Mr. Etienne Moshevich reports

ATCO MINING CLOSES PRIVATE PLACEMENT FOR $894,500

Atco Mining Inc. has closed a first tranche of its non-brokered private placement and has issued 6.2 million flow-through units at a price of 5.75 cents per FT unit and 10.76 million non-flow-through units at a price of five cents per NFT unit for gross proceeds of $894,500. Each unit consists of one common share of the company and one transferable common share purchase warrant, entitling the holder thereof to purchase one additional share at a price of 15 cents until March 18, 2026.

The company intends to use the net proceeds raised from the offering for exploration expenses in respect of the company's existing exploration projects and for general working capital purposes.

In connection with closing of the offering, the company paid finders' fees totalling $4,790 and issued 94,000 warrants to certain arm's-length brokerage firms. All securities issued in connection with the private placement are subject to a statutory hold period until July 19, 2024, under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside pf Canada.

Etienne Moshevich, an insider of the company, through Transcend Capital Inc., a holding company controlled by Mr. Moshevich, subscribed for $218,000 or 4.36 million non-flow-through units. Participation in the offering by an insider of the company constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The issuance of securities to Transcend Capital is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(b) as the shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(a) of MI 61-101, in that the fair market value of the consideration paid for the securities issued to Transcend Capital does not exceed 25 per cent of the company's market capitalization.

"I want to thank our shareholders for their support and belief in our company," said Etienne Moshevich, chief executive officer of the company. "Atco has never seen a more exciting time with a drill program currently under way. This cash infusion not only cements our ability to continue our program but gives us the ability to extend it. We are looking forward to updating our investors with our progress over the coming weeks."

The company also announces that Dawson Brisco has resigned from the board of directors.

"I was elected to the board of Atco to assist with the early development of the company and its hydrogen energy strategy, and I am very proud to have helped in that regard," stated Mr. Brisco. "However, due to an increasing level of professional commitments, I find myself unable to continue serving on the board. I want to thank my fellow directors and wish Atco much success as it advances its newly identified uranium prospects."

The company would like to thank Mr. Brisco for all his efforts and wish him the very best with his future endeavours.

About Atco Mining Inc.

Atco Mining is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco Mining is exploring for uranium in the Athabasca basin, as well as salt opportunities in western Newfoundland.

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