Mr. Nick DeMare reports

AUSCAN RESOURCES COMPLETES FINANCING

Auscan Resources Inc. has closed its non-brokered private placement financing announced on Jan. 4, 2024, by issuing a total of 640,000 units at 13 cents per unit for proceeds totalling $83,200. Each unit comprised one common share and one-half of a common share purchase warrant, with each whole warrant entitling the holder to purchase an additional share for a period of 12 months at a price of 17 cents. All shares and warrants issued are subject to a four-month hold period from the date of closing. The warrants have restrictions which will prohibit exercise in certain circumstances.

Insiders participated in this financing and proceeds will be used for working capital purposes.