Mr. Ken Konkin reports

GOLDSTORM METALS UPSIZES NON-BROKERED PRIVATE PLACEMENT AND CLOSES FINAL TRANCHE FOR AGGREGATE GROSS PROCEEDS OF $2.3 MILLION

Goldstorm Metals Corp., further to its news releases dated Nov. 28, 2023, and Dec. 15, 2023, due to strong investor demand, has upsized and closed a second and final tranche of its previously announced non-brokered private placement for additional gross proceeds of $368,100 through the issuance of 2,045,000 non-flow-through (NFT) units sold at a price of 18 cents per NFT unit. Together with proceeds from the first tranche of the offering, the company raised an aggregate of $2,318,180 and issued an aggregate of 2,506,556 NFT units and 9,335,000 flow-through (FT) units of the company, sold at a price of 20 cents per FT unit.

Each NFT unit consists of one common share of the company and one-half of one common share purchase warrant. Each FT unit consists of one common share of the company, issued as a flow-through share within the meaning of the Income Tax Act (Canada), and one-half of one warrant. Each warrant entitles the holder to purchase one non-flow-through common share of the company at a price of 35 cents at any time on or before that date that is 24 months after the date of issuance. A total of 1,022,500 warrants were issued under the second tranche.

The net proceeds received from the sale of the NFT units are expected to be used for general working capital purposes.

No finder's fee, commission, bonus or other compensation was paid in connection with the second tranche.

The offering remains subject to final acceptance from the TSX Venture Exchange. All securities issued pursuant to the second tranche are subject to a hold period expiring on April 20, 2024, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

About Goldstorm Metals Corp.

Goldstorm Metals is a precious 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 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 B.C., 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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