Mr. Ken Konkin reports

GOLDSTORM METALS DRILLS 1.13 G/T GOLD WITH 6.02 G/T SILVER OVER 61.5 METERS AT THE ELECTRUM PROPERTY, IN NORTHWESTERN BRITISH COLUMBIA

Goldstorm Metals Corp.'s 2023 diamond drill exploration program has been successfully completed on its 100-per-cent-owned Electrum gold and silver property, located within the Golden Triangle region of British Columbia, Canada. Included in this release are the assay results from the first two drill holes.

The property is located north of, and adjacent to, Scottie Resources' claims, and along a well-defined trend of former gold-silver producers that includes Ascot's Premier mine to the south. The project area is road accessible from Stewart, B.C. The program at Electrum totalled 2,581 metres in 11 drill holes. The first two drill holes tested broad, intrusive-related stockwork zones of gold-silver mineralization, with the remaining holes testing multiple shear-hosted, high-grade precious metal and base metal veins. Results for the remaining nine drill holes will be published once they are obtained and evaluated.

Ken Konkin, PGeo, president and chief executive officer, commented: "Our team is very pleased with the results from the initial two holes that were completed on Goldstorm's maiden exploration drill program at Electrum. The holes intersected gold and silver mineralization typical of the grades that were reported in the discovery holes at Tudor Gold's Treaty Creek project, 35 kilometres to the north, particularly within the gold-dominant domains of the Goldstorm deposit. The originally discovered precious metal mineralization at Electrum underlies a prominent silicified knob, which was explored by historical drill holes that were oriented in the opposite direction from the newly discovered zone. Hole EL-23-01 contains significant gold mineralization with some anomalous silver at the bottom of the hole, while drill hole EL-23-02 ended in gold mineralization. Although the mineralized intercepts are approximately 200 m apart, the mineral continuity appears promising for this system. Further drilling is required to fully test this target laterally and to depth."

Drill hole results

EL-23-01

This hole targeted a broad, possibly porphyry-related area of gold-silver mineralization that had been observed in one historical drill hole. The first hole successfully intersected a stockwork vein system hosted within silicified, fine-grained volcanic rocks that averages 1.13 grams per tonne gold and 6.02 g/t silver over 61.5 m within a broader envelope of 0.77 g/t Au and 4.43 g/t Ag over 111.0 m.

EL-23-02

Drilled from the same location as EL-23-01, this hole was oriented steeply to cut moderately dipping veins at surface, and to explore for porphyry-related mineralization at depth. Near-surface mineralization was successfully intersected with a 37.3 m interval averaging 0.78 g/t Au and 1.65 g/t Ag. Farther down hole, a 149.0 m intercept returned 0.45 g/t Au and 3.20 g/t Ag. This hole ended in mineralization.

Qualified person

The qualified person for this news release for the purposes of National Instrument 43-101 is Ken Konkin, PGeo, president and chief executive officer. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

Quality assurance/quality control

Diamond drill core samples were prepared at MSA Labs' preparation laboratory in Terrace, B.C., and assayed at MSA Labs' geochemical laboratory in Langley, B.C. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Goldstorm Metals personnel. MSA's quality system complies with the requirements for the international standards ISO 17025 and ISO 9001. MSA Labs is independent of the company.

About Goldstorm Metals Corp.

Goldstorm Metals is a precious metals and base metals exploration company with a large strategic land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-grade gold deposits in the world. Goldstorm's flagship projects, Crown and Electrum, cover an area that totals approximately 16,469 hectares over seven concessions, of which six are contiguous. The Crown project is situated directly south of Seabridge Gold's KSM gold-copper deposits and Newcrest Gold's Brucejack/Valley of the Kings gold mine. Electrum, also located in the Golden Triangle of British Columbia, is situated directly between Newmont Corp.'s Brucejack mine, approximately 20 kilometres to the north, and the past-producing Silbak Premier mine, 20 kilometres to the south.

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