Highvista Gold Announces Filing of Corrective Disclosure Pursuant to OSC Review

Toronto, Ontario--(Newsfile Corp. - July 28, 2023) - Highvista Gold Inc. (TSXV: HVV.H) (the "Company") announces that further to the review by the Ontario Securities Commission ("OSC") of the Company's continuous disclosure, and a subsequent request from OSC staff in connection therewith, the Company has made corrective disclosure with respect to its unaudited financial statements (the "Financial Statements") and management's discussion and analysis (the "MD&A") for interim period ended December 31, 2022.

Corrective disclosure was requested by OSC staff in connection with the Company's application to revoke the failure-to-file cease trade order issued by the OSC on August 2, 2019. Corrective disclosure addresses various deficiencies identified under Form 51-102F1 Management's Discussion & Analysis, including: the reference to the Company's expired letter of intent with Highvista Capital Corp. and the liquidity and capital resources disclosure throughout the MD&A and the Financial Statements.

For the purpose of making corrective disclosure, and in accordance with OSC Staff Notice 51-711 (Revised) - Refilings and Corrections of Errors ("SN 51-711"), the Company has filed the revised version of the Financial Statements and the MD&A on SEDAR+ (www.sedarplus.com) providing additional details and clarifications with respect to the Company's expired letter of intent with Highvista Capital Corp. and the liquidity and capital resources disclosure throughout the Financial Statements and the MD&A. Certifications of interim filing for the Financial Statements and the MD&A, will also be filed by the Company as part of its corrective disclosure and in compliance with National Instrument 52-109 - Certification of Disclosure in Issuers' Annual and Interim Filings.

As a result of having to provide such corrective disclosures, the Company will be placed on the public list of Refiling and Errors (the "List") in accordance with SN 51-711 and will remain on the List for a period of three years from the date of refiling the corrective disclosure.

For further information, please contact:

Paul Crath,
Interim CEO
Email: paulcrath@gmail.com
Telephone Number: 347-835-9032

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

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