Mr. Michael Thompson reports

KESSELRUN RESOURCES TO RECEIVE C$200,000 GRANT FROM THE ONTARIO JUNIOR EXPLORATION PROGRAM

Kesselrun Resources Ltd. has been selected to receive up to $200,000 from the Ontario government's Junior Exploration Program (OJEP), which will be used to finance geophysical and geological surveys of the 100-per-cent-owned 9,100-hectare Bluffpoint gold project located approximately 50 kilometres northeast of New Gold's Rainy River gold mine.

"We know that the continued prosperity of Ontario's mining sector depends on early exploration to discover the mines of the future," said George Pirie, minister of mines. "Supporting junior mining companies like Kesselrun Resources creates meaningful economic opportunities in northern and indigenous communities, which will improve global competitiveness and demonstrates that Ontario's mining sector is thriving."

Michael Thompson, president and chief executive officer of Kesselrun, commented: "We are very pleased to have been selected as a recipient of OJEP funding in 2023. This funding is vital to supporting grassroots exploration of mineral projects throughout Ontario. The OJEP funding shall offset the exploration costs at our Bluffpoint gold project. Crews have been deployed to Bluffpoint and are in the process of completing the work this fall. Results of the geological and geophysical surveys are expected to yield multiple targets for field follow-up during the 2024 summer field season."

Qualified person

Mr. Thompson, PGeo, president and chief executive officer of Kesselrun, is the qualified person responsible for the project as defined by National Instrument 43-101 and has approved the technical information in this news release.

About the Bluffpoint gold project

The 100-per-cent-owned, 9,100-hectare, Bluffpoint gold project is located approximately 50 kilometres northeast of New Gold's Rainy River gold mine. The project hosts two distinctive geological areas, the Bluffpoint and the Straw Lake targets, both of which host both high-grade and bulk-tonnage type targets which remain largely underexplored.

About Kesselrun Resources Ltd.

Based in Thunder Bay, Ont., Kesselrun Resources is a mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise in Northwest Ontario.

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