Mr. Charn Deol reports

CARAVAN ENERGY TO ACQUIRE ADDITIONAL RARE EARTH PROPERTIES IN BRITISH COLUMBIA

Caravan Energy Corp. has entered into an agreement dated Sept. 22, 2023, to acquire additional total rare earth oxide properties located near Prince George, B.C., composed of a total of five mineral claims, totalling 6,449 hectares.

Pursuant to an agreement with the vendor thereof, the company has agreed to acquire five mineral claims in consideration for $50,000 in cash, 100,000 common shares of the company and the grant of a 2-per-cent net smelter return royalty (subject to the company's right to buy back 50 per cent of the NSR royalty for $1-million). The consideration shares will be subject to a four-month-and-one-day hold period from the date of closing pursuant to applicable securities laws.

The consideration shares will be issued at a deemed value of 77 cents per share, being the closing price of the company's common shares on Sept. 22, 2023.

The vendor is acting at arm's length to the company, and closing is subject to customary closing conditions.

The company has agreed to pay, upon completion of the acquisition, a finder's fee of 16,494 common shares, being equal to 10 per cent of the total consideration value paid pursuant to the acquisition, to an arm's-length party. The finder's fee shares will be subject to a four-month-and-one-day hold period pursuant to applicable securities laws.

About Caravan Energy Corp.

The company is a mineral exploration company based in Vancouver, B.C., and holds options over the EBB nickel-cobalt property located in British Columbia, Canada.

We seek Safe Harbor.