Report of Acquisition of Securities of Visionary Gold Corp.

Vancouver, British Columbia--(Newsfile Corp. - July 15, 2022) - Wesley John Adams ("Adams") reports that, pursuant to the recently completed first tranche (the "Transaction") of a non-brokered private placement (the "Offering"), he has acquired beneficial ownership of an additional 7,000,000 common shares ("Common Shares") of Visionary Gold Corp. ("Visionary") as well as 3,500,000 Common Share purchase warrants (the "Warrants"). Each Warrant entitles the holder thereof to acquire one Common Share (each a "Warrant Share") at a price of $0.10 for a period of 24 months from the closing date of the Transaction. The Common Shares and Warrants were issued to Adams in consideration of his payment of $350,000.

The Common Shares and Warrant Shares (assuming exercise of the Warrants) acquired pursuant to the Transaction represent approximately 10.6% of the current issued and outstanding Common Shares. Immediately prior to the Transaction, Adams held 11,377,473 Common Shares, representing pre-Transaction holdings of approximately 15.9% of the issued and outstanding Common Shares. Following completion of the Transaction Adams' holdings, including any Warrant Shares which may be issued upon exercise of the Warrants, represent approximately 22.1% of the issued and outstanding Common Shares, such percentage to be decreased upon closing of the second tranche of the Offering.

Adams acquired the Common Shares and Warrants for cash consideration and expects to be a long-term holder of the Common Shares. Notwithstanding the foregoing, Adams may, from time to time, acquire additional securities of Visionary, dispose of some or all of the existing or additional securities held or to be held, or, may continue to hold his current position.

This News Release is issued pursuant to National Instrument 62-103 - Early Warning System and Related Takeover Bids and Insider Reporting Issues of the Canadian Securities Administrators, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the related early warning report may be obtained from Visionary's SEDAR profile (www.sedar.com) or from Adams at 303-809-4668.

Neither 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 release.

WESLEY JOHN ADAMS
4 Smith Creek Road
Lander
Wyoming, USA
82718

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131055