Vancouver, British Columbia--(Newsfile Corp. - September 28, 2023) - Ophir Gold Corp. (TSXV: OPHR) (OTCQB: KPZIF) (FSE: 80M) ("Ophir" or the "Company") is pleased to announce mobilization of crew to its Leran Property (the "Property"), located in the Upper Eastmain Greenstone Belt in James Bay, Quebec.

The Company purchased the Leran Property, two (2) claims totalling 104.6 ha, located in the Upper Eastmain Greenstone Belt (Figure 1). The claims host a historically documented 1m X 1m X 1m spodumene pegmatite boulder, with a mineral assemblage of spodumene, tourmaline, muscovite, and garnet, grading 1.21% Li (~2.61% Li₂O) and 123 ppm Ta₂O₅ (CG-2016-08, SIGEOM Sample 16AB1220-A (Figure 2).

Due to the angular nature of the boulder, the distance travelled is interpreted to be limited with the source potentially located on the Property. A series of outcrops located up-ice, interpreted from satellite imagery, will be the primary target for the program.

The Company also announces that Darren L. Smith, M.Sc., P.Geo., while staying on as Director, will be stepping down as Vice President of Exploration of the Company as of October 6, 2023. Mr. Smith will continue to be an active technical participant in advancement of the Company.

Qualified Person

The technical content of this news release has been reviewed and approved by Nathan Schmidt, P. Geo., Senior Geologist for Dahrouge Geological Consulting Ltd., and a Qualified Person under National Instrument 43-101, who has prepared and reviewed the content of this press release.

The results discussed in this document are historical. An Ophir Gold Corp. qualified person has not performed sufficient work or data verification to validate these results in accordance with National Instrument 43-101. Although the historical results may not be reliable, the Company nevertheless believes that they provide an indication of the property's potential and are relevant for any future exploration program.

About the Company

Ophir Gold Corp. is a diversified mineral exploration company focused on the exploration and development of the Radis Lithium Property in the James Bay, Quebec, and the past producing Breccia Gold Property located in Lemhi County, Idaho. The Company holds an option to earn a 100% interest in the Radis Property over a three-year period from Eastmain Resources Inc., a wholly owned subsidiary of Fury Gold Mines Limited, and an option to earn a 100% interest in the Breccia Property from DG Resource Management Ltd.

On behalf of the Board of Directors

"Shawn Westcott"
Ophir Gold Corp.

For further information, please contact:

Shawn Westcott, CEO
Phone 1 (604) 365 6681
swestcott@ophirgoldcorp.com

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.

Cautionary Note

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable and include statements in this press release related to the exploration and discovery potential of the Property, interpretation of exploration results, and the Company's future exploration plans with respect to the Property. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risk related to the failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of technical reports including feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of preliminary economic assessments, prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances, except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

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