Dr. Kaihui Yang reports

CANADIAN NORTH RESOURCES RECEIVES $2,155,794 FROM EXERCISE OF WARRANTS FROM MAJOR SHAREHOLDERS

KRE Development Co. Ltd., the biggest shareholder of Canadian North Resources Inc., has elected to exercise its warrants. KRE is an investment company registered in Ontario, Canada, owned by two directors of the company.

KRE exercised 1,437,196 share purchase warrants (each a warrant to purchase one share at $1.50) for aggregate proceeds of $2,155,794. Warrants were issued in connection with the company's offering of units completed prior to listing. The balance of the outstanding warrants are exercisable until Dec. 29, 2023.

The exercise of warrants by KRE signifies a strong vote of confidence in the company by insiders, providing a positive signal to shareholders, and reinforcing the company's financial stability and growth prospects.

About Canadian North Resources Inc.

Canadian North Resources is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100-per-cent-owned Ferguson Lake nickel, copper, cobalt, palladium and platinum project that covers an area of 253.8 square kilometres of mining leases (96.9 square km) and surrounding exploration claims (156.9 square km) in the Kivalliq region of Nunavut, Canada.

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