MTU Manitou Gold Inc

Manitou Gold Inc. (TSXV: MTU) (the “Company” or “Manitou”) announces that it has issued an aggregate of 16,450,000 stock options (“Options”) to officers, directors and service providers of the Corporation, effective July 12, 2021. An aggregate of 11,050,000 of the Options have been granted in replacement of pre-existing stock options of the Company which expired on July 9, 2021. Each Option entitles the holder to acquire one common share of the Corporation at an exercise price of $0.10 until July 12, 2026. All such Options vest immediately.

For further information on Manitou Gold Inc., contact:

Richard Murphy, President and CEO

Telephone: 1 (705) 698-1962

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.