Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce the results of the Company’s Special Meeting of Shareholders held Monday, April 17th (the “Meeting”). A total of 56,246,741 common shares of the Company (the “Common Shares”) were represented at the Meeting, representing approximately 47% of the total number of issued and outstanding Common Shares. The Meeting was held in connection with Warrior Gold’s planned acquisition of the Lucky Strike project (the “Lucky Strike Property”) located in Kirkland Lake, Ontario from New Found Gold Corp. (“NFG”) as more particularly described in the Company’s press release of February 22, 2023 (the “Acquisition”).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230418005617/en/

Map 1 – Combined land package, approximately 36,300 hectares (363 km2)1 (Graphic: Business Wire)

At the Meeting, all resolutions were approved close to unanimously, including: (1) the approval of a name change; (2) the consolidation of the Common Shares on the basis of four pre-consolidation Common Shares for one post-consolidation Common Share; (3) the approval of NFG as a new control person of the Company; and (4) all four management nominees to the board of directors, to be appointed upon completion of the Acquisition. The resolutions will come into effect on closing of the Acquisition.

Danièle Spethmann, President and CEO of Warrior Gold stated: “The overwhelming support received from shareholders for the acquisition of the Lucky Strike Property paves the way towards finalization of this transformative transaction. The consolidation of Warrior Gold’s Kirkland Lake properties with the Lucky Strike Project will create a highly prospective land package in a renowned mining district (see Map 1). We look forward to closing the acquisition in the coming weeks.”

Scientific and Technical Information

All scientific and technical information set forth herein has been reviewed by Susan Lomas, Warrior’s Principal Technical Advisor, and a “qualified person” as defined under National Instrument 43-101.

About Warrior Gold Inc.

Warrior Gold is a TSX Venture Exchange-listed company that has consolidated significant and prospective land packages in the Kirkland Lake Gold Camp in Ontario, Canada. The properties are hosted in the Abitibi Greenstone Belt, one of the world’s best-endowed greenstone belts with +200 million ounces of gold produced to date2. The properties are host to regional and property-scale mineralized structures that are considered to be second order structures off the Larder Lake Cadillac Deformation Zone – LLCDZ – the regional structure in the belt known to be spatially associated with the gold mines hosted in the camp.

The properties assembled include: the 100%-owned Goodfish-Kirana, the Arnold property and the optioned KL West (KLW) and KL Central (KLC). Warrior Gold’s land position in the Kirkland Lake Gold Camp comprises approximately 25,000 ha, over 617 claims and 29 patented claims and ranks the company as one of the largest landholders in the Kirkland Lake region.

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The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved the contents of this news release.

Neither 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Warrior Gold’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the completion of the Acquisition, regulatory approval, and the parties’ ability to satisfy closing conditions and receive necessary approvals. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Warrior Gold and NFG. Although such statements are based on reasonable assumptions of Warrior Gold’s management, there can be no assurance that the Acquisition will occur, or that if the Acquisition does occur, it will be completed on the terms described in the Company’s press release dated February 22, 2023.

Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of all necessary regulatory approvals and satisfaction of other conditions to the completion of the Acquisition, availability of necessary financing, potential mineralization on the Lucky Strike Property, and other similar matters. While Warrior Gold considers these assumptions to be reasonable based on information currently available to them, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks, title and environmental risks.

The forward-looking information contained in this release is made as of the date hereof, and Warrior Gold is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

____________________________ 1 Data compiled by DigiGeoData Inc. from the Government of Ontario Mining Lands Administration System (MLAS) 2 https://www.agnicoeagle.com/English/exploration/exploration-projects/Kirkland-Lake-project/default.aspx

For additional information please contact:

Danièle Spethmann, P.Geo. President & CEO Warrior Gold Inc. +1 647 344-3433 dspethmann@warriorgoldinc.com

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