/CORRECTION from source — Moneta Gold Inc./

In the press release, Moneta Gold announces 10 million Canadian dollars Bought Deal Private Placement of Issued Flow-Through Shares 28-Jul-2022 by Moneta Gold Inc. on CNW, we are informed by the company that the numbers in the first paragraph have been updated. The complete and corrected version follows:

Moneta Gold Announces C$10 Million Bought Deal Private Placement of Flow-Through Shares

/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR BROADCAST DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO UNITED STATES./

Symbol: TSX: ME

TORONTO, July 28, 2022 /CNW/ – Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) (“Moneta Gold” or the “Company”) is pleased to announce that it has entered into an agreement with Stifel GMP to act as lead underwriter for and on behalf of a syndicate of underwriters (collectively, the “Subscribers“), in a “bought deal” private placement consisting of 4,200,000 common shares of the Corporation which qualify as “flow-through shares” (as defined in subsection 66(15) of the income tax (Canada)) (the “Flow-through shares“) at the price of CA$2.40 per flow-through share for total gross proceeds of C$10,080,000 (there “OfferIn addition, the Company has granted the underwriters an option to purchase an additional 840,000 Flow-Through Shares on the terms described above for additional aggregate gross proceeds of up to approximately C$2,016,000exercisable up to 48 hours before the closing of the Offer.

The gross proceeds of the offering will be used to incur qualifying “Canadian exploration expenses” which will be considered “flow-through mining expenses”, as both terms are defined in income tax law (Canada) (the “Eligible expenses”) related to the Company’s Tower Gold project in Ontario on or before December 31, 2023 and waives Eligible Expenses to purchasers of Flow-Through Shares on or before December 31, 2022.

The Offer is scheduled to close on or about August 18, 2022 and is subject to certain conditions, including, but not limited to, obtaining all necessary regulatory and other approvals, including the approval of the Toronto Stock Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy securities of United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”), or any state securities law and may not be offered or sold in United States or to or for the account or benefit of a US Person (as defined in Regulation S of the US Securities Act) unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.

About Moneta Gold
Moneta is a Canada-based gold exploration company focused on advancing its 100% owned Tower Gold Project, which currently hosts a gold mineral resource estimate of 4.3 Moz Indicated and 7.5 Moz Inferred. The Company’s 2022 drilling program is primarily designed to fill and upgrade the Mineral Resource resource categories. An updated PEA study encompassing the entire Tower Gold project is expected to be completed in the third quarter of 2022. Moneta is committed to creating shareholder value through strategic capital allocation and focusing on the current resource upgrade drilling, while conducting all activities in an environmentally and socially responsible manner.

The Company’s public documents may be viewed at www.sedar.com. For more information about the Company, please visit our website at www.monetagold.com or email us at [email protected]

This press release contains certain forward-looking information and statements, collectively “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements are frequently identified by words such as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to to future events and results. Forward-looking statements include, but are not limited to, information regarding the company’s future performance, operations, and financial performance and conditions, such as the Company’s drilling program, timing and results thereof. ci and the Company’s PEA schedule. Forward-looking statements are subject to inherent risks and uncertainties, including, without limitation, the impact of COVID-19-related disruptions to the Company’s business operations, including its employees, suppliers, facilities and others. stakeholders; the uncertainties and risks that have arisen and may arise in connection with travel, and other financial and social market impacts of COVID-19 and responses to COVID 19 and the Company’s ability to fund and perform its planned goals and objectives. International conflicts and other geopolitical risks, including war, military action, terrorism, trade and financial sanctions, which have historically led, and may lead in the future, to uncertainty or volatility in global markets commodities and financials and supply chains; the impact of Russia invasion of Ukraine and widespread international condemnation has had a significant destabilizing effect on global commodity prices, supply chains, inflation risk and global economies generally, may adversely affect business, financial condition and results of the Company’s operations.

Forward-looking statements are based on management’s current beliefs and expectations. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and availability of financing, as more fully described in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution you not to place undue reliance thereon. We undertake no obligation to revise or update these forward-looking statements.

SOURCEMoneta Gold Inc.

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View original content: http://www.newswire.ca/en/releases/archive/July2022/28/c1244.html

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