Mr. Archie Nesbitt reports

MARKSMEN ANNOUNCES EXTENSION TO COMPLETE PRIVATE PLACEMENT AND PROVIDES OPERATIONAL UPDATE

Marksmen Energy Inc., further to its news releases issued on July 12, 2023, and Sept. 1, 2023, has been granted an extension by the TSX Venture Exchange to complete a second closing of its previously announced non-brokered private placement of units of Marksmen at a price of five cents per unit for gross proceeds of $350,000. The company expects to complete a second closing on or before Oct. 30, 2023.

Marksmen intends to use the net proceeds of $122,500 from the first closing of the offering to complete an upper zone in a well in Pickaway county in Ohio. In the following order, depending on the proceeds raised, Marksmen intends to use the net proceeds of the second closing of the offering for the balance of the completion of the upper zone in the well in Pickaway county for $27,500, additional surface equipment for $50,000, lease additional land associated with this well for $100,000 and the remaining $50,000 for working capital.

Completion of the offering is subject to regulatory approval, including, but not limited to, the approval of the TSX-V. The securities issued are subject to a four-month hold period from the date of issuance.

Marksmen has been delayed, due to service rig availability, in its completion of an upper zone at its HD2 well. It was originally scheduled for the week of Sept. 18, 2023, to Sept. 22, 2023. It is now planned to have the service rig arrive and rig up on Oct. 5, 2023, or Oct. 6, 2023. The other services that are or may be required, including cementing, logging and perforating, will commence operations on Oct. 9, 2023, and will take three to four days.

We seek Safe Harbor.