Mr. Ken Tylee reports

EXPLOITS ANNOUNCES ASSAY RESULTS FROM BULLSEYE DRILL HOLES BE-23-018 & BE-23-020 TO 029

Exploits Discovery Corp. has released assay results from diamond drill holes BE-23-018 and BE-23-020 to BE-23-029 on its 100-per-cent-owned Bullseye property located along the Appleton fault zone (AFZ), located approximately 200 metres east of New Found Gold's recently reported high-grade intercepts at its Everest gold zone in central Newfoundland.

Highlights include:

• BE-23-028 encountered several clusters of quartz veining over approximately 18 metres in core length as well as localized fault zones with associated sulphide enrichment.
• Extensive sampling of these zones has generated gold assays up to 14.59 grams per tonne gold.
• The results and location of BE-23-028 suggest the potential extension of gold mineralization at Everest, as reported by New Found Gold on May 10, 2023.
• Select intercepts from BE-23-028 include:
  • 4.08 g/t Au over 1.60 m (core length), located at a vertical depth of approximately 75 m below surface:
    • Including an 8.16 g/t Au contribution from a 0.70 m sample.
  • 4.85 g/t Au over 0.75 m (core length), located at a vertical depth of approximately 185 m below surface.
  • 14.59 g/t Au over one m (core length), located at a vertical depth of approximately 186 m below surface.
• Mineralization remains open in all directions.
• Assay results from 29 of the 30 drill holes have been received and publicly reported to date. The results from drill hole BE-23-030 are pending.

Ken Tylee, vice-president of exploration, commented on hole No. 28: "We are excited to see several clusters of veining up to 18 metres in length hosting locally anomalous gold values reaching 14 g/t. These intercepts suggest that hole 28 has encountered an extension of the Everest mineralized system announced by our neighbours on May 10, 2023, possibly tracking eastwards into our Bullseye claims. We will be looking to follow up these encouraging results as we plan for our second phase of drilling."

Bullseye (Horseshoe) interpretation

Mineralization at the Bullseye property is hosted within a fold-thrust sequence of northeast-striking, steeply dipping turbidite. These rocks were deposited and deformed during the closure of the Iapetus Ocean and subsequent continent-continent collision. The Appleton fault zone is a regional-scale deformation zone that developed during this period. The AFZ likely serves as a primary conduit for gold-bearing fluids. Brittle faults within the envelope surrounding the AFZ form a vast network of gold-rich quartz veins.

Visible gold has been noted within eight drill holes contributing to the locally high-grade intercepts. Several wide intervals of gold mineralization, in the one g/t to three g/t range, are linked to quartz veining with elevated sulphide content. Notable sulphide minerals, such as pyrite, arsenopyrite and boulangerite, have been observed within the veins and in the surrounding host rocks. Within the Horseshoe zone, visible gold is found in brecciated and locally annealed vuggy quartz veins, features characteristic of epizonal gold deposits.

Quality assurance/quality control

Prospective NQ core is logged and delineated for sampling by an Exploits professional geologist. The core is subsequently halved by a diamond-bladed core saw by company technicians, with one-half being placed in a bag with a unique sample identification. The remaining half core is retained within the company's secure storage facility in Gander, Nfld. Sample bags are sealed and then shipped directly to Eastern Analytical Ltd. Certified standards and blanks are inserted at defined intervals following the company's quality assurance/quality control documented procedures, representing approximately 5 per cent of all samples sent for assaying. All core samples are analyzed at Eastern Analytical, of 403 Little Bay Rd., Springdale, Nfld., a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits. Samples are analyzed using fire assay (30 g) with atomic absorption finish and/or a four-acid digestion followed by multielement ICP-OES analysis. All samples with visible gold or assaying above 10 g/t Au are further assayed, using metallic screen to mitigate the presence of the nugget effect of coarse gold.

National Instrument 43-101 disclosure

Ken Tylee, PGeo, vice-president of exploration at Exploits, is a qualified person, as defined by NI 43-101. Mr. Tylee has reviewed and approved the technical information presented herein.

About Exploits Discovery Corp.

Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. The company is focused on discovering high-grade, structurally hosted, epizonal gold similar to New Found Gold's success along the Appleton fault zone and parallel structures within the Exploits subzone.

Acknowledgments

Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the government of Newfoundland and Labrador.

We seek Safe Harbor.