Mr. Brian Hinchcliffe reports

NORTH PEAK ANNOUNCES RESULTS OF DUMP SAMPLING PROGRAM ON PROSPECT MOUNTAIN, EUREKA, NEVADA

North Peak Resources Ltd. has released results from the first phase of sampling of surface workings on its Prospect Mountain property in Eureka, Nev. As part of a surface mapping project, some of the dumps, and numerous surface shafts, adits and scrapes were assayed.

Highlights:

• Of the total of 77 rock chip and grab samples, the samples averaged 2.42 grams per tonne (g/t) gold (Au), 76.2 g/t silver (Ag), 0.38 per cent copper (Cu), 1.06 per cent lead (Pb) and 1.33 per cent zinc (Zn).
• The highest-grade gold sample assayed 33.9 g/t Au, 183 g/t Ag, 0.9 per cent Cu, 1.81 per cent Pb and 1.66 per cent Zn from an unnamed surface scrape on a patented claim.
• Twelve samples returned grades greater than five g/t Au, and averaged 10.34 g/t Au, 200.8 g/t Ag, 0.20 per cent Cu, 2.96 per cent Pb and 1.30 per cent Zn.

Samples were taken from outcrops and subcrops in old workings where possible, and from the dumps in front of the workings (see the table entitled "Results of assays of surface and workings rock samples to date of greater than one g/t Au, or greater than 35 g Ag, or greater than 1 per cent Cu, Pb or Zn"). While grab samples from dumps are not indicative of in situ grades and are often the poor-quality ore left behind by the historical miners, they give a useful guide to the composition and grade of the near-surface mineralization present on the property. The samples have so far been taken from the surface mineralization within the Hamburg dolomite above the underground workings of the historic Diamond mine, as well as nearby smaller mines, including the Williams mine, where historic production recorded an average grade of 3.9 ounces Au, 28.56 oz Ag and 1.51 per cent lead (source: The Eureka Mining District, Nolan, 1962).

The company is using these data to complement and confirm the extensive historical rock grab database gathered in the 1990s by Homestake over the property that comprises a total of 614 samples. The combined databases will be used in conjunction with the previously reported soil sampling data contained within the press release of Oct. 18, 2023, and geophysics, to help determine near-surface drill targets on the property.

Review by qualified person, quality control and reports

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.

All samples referenced herein were prepped by ALS Elko, 1345 Water St., Elko, Nev., United States. Gold was assayed at ALS Reno, 4977 Energy Way, Reno, Nev., U.S. All base metals and silver were assayed by ALS Vancouver, 2103 Dollarton Highway, North Vancouver, B.C., Canada. Gold was assayed by 30-gram fire assay analysis with AAS (atomic absorption spectroscopy) or gravimetric finish (Au-AA23/5 or Au-GRA21). Base metals and silver were analyzed using four-acid digestion ICP-MS (inductively coupled plasma mass spectrometry) (ME-MS61), with overlimit assays using aqua regia and four-acid digestion with ICP-MS analysis (-OG62). All ALS geochemistry sites operate under a single global geochemistry quality manual that complies with ISO/IEC 17025:2017, coupled within a global LIMS platform. There is no relationship, fiduciary or otherwise, between ALS and the company.

All samples were of hand specimen size or larger, and were sealed in North Peak's on-site facility and shipped directly to the lab; the company can guarantee the chain of custody. The company's quality assurance/quality control (QA/QC) program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards and blanks are inserted every 20 samples.

About Prospect Mountain

The property 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: gold-silver Carlin-style mineralization; carbonate replacement gold, silver, lead and zinc 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 m (2,000 feet) below the top of the ridge line.

A plan of operations is in place which covers part of the property (totalling 81 acres) and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.

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 May 23, 2023, and Aug. 25, 2023, press releases).

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

We seek Safe Harbor.