Mr. John Gomez reports

INOMIN DRILLS 23% MAGNESIUM AND 0.19% NICKEL OVER 179 METRES AT BEAVER SOUTH CONFIRMING LARGE DEPOSIT POTENTIAL

Drilling at the South and Ring zones of Inomin Mines Inc.'s Beaver-Lynx critical minerals project continues to intersect high-grade magnesium and nickel over long intersections. South zone drill hole B23-03, located 100 metres north of hole B23-02, intersected 23 per cent magnesium with 0.19 per cent nickel over 179.2 metres (m), the longest intersection from drilling in the South zone to date. Drill hole B23-04, testing the eastern portion of the Ring zone 2.3 kilometres northeast, intersected 22.3 per cent magnesium with 0.18 per cent nickel over 112.2 metres, with mineralization beginning at bedrock surface.

"Inomin's spring drilling at Beaver has confirmed the discovery of a large magnesium-nickel mineralized body at the South zone and achieved the best drilling result from the Ring zone to date," says John Gomez, president of Inomin. "Our exploration has grown discoveries at Beaver to six potentially large deposits and confirms the project's excellent potential for hosting near-surface, bulk-tonnage deposits. We've also identified new prominent exploration targets to continue to increase Beaver's mineral footprint. Additionally, we have several compelling targets at the yet to be drilled Lynx area. If drilling at Lynx achieves results comparable to Beaver, we are looking at a district-scale critical minerals system."

The spring drill program drilled a three-hole fence across the strongly magnetic area defining the South zone. Drilling intersected magnesium-nickel mineralization in two shallowly south-dipping bodies with a combined estimated true thickness of 160 metres, with thickness increasing to the north. Historic drill holes BN14-12 and BN14-19, drilled approximately 120 metres west of the 2023 drill holes, intersected 21 per cent magnesium and 0.18 per cent nickel over 86 m and 22.3 per cent magnesium and 0.18 per cent nickel over 147.8 metres, respectively.

The current density of drilling at the South zone has defined an approximate 150-metre-by-200-metre-by-160-metre body containing fairly consistently distributed magnesium and nickel mineralization. Magnetics suggests that mineralization likely extends an additional 250 metres to the north, 120 metres to the south and 225 metres east of current drill testing.

The Ring zone is a 1,500-metre-by-1,800-metre ring-shaped magnetic zone, 500 metres northeast of the South zone. The 2023 drilling results are relatively in line with the company's 2021 drilling results, characterized by long intersections of consistently distributed near-surface mineralization.

Future drilling at Beaver-Lynx will focus on additional targets at Beaver and maiden drilling at the 13,610-hectare Lynx area located 10 kilometres south of Beaver. Lynx is geologically similar to Beaver with even more and larger prospective mineral targets. Airborne magnetics delineated numerous strong linear magnetic anomalies often extending multiple kilometres in length. Like the Beaver area, the Lynx property shows potential for hosting several bulk-tonnage magnesium-nickel deposits. Initial exploration completed at Lynx consists of prospecting as well airborne and ground magnetic surveys.

Laboratory analysis of drill core

Drill core was analyzed using Actlab's FUS-Na2O2 20-element sodium peroxide fusion inductively coupled plasma optical emission spectroscopy method. Samples were dried, crushed (less than seven kilograms) to 80 per cent passing two millimetres (10 mesh), riffle split 250 grams and pulverized (mild steel) to 95 per cent passing 105 micrometres (150 mesh), including cleaning the pulverizer bowl with sand after each sample (method code RX1). Samples were then digested with a sodium peroxide fusion, acid dissolution followed by ICP-OES finish.

Conventional quality assurance/quality control protocols were adopted in the field including the introduction of field standards and blanks in the sample stream to the laboratory.

About Beaver-Lynx critical minerals project

The Beaver-Lynx property, comprising approximately 22,600 hectares, is ideally located in south-central British Columbia, 50 kilometres from the city of Williams Lake and just 15 kilometres east of the Gibraltar mine, a large, open-pit mining operation grading approximately 0.27 per cent copper equivalent. Beaver-Lynx is easily accessible by good all-season roads, and is close to hydroelectric power, as well as active railway lines. Inomin owns a 100-per-cent interest in the project with no encumbrances.

Drilling programs at Beaver have delineated six large zones containing high-grading magnesium and other critical minerals, primarily nickel, as well as chromium and cobalt. Numerous highly prospective targets exist that have yet to be drill tested.

Conference participation

Inomin will be participating at the following investor events:

• Capital Tides Vancouver Cruise, Vancouver, B.C. -- Sept. 29, 2023;
• Vancouver Resource Investment Conference (booth No. 223), Vancouver, B.C. -- Jan. 21 to 22, 2024;
• PDAC (booth No. 2751), Toronto, Ont. -- March 5 to 8, 2024.

Inomin Mines director L. John Peters, PGeo, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.

About Inomin Mines Inc.

Inomin Mines is focused on the identification, acquisition and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver projects. Inomin trades on the TSX Venture Exchange under the symbol MINE.

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