WINDSOR, NS, Feb. 23, 2022 /CNW/ - MLK Gold Ltd. (CSE: MLK) ("MLK" or the "Company") is pleased to announce that it has entered into a purchase agreement of today's date with a group of arm's length parties to acquire certain mineral claims adjoining the Company's Caledonia Brook property located in Newfoundland and Labrador.

As consideration for the claims, the Company will issue an aggregate of 15,000 common shares, which shares will be subject to a 12-month contractual hold period as well as applicable resale restrictions under Canadian securities laws, and will grant a 1% net smelter return royalty over the claims, half of which may be repurchased by the Company at any time for payment of $250,000 in cash.

ON BEHALF OF THE BOARD OF DIRECTORS

s/"Paul K. Smith"

About MLK Gold Ltd.

MLK Gold Ltd. is a Canadian junior exploration company operating in eastern Canada. MLK's current projects are located in Nova Scotia and the island Newfoundland and include: a 100% interest in the Highfield project, located in Nova Scotia, a 100% interest in the Manuels project, located in Newfoundland and a 100% interest in the Caledonia Brook project, also located in Newfoundland.

Forward-Looking Statements

This news release contains certain forward-looking statements, including statements regarding the expected trading date. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. The Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE MLK Gold Ltd.

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