Warrior Gold Announces $500,000 Offer

TORONTO / June 20, 2022 / Business Wire / Warrior Gold Inc. (TSX-V – WAR) (“Warrior Gold” or the “Company”) is pleased to announce a non-brokered private placement to raise up to $500,000 through the issuance of a combination of common share units (the “Units”) and flow-through share units (theFT units“) of the Company at a price of $0.05 per Unit and $0.07 per FT Unit (the “Offer”). Each unit will consist of one common share and one-half common share purchase warrant (each whole common share purchase warrant, one “To guarantee”), and in the case of FT Units, one Flow-Through Share and one Warrant (as defined above). Each warrant will entitle its holder to purchase one additional common share in the capital of the Company for a period of 12 months from the closing date of the placement, at a purchase price of $0.10 per common share , provided however that if , at any time after the statutory four-month hold period, the closing price of the common shares of the Company on the TSX Venture Exchange is greater than $0.20 for 20 consecutive trading days or further, the warrants will be accelerated and expire on the 30e business day following the date of such notice.

The Company may pay finder’s fees on a portion of the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued under the Offering will be subject to a four month and one day “hold period” under applicable Canadian securities laws.

The placement is subject to the approval of the TSX Venture Exchange.

Proceeds from the sale of Units will be used by the Company for working capital and general corporate purposes and proceeds from the sale of FT Units and charitable FT Units will be used by the Company to incur “Exploration in Canada” which will be considered “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) in respect of the Company’s properties located in Kirkland Lake, Ontario.

About Warrior Gold Inc.

Warrior Gold is a TSX Venture Exchange listed company that has consolidated a significant and prospective land package in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are located in the Abitibi greenstone belt, one of the best endowed greenstone belts in the world with over 200 million ounces of gold produced to date.1. The properties host regional and property-scale mineralized structures that are considered second-order structures offshore of the Larder Lake Cadillac Deformation Zone – LLCDZ – the regional belt structure known to be spatially associated with the gold mines housed in the camp.

The properties assembled include: the 100% owned Goodfish-Kirana property, the Arnold property and the recently acquired options KL West (KLW) and KL Central (KLC). Warrior Gold’s land position in the Kirkland Lake gold camp comprises approximately 21,469 ha, over 480 claims and 29 patented claims and ranks the company among the largest landowners in the Kirkland Lake area.

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

Forward-looking statements

This press release contains forward-looking statements. Forward-looking statements are often characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on certain key expectations and assumptions made by the Company. Although Warrior Gold believes that the expectations and assumptions on which forward-looking statements are based are reasonable, undue reliance should not be placed on forward-looking statements, as Warrior Gold cannot guarantee that they will prove to be accurate. deal with future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks that may affect the forward-looking statement The information contained in this press release is that presented in the company’s management report on financial condition and results of operations for the year ended March 31 2021 and the third quarter ended December 31, 2021, which are available at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof, and Warrior Gold undertakes no obligation to publicly update or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

1 https://mmsd.nrcan-rncan.gc.ca/PDF/MIS2020TableG01a-fr.pdf



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