Shipment term

Damara Gold Announces Completion of Final Drill Core Sample Shipment

TheNewswire – January 21, 2022 – DAMARA GOLD CORP. (TSXV: DMR) (“Damara“or the”Society”) is pleased to announce that the latest shipment of drill core samples from its 2021 drill program on its Placer Mountain project south of Princeton, British Columbia (“Placer mountain“or the”Property”) have now been received by MSALABS in Langley, BC. Sample shipments were prepared in batches, with the first shipment being made in mid-December. Analyzes for the initial shipment are expected to be received in the near future, while results for the remaining samples are expected to be received by the end of February. Coring and sampling were briefly delayed due to a rare flood in the local town of Princeton, which is not expected to materially impact the Company’s exploration activities in the future. 1,061 meters were drilled from 10 holes in the main zone and 709 meters were drilled from 8 holes at the new Kodiak zone, for a total of 1,770 meters of drilling in 18 holes on the property.

For more information on the Company’s recently completed 2021 drilling program, please see the Company’s press release dated December 22, 2021.

Larry Nagy, CEO, commented “We are pleased to have completed our final shipment of drill core samples to MSALABS as we eagerly await the results of this year’s program and look to plan our exploration activities for 2022.

Qualified person

Dr. Gerald G. Carlson, PhD, PEng, Technical Advisor to the Company, is the Qualified Person as defined by NI 43-101 who has reviewed and approved the technical data contained in this report.

About Damara

Damara Gold Corp. is a TSX Venture Exchange-listed mineral exploration company actively focused on exploring the Placer Mountain gold property, located in Princeton, British Columbia, owned by a 75%/25% joint venture with Universal Copper Ltd. Damara’s Board of Directors is experienced in the mineral exploration industry with extensive successful international experience.

ON BEHALF OF THE DAMARA BOARD OF DIRECTORS

“Larry Nagy”

Larry Nagy, General Manager

For more information, visit the Damara website at www.damaragoldcorp.com or contact:

Damara Gold Corp.

Larry Nagy

Chief executive officer

Ph: (250-241-5692)

Disclaimer for forward-looking information

This press release contains statements that constitute “forward-looking information”, as that term is used in applicable Canadian securities laws. This forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. information search. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”. , “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “should”, “could”, “might” or “should” occur.

Although the Company believes that the forward-looking information contained in this press release is reasonable based on information available as of the date hereof, by its nature, forward-looking information involves known and unknown assumptions and risks, uncertainties and other factors that may cause our actual results. , level of activity, performance or achievements, or other future events, may differ materially from any future results, performance or achievements expressed or implied by such forward-looking information.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that the Company maintains good relations with the communities in which it operates or proposes to operate, future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or the inability to access sufficient capital on favorable terms; the mining industry and markets in Canada and generally; the Company’s ability to implement its business strategies; competetion; the risk that any of the assumptions prove to be invalid or unreliable, which could lead to delays or stoppage of planned work, risks associated with data interpretation, geology, grade and continuity of deposits minerals, the possibility that results will not be consistent with the Company’s expectations, as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to the Company, including as set forth in the Company public disclosure documents filed on the SEDAR website at www.sedar.com.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS DAMARA’S EXPECTATIONS AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT ATTACK UNBIDDEN IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY ON SUCH INFORMATION AS OF ANY OTHER DATE. ALTHOUGH DAMARA MAY CHOOSE, IT DOES NOT COMMIT TO UPDATING THIS INFORMATION AT ANY PARTICULAR TIME, EXCEPT AS REQUIRED UNDER APPLICABLE LAW.

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.