Mr. John Black reports

ALDEBARAN PROVIDES UPDATE ON ALTAR DRILL PROGRAM

Aldebaran Resources Inc. has released an update on the continuing drill program at the Altar copper-gold project located in San Juan, Argentina.

The main goal of the 2022/2023 drill campaign is to follow up on the results of the 3-D IP (induced polarization)/resistivity and MT geophysical survey (see news release dated June 13, 2022) completed in the previous year across the entire Altar copper-gold project which revealed a compelling coincidence between the DCIP and MT resistivity data sets and areas of known mineralization. To date, only a small portion of this large, three-kilometre-by-three-kilometre-by-two-kilometre anomaly, which is situated between, to the south of and below the main Altar Central and East deposits, has been drill tested.

Drill holes ALD-22-220 and ALD-22-221 from the 2021/2022 drill campaign confirmed the company's long-held belief that the Altar system is much bigger than previously thought (see the news release dated Aug. 18, 2022) and confirmed the DCIP/MT geophysical anomaly should represent mineralization. Where possible, holes are being placed in locations to coincidently test the geophysical anomaly and areas of undefined waste (rock within the current resource pit that is being treated as waste material due to the lack of drilling in those areas). Any mineralization found above a break-even cut-off grade within the current resource pit in areas that are currently defined as waste will benefit the overall project.

The company currently has three rigs actively drilling on the property with two holes recently completed. Hole ALD-22-222, was recently terminated at 1,226 metres of depth; it was designed to test a coincident favourable geophysical signature and a strong, multielement talus fines geochemical anomaly at surface. The hole was drilled in an area with no previous drilling. Hole ALD-22-223 was also recently terminated at 1,287.5 m of depth; it was designed to test the favourable DCIP/MT geophysical anomaly in an area of favourable geological and geochemical information gleaned from nearby shallow drilling. The hole represents an over-400-metre stepout from previous hole ALD-21-221.

Three holes are currently active with ALD-23-224 and ALD-23-225 both following up on mineralization encountered in ALD-22-221 and further testing the DCIP/MT geophysical anomaly, while ALD-23-226 is designed to test the southern extension of the DCIP/MT geophysical anomaly on the same north-south section line as ALD-22-223 and also fill in an area with a lack of historical drilling information. All of these holes represent over-200-metre step outs from historic drill holes and will add valuable information for an eventual resource update.

Current turnaround times at the assay lab are approximately 30 days after submittal; the company expects to receive assays results for ALD-22-222 and ALD-22-223 sometime in March. Once assays are received and internal QA/QC (quality assurance/quality control) is completed, the company will publish the results.

Qualified person

The scientific and technical data contained in this news release has been reviewed and approved by Dr. Kevin B. Heather, BSc (hons), MSc, PhD, FAusIMM, FGS, chief geological officer and director of Aldebaran; he serves as the qualified person (QP) under the definitions of National Instrument 43-101.

About Aldebaran Resources Inc.

Aldebaran is a mineral exploration company that was spun out of Regulus Resources Inc. in 2018 and has the same core management team. Aldebaran has the right to earn up to an 80-per-cent interest in the Altar copper-gold project in San Juan province, Argentina, from Sibanye Stillwater Ltd. The Altar project hosts multiple porphyry copper-gold deposits with potential for additional discoveries. Altar forms part of a cluster of world-class porphyry copper deposits which includes Los Pelambres (Antofagasta Minerals), El Pachon (Glencore) and Los Azules (McEwen Copper). In March, 2021, the company announced an updated mineral resource estimate for Altar, prepared by Independent Mining Consultants Inc. and based on the drilling completed up to and including 2020 (independent technical report prepared by Independent Mining Consultants Inc., Tucson, Ariz., titled "Technical Report, Estimated Mineral Resources, Altar Project, San Juan Province, Argentina," dated March 22, 2021 -- see the news release dated March 22, 2021).

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