Mr. Brian Hinchcliffe reports

NORTH PEAK COMPLETES FIRST DRILL HOLE AT DIAMOND MINE ON PROSPECT MOUNTAIN, EUREKA; DOWNHOLE EM SURVEY BEING UNDERTAKEN SHORTLY; ASSAY RESULTS PENDING

North Peak Resources Ltd. has drilled its first deep core hole at Prospect Mountain and a BHEM (borehole electromagnetic) survey is being undertaken to identify potential locations for further wedge drilling. This first hole NPR23-01 in phase 1 of North Peak's program was 3,250 feet in length and targeted the roughly two-kilometre conductive anomaly, located directly beneath the old oxide gold, silver, lead and zinc historical stopes of the Diamond mine, as a result of geophysical surveys the company carried out in the summer of 2023 (see the company's Oct. 27, 2023, press release).

"Eureka is now receiving the exploration focus at depth that other Nevada mining camps have received and will uniquely benefit from a greater understanding of the presence of polymetallic CRD, Skarn and Carlin mineralization increases," said Brian Hinchcliffe, North Peak's chief executive officer. "This first hole will provide us with greater insights into the structures and mineralization at depth below the historical workings within the sulphide portion of the mineralization and downhole surveys play an important role in unlocking these deeper potential areas of the Eureka camp."

The drill pad was located at an operational optimal location, at the portal entrance to the Diamond mine. The hole went to a depth of 5,492 feet amsl (above mean sea level) underneath shaft 1 of the main workings targeted at the sulphide mineralization below the water table which is estimated to be at around 6,500 feet amsl. The metal casing was left in the hole to allow for potential wedge holes that would be drilled following the completion of a downhole geophysical BHEM survey. The BHEM survey is being undertaken to evaluate the best orientation for potential wedging of this hole, as it will help to identify the location of the best conductors (sulphides) relative to the position of the original hole.

Samples for this first core hole have been submitted to ALS Laboratories and North Peak is awaiting the completion of the full multielement results and expects results in the next few weeks.

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 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 8-plus-year mine life in the northern hemisphere.

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