Dear Shareholders and Interested Parties

As drilling continues at Pilar Gold’s super high-grade Sertão deposit, the Company is pleased to announce the continuation of a previous 2018 bulk sample program at the 100% owned Eliseo project. Eliseo is approximately 50km north of Sertão and represents the largest soil sample anomaly on the Faina Greenstone Belt. This same Faina Greenstone Belt also hosts Pilar’s Sertão and Cascavel high grade deposits.

From past exploration, Eliseo is known to be greater than 15 kms in strike length with the gold bearing conglomerate layer outcropping at surface in a continuous manner and having a width of between 5 to 30 metres. Eliseo represents a massive tonnage deposit with the potential to host multi-million ounces of gold.

The 2018 bulk sample exploration program tested approximately 10% or 1.5 kms of the 15+ km with 6 bulk samples totaling 89.1 tonnes returning an average grade of 2.48 g/t Au from surface.

Last week our chief geologist Paulo, accompanied by our newly appointed geological exploration coordinator, Elson Bitar, visited Eliseo to meet with four farmers, the surface right holders to discuss project access and exploration plans. The immediate priority is to upgrade the road to the area to allow small trucks to pick up the bulk samples. Our team were very pleased with the meetings as the farmers understand the immense potential value sitting in the ground waiting to be unlocked.

An insightful video about Eliseo was made by OldGold last year with over 16,000 views. The video shows the scale of the gold bearing system and also features some interpretations from the 2018 geological team. Pilar Gold has recently grown the tenement package with the help of our good friend Mr. Vessani and the EDEM Group.

As you will see in the video, the meta-conglomerate outcrops in the hilltop, with very little or even no soil cover, make sampling about as easy as it gets. Our exploration method of trenches and small pits will give us sufficient exposure and samples to support our study of the meta-conglomerate levels. Bulk samples provide a much better confidence level for conglomerates than the narrow view that drill cores would allow.

Of course, this work doesn’t run on fumes, so please find below a link to Pilar Gold’s subscription agreement which offers a C$1.00 unit consisting of one share and a full warrant exercisable at C$1.50 for 2 years. We really appreciate the continued support of our 400 investors who have made Pilar Gold’s growth possible, and allowed the Company to advance exciting projects like Sertão and Eliseo.

Next week we will update you on 3 new drill holes at Sertão – with potential to be the highest grading gold mine in the industry in 2023.

Thanks again for your support.

Regards,

Jeremy Gray | CEO
jeremy.gray@pilargold.com

Charles Chebry | President
charles.chebry@pilargold.com

Edward Balme | Head of Investor Relations
edward.balme@pilargold.com

Previous Pilar Gold emails:

• 09/21/2022 - Sertão hits 2.1m @ 36 g/t 200m from old pit

• 07/25/2022 - Gold Rush at Sertão

• 07/09/2022 - Pilar Gold’s first ever Broker Report from GOLDINVEST.de

• 07/02/2022 - Pilar Gold Achieves Strongest Production Rate in 3 Years

• 05/31/2022 - More High-Grade Results at Sertão

• 05/09/2022 - New Video of Pilar Gold’s 7 Mines and 4 Mills

• 05/01/2022 - Pilar Gold Orders MRS Dry Stack Tailings System

• 04/10/2022 - Tungsten's Looming Price Spike

• 03/17/2022 - Pilar Gold Bonanza Discovery Webinar

• 03/08/2022 - Pilar Gold closing 70 cent round this Friday

• 03/05/2022 - China + Russia = 87% of Global Tungsten Supply

• 02/17/2022 - Pilar Gold’s MLSE Drilling Update

• 02/13/2022 - Pilar Gold Signs Offtake with Trafigura Pte Ltd

• 01/27/2022 - Tungsten Price Update

• 01/25/2022 - Launch of Pilar Gold Website

• 01/21/2022 - Sertão Drilling Resumes Today

• 01/17/2022 - Pilar Gold Inc Completes the Acquisition of Bodó Mineração in Brazil

• 12/27/2021 - New Video on Pilar Gold's Sertão Drilling

• 12/17/2021 - Pilar Gold Hits 2.5m @ 33.8 g/t at Sertão

• 12/15/2021 - Drilling Starts at Maria Lázara South East

• 12/07/2021 - Pilar Gold - Bonanza Grade Drill Results at Sertão

• 11/26/2021 - Pilar Gold Update and Private Placement