Mr. Jamie Spratt reports

OMEGA AND KIRKLAND WEST PROPERTIES REVERT TO 100% OWNERSHIP BY MISTANGO

Agnico Eagle Mines Ltd. and Mistango River Resources Inc. have agreed to terminate the exploration earn-in and option agreement on the company's Omega mine project and Kirkland West project properties, with Mistango maintaining its 100-per-cent interest in the properties.

"Mistango has appreciated and valued our partnership with Kirkland Lake Gold and, subsequently, Agnico Eagle. We are excited to be back in the driver's seat for our Kirkland Lake portfolio, where we see great value in owning strategic assets in a camp that has seen over 40 million ounces of gold production," said Jamie Spratt, Mistango's chief executive officer.

Investors should be reminded that the Omega project has a National Instrument 43-101 compliant gold resource of 219,808 ounces indicated at 1.39 grams per tonne and 365,400 ounces inferred at 2.42 grams per tonne (R. Webster and C. Pitman, 2013). Historic production between 1935 and 1947 was estimated at 215,000 ounces of gold at 5.41 grams per tonne (H. Hinse, 1986). Omega also sits next to the Kerr-Addison mine, one of Canada's largest gold mines, producing over 12 million ounces of gold over a 58-year period ending in 1996 (MNDM OFR5831).

Mistango's 43-square-kilometre Kirkland West property also sits directly next to the Macassa mine, which produced 6.3 million ounces of gold from 1933 to 2022 (MNDM OFR6403). Exploration to date on the Kirkland West property has indicated that the major regional structures, including the Amalgamated and Main breaks, converge with the Cadillac/Larder Lake break on the Kirkland West property.

Both Omega and Kirkland West have untapped exploration potential, and the company looks forward to creating value through further exploration and evaluating all of its options in the best interest of shareholders.

About the Omega mine project

Located in the prolific Kirkland Lake/Cadillac/Larder Lake break, Omega is 30 kilometres east of Kirkland Lake and three kilometres east of Larder Lake along Highway 66.

Omega has an NI 43-101 compliant indicated gold resource of 219,808 ounces at 1.39 grams per tonne and an inferred gold resource of 365,400 ounces at 2.42 grams per tonne (R. Webster and C. Pitman, 2013). The most recent resource estimate was completed by prior management of the company in July, 2013, and is therefore being treated as historic by Mistango.

The project historically produced 215,000 ounces at an estimated grade of 5.41 grams per tonne (H. Hinse, 1986). Omega also sits adjacent to the Kerr-Addison mine, which produced 12 million ounces between 1938 and 1996 (MNDM OFR5831).

Historical infrastructure on the closure of the mine consisted of two shafts 305 metres (1,000 feet) and 457 metres (1,550 feet) deep and a winze down to 610 metres (2,000 feet). The two shafts have been capped. All other surface infrastructure has been removed.

Kirkland West project

Kirkland West spans 43 square kilometres and is 10 kilometres west of the town of Kirkland Lake. The property shares a border with the Macassa mine, owned by Agnico Eagle. The Macassa mine has produced over 6.3 million ounces of gold from 1933 to 2022 (MNDM OFR6403). Agnico Eagle's Upper Beaver project, currently in development, is also located next to Kirkland West.

Major structures, including the Amalgamated and Main breaks, converge with the Cadillac/Larder Lake break on the Kirkland West property.

The Kirkland West property is made up of two main zones: the Baldwin zone and the Eby zone.

Baldwin mine: A shaft from 1929 with four levels to a depth of 127 metres exists with lateral development of 1,177 metres. Historical production resulted in gold grades of approximately 15 grams per tonne. The zone contains narrow, high-grade gold-quartz veins up to 0.6 metre thick. This zone requires follow-up drilling to test the convergence of the major structures.

Eby zone: Historical drilling showed narrow, high-grade gold-quartz veins in northwest-trending porphyry and volcanic surrounded by low-grade but anomalous gold in wallrocks up to 26.1 metres grading 0.34 gram per tonne gold.

Qualified person statement

The technical information in this news release has been reviewed and approved by Antoine Schwartzmann, PGeo, a qualified person as defined in NI 43-101, Standards of Disclosure for Mineral Projects.

About Mistango River Resources Inc.

Mistango is a Canadian-based exploration company with a 100-per-cent interest in two prospective properties in Kirkland Lake, Ont. The Omega property is located in Larder Lake, surrounded by Mag Silver's Larder Lake property and on trend from the Kerr-Addison mine, which historically produced 11 million ounces. The Kirkland West property is contiguous with Agnico Eagle's operating Macassa mine; and exploration conducted on the property has shown that major structures, including the Amalgamated and Main breaks, converge with the Cadillac/Larder Lake break on the Kirkland West property. The company is exploring at its Goldie project, 50 kilometres west of Thunder Bay, within the Shebandowan greenstone belt.

We seek Safe Harbor.