Mr. Vishal Gupta reports

CAPROCK CONDUCTS HIGH-RESOLUTION MAG SURVEY AT ACKLEY - CONFIRMS POTENTIAL FOR EXTENSIVE LITHIUM-BEARING ZINNWALDITE MINERALIZATION

Caprock Mining Corp. has released the results of a high-resolution, drone-based magnetics survey that was recently completed at its Ackley lithium-tin-molybdenum-REEs property located in southeastern Newfoundland.

Conclusions from the survey include:

• There is an extensive greisen zone directly associated with a large area of magnetic low at the contact between the intrusive granite and the meta-volcanic/meta-sedimentary country rock;
• The zinnwaldite mineralization so far identified from limited prospecting in this area occurs on the northern side of the contact between the intrusive granite and the large greisen zone;
• Zinnwaldite appears to be more directly associated with the intrusive granite but occurs proximal to the greisen zone;
• Both the greisen zone, and the contact between the granite and the greisen zone, were largely untested by the limited number of exploratory holes drilled in this area historically.

Caprock's chief executive officer, Vishal Gupta, states: "While this magnetics survey was limited to just the Deer Pond area and its vicinity which represents a very small portion of Ackley, these results corroborate our initial field interpretation that Ackley appears to contain a very large zone of greisen alteration which has the potential to host extensive lithium-bearing zinnwaldite mineralization. Our limited surface sampling to date indicates that the zinnwaldite is more directly associated with the granite, which in essence enlarges the target area for lithium mineralization several fold. While we await assay results for samples taken from a different area within the Main claim block at Ackley, we are very excited by the findings of this magnetics survey."

Details of the magnetics survey

An airborne UAV (unmanned aerial vehicle) survey using RTK terrain following was performed over the main greisen alteration zone covering the Deer Pond area and its vicinity during September, 2023. The survey was laid out to cover the target area with flight lines in both the north-south as well as the east-west directions in order to allow for a more detailed magnetometer map to be produced.

A figure in the original version of this news release provides a map of the surveyed area with details of (i) the resulting total field magnetic response from the survey, (ii) lithological interpretation of the magnetic response, and (iii) contextual correlation of survey results with recently sampled high-grade, lithium-bearing zinnwaldite mineralization on surface.

The company awaits additional confirmation of the zinnwaldite mineralization through detailed petrographic analysis of field samples.

About the Ackley property

Ackley comprises three claim blocks that collectively span an area of 4,550 hectares located less than a two-hour drive from St. John's. The claim blocks overlie portions of the contact zone of a large Devonian-aged granite complex with Proterozoic metasediments and volcanics, parts of which are greisened, or hydrothermally altered, that is similar in age and lithology to the Mount Pleasant deposit in New Brunswick and the East Kemptville deposit in Nova Scotia. Limited historical exploration work across the Main claim block by companies including Esso Minerals, American Zinc, Inco and others, discovered occurrences and anomalies of lithium, tin, molybdenum, tungsten and REEs.

Recent magnetometer survey work over part of the Main claim block indicates that the altered contact zone may be extensive, covering several square kilometres. Recent limited prospect sampling and historical Esso trenches across the Main claim block returned assays of up to 0.91 per cent lithium oxide, 5 per cent molybdenum, 0.67 per cent tin and 1 per cent to 5 per cent fluorine on surface. Newfoundland government survey maps of this region report some of the highest lake sediment values for REEs on the entire island.

About Caprock Mining Corp.

Caprock Mining is a Canadian mineral exploration company focused on exploring battery metals in Newfoundland and precious metals in Ontario.

The company has an option to earn a 100-per-cent interest in the Ackley lithium-tin-molybdenum-REE property located on the Burin peninsula in southeastern Newfoundland. Additionally, the company's 100-per-cent interest in several gold exploration properties gives it a substantial landholding in the historical Beardmore-Geraldton gold belt (BGB) of Ontario -- a belt that has produced over four million ounces of gold historically, and contains the world-class Greenstone gold project (formerly known as the Hardrock gold project), which is being brought to production by a joint venture partnership between Equinox Gold and Orion Mine Finance.

With an experienced management team that has a strong exploration pedigree, Caprock is poised to generate incremental shareholder value by advancing its portfolio of highly prospective exploration projects.

The scientific and technical information disclosed in this release has been reviewed and approved by Mr. Gupta, the company's president and CEO. Mr. Gupta is a PGeo registered with the Professional Geoscientists of Ontario (PGO), and a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

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