Kapa Gold Provides Update on Blackhawk Sampling Program

Vancouver, British Columbia--(Newsfile Corp. - February 22, 2023) - KAPA GOLD INC. (TSXV: KAPA) ("Kapa" or the "Company") is pleased to provide the following update on recent geological mapping and sampling at its 100% owned Blackhawk property.

Kapa has received the final report summarizing an extensive geological mapping and rock sampling program undertaken on the Blackhawk project, Lucerne Valley, California (Figure 1). This program took place during October 2022 and was focused on areas distant from the property's historic underground precious metals workings which are located on patented claims (Figure 1).

Figure 1. Areas investigated during the 2022 exploration program, Blackhawk property.

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The areas investigated were the Partin Quarry area and the Mill Site area, (Figure 1). Sixty nine rock grab samples were collected, with over 80% returning enhanced to highly anomalous abundances of ore related elements. All samples were analyzed for 53 elements by ICP at ALS Labs in Vancouver.

Grab samples from outcrops in the reclaimed Partin Quarry area and historic prospects and outcrops-sub crops with secondary minerals across the Mill Site area returned highly significant precious and base metal concentrations: some samples returned greater than 25 grams per tonne gold, greater than 100 grams per tonne silver, and values of copper, lead and zinc greater than 1%. The Company is proceeding with check assays for all samples with metallic abundances greater than the upper detection limit. Of particular note, several samples returned highly anomalous values of tellurium and indium, both of which have been deemed strategic metals by the US Government. Samples with anomalous precious and base metal abundances extend from the western end of the Mill Site area to the eastern most claims of the Blackhawk property. These mineralized samples confirm that the mineralized trend extends eastward from the historic workings for a distance of approximately 4.5 km (Figure 2).

Figure 2. Distribution of enhanced to highly anomalous grab samples collected during the October 2022 exploration program (image from Google Earth, 2023).

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The lithostructural setting of mineralization along the Mill Site area is similar to that observed at the historic workings and reported within the Company's National Instrument 43-101 report for the Blackhawk property filed on SEDAR on May 16, 2022. The Partin Quarry area findings provide unequivocal geological and geochemical evidence for both skarn mineralization and manto-style carbonate replacement (CRD). Both the skarn and CRD geological settings represent new geological models for exploration on the Blackhawk property. Utilizing this newly acquire geological and geochemical data, the Company has initiated a detailed drone magnetometer survey over the Partin Quarry and Mill Site areas in order to define prospective intrusion-carbonate contacts.

Further information will be provided when the drone surveys can be correlated with the geology and mineralized zones.

As previously reported, Kapa is proceeding with its environmental consultants to obtain permitting to re-habilitate existing roads to enable access to historic workings on the Lookout to Santa Fe patent claims. Once the permitting has been approved, the Company will re-open the historic underground workings for further investigation.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Dr. Allan Miller, PhD., P.Geo., Consultant and Senior Geologist of Kapa Gold Inc, a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Kapa

Kapa Gold, led by an experienced capital markets and geologic team, is focused on exploring its 100% owned historic Blackhawk Gold Mine and surrounding underexplored properties for economic mineralization.

To learn more, visit www.kapagold.com .

On behalf of the Board of Directors

KAPA GOLD INC.

"David K. Paxton"
CEO and Director

For More Information Contact:

Konstantine Tsakumis
[email protected]
604-961-9442

Neither the 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.

Forward Looking Information

Certain statements made, and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would" and include statements regarding the anticipated future exploration work on the Blackhawk property. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the availability of contractor's to complete the proposed exploration work. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guaranteeing of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

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