File: '\\swfile\EmailIn\20240220 150110 Attachment 2024-02-20 Paloma - NR Board Changes and CFO.docx'

Paloma Resources Inc. Announces Board Changes and Appointment of new CFO

Vancouver, February 20, 2024 - Paloma Resources Inc. (NEX: PLO.H) is pleased to announce the appointment of Alvaro Valencia to the Board of Directors, effective February 15, 2024. Mr. Valencia is an economist with international experience in finance, mergers & acquisitions (M&A), public-private partnerships, project management, economic/equity research and job development. He has relevant knowledge of mining, construction, telecom, agribusiness, forestry and services sectors.

The Company would also like to thank Mr. Anthony Zelen for his service as Chief Financial Officer and member of the Board of Directors of the Company. Mr. Zelen retired from these positions effective as of February 7, 2024. Mr. Aidan Bailey, a member of the Board of Directors, will takeover the role of Chief Financial Officer effective immediately.

For further information contact:

Johannes Petersen

Chief Executive Officer

Phone: +44 203 936 0690

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.