Mr. Eric Roth reports

FINANCING UPDATE

Capella Minerals Ltd. has received TSX Venture Exchange acceptance to extend closing of the placement until Sept. 25, 2023. The private placement was previously announced (June 13, 2023) as a non-brokered private placement of up to 33 million units at a price of three cents per unit for gross proceeds up to $1-million.

All other terms of the private placement remain the same.

About Capella Minerals Ltd.

Capella is engaged in the acquisition, exploration and development of quality mineral resource properties in favourable jurisdictions with a focus on European base and battery metal projects.

In Norway, the company's focus is on: (i) the advanced-exploration-stage Hessjogruva copper-cobalt project and the adjacent Kongensgruve and Kjoli projects in the northern Roros mining district, Trondelag province; (ii) the discovery of satellite high-grade copper-cobalt deposits around the past-producing Lokken copper mine, Trondelag province; and (iii) the discovery of new copper-cobalt deposits in the former Vaddas-Birtavarre mining district of northern Norway.

The company is also exploring the Northern Finland gold-copper project in the Central Lapland greenstone belt, together with joint venture partner Cullen Resources Ltd. A total of five exploration permits have now been approved, including the priority Killero copper-gold target. In central Finland, the company's focus is on the discovery of lithium and rare earth element deposits at both its Perho reservation, in addition to an extensive package of properties in the broader Keliber district through a joint venture with European Energy Metals Corp. (formerly Hilo Mining).

Capella also retains exposure to exploration success in precious metal projects through its active Canadian joint ventures with Prospector Metals Corp. at Savant (Ontario) and Agnico Eagle Mines Ltd. (formerly Yamana Gold Inc.) at Domain (Manitoba). The company also holds a 49-per-cent interest in the Sierra Blanca low-sulphidation gold-silver project in Santa Cruz, Argentina, which is currently being explored by Austral Gold Ltd.

We seek Safe Harbor.