Mr. Stephen Stewart reports

MISTANGO ANNOUNCES ANNUAL GENERAL MEETING AND OPTION GRANT

Mistango River Resources Inc.'s annual general and special meeting of shareholders will be held on Thursday, Oct. 19, 2023. More information on the meeting will be available in the company's management information circular, which will be posted on SEDAR+ in September.

Stock option grant

The company's board of directors has approved a grant of stock options to certain directors, officers and consultants of the company, allowing for the acquisition of up to, in the aggregate, 2.55 million shares of the company. The options are exercisable at a price of six cents per share for five years from the date of grant, vest one year from the date of grant and are subject to regulatory policies and approvals.

The grant of options to certain directors and officers is a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party matters, as the company is listed on the Canadian Securities Exchange and neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101).

About Mistango River Resources Inc.

Mistango is an exploration company focused on gold and copper in Ontario and Quebec. Mistango owns a range of assets in the Kirkland Lake district and the emerging Shebandowan gold district in Ontario. Mistango also owns copper assets located in Chibougamau, Que., and a portfolio of strategic investments, one of which is Metal Energy's Manibridge nickel mine, a historical production site previously operated by Falconbridge.

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