Mr. Farshad Shirvani reports

CASA MINERALS INC. REPRICES WARRANTS, EXTENDS EXPIRY DATE, AND PROPOSES EXERCISE INCENTIVE PROGRAM

Casa Minerals Inc. intends to update an aggregate of 21,014,200 common share purchase warrants issued during its May 20, 2021, private placement. The company's intentions are to extend the expiry date, reprice the warrants and issue incentive warrants for exercised warrants.

The warrants have an exercise price of 30 cents and expiry dates of May 20, 2023 (16.4 million warrants), June 24, 2023 (3.6 million warrants) and July 8, 2023 (1,014,200 warrants). Management believes that extending the expiry date for three months and repricing the warrants should encourage their exercise to help finance work programs planned for this field season at the company's projects. The new expiry dates of the warrants are as follows:

• May 20, 2023, will expire on Aug. 18, 2023.
• June 24, 2023, will expire on Sept. 20, 2023.
• July 8, 2023, will expire on Oct. 6, 2023.

The warrants will be deemed to be amended to adjust their exercise price to 10 cents per share.

The amendment of the warrants is subject to approval of the TSX Venture Exchange.

The company also announces that once it obtains warrant amendment approval, it will institute a warrant exercise incentive program designed to encourage the exercise of the 21,014,200 amended warrants. Under the incentive program, the company will offer an inducement to each warrant holder that exercises their amended warrants by the above stated expiry dates of one additional common share purchase warrant for each warrant exercised. Each incentive warrant will entitle the holder to purchase one additional common share of the company at a price of 15 cents for a period of two years from the date of the warrant amendment approval and will be subject to a four-month-and-one-day hold period from their date of issuance.

The incentive program will commence upon receipt of warrant amendment approval.

About Casa Minerals Inc.

The company is engaged in the acquisition, exploration and development of mineral properties located in Canada and the United States. Casa owns 90-per-cent interest in the Congress gold mine (Arizona, U.S.) in the patented claims from 40 feet depth and beyond, and in addition the company owns undivided 100-per-cent interest in 25 claims (494.48 acres) of unpatented ground adjacent to the Congress gold mine. This historic high-grade gold-producing mine has not been explored or been in production since 1992. Additionally, the company owns a 100-per-cent interest in the polymetallic Pitman and Keaper properties (British Columbia, Canada) and has an option to acquire a 75-per-cent interest in the Arsenault volcanogenic massive sulphide property (B.C., Canada).

We seek Safe Harbor.