Mr. Kaihui Yang reports

CANADIAN NORTH RESOURCES INC. ANNOUNCES NORMAL COURSE ISSUER BID SHARE

Canadian North Resources Inc. has filed with the TSX Venture Exchange a notice of intention to make a normal course issuer bid (NCIB), which is proposed to commence on April 10, 2024, and terminate on April 9, 2025, or the earlier of the date all shares that are subject to the normal course issuer bid are purchased.

In the opinion of the board of directors of the company, the market price of the common shares does not accurately reflect the value of those shares. As a result, the company intends to repurchase Canadian North's common shares that may become available for purchase at prices, which make them an appropriate use of funds of the company.

The company intends to attempt to acquire up to an aggregate of 5,726,380 of its common shares over the next 12-month period, representing approximately 5 per cent of the issued and outstanding common shares of Canadian North.

Purchases subject to the NCIB will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange and the price that the company will pay for the common shares acquired by it will be the market price of the common shares at the time of acquisition. PI Financial Corp., Calgary, Alta., will conduct the NCIB on behalf of the company. All common shares purchased by Canadian North under the NCIB will be cancelled.

The foregoing proposed NCIB is subject to regulatory approval.

Qualified person

The technical contents of this news release have been reviewed and approved by Dr. Trevor Boyd, PGeo, a qualified person as defined by Canadian National Instrument 43-101 standards.

About Canadian North Resources Inc.

Canadian North 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 in the Kivalliq region of Nunavut, Canada.

The Ferguson Lake mining property contains a substantial National Instrument 43-101-compliant mineral resource estimate announced on March 19, 2024, which including indicated mineral resources of 66.1 million tonnes containing 1,093 million pounds copper at 0.75 per cent, 678 million pounds nickel at 0.47 per cent, 79.3 million pounds cobalt at 0.05 per cent, 2.34 million ounces palladium at 1.10 grams per tonne (g/t) and 419,000 ounces platinum at 0.19 g/t, and inferred mineral resources of 25.9 million tonnes containing 558 million pounds copper at 0.98 per cent, 333 million pounds nickel at 0.58 per cent, 39.6 million pounds cobalt at 0.07 per cent, 1.192 million ounces palladium at 1.43 g/t and 205,000 ounces platinum at 0.25 g/t. The mineral resource model indicates significant potential for resource expansion along strike and at depth over the 15-kilometre-long mineralized belt.

This updated mineral resource incorporates the recent 39,270 metres of diamond drilling in 145 holes completed by the company. (Refer to the news release titled, "Canadian North Resources Reports Substantial Increase of Copper, Nickel, Cobalt, Palladium and Platinum NI 43-101 Compliant Mineral Resources for its 100% owned Ferguson Lake Project in Canada," dated March 19, 2024, available on the company's website and on SEDAR+. The technical report on the resource estimates, which is being prepared in accordance with NI 43-101, will be available on SEDAR+ under the company's issuer profile within 45 days.) The effective date of the current mineral resource statement is March 19, 2024.

We seek Safe Harbor.