Mr. Jeff Swinoga reports

EXPLOITS MAKES NEW DISCOVERY WITH 67.55 G/T AU OVER 3.30 M WITH VISIBLE GOLD INCLUDING 254.08 G/T AU OVER 0.80 M AT "SADDLE ZONE"

Exploits Discovery Corp. has released initial results from recent diamond drilling operations at the company's Bullseye property, located along the Appleton fault zone (AFZ) in central Newfoundland. Results from the initial three drill holes have been received with assay values of up to 254.08 grams per tonne gold over 0.80 metre. This newly discovered mineralized zone has been named the Saddle zone.

The Saddle zone is located in the vicinity of the company's hole No. BE-23-028, where several clusters of quartz veining were intersected over approximately 18 metres of core (see news release dated Aug. 14, 2023). Visible gold was observed within a network of quartz veins in drill hole BE-24-015, with best reported assay value of 67.55 g/t Au over 3.30 m, which was drilled northwestward across the previous path of hole BE-23-028.

Highlights include:

• BE-24-015:
  • Intersected 67.55 g/t Au over 3.30 m core length from a swarm of quartz veins where multiple flecks of visible gold were observed, located at a vertical depth of approximately 85 m below surface;
  • Including 254.08 g/t Au contribution from a 0.80 m sample;
  • Intersected 2.89 g/t Au over 3.55 m core length, located at a vertical depth of approximately 80 m below surface;
  • Including 15.05 g/t Au contribution from a 0.45 m sample;
• BE-23-014:
  • Intersected 53.37 g/t Au over 0.60 m core length, located at a vertical depth of approximately 141 m below surface;
  • Intersected 32.71 g/t Au over 0.40 m core length, located at a vertical depth of approximately 164 m below surface;
• BE-24-013:
  • Intersected 35.82 g/t Au over 0.90 m core length, located at a vertical depth of approximately 105 m below surface;
  • Including 78.99 g/t Au contribution from a 0.40 m sample;
• The Saddle zone appears to remain open in all directions.

Jeff Swinoga, president and chief executive officer, commented: "On our first three drill holes, we are very excited to hit high-grade gold intercepts with visible gold readily observed. Our team first discovered the mineralization of this northeast interpreted splay branching off the Appleton fault, when our drill program last year reported gold intercepts in holes 28 and 30 that appeared to line up. After completing a deep-dive analysis into all available geological and technical information, ranking numerous opportunities and using televiewer to assist in drill design orientation, we announced this focused drill program, and we are very encouraged by its early results.

"With 10 kilometres of claims on the Appleton fault zone, a talented, all-local team based in historic Gander, Nfld. (a 30-minute drive to our project), available infrastructure, well-funded and large supporting shareholders such as Eric Sprott and New Found Gold, our goal is to be the next large successful gold exploration company in the beautiful province of Newfoundland and Labrador."

Bullseye gold property

The Bullseye claims were staked by Exploits in September, 2022, and are contiguous to New Found Gold Corp.'s Queensway project. The claims are considered by the company's geologists to be highly prospective because they directly overlie a 1,200-metre-by-800-metre segment of the AFZ and its related splay structures.

Quality assurance/quality control (QA/QC)

All 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 the company's 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 currently analyzed at Eastern Analytical Ltd. 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 grams) with AA finish (Au-FAA 30-part-per-billion process) and/or a four-acid digestion followed by multielement ICP-OES analysis. All samples with visible gold or assaying above 10.0 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Metallic screen assays are reported as weighted averaged parts per billion directly calculated from the lab.

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

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