Warrior Gold Closes Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES


Toronto, December 24, 2021 – Warrior Gold Inc. (TSX-V - WAR) (“Warrior Gold” or the “Company”) is pleased to announce that further to its press release of December 14, 2021, the Company has closed the previously announced non-brokered private placement with the issuance of 2,500,000 flow-through shares raising $200,000 (the “Private Placement”). The securities issued under the Private Placement are subject to a four month and one day “hold period” pursuant to applicable securities laws. The Private Placement remains subject to final approval of the TSX Venture Exchange (“TSXV”).


The gross proceeds from the sale of the flow-through shares will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's properties located in Kirkland Lake area of Ontario.


The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.


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 date[1]. 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 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 covers 19,350 ha, comprised of 378 unpatented and 29 patented claims, and ranks the Company as one of the largest landholders in the Kirkland Lake region.

For additional information please contact:

Danièle Spethmann, P.Geo.

President & CEO

+1 647 344-3433

dspethmann@warriorgoldinc.com


Daniel Rodriguez

Corporate Development

+1 604 353-4080

drodriguez@warriorgoldinc.com


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 frequently 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. The 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 the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Warrior Gold can give no assurance that they will prove to be correct. Since forward-looking statements address 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 statements in this press release are those set out in the Company’s Management Discussion and Analysis of the financial condition and results of operations for the year ended March 31, 2021 which is 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 update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.


[1] https://mmsd.nrcan-rncan.gc.ca/PDF/MIS2020TableG01a-en.pdf

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