Karus Announces Changes to Board at Annual General and Special Meeting

Vancouver, British Columbia--(Newsfile Corp. - September 14, 2023) - Karus Gold Corp. (the "Corporation" or "Karus") announces that all matters proposed at the Annual General and Special Meeting of shareholders (the "AGSM") held today at 10:00AM Pacific Time were approved, including changes to the Board of Directors ("Board").

As previously disclosed in the information circular sent to shareholders in support of the AGSM, Mr. Joe Ovnesek did not stand for re-election to the Board and Mr. Jay Sujir was nominated in his place. The Board is pleased to announce that Mr. Sujir was elected to the Board at the AGSM. Mr. Sujir is a securities and natural resources lawyer who has 23 years of experience in advising and assisting public companies and is a senior partner at Farris LLP. Mr. Sujir is a member of the Law Society of British Columbia and the Canadian Bar Association.

The Board of Karus would like to thank Mr. Ovnesek for his service and welcomes Mr. Sujir to the Board.

About Karus
Karus is the 100% owner of the 1,000 km2 South Caribou Gold District that includes the drill-stage FG Gold and Gold Creek projects in British Columbia. Further information on Karus and its assets can be found on the Company's website at www.karusgold.com and at www.sedarplus.ca, or by contacting us as info@karusgold.com.

ON BEHALF OF KARUS GOLD CORP.

"Scott Trebilcock"

Scott Trebilcock
Lead Independent Director

For more information, please contact Karus Investor Relations:

(888) 455-7620
info@karusgold.com

Cautionary Statement on Forward-Looking Information

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the business of the Company and the stage of the projects, are forward-looking statements. Although the Corporation believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Corporation cautions investors that any forward-looking statements by the Corporation are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, the state of the financial markets for the Corporation's equity securities, the state of the commodity markets generally, variations in the nature, quality and quantity of any mineral deposits that may be located, variations in the market price of any mineral products the Corporation may produce or plan to produce, the inability of the Corporation to obtain any necessary permits, consents or authorizations required, including Exchange acceptance, for its planned activities, the inability of the Corporation to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, and other risks and uncertainties disclosed in the Corporation's latest interim Management Discussion and Analysis and filed with certain securities commissions in Canada. All of the Corporation's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical report filed with respect to the Corporation's mineral properties.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180664