Mr. Eric Sprott reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS IN GOSSAN RESOURCES LIMITED

On May 17, 2023, 3.95 million common share purchase warrants of Gossan Resources Ltd. held by Eric Sprott expired unexercised, representing a decrease in holdings of approximately 5 per cent of the outstanding common shares on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these warrants, Mr. Sprott beneficially owned 7.9 million shares and 3.95 million warrants, representing approximately 11.8 per cent of the outstanding shares on a non-diluted basis and 16.7 per cent on a partially diluted basis assuming the exercise of such warrants. As a result of the warrant expiry, Mr. Sprott now beneficially owns 7.9 million shares, representing approximately 11.8 per cent of the outstanding shares on a non-diluted basis.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities, including on the open market or through private acquisitions, or sell the securities, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Gossan Resources is located at suite 404-171, Donald St., Winnipeg, Man., R3C 1M4. A copy of the early warning report with respect to the foregoing will appear on the company's profile on the System for Electronic Document Analysis and Retrieval and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario Ltd., 200 Bay St., suite 2600, Royal Bank Plaza, South Tower, Toronto, Ont., M5J 2J1).