Mr. Lorne Sugarman reports

IOCASTE VENTURES INC. ANNOUNCES RESIGNATION OF BOARD MEMBER

Navjeet (Bob) Singh Dhillon has resigned from the board of directors of Iocaste Ventures Inc. and as a member of its audit committee, effective immediately. The board would like to thank Mr. Dhillon for his contribution and wish him well in his future endeavours.

The board has appointed Lorne Michael Sugarman, a director and the president, chief executive officer, chief financial officer and corporate secretary of Iocaste, as an audit committee member. The audit committee currently consists of Michael James Perkins, Andrew Gabriel Kiguel, and Mr. Sugarman. Each member of the audit committee is financially literate, with Mr. Perkins and Mr. Kiguel comprising its independent members.

The board will assess whether it will appoint a new member to fill the board vacancy before the next annual meeting of shareholders.

About Iocaste Ventures Inc.

Iocaste is a capital pool company that completed its initial public offering in November, 2021. The common shares of Iocaste are listed for trading on the TSX Venture Exchange under the stock symbol ICY.P. Iocaste has not commenced commercial operations and has no assets other than cash.

We seek Safe Harbor.