Kapa Gold Reports on Recent Site Visit to Past Producing High-Grade Blackhawk Gold Mine

Vancouver, British Columbia--(Newsfile Corp. - November 30, 2022) - KAPA GOLD INC. (TSXV: KAPA) ("Kapa" or the "Company") a gold exploration and development company provides the following report from the recent site visit conducted by management and its consulting geologist during October 2022 at the past producing, high-grade Blackhawk Gold Mine ("Blackhawk").

Consulting geologist, Dr. Allan Miller, recently spent three weeks on site at Blackhawk with the prime objective of gaining a detailed understanding of the geology and the mineralization setting on the eastern section of the property. Dr. Miller has identified three phases of intrusive rocks that intruded into the limestone. The consequence of the emplacement of this high temperature intrusive complex into limestone resulted in hydrothermal alteration of the limestone and the intrusive suite. This hydrothermal alteration resulted in copper-bearing skarn formed in the limestone and copper-gold bearing pegmatites and base and precious metal bearing vein peripheral to the intrusive complex.

Previous mining and exploration data along with current geological analysis of Blackhawk reveal a second type of fault-controlled mineralization that is characterized by gold with subordinate silver and base metals. Blackhawk is situated in an arid environment and consequently mineralized fault zones are accented by intense oxidation, hematitization (Figure 1).

Figure 1 - Heamitized Beds in exposed Limestone

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8847/146158_b3696f57b44edb18_001full.jpg

Management was shown many examples of gold, copper, lead, zinc and graphite mineralization while on site and extensive grab samples were collected currently pending assay results.

Additionally, management investigated existing infrastructure and road access to the property which experienced some damage from recent high precipitation and mechcanical weathering in the region. The Company has since engaged an experienced local San Bernadino contrator, Lilburn Corporation to assist with the road rehabilitation and permitting. Lilburn has also undertaken to assist the Company to reopen the underground adits at the old Blackhawk mine in order to better evaluate the structure and mineralization of the past-producing Blackhawk mine and the feasibility of underground diamond drilling.

Obtaining road access permits and completing the necessary road work to gain vehicle access to the historic underground mine is currently our top priority. Following this, Kapa will apply for permits required for surface drilling to locate the skarn-type mineralization. Provisional drill targets will be used for our initial permit application and will be further defined once a drone airborne magnetic survey has been completed.

A third type of mineralization, high-grade limestone, is present on the property. This high purity limestone is similar to currently exploited limestone resources to the west of the Blackhawk property. Evaluation of this mineralization type will be part of the permitting application.

Once the roads and underground adit have been exposed, Kapa will engage a Californian Certified Underground Mining Engineer to undertake a full underground inspection, survey and sample program to determine the viability of underground drilling.

David Paxton, Kapa CEO stated, "There is sufficient information of numerous mineralizing events within the Blackhawk licence, including the past producing, high-grade, underground Blackhawk gold mine as the most obvious in addition to skarn mineralization and high-grade limestone. We intend to fully investigate the historic underground mine in addition to the potential of the skarn mineralization and limestone through extensive drilling, to define and extend these three different types of mineralization."

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 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 cease trade order and the Company's expected timing for filing its financial statements. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the anticipated timing of the securities regulator and the anticipated timing of the Company's auditor in completing its work in connection with the audit of the Company's financial statements. 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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