q19 veins. With no major truncating structures identified yet, the system appears to extend further in both strike length and depth. These high-grade samples speak for themselves and could be the potential of something much bigger than first thought,” stated Ray Marks, President & CEO of Hanstone.

About the DOC Gold Project

The DOC Gold Project covers 8 mineral claims covering 1,704 hectares in northwestern British Columbia. The Project is located approximately 70 kilometres north of Stewart, BC, and is accessible by a 45 minute helicopter flight from the helipad located in Stewart, BC. Trails provide excellent access to all major locations on the Property.

Qualified Person

Technical information in this news release has been reviewed and approved by Case Lewis, P.Geo., a "Qualified Person" as defined under NI 43-101 Standards of Disclosure for Mineral Projects.

About Hanstone Gold Corp

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 on 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.

References

1) Hanstone Gold Corp Press Release dated October 31, 2022. “Hanstone Gold Provides Update on Exploration Program at Doc Property, British Columbia”

https://www.hanstonegold.com/news-releases/hanstone-gold-announces-appointment-of-cfo-ay5gg

Ray Marks, President and CEO

For Further Information Contact:

Ray Marks, President+1-(778)-896-7778, [e-mail] visit the Company’s website at www.hanstonegold.com

Forward Looking Statements Disclaimer

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.