Mr. Peter Shippen reports

BRITANNIA PROVIDES UPDATE ON MINING DIVISION INCLUDING BRITANNIA MINING SOLUTIONS AND PARAGON GEOCHEMICAL

Britannia Life Sciences Inc. and its subsidiary, Britannia Mining Solutions Inc. (BMS), have provided an update on mining operations, including Paragon Geochemical, and the commissioning of BMS's first PhotonAssay unit in Hamilton, Ont., before calendar year-end 2023.

BMS is pleased to have secured 12 PhotonAssay units representing a significant share of the units deployed and soon to be deployed globally. PhotonAssay is an innovative technology that delivers faster, safer and more accurate gold, silver and copper analysis in an environmentally friendly alternative to conventional fire assays. The PhotonAssay technology has been adopted by some of the world's largest and most respected mining companies, including Barrick Gold, further validating it as the future industry benchmark for minerals analysis.

BMS is currently in the process of installing its first PhotonAssay unit in a newly built lab located in Hamilton. The new lab spans over 11,000 square feet and is strategically located adjacent to the Hamilton International Airport and within an hour's drive from Lester B. Pearson International Airport. This location makes it easily accessible for exploration, development and mining companies in Ontario, Quebec and Eastern Canada -- including key projects in Newfoundland -- seeking faster turnaround time, accurate results and ESG (environmental, social, governance) benefits provided by cutting-edge PhotonAssay technology.

Additionally, BMS has been contacted by numerous mining, exploration and development companies that operate outside of North America. Faced with long wait times for assay results, and already accustomed to sending their samples to far-off assay labs, these companies are willing to ship their samples great distances in order to get faster, more accurate results.

"Paragon has made significant improvements on optimizing processes and augmenting staffing, as well as additional investment in equipment and a commitment to continual improvements to quality assurance/quality control, that continues to see it deliver the best turnaround times in the region," said Shaun Compton, managing director, BMS.

Paragon has a strong team that provides an important backbone for BMS's North American operations with the ability to provide a full range of services, including fire assay, full geochemical analyses and specialized services, including carbon and sulphur testing.

It is anticipated that BMS will adopt the Paragon brand once the PhotonAssay unit in Hamilton, Ont., becomes operational in December, 2023. BMS's second PhotonAssay unit is expected to be deployed in the Greater Vancouver area during the first quarter of 2024.

About Britannia Life Sciences Inc.

Britannia Life Sciences is a company focused on introducing cutting-edge technologies into the traditional laboratory and regulatory platforms to power data-driven insights to improve the outcomes of its customers. Britannia provides services to the consumer products sector, including an integrated suite of services to assist companies along their product development journey. Britannia's services, including product formulations, safety assessments, analytical and microbiological testing, global compliance, and consumer evaluations, are offered to companies ranging from multinationals to start-ups particularly in the cosmetics, food and wellness industries. Britannia also provides geochemical testing and analysis to the natural resources industry through its subsidiary Britannia Mining Solutions. Britannia's head office is located at 120 Adelaide St. West, suite 2400, Toronto, Ont., M5H 1T1.

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