Mr. David Christie reports

ORFORD CLOSES FIRST TRANCHE OF FINANCING OF $1.9 MILLION

Orford Mining Corp. has closed $1.92-million, the first tranche of its previously announced $6.2-million non-brokered private placement. The first tranche closing included: (i) 1,108,065 critical mineral flow-through at an issue price of 24.8 cents per unit; (ii) 6,032,058 flow-through units at an issue price of 21.5 cents per unit; and (iii) 2,673,637 hard-dollar units at 13.05 cents per unit, for gross proceeds of $1,920,602.44 from the sale of CMFT units, FT units and HD units. Each CMFT unit, FT unit and HD unit consist of one common share and one-half of a common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share of the company for a period of two years at an exercise price of 22 cents. Alamos Gold has participated in the financing to maintain its pro rata holding of approximately 26.18 per cent of Orford's outstanding common shares.

Orford intends to use the net proceeds from the offering to explore its exploration properties, in particular its Qiqavik gold project summer 2023 RAB (rotary air blast) drilling program and its summer 2023 Nunavik lithium inaugural exploration program in addition to its Joutel Eagle project, all in Northern Quebec, and for general corporate purposes. The South gold zone on the Joutel Eagle property in the Abitibi greenstone belt of Northern Quebec is intended to be the focus of a 2024 winter geophysics and drilling program. The Qiqavik project represents what Orford believes is a new gold district discovery in the Cape Smith belt of Northern Quebec. The Joutel Omega properties are in the Joutel area of the Abitibi greenstone belt of Northern Quebec.

The rest of the $6.2-million offering as announced on May 12, 2023, is anticipated to close in one or more tranches on or before June 20, 2023, and is subject to the prior approval of the TSX Venture Exchange. The securities issued under the offering will be subject to a hold period expiring four months plus a day from the date of closing of the applicable tranche.

Finders received compensation in respect of a portion of the financing consisting of an aggregate of $46,710 in cash and 321,794 non-transferable finders' warrants. Each finder's warrant entitles the holder to purchase one common share of the company for a period of two years at an exercise price of 22 cents.

The securities issued under the offering will be subject to a hold period expiring four months plus a day from the date of closing.

The purchase of securities pursuant to the offering by Alamos (an insider of Orford) will constitute a related-party transaction as such term is defined by Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The transaction will be exempt from the MI 61-101 valuation and minority approval requirements for related-party transactions in connection with the offering under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the related parties, exceeds 25 per cent of the company's market capitalization (as determined under MI 61-101).

About Orford Mining Corp.

Orford is a gold and critical mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik and West Raglan lithium exploration projects comprising a land package totalling over 111,000 hectares in the Cape Smith belt of Northern Quebec. The Qiqavik project hosts several new high-grade gold discoveries along a mineralized trend in excess of 40 kilometres. The West Raglan project hosts a number of high-grade Raglan-style nickel/copper/platinum-group-metal discoveries along a 55-kilometre mineralized trend. In early 2023, Orford acquired large claim blocks targeting lithium in the Nunavik region. These lithium claim blocks have been carefully selected as having promising lithium potential after an exhaustive compilation of available data. Orford also has four property positions in the Joutel region of the Abitibi district of Northern Quebec, which hosts historical deposits such as the Eagle/Telbel, Joutel copper, Poirier copper and Vezza deposits. Orford continually seeks new gold exploration opportunities in North America. Orford's common shares trade on the TSX Venture Exchange under the symbol ORM. This information from neighbouring properties is not necessarily indicative of the mineralization on Orford's properties.

We seek Safe Harbor.