Mr. Ken Konkin reports

GOLDSTORM METALS DISCOVERS NEW HIGH-GRADE COPPER, GOLD AND SILVER ZONE WITHIN THE 100% OWNED CROWN PROJECT, LOCATED IN NORTHWESTERN BRITISH COLUMBIA, CANADA

Goldstorm Metals Corp. has released results from the company's summer reconnaissance program conducted on its 100-per-cent-owned Crown property, situated within the prolific Golden Triangle region of British Columbia. The property comprises five contiguous concessions (Orion, Fairweather, Delta, Mackie West and High North), covering approximately 15,819 hectares and situated adjacent and due south of both Seabridge Gold Inc.'s KSM property and Newmont's Brucejack gold mine.

During the 2023 exploration season, Goldstorm exploration geologists undertook a substantial reconnaissance program across various Crown concessions. This work comprised mapping and sampling, with particular emphasis placed on several newly exposed outcrops revealed by recent glacial recession. Work completed on the property included a total of 1,057 rock samples consisting of seven channel saw-cut samples, 284 chip samples and 766 grab samples. The attached tables contain results for some of the very promising discoveries found within the Orion area along a prominent north-trending silicified and gossanous ridgeline that measures 900 metres wide by 6,500 m long. Results from other zones sampled within the Crown project will be released once they are received and final interpretations are completed.

Within the Orion area, exploration efforts specifically targeted a new zone, known as Copernicus, along the upper Orion Spine. The gossanous area spans a 200-metre-wide-by-800-metre-long concentration of sulphide mineralization containing copper, silver, zinc and cobalt. Within this zone, 229 samples were collected, including a 0.25 m chip sample (A0519298) that yielded 0.67 gram per tonne gold, 320.0 g/t silver, 11.96 per cent copper, 0.088 per cent cobalt and 0.55 per cent zinc as well as a 0.5 m saw-cut channel sample (OR-23-01) that yielded 0.28 g/t gold, 226.0 g/t silver, 6.95 per cent copper, 0.079 per cent cobalt and 0.37 per cent zinc. A continuous channel sample line, comprising six samples (OR-23-02), averaged 0.14 g/t gold, 57.0 g/t silver, 1.71 per cent copper, 0.015 per cent cobalt and 0.15 per cent zinc over 5.15 m.

Ken Konkin, PGeo, president and chief executive officer, commented: "Mineralization and textures observed at the Copernicus zone closely resemble those found in volcanogenic massive sulphide (VMS) deposits such as the Granduc and Windy Craggy deposits, which are classified as Besshi-type VMS systems, with a comparable metallogenic assemblage to that at the Copernicus zone. However, it is very early in the exploration phase, and further mapping and sampling will be required to make final determinations on the characterization of the precious and base metal mineralization at our new discovery. Additional geological observations suggest that this mineralization may also have been remobilized and deposited along northerly tectonic shear systems parallel to the orientation of the Orion Spine. The Copernicus zone was traced for approximately 400 m along the upper Orion Spine. The company has constructed a drill pad to initiate a drill program as part of the 2024 exploration program on the Copernicus zone. Details of the proposed drilling will be determined prior to the 2024 drilling season."

Qualified person

The qualified person for this news release for the purposes of National Instrument 43-101 is the company's president and chief executive officer, Ken Konkin, PGeo. 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

All samples were prepared at MSALABS' preparation laboratory in Terrace, B.C., and assayed at MSALABS' geochemical laboratory in Langley, B.C. Gold was assayed using a fire assay with atomic absorption (AA) spectrometry finish. Samples over 10 parts per million gold were fire assayed with gravimetric finish. All samples were analyzed by four-acid digestion with multielement ICP-MS, with silver and base metal overlimits being reanalyzed by emission spectrometry. MSALABS' quality system complies with the requirements for the international standards ISO 17025 and ISO 9001. MSALABS is independent of the company.

About Goldstorm Metals Corp.

Goldstorm Metals is a precious metal and base metal 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 six concessions, of which five 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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