Battle North Gold Corp. Launches its Multi-Faceted Red Lake Regional Exploration Program

Forward-looking statements are based on assumptions, estimates, expectations and opinions, which are considered reasonable and represent best judgment based on available facts, as of the date such statements are made. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions referenced, contained or incorporated by reference in this news release which may prove to be incorrect include those set forth herein, as well as the Project Technical Report, the Company's annual information form dated March 27, 2020 ("2020 AIF") and the Company's Management's Discussion and Analysis for the three-quarters ended in 2020 (collectively, the "2020 MD&A") and accompanying financial statements, all available under the Company's profile at www.sedar.com and on its website at www.battlenorthgold.com, as well as: (1) permitting, exploration and development at the Project being consistent with the Company's current expectations including the maintenance of existing permits, licenses and other approvals and the timely receipt of other permits, licenses and other approvals necessary from time-to-time; (2) political and legal developments being consistent with its current expectations; (3) the completion of necessary work, evaluations and studies, and provision of services, on the timelines currently expected (notwithstanding the risks, uncertainties, contingencies and other factors described below including COVID-19) and the results being consistent with the Company's current expectations; (4) development and construction at the Project being consistent with the Company's expectations including budget, forecast cost and expenditures, and schedule thereof; (5) the exchange rate between the Canadian dollar and the U.S. dollar being approximately consistent with current expectations; (6) price assumptions for gold; (7) prices for diesel, natural gas, electricity and other key supplies being approximately consistent with current levels; (8) the accuracy of the Mineral Reserve and Mineral Resource estimates in the Project Technical Report (including ore tonnage and grade estimates) and the Company's internal models; (9) labour and materials costs being consistent with the Company's current expectations; (10) continuing amenable relations with key stakeholders including local communities and First Nations; (11) the closing of the Credit Facility previously announced by news release on December 22, 2020 substantially on the terms of the Commitment Letter described therein, a copy of which is available under the Company's profile at www.sedar.com and on its website at www.battlenorthgold.com (the "Credit Facility News Release"); and (12) the Company's ability to meet future debt obligations and/or complete future financings to raise additional capital as and when needed to fund ongoing operations and construction of the Project.

Forward-looking statements are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of Battle North to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies and other factors include, among others: gold price fluctuations; possible variations in mineralization, grade or recovery or throughput rates; variability and other uncertainty of geological settings, trends and structures; uncertainty of Mineral Reserve and Mineral Resource estimates; inability to realize exploration potential, mineral grades and mineral recovery estimates; actual results of exploration activities including their timing and impact; delays in completion of exploration and other drilling, programs or plans, and any modelling, re-interpretations or studies, for any reason including insufficient capital and other risks, uncertainties, contingencies and factors identified herein; labour issues at the Company or third parties, such as government and regulatory agencies, suppliers and service providers, including labour shortages and/or work curtailments or stoppages as may result from COVID-19; conclusions of economic, geological or structural evaluations and models including those reflected in the Project's Feasibility Study and Mineral Reserve and Mineral Resource estimates; changes in Project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; accidents and other risks of the mining industry; delays and other risks related to operations; the ability to obtain and maintain permits and other regulatory approvals (as well as the timing and terms thereof) and to comply with such permits, approvals and other applicable regulatory requirements; the ability of Battle North to comply with its obligations under material agreements including Project development and construction contracts and any current or future financing agreements; the availability of financing for proposed programs and working capital requirements on reasonable terms and in a timely manner; the ability to close the Credit Facility substantially on the terms of the Commitment Letter previously announced; not closing the Credit Facility substantially on the terms of the Commitment Letter as previously disclosed; the sufficiency of the proceeds of the Credit Facility, together with cash currently on the Company's balance sheet, to fund the Project to Commercial Production; the ability to meet, repay, or refinance, or replace, or renegotiate current and future debt obligations on reasonable terms and in a timely manner including the closure and reclamation surety bond; the ability of third-party service providers and other suppliers to deliver on reasonable terms and in a timely manner; risks associated with the ability to retain key executives and key operating personnel; cost of environmental expenditures and potential environmental liabilities; relations with local communities including First Nations; failure of plant, equipment or processes to operate as anticipated; cost of supplies; market conditions and general business, economic, competitive, political and social conditions; our ability to generate sufficient cash flow from operations or obtain adequate financing to fund our capital expenditures and working capital needs and meet our other obligations; the volatility of the Company's share price, and the ability of our common shares to remain listed and traded on the TSX; epidemics, pandemics and other public health crises, including COVID-19 or similar such viruses; the impact of any merger, acquisition or other strategic transaction involving the Company including any acquisition or other change in control of the Company; the "Risk Factors" in the 2020 AIF, the risks, uncertainties, contingencies and other factors identified in the Project Technical Report and the 2020 MD&A (and accompanying financial statements). The foregoing list of risks, uncertainties, contingencies and other factors is not exhaustive; readers should consult the more complete discussion of the Company's business, financial condition and prospects that is provided in the 2020 AIF and the other aforementioned documents.

The forward-looking statements referenced or contained herein are expressly qualified by these Cautionary Statements as well as the Cautionary Statements in the 2020 AIF, the Project Technical Report and the 2020 MD&A (and accompanying financial statements). Forward-looking statements contained herein are made as of the date of this news release (or as otherwise expressly specified) and Battle North disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable laws.


Cautionary Statement regarding Mineral Reserve and Mineral Resource Estimates

Until mineral deposits are actually mined and processed, Mineral Reserves and Mineral Resources must be considered as estimates only. Mineral Resource estimates that are not Mineral Reserves do not have demonstrated economic viability. The estimation of Mineral Reserves and Mineral Resources is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by, among other things, environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant risks, uncertainties, contingencies and other factors described in the foregoing Cautionary Statements, as well as those described in the 2020 AIF, the 2020 MD&A (and accompanying financial statements) and the Project Technical Report. The Mineral Reserve and Mineral Resource estimates referenced in this news release were reported using Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (the "CIM Standards") in accordance with National Instrument 43-101 of the Canadian Securities Administrators ("NI 43-101").

Cautionary Statement to U.S. Readers