Mr. Joness Lang reports

CANTER RESOURCES CLOSES FINAL TRANCHE OF ITS NON-BROKERED PRIVATE PLACEMENT

Canter Resources Corp. has closed the final tranche of its non-brokered private placement raising gross proceeds of $250,000 through the issuance of 500,000 units at 50 cents per unit. The company has raised a total of $3,450,700 in both tranches of the offering through the issuance of a total of 6,901,400 units (see press release dated Dec. 21, 2023).

"We are fully funded to execute on our phase I exploration program at the Columbus lithium-boron project and expect to provide updates on our permitting and next steps in the field very shortly," stated chief executive officer Joness Lang.

Each unit consists of one common share in the capital of the company and one-half of one transferrable common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at a price of 70 cents for a period of two years from the closing of the offering.

In the event that the closing price of the shares of the company on the CSE (Canadian Securities Exchange) (or such other stock exchange on which the shares are traded) is equal to or greater than 95 cents per share for a period of five consecutive trading days during the warrant exercise period, the company may at its option elect to accelerate the expiry of the warrants by providing notice to the holders thereof within 10 calendar days following the end of such five consecutive trading day period, in which case the warrants will expire on the date specified in such notice, which shall be not less than 30 calendar days following delivery of such notice.

The warrants were issued pursuant to a warrant indenture dated Dec. 21, 2023, entered into between the company and Odyssey Trust Company, as warrant agent.

Joness Lang, chief executive officer and a director of the company, purchased 37,000 units in the offering. Mr. Lang also purchased 125,000 units in the first tranche for a combined total of 162,000 units. The participation by Mr. Lang in the offering constituted a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions.

The company paid finders' fees of $7,000 cash and 14,000 finders' warrants in connection with the closing of the final tranche of the offering. The finders' warrants are exercisable at 50 cents per share until the expiry date.

The company will use the net proceeds from the offering to complete phase I drilling and exploration work at the Columbus lithium-boron project, evaluate and stake additional claims prospective for critical metals, and for general corporate purposes, including salaries, consulting fees, legal and accounting fees, and investor relations expenses.

All securities issued in connection with the offering are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

About Canter Resources Corp.

Canter Resources is a Canadian junior mineral exploration company advancing the Columbus lithium-boron project in Nevada, the Beaver Creek lithium property in Montana and the Puzzle Lake property in Saskatchewan, Canada. The company is preparing for a phase I drill campaign at Columbus to test a highly prospective lithium-brine target and plans to leverage the company's critical metals targeting database to generate a portfolio of high-quality projects with the aim of defining mineral resources that support the domestic clean energy supply chain in North America.

We seek Safe Harbor.