Mr. David Christie reports

ORFORD ANNOUNCES FINANCING UPSIZED BY 10% UP TO $2.2 MILLION

Orford Mining Corp. has upsized its previously announced (July 11, 2022) non-brokered private placement by 10 per cent to $2.2-million from $2.0-million, and will be composed of: (i) approximately 7.0 million in the aggregate flow-through shares (FT shares) or critical minerals flow-through shares (CMFT shares) at an issue price of 17.25 cents per share; and (ii) approximately 6.7 million hard-dollar shares (HD shares) at an issue price of 15 cents per share, to raise gross proceeds of up to $2.2 million from the sale of FT shares, CMFT shares and HD shares, or any combination thereof. Alamos Gold (Toronto Stock Exchange: AGI) has indicated that it intends to participate in the financing by purchasing $1-million (6.7 million shares) of HD shares, which will increase its holding in Orford Mining to approximately 27.9 per cent of Orford's outstanding common shares from approximately 26.2 per cent of Orford's outstanding common shares.

Orford intends to use the net proceeds from the offering on its currently active exploration programs in the Nunavik region of Northern Quebec, 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 continuing work on 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 offering is anticipated to close on or before July 27, 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.

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 (MI 61-101). 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).

With respect to the financing that closed on July 6, 2023, there was additional finders fees paid in respect of a portion of the second close of this financing consisting of $1,566.00 in cash and 12,000 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.

About Orford Mining Corp.

Orford Mining is a gold and critical mineral explorer focused on highly prospective and underexplored areas of Northern Quebec. Orford's principal assets are the Qiqavik, West Raglan and 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 km 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 Mining's properties.

We seek Safe Harbor.