Mr. Jeff Swinoga reports

EXPLOITS ANNOUNCES HIGH GOLD GRAIN COUNTS IN EXPANDED TILL SURVEY ON GAZEEBOW SOUTH PROPERTY

Exploits Discovery Corp. has further results from its till sampling program recently conducted on its 100-per-cent-owned Gazeebow South property located along the Appleton fault zone (AFZ) in central Newfoundland. The elevated number of gold grains from this expanded program highlights the potential for the northern Appleton fault zone and related splays to be a source of gold mineralization on the Gazeebow South property.

Highlights include:

• This expanded till program further indicates that the three previously announced areas (Sept. 28, 2023) along the Appleton fault zone continue to show elevated gold grain counts, reaching up to 14 times greater than the area's background levels.
• Infill sampling for this expanded program was conducted at 200 metres by 200 metres, with select local grids conducted at 100 metres by 100 metres.
• Recent additional anomalous samples include:
  • 141 total gold grains, of which 68 (48 per cent) are classified as modified (28) or pristine (40);
  • 122 total gold grains, of which 20 (16 per cent) are classified as modified (10) or pristine (10);
  • 86 total gold grains, of which 30 (35 per cent) are classified as modified (11) or pristine (19);
  • 83 total gold grains, of which 14 (17 per cent) are classified as modified (nine) or pristine (five).

Jeff Swinoga, president and chief executive officer, commented: "Results from our expanded till survey program continue to be impressive and increase our belief that gold mineralization continues northwards on the Appleton fault zone. Over the past four years, there have been 22 gold zones discovered over a 14-kilometre stretch of the Appleton fault zone just south of our large Gazeebow property. Our Gazeebow property has seven kilometres of the northern Appleton fault zone (approximately five times more than our Bullseye property). These results further indicate the district-scale potential of this region of central Newfoundland. We intend to continue to develop drill-ready targets on Gazeebow for 2024 to potentially create a pipeline of gold discoveries in the future.

"With respect to our Bullseye property, we expect to report assay results in the coming weeks from our recently completed 2,500-metre drill program that was designed to test the eastern extension of New Found Gold's recently discovered Jackpot zone. Our neighbours continue to build on their successful track record within the Appleton system with the announcement of their newest gold discovery called Honeypot sitting approximately 300 metres north of Jackpot and within 100 metres of our claim border at Bullseye. These are exciting times as five new gold zones have been discovered within the past year along a one-kilometre segment of the Appleton fault zone."

Ottawa-based Overburden Drilling Management (ODM) was retained to process the till samples, extract and describe the gold grains. Mike Michaud, PGeo, vice-president of ODM, commented: "The till sample processing to date has identified a property background of zero to 10 pristine plus modified gold grains per sample in the survey area on the Gazeebow South property. ODM considers till samples to be anomalous if they yield at least two to three times background levels. Samples in three discrete areas meet this anomaly threshold ranging up to 14 times background of total gold grains. Many of the anomalous gold grain counts have been corroborated by neighbouring samples with anomalous or elevated counts. Based on this extended program results, there is room for follow-up sampling to further define the anomalies and trace glacial dispersion."

Till sampling is used to vector mineral exploration targeting by testing material that has been eroded and directly deposited from source outcrop containing gold and other heavy minerals. Till production through glacial erosion and deposition provides a larger target area than the surface expression of the target helping to minimize the search area over large areas of land.

This till sampling program was designed to appraise the levels of gold endowment associated with the interpreted Appleton fault zone that transects the Gazeebow South property. Samples were collected at 500-metre-by-500-metre gridded pattern. The company has commenced follow-up till sampling on 100-metre spacings to better define the extent of the anomalies and identify the source of the gold.

The Gazeebow South claims were staked by Exploits in October, 2022, and are considered by the company's geologists to be highly prospective because they overlie a 7.4-kilometre segment of the Appleton fault zone and its related splay structures.

Quality assurance/quality control (QA/QC)

Till sampling programs are consistent with National Instrument 43-101 and CIM (Canadian Institute of Mining, Metallurgy and Petroleum) best practices. Till samples are collected from hand-dug pits that extend down to the C soil horizon, approximately one metre to two metres deep. Approximately 12 kilograms of sample material are sieved through a minus-eight-millimetre (one-quarter inch) mesh and placed in a sample bag with unique sample tag. All sampling equipment is thoroughly cleaned between samples.

Till samples are processed by Overburden Drilling Management of Nepean, Ont. ODM uses custom gravity concentration, including shaking tables and micropanning of the resulting heavy mineral concentrates to recover gold grains from the samples. Any gold grains present are extracted for microscopic study to determine the morphology and dimensions of the grains.

NI 43-101 disclosure

Ken Tylee, PGeo, vice-president of exploration with Exploits, is a qualified person within the provinces of Ontario and Newfoundland and Labrador 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.

Exploits is utilizing its experienced, talented local team and geologic understanding with the vision to become one of the most successful explorers in Canada.

Acknowledgments

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

We seek Safe Harbor.