G50 CORP LIMITED — Capital/Financing Update 2021

Nov 7, 2021

GOLD EXPLORATION IN ARIZONA AND NEVADA

Monday 8 November 2021

DRILLING TO COMMENCE FOLLOWING RECEIPT OF BLM PERMIT

• BLM Approval received for Gold 50’s maiden RC drilling at Top Gun Gold-Silver Project

• The 2,000 metre drill campaign is the first program ever conducted at Top Gun

• Drilling designed to test a 1,150m long zone of gold mineralisation, quartz veining and silicification with historic workings

• Drilling to commence at Top Gun third week of November

• Drilling programs also scheduled for Spitfire and Golconda in Q1 2022

• Programs are fully funded

Gold 50 Limited (Gold 50 or the Company) (ASX: G50), is pleased to announce an RC drill rig has been confirmed, Bureau of Land Management (BLM) approval has been granted and drilling is due to commence at the Company’s Top Gun gold-silver project in Nevada imminently.

The drilling program at Top Gun is the first part of a broader 3-project campaign, which will also see commencement of drilling at the Spitfire, followed by our flagship Golconda project in Arizona in Q1 2022.

Nevada

Gold 50 has executed a drilling contract with Midnight Sun Drilling. Drilling will commence initially at Top Gun Gold-Silver Project ( Top Gun ) with a 2,000 metre RC drilling programme planned to test a 1,150 metre long zone of gold mineralisation, quartz veining and silicification with historic workings. Top Gun has never been drill tested.

Following the completion of Top Gun drilling, the rig will be mobilised to the Spitfire Gold-Silver Project ( Spitfire ). A 3,500 metre campaign is planned to test high priority targets identified by recent rock chip sampling and surface mapping following a review of TSX-listed Kinross Gold Corporation’s extensive historical exploration database.

As previously announced on 25th August 2021, thirty-eight of these samples contained more than 1g/t gold and averaged 23.2g/t gold and 38.3g/t silver . Twenty-one rock chip samples collected by Gold 50 contained more than 10g/t gold and averaged 35g/t gold and 75g/t silver; best sample returned 88.9 g/t gold . (Figure 1.)

The Company is well financed to complete the planned exploration activities over the next two years post its August 2021 IPO.

Gold 50 Limited

gold50.com | ASX:G50

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Gold 50’s Managing Director, Mark Wallace, commented:

“We are excited to announce the imminent commencement of our maiden drilling program at our Nevada projects. The Top Gun program will be the start of a continuous campaign of drill testing our high priority targets across our portfolio of quality gold and silver projects in Nevada and our flagship Golconda project in Arizona.

Gold 50 is well financed to complete planned exploration activities over the next two years following our IPO in August 2021, and we look forward to keeping shareholders abreast of our progress.”

This announcement has been approved for release by the Board of Gold 50.

For enquiries:

Mark Wallace Dannika Warburton Managing Director Principal Gold 50 Limited Investability Partners queries@gold50.com info@investability.com.au + 61 2 8355 1819 +61 401 094 261

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Figure 1: Spitfire Project, Nevada - Residual reduced to the pole (“RTP”) ground magnetics with interpreted fault structures, all prior drilling and rock-chip samples collected > 0.5g/t gold. The magnetic anomalies (red-yellow-green areas) are caused by a diorite sill that is interpreted to be closely related to mineralisation.

gold50.com | ASX:G50

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Figure 3: Gold 50 Project Map

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on information from the ground magnetic survey compiled by Wade Johnston, a Competent Person who is a Certified Professional Geologist licensed by AIPG. Wade Johnston is a consultant to Gold 50 who has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Johnston consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to previous mining and/or exploration work is based on information included in the Company’s Prospectus dated 21 May 2021. The Company confirms that it is not aware of any new information or data that materially affects the information included within the Prospectus dated 21 May 2021.

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ABOUT GOLD 50

Gold 50 (ASX: G50) is a precious metals exploration company focussed on discovery in Arizona and Nevada, USA.

Gold 50’s strategic intent is to rapidly define and progress exploration targets, leveraging the Company’s board and management’s track record of discovery in the Southwest USA.

Gold 50’s flagship asset is the Golconda Project in the Wallapai Mining District of Arizona, where the Company has consolidated a historical mining district adjacent to a major copper-molybdenum porphyry deposit and known for its extensive mineralised veins containing unusually high precious metals grades. Gold 50 is also exploring a portfolio of high-quality gold projects - Spitfire, Caisson, Broken Hills and Top Gun - in the Walker Lane Trend of Nevada, a prolific yet relatively underexplored region that stands out for its exceptional high gold grades and growing reserves.

Gold 50 listed on the Australian Securities Exchange on 6 August 2021 and has a strongly supported register of institutional and mining investors.

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