Vancouver, British Columbia–(Newsfile Corp. – October 24, 2022) – Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (“Doubleview”) is pleased to announce that the Company’s ongoing testwork program investigating the potential for scandium extraction and recovery has resulted in a significant accomplishment by achieving 89% Scandium extraction from floatation tailings of Hat Deposit material. These results are an important break-through metallurgical accomplishment for the Company’s Hat Deposit. Scandium is an important strategic element that has many applications in global electrical and metal industries and is chronically in short supply.

Preliminary metallurgical extraction tests on flotation tailings in sulphate media at elevated temperatures demonstrated that 89% of the scandium in the flotation tailings could be extracted into solution. Higher levels of scandium extraction are anticipated with optimization of extraction conditions. These results are an important accomplishment in the metallurgical development of the Company’s Hat Deposit.

Recent quantitative mineralogical investigations in relation to the HAT Deposit showed that scandium is primarily associated with rock forming minerals such as clinopyroxene and amphiboles. Supplementary copper flotation test work showed that 99.5% of the scandium associated with the gangue minerals reported to the flotation tailings. The scandium grade of the tailings from the flotation tests assayed 65 g/t.

Andrew Carter, Doubleview’s QP, stated, “The mode of occurrence of scandium in Hat Deposit mineralized material is typical and scandium responds predictably to conventional approaches to extraction, furthermore, recovery of scandium from sulphate solution is not expected to present any undue difficulty.”

Doubleview President and CEO, Mr. Farshad Shirvani, commented, “I am specifically proud of the metallurgical team and laboratory scientists for achieving exceptional results in the recovery of scandium, now recognized in North American as an essential mineral. Initial scandium recovery rates of 89% from flotation tailings with the anticipation of higher recoveries with optimization is extremely encouraging. Scandium is present and has been assayed throughout the deposit and will be evaluated in upcoming resource calculations. Recovering scandium from tailings in addition to copper, cobalt and gold recovery in concentrates is significant as it potentially provides another commercially saleable product with limited additional costs. The Company recently announced it commissioned a maiden resource estimate for the HAT Deposit. The addition of scandium to a polymetallic resource which includes gold, copper, cobalt, silver and PGE could distinguish the HAT Deposit as a world class resource.”

Laboratory test work is currently underway in which the scandium bearing solutions will be subjected to a sequential purification process before recovery of scandium as a commercial salt. Several recovery processes have been identified to produce a range of potential scandium products, which will be further evaluated as the test work proceeds.

Qualified Person.

EUR ING Andrew Carter B.Sc. CEng. MIMMM, MSAIMM SME of Tetra Tech Europe is Doubleview’s Qualified Person with respect to the Hat Project Metallurgical Studies as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the technical contents of this news release. He is independent of Doubleview.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG), (OTCQB: DBLVF), (GER: A1W038), (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risk.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO
T: (604) 678-9587

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview’s control. Such factors include, among other things: risks and uncertainties relating to Doubleview’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.