Phoenix Gold Retains Integral Wealth Securities Ltd. as Market Maker

Vancouver, British Columbia–(March 29, 2021) – Phoenix Gold Resources Corp. (the
“Company”) (TSXV: PXA) is pleased to announce that it has retained Integral Wealth Securities
Ltd. (“Integral”) to provide market-making services in accordance with the policies of the TSX
Venture Exchange (the “Exchange”). Integral will trade shares of the Company on the Exchange
for the purposes of maintaining an orderly market and improving the liquidity of the Company’s

In consideration of the services provided by Integral, the Company will pay integral a monthly
cash fee of $5,500, plus any reasonable costs and expenses it incurs in connection with the
services provided. The Company has retained Integral for an initial 3 month term and thereafter
may be terminated by the Company upon 30 days’ written notice. Integral will not receive shares
or options as compensation pursuant to the agreement. The Company and Integral are unrelated
and unaffiliated entities. However, Integral and its clients may have or may acquire a direct
interest in the securities of the Company.

Established in 2003, Integral is headquartered in Toronto with offices in Vancouver, Calgary, and
Ottawa, and is a member of the Investment Industry Regulatory Organization of Canada
(“IIROC”) and can access all Canadian Stock Exchanges and Alternative Trading Systems. The
capital and securities required for any trade undertaken by Integral as principal will be provided
by Integral.

About Phoenix Gold Resources Corp.

Phoenix Gold Resources Corp. is a mineral exploration and development company, focused on exploration,
development and acquisition of mineral properties. The Company’s Phoenix Gold Project consists of the
Plumas Property and Eldorado, covering approximately 24 hectares, and is located in the Battle Mountain
Mining District, Nevada, which is host to a series of gold mines. The York Harbour Property is 3,900
hectares in area that includes the mine site of past production of copper and zinc at the York Harbour Mine
located in the Bay Islands region of Newfoundland.

For further information:
Andrew Lee
CEO, President and Director
Telephone: 778-302-2257 | Email:

Cautionary Statement Regarding Forward-Looking Information

This news release may contain “forward-looking information” and “forward-looking statements” within
the meaning of applicable Canadian securities legislation. All information contained herein that is not
historical in nature may constitute forward-looking information. Forward-looking statements herein
include but are not limited to statements relating to the expected completion of the Private Placement and
are necessarily based upon a number of assumptions that, while considered reasonable by management,
are inherently subject to business, market and economic risks, uncertainties and contingencies that may
cause actual results, performance or achievements to be materially different from those expressed or
implied by forward-looking statements. Except as required by law, the Company disclaims any obligation
to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on
these forward-looking statements.

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
press release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to
comply with this restriction may constitute a violation of U.S. securities laws.