MAS Gold Corp. Reminder - Rights Offering Expires September 5, 2023

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

SASKATOON, Aug. 28, 2023 - MAS Gold Corp. ("MAS" or the "Company") (TSXV: MAS) reminds holders of the Company's outstanding rights ("Rights") (TSXV: MAS.RT) of important, upcoming deadlines and details for the Rights offering ("Rights Offering") previously announced on June 22, 2023.

The Company announced on June 22, 2023, an offer to shareholders of record on June 30, 2023, Rights to purchase common shares of the Company ("Common Shares"). One Right was issued for each Common Share held. One Right and one cent are required to purchase one Common Share.

Important Details and Reminders

• Rights expire at 5:00 pm (Toronto time) on September 5, 2023.
• You must take action to exercise or sell your Rights.
• Rights can be bought or sold publicly on the TSXV - symbol "MAS.RT".
• Rights will trade on the TSXV until 12:00 p.m. (Toronto time) on September 5, 2023.
• One (1) Right plus the sum of $0.01 entitles the holder to subscribe for one Common Share.
• The rights offering circular is available on SEDAR+ and on the Company's website: www.masgoldcorp.com.

MAS Gold Corp. is a Canadian mineral exploration company focused on advancing its gold exploration projects in the prospective La Ronge Gold Belt of Saskatchewan. MAS Gold is exploring on four properties in the belt, including the Preview-North, Greywacke Lake, Elizabeth Lake and Henry Lake Properties totalling 35,175.6 hectares (86,920.8 acres). These properties extend along the geologically prospective La Ronge, Kisseynew and Glennie Domains that make up the La Ronge Gold Belt in north-central Saskatchewan.

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

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 jurisdiction in which such offer, solicitation or sale would be unlawful.

This release includes forward-looking statements regarding MAS and its business. Such statements are based on the current expectations and views of future events of MAS's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of the failure to complete the rights offering, known and unknown risk factors and uncertainties affecting MAS, including risks regarding the mining and oil and gas industries, economic factors and the equity markets generally and many other factors beyond the control of MAS. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Forward-looking statements speak only as of the date on which they are made, and MAS undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

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.

SOURCE MAS Gold Corp.