Not for distribution to U.S. news wire services or dissemination in the United States.

Vancouver, British Columbia, April 29, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to announce that, effective immediately, the Company has appointed Dr. Tsun Law to its Board of Directors.

Dr. Tsun Law MD, MBA is a practicing Orthopedic Physician in South Florida, USA specializing in hip and knee osteoarthritis who is actively engaged in clinical research with a special focus on robotic and sensor technologies, medical innovation, and healthcare investments. Dr. Law has been published in numerous highly regarded peer reviewed medical journals and his research has been accepted for presentation at both national and international orthopedic surgery conferences. Dr. Law is working collaboratively with world renowned colleagues and institutions to develop a new cutting edge Orthopedic Innovation Center focused on high quality surgical and medical orthopedic care and innovative treatments. Dr. Law has been inducted into the Sigma Beta Delta International Business Honor Society for exemplary academic performance during his Healthcare Management MBA studies at Davenport University. He was also recognized for his volunteer work helping victims of tornado disasters and providing medical care to the Native American Lakota tribe and was the recipient of a Platinum Level Award for his contributions.

The Company is also pleased to announce that it proposes to complete a non-brokered private placement of up to 1,166,667 units of the Company (each, a “Unit”) at a price of $0.60 per Unit for aggregate proceeds to the Company of up to $700,000 (the “Offering”).

Each Unit shall be comprised of one common share in the capital of the Company (each, a “Share”) and one common share purchase warrant of the Company (each, a “Warrant”), with each Warrant entitling the holder thereof to purchase one additional common share, at an exercise price of $0.72 for a period of three (3) years from the closing date of the Offering.

The gross proceeds raised from the sale of Units under the Offering will be used to advance the Company’s exploration programs and for general corporate matters.

Further to the Company’s news release of April 8, 2022, Mr. Jay Jiang Yu, Chairman and President intends to subscribe for 333,334 Units under the Offering for gross proceeds to the Company of $200,000.

The Company may pay Finders Fees to applicable finders and the Offering may be closed in one or more tranches.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the Offering will be subject to a four (4) month hold period commencing on the closing date of the Offering. The closing of the Offering is subject to, among other things, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

About St James Gold Corp.

St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange under the trading symbol “LORD”, in the U.S. Market listed on OTCQB under "LRDJF" and on the Frankfurt Stock Exchange under “BVU3”. The Company is focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well-delineated geological theories; integrating all available geological, geochemical, and geophysical datasets; and financing efficient exploration programs. The Company currently holds: (i) 100-per-cent stake in 29 claims, covering 1,791 acres, in the Gander gold district in north-central Newfoundland located adjacent to New Found Gold Corp.'s Queensway North project; and (ii) a 100-per-cent stake in 9 claims and an option to acquire a further 100-per-cent interest in 19 claims, covering a total 1,730 acres, in central Newfoundland located adjacent to Marathon Gold's Valentine Lake property; and (iii) an option to acquire up to an 85-per-cent interest in the Florin Gold Project, covering nearly 22,000 contiguous acres in the historical Tintina gold belt in Yukon Territory, Canada.

For more corporate information please visit:

St. James Gold Corp.
For further information, please contact:
George Drazenovic, Chief Executive Officer
Tel: 1 (800) 278-2152

Forward Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities laws (collectively, “forward-looking statements”). Forward-looking statements in this news release relate to, among other things: the TSX Venture Exchange’s approval for the Company to complete the Offering on the proposed terms as described herein, the completion of the Offering, and all other statements that are not historical facts, particularly statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance of the Company. Often, but not always, forward-looking statements can be identified through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”. Forward-looking statements contained in this news release are made based on reasonable estimates and assumptions made by management of the Company at the relevant time in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. Forward-looking statements contained in this news release are made as of the date of this news release and the Company will not update any such forward-looking statements as a result of new information or if management’s beliefs, estimates, assumptions or opinions change, except as required by law. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, which could cause actual results, performance, achievements and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the impact and progression of the COVID-19 pandemic and other factors outlined in the Company’s Annual Information Form dated July 26, 2021 (the “AIF”) filed under the Company’s profile on SEDAR at The Company cautions that the list of risk factors and uncertainties described in its AIF on SEDAR are not exhaustive and other factors could materially affect its results.

New factors emerge from time to time, and it is not possible for the Company to consider all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.