Kapa Gold Provides Update on Blackhawk Property

Vancouver, British Columbia--(Newsfile Corp. - February 1, 2024) - KAPA GOLD INC. (TSXV: KAPA) ("Kapa" or the "Company") is pleased to announce that is has successfully completed road rehabilitation at its Blackhawk Property to gain access to its underground workings. With this upgraded access the Company engaged local contractors to clean out the tunnel access and clear backfilled material used as part of past closure activities. This allowed limited access to view the underground for the first time in greater than seven decades.

The Blackhawk property is located in San Bernardino County, southeastern California, approximately 60 km northwest of Palm Springs. Exploration at the Blackhawk property and historical underground mining exploited structurally controlled carbonate-hosted gold mineralization.

The most extensively developed area occurs on the Santa Fe claim. By 1926, mining operations had reached the fourth level at Calle de Oro at the western end of the Santa Fe claim area where a series of five or more, red siliceous structures were selectively mined from the carbonate host. By 1931, nearly 3,650 meters of underground development on four levels and various stopes had been developed.

Limited sampling was completed from Calle de Oro stope areas; results will be released once available. The sampling was limited at this time due to the partial access as not all levels were cleaned. The Company will be consulting with local mining engineers and contractors to determine the best methods to gain further access to additional adits and stopes and increase the size of the openings to allow for future underground evaluation which will include sampling and drilling.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Dr. Allan Miller, PhD., P.Geo., Consultant and Senior Geologist of Kapa Gold Inc., a "Qualified Person" as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Kapa Gold

Kapa Gold, led by experienced capital markets and geologic team, is focused on exploring its 100% owned historic Blackhawk Gold Mine and surrounding underexplored properties for economic mineralization. Kapa Gold has recently optioned the historic Mastodon Project in BC, Canada and is compiling historical data in advance of recommendations for exploration programs.

To learn more, visit kapagold.com.

On behalf of the Board of Directors

KAPA GOLD INC.

"David K. Paxton"
CEO and Director

For More Information Contact:

Konstantine Tsakumis
kon@kapagold.com
604-961-9442

Neither the 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.

Forward-Looking Information

Certain statements made, and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would". Forward-looking statements and information contained herein are based on certain factors and assumptions. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guaranteeing of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

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