Moneta Gold Inc. Publishes Inaugural ESG Report

Click here to view Moneta Gold's ESG report

2022 Highlights:

• Almost 900 hours of safety training provided to workers.
• Zero regulatory fines from any health and safety or environmental incidents.
• Continued gathering baseline data for various environmental parameters, including biodiversity, water quality, hydrology, and hydrogeology.
• Developed relationships with local Indigenous groups and neighboring communities through provision of employment and contracting opportunities.
• Approximately 67% of purchases from local suppliers, including from small independent businesses.
• Adopted internationally recognized performance and reporting standards to enhance our ESG strategy and profile.
• Diverse workforce, including Indigenous staff, employees from Indonesia, South Africa, Philippines, India, and Australia.
• Women made up 25% of workforce.
• Over 85% of the workforce from the local area.

"Our inaugural Sustainability Report reflects our core philosophy that we put ESG at the forefront of our activities. All of us at Moneta are very proud of this commitment, whether it involves building and maintaining relationships, focusing on health and safety, governance oversight, and recognizing the importance of Indigenous communities, and environmental protection. Throughout 2023, we have continued to further develop and refine our ESG strategy; with an approach to integrate industry-standard performance and reporting frameworks relevant to our early stage of development," stated Josef Vejvoda, interim Chief Executive Officer of Moneta Gold.

About Moneta Gold

Moneta is a Canadian-based gold exploration company focused on advancing its 100% wholly owned Tower Gold project, located in the Timmins region of Northeastern Ontario, Canada's most prolific gold producing camp. The September 2022, PEA study outlined a combined open pit and underground mining and a 7.0 million tonne per annum conventional leach operation over a 24-year mine life, with 4.6 Moz of recovered gold, generating an after-tax NPV5% of $1,066M, IRR of 31.7%, and a 2.6-year payback at a gold price US$1,600/oz. Tower Gold hosts an estimated gold mineral resource of 4.5 Moz indicated and 8.3 Moz inferred. Moneta is committed to creating shareholder value through the strategic allocation of capital and a focus on the current resource upgrade drilling program, while conducting all business activities in an environmentally and socially responsible manner.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Ardem Keshishian, VP Corporate Development
416-471-5463
akeshishian@monetagold.com

The Company's public documents may be accessed at www.sedar.com. For further information on the Company, please visit our website at www.monetagold.com or email us at info@monetagold.com.

This press release contains forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of US securities laws, (collectively "forward-looking statements") about Moneta Gold Inc. ("Moneta" or the "Company"). All statements, other than statements of historical fact, that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future are forward-looking statements. Sentences and phrases containing words such as "aim", "believe", "estimate", "anticipate", "plan", "will", "intend", "predict", "outlook", "goal", "target", "forecast", "project", "scheduled", "proposed", "expect", "potential", "strategy", and the negative of any of these words, or variations of them, or comparable terminology that does not relate strictly to current or historical facts, are all indicative of forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company.

Forward-looking statements are subject to inherent risks and uncertainties, and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from Moneta's expectations expressed in or implied by such forward-looking statements and that Moneta's business outlook, objectives, plans and strategic priorities may not be achieved. These statements are not guarantees of future performance or events, and Moneta cautions you against relying on any of these forward-looking statements. Forward-looking statements are provided in this press release for the purpose of assisting investors and others in understanding Moneta's objectives, strategic priorities, and business outlook, and in obtaining a better understanding of Moneta's anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Examples of forward-looking statements in this press release include, but are not limited to statements related to, the Company's goal of achieving long-lasting positive impacts for all of its stakeholders through the implementation of sustainable business practices and procedures; the timing, scope and focus of the Company's pre-feasibility study ("PFS"); the development of the Company's ESG strategy, including the annual review of such strategy and the Company's plans to review its actions against the strategy; the Company's adoption of internal processes to increase conformance with TCFD and SASB reporting and supplementing such disclosure with relevant GRI indices; the timing and scope of the planned studies being performed in connection with the Company's environmental assessment process; the Company's environmental management system, including the timing to implement such system; the scope of the Company's feasibility study phase, including the identification and assessment of low-carbon technologies to reduce emissions from the start of its operations; the Company's climate and energy initiatives, including the timing and scope of the Company's Climate Change and Energy Policy; the Company's water management initiatives, including the timing and scope related to studies and modelling related to the Abitibi River and Missinaibi-Mattagami River watersheds, the potential for Acid Rock Drainage and associated metal leaching, the Company commencing outreach to other water users and interest groups to understand key risks and seek opportunities to solve water-related challenges, and the development of a register regulatory compliance and agreements, training for personnel, incidents management procedure and monitoring program; the timing, scope and goals of the Company's biodiversity and environmental stewardship initiatives; the Company's tailings management initiatives, including the timing and scope related to the design of the Tower Gold Project Tailings Management Facility; the timing and scope of the Company's closure plan initiatives; the Company's goal to achieve zero accidents and injuries; the timing and scope of the Company's health and safety initiatives, including the development of its Health and Safety Management System and the planned roll-out of the basis of the Moneta health and safety program to the workforce by year end 2023; the timing and scope of the Company's crisis management initiatives and policies, including its goal to develop a crisis management plan in 2023 commensurate with the magnitude of the risks that Moneta is exposed to as a junior exploration company; the timing and scope related to the Company's initiatives related to its relationship with its neighbouring Indigenous communities, including engagement with such communities and the negotiation of Impact Benefits Agreements; the timing and scope of the Company's engagement initiatives with respect to local community engagement; the timing and scope of the Company's initiatives with respect to employee and labour rights, including the introduction of a range of human resources policies; the timing and scope related to the Company's supply chain initiatives, including the improvement of its supply chain policy and procedure framework; the timing and scope related to the Company's Board governance initiatives, including the improvement of its Board governance policies and operating procedures framework and the Company's objective of reaching 30% representation of women on the Board by its annual general meeting in 2024; the timing and scope related to the Company's initiatives related to ethical behaviour, including the review and improvement of its ethics policies and operating procedures framework; and the Company's expectation to provide more data and description of its progress regarding ESG matters in subsequent annual reports.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to the availability and costs of financing needed in the future; changes in commodity prices; changes in equity markets; changes to laws and regulations affecting the Company's activities (including the presence of laws and regulations that may impose restrictions on mining); the uncertainties involved in interpreting exploration results and other geological data and the other risks involved in the mineral exploration industry (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; availability of increasing costs associated with mining inputs and labour; employee relations; relationships with and claims by local communities and Indigenous populations; the extent to which a resurgence in COVID-19 will impact the Company's business operations including upon its employees, suppliers, facilities and other stakeholders; international conflicts and other geopolitical risks, including war, military action, terrorism, trade and financial sanctions, which have historically led to, and may in the future lead to, uncertainty or volatility in global commodity and financial markets and supply chains; the impact of Russia's invasion of Ukraine and the widespread international condemnation, which has had a significant destabilizing effect on world commodity prices, supply chains, inflation risk, and global economies more broadly, and may adversely affect the Company's business, financial condition, and results of operations; and the additional risks described in Moneta's Annual Information Form for the year ended December 31, 2022 filed with the Canadian securities regulatory authorities under Moneta's SEDAR profile at www.sedar.com. Moneta cautions that the foregoing list of factors that may affect future results, performance or achievements expressed or implied by the forward-looking statements in this press release is not exhaustive.

Forward-looking statements made in this press release are based on a number of assumptions that Moneta believed were reasonable at the time it made each forward-looking statement. The assumptions, although considered reasonable by Moneta on the day it made the forward-looking statements, may prove to be inaccurate. Accordingly, our actual results could differ materially from our expectations. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.