Ms. Emma Fairhurst reports

EARLY WARNING NEWS RELEASE ISSUED PURSUANT TO NI 62-103 ACQUISITION OF UNITS OF GOLCAP RESOURCES CORP.

This news release is being disseminated by Emma Fairhurst (the acquiror) pursuant to National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the acquisition of certain common shares of Golcap Resources Corp. (the issuer), a British Columbia corporation whose common shares are listed for trading on the Canadian securities Exchange under the symbol GCP.

On Aug. 17, 2023, the acquiror acquired four million units at a price of six cents per unit for proceeds of $240,000. Each unit consists of one common share and one warrant. Each warrant is exercisable to purchase one further common share at a price of 7.5 cents for a period of five years from closing (the transaction).

This transaction represents an increase of 27.95 per cent in the acquiror's securityholding percentage in the issued and outstanding common shares of the issuer, or an increase of 43.69 per cent in the acquiror's securityholding percentage of the deemed outstanding shares of the issuer assuming exercise of the warrants held by the acquiror.

Prior to the transaction, the acquiror owned and controlled 2,668,833 common shares of the issuer representing 28.67 per cent of the then issued and outstanding common shares of the issuer based on a total of 9,311,175 common shares outstanding as of Aug. 16, 2023.

Subsequent to the transaction, the acquiror owned and controlled 6,668,833 common shares of the issuer representing 46.60 per cent of the then issued and outstanding common shares of the issuer based on a total of 14,311,175 common shares outstanding as of Aug. 17, 2023; or 10,668,833 common shares of the issuer representing 58.27 per cent of the outstanding shares assuming exercise of the four million warrants held by the acquiror.

The acquiror has acquired the common shares for investment purposes and in accordance with applicable securities laws. The acquiror may, from time to time, acquire additional common shares and/or other equity, debt or other securities or instruments (collectively, securities) of the issuer in the open market or otherwise, and reserves the right, subject to applicable securities law, to dispose of any or all of its securities in the open market or otherwise at any time and from time to time, and to engage in similar transactions with respect to the securities, the whole depending on market conditions, the business and prospects of the issuer and other relevant factors.

A copy of the early warning report dated Aug. 17, 2023, to be filed by the acquiror in connection with the acquisition of the common shares of the issuer will be available on SEDAR+ under the issuer's profile. Copies of such reports will also be available from the acquiror upon written request to Ms. Fairhurst at 150-1350 Burrard St., Vancouver, B.C., telephone: 778-819-2709.