Moneta Announces Voting Results from Annual General & Special Meeting of Shareholders

Toronto, Ontario--(Newsfile Corp. - June 3, 2022) - Moneta Gold Inc. (TSX: ME) (OTCQX: MEAUF) (XETRA: MOP) ("Moneta" or the "Corporation") announced the approval of each of the matters set out in the Corporation's Management Information Circular ("Circular") dated April 15, 2022 at the 2022 Annual General and Special Meeting of Shareholders held via webcast on June 2^nd, 2022.

The total number of shares represented by shareholders present in person virtually and by proxy at the Meeting was 52,456,986, representing 55.23% of the Corporation's outstanding shares.

Election of Directors

Each of the following eight director nominees proposed by management in the Circular was elected. The votes were cast as follows:

Appointment of Auditors

BDO Canada LLP was reappointed as auditor of the Corporation and the Directors were authorized to fix the auditor's compensation. Results of the vote were as follows:

Approval of Omnibus Share Incentive Plan

The adoption of the Omnibus Share Incentive Plan, as described and attached to the Corporation's Circular dated April 15, 2022, was ratified and approved. Results of the vote were as follows:

Mr. Vejvoda, Chairman, commented, "We are extremely pleased to welcome our newest Board member, Mr. Louis Gariepy, a geological engineer with over 30 years of mining experience, including substantial experience in Québec and Latin America. Mr. Gariepy is currently Vice President ("VP") Exploration for O3 Mining Inc. ("O3 Mining"). Prior to joining O3 Mining, Mr. Gariepy served as Exploration Manager of Anglo American in Peru, and as Exploration Manager of IAMGOLD Corporation in Peru from 2005 to 2012, working on a wide array of projects in Latin America." "Additionally, Mr. Gariepy will provide extensive insight and knowledge to Moneta's technical committee," Mr. Vejvoda continued.

Mr. José Vizquerra did not stand for re-election and will continue to serve as a Special Advisor to the Board of Moneta.

Mr. Gary O'Connor, Chief Executive Officer remarked, "On behalf of our entire Board of Directors, shareholders, employees, and other stakeholders, we would like to thank Mr. Vizquerra for his dedication and contribution to our success over the past year and a half. Drawing on his many years of operational and executive management experience in our industry, Mr. Vizquerra has been a strong contributor to our Board and has helped guide Moneta to become the success it is today. We are grateful that Mr. Vizquerra has agreed to stay on as a Special Advisor to the Board of Moneta. Moneta appreciates the support and ongoing commitment of O3 Mining."

Mr. Vizquerra commented, "I have been truly honoured to serve on Moneta's Board of Directors over the past year and a half. Moneta has a very unique and extensive gold deposit in one of the best mining districts in Canada. I welcome the opportunity to serve as a Special Advisor to the Corporation."

About Moneta Gold
Moneta is a Canadian based gold exploration company focused on advancing its 100% wholly owned Tower Gold project, which currently hosts a gold mineral resource estimate of 4.3 Moz indicated and 7.5 Moz inferred. The Corporation's 2022 drill program is primarily designed to infill and upgrade the resource categories of the mineral resources. An updated PEA study encompassing the entire Tower Gold project is planned to be completed in H2, 2022. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource expansion drilling program, while conducting all business activities in an environmentally and socially responsible manner.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gary V. O'Connor, CEO
416-357-3319

Linda Armstrong, Investor Relations
647-456-9223

The Corporation's public documents may be accessed at www.sedar.com. For further information on Moneta Gold, please visit our website at www.monetagold.com or email us at info@monetagold.com.

This news release includes certain forward-looking information and forward-looking statements, collectively "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements include but are not limited to information with respect to the future performance of the business, its operations and financial performance and condition such as the Corporation's drilling program and the timing and results thereof and the timing of the Corporation's PEA. Forward-looking statements are subject to inherent risks and uncertainties including without limitation the impact of COVID-19 related disruptions in relation to the Corporation's business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19 and the ability of the Corporation to finance and carry out its anticipated goals and objectives. International conflicts and other geopolitical risks, including war, military action, terrorism, trade and financial sanctions, which have historically led to, and may in the future lead to, uncertainty or volatility in global commodity and financial markets and supply chains; the impact of Russia's invasion of Ukraine and the widespread international condemnation has had a significant destabilizing effect on world commodity prices, supply chains, inflation risk, and global economies more broadly, may adversely affect the Corporation's business, financial condition, and results of operations.

Forward-looking statements are based on the current opinions and expectations of management. 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 the availability of financing, as described in more detail 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 against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

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