Mr. Brian Hinchcliffe reports

NORTH PEAK REPORTS WORK PROGRAMS AT PROSPECT MOUNTAIN SUPPORT INTERPRETATION OF DEEP-SEATED MINERALIZATION BELOW HISTORIC WORKINGS; DRILLING APPROVAL RECEIVED

North Peak Resources Ltd. has now completed the comprehensive geophysical surveys and geochemical sampling programs planned for its Prospect Mountain property in Eureka, Nev. Prospect Mountain has hosted many of the historic mining operations of the Eureka camp, on both its eastern and western flanks. The company completed over the summer months soil sampling, magnetotelluric and gravity survey exploration programs to define drilling targets across the potential carbonate replacement deposit (CRD) and Carlin-style mineralization complexes on the property and has integrated the data to finalize its plans for drilling.

Launched in June was a helicopter magnetotelluric (MT) survey which located a two-kilometre-long conductive anomaly directly beneath the old oxide gold, silver, lead and zinc stopes of the Diamond mine. A comprehensive gravity survey and a drone-based magnetic survey followed. The results of these surveys highlighted the MT anomaly.

A comprehensive property-wide soil sampling exercise was then undertaken, and identified both Carlin-style and CRD systems, reinforcing the historic Homestake chip sampling that had been undertaken in 2001. The position of the CRD soil anomalies confirms a southeasterly plunge to the mineralization and is of a similar length along strike to the surface workings and the main part of the MT anomaly. It highlights considerable near-surface exploration potential in the northern part of the property between the Banner and Duke faults, where only minor historical exploration has occurred.

The company has also secured an extension of its exploration surface drilling area, as defined in the existing plan of operations, to specifically target the deep anomaly identified by the geophysical surveys and geochemical sampling programs.

"Success with the exploration programs currently undertaken by North Peak and others near Eureka might well see this area re-emerge as a high-grade underground mining camp, which it was historically, producing gold, silver, lead and zinc," said Brian Hinchcliffe, North Peak's chief executive officer. "We have been fortunate in the timing of the exploration programs we have undertaken with local contractors and have benefited from building a good working relationship with the regulatory and permitting authorities."

Highlights:

• A two km long conductive anomaly directly beneath the old oxide gold, silver, lead and zinc stopes and mine workings on the property is highlighted by the several geophysical surveys.
• The main geophysical anomaly occurs immediately below the water table, where historical records indicate the oxide-to-sulphide transition occurs, as in other mines in the Eureka camp, in which sulphide mineralization is present.
• The soil sampling campaign highlighted both CRD and Carlin-style systems extending across the property, reinforcing the historic Homestake rock chip sampling.

Mike Sutton, PGeo, a director of the company, is the qualified person, as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this news release.

The qualified person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the property or any underlying property agreements.

About Prospect Mountain

The Property, which includes the Diamond mine, lies in the Battle Mountain-Eureka trend, in an area known as the Southern Eureka gold belt, where three styles of mineralization have been identified, Au-only, Carlin-style mineralization, carbonate replacement mineralization (CRD), and carbonate-hosted porphyry-related skarn lead, zinc and gold mineralization associated with Cretaceous intrusions. At the property, the CRD mineralization is heavily oxidized to depths of at least 610 metres (2,000 feet) below the top of the ridge line.

A plan of operations has been approved, which covers part of the property (totalling 81 acres) and entitles an operator to pursue surface exploration, exploration drilling, underground mining of up to 365,000 tons per annum and certain infrastructural works.

About North Peak Resources Ltd.

The company is a Canadian-based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol NPR. The company is focused on acquiring historic sites, with low-cost producing gold and other metals properties, with near-term production potential and eight-plus-year mine life in the northern hemisphere.

The company recently acquired an initial 80-per-cent interest in the Prospect Mountain property in Eureka, Nev. (see the company's May 4 and 23, 2023, and Aug. 25, 2023, press releases).

The company can give no assurances at this time that its properties and interests will fulfil the company's business development goals described herein. Trading in the securities of the company should be considered highly speculative.

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