Mr. Simon Ridgway reports

RACKLA METALS COMMENCES DRILLING AT THE HIT PROPERTY

Rackla Metals Inc. has commenced diamond drilling at the Hit property in Yukon. The drilling at Hit is part of the previously announced 3,000-metre drill program focused on targeting a reduced intrusion-related gold system (RIRGS) in the intrusive bodies at the Astro plutonic complex. The company plans to drill 1,000 metres in five holes at Hit on targets identified by airborne geophysics, boots on the ground prospecting, talus fines and rock sampling.

A high-priority, 1,000-metre-by-400-metre gold/bismuth/arsenic anomaly has been defined in soils, rock and talus fines associated with a northwest-trending structural corridor exhibiting strong sheeted vein zones in outcrop within the intrusive stock.

The HIT property is underlain by the Canol Stock, a monzogranite intrusion of the Tombstone Suite (Figure 1). The wide spaced drilling is being focused on this structural corridor testing the Ridge Zone, the Central Zone and the Mehitabel Zone (Figure 1, Table 1).

The Ridge Zone is characterized as a highly tectonized intrusive with sheeted veins containing pyrrhotite-pyrite-chalcopyrite. Talus fine sampling in the area has returned 1.3 g/t gold over 6 m. This zone was tested with HIT-002, results pending.

The Central Zone is located 600m N/W of the Ridge zone and here float samples have returned 20 g/t Au and 4.9 g/t Au in grab samples. This zone was tested by HIT-001 with results pending.

The Mehitabel zone is located a 1,000m N/E of the Ridge Zone at the northern margin of the Monzogranite, where it is in contact with carbonaceous finely bedded siltstone. Sheeted veins cutting the siltstone and the intrusive stock here have returned strongly anomalous gold values both in the vein and skarn zones, up to 3.4 g/t Au. This zone was tested in HIT -003, results pending.

Drilling to continue at Astro

Following the completion of the drilling at HIT, the Company will return to the Astro property to drill at the Lake Creek Valley target. The Lake Creek Valley target is defined by a 450m long gold-bismuth-molybdenum talus fines anomaly and abundant sheeted veins in the biotite-hornblende-clinopyroxene granite of the Tombstone Suite. The sheeted veins are well oxidized on surface and have been observed to contain pyrrhotite-pyrite-chalcopyrite with a sericitic halo where they are not completely weathered (Image 3).

Simon Ridgway, CEO commented: "The approach we have taken to explore this large Astro Intrusive complex is to define areas with sheeted veining and/or skarn zones with anomalous gold/bismuth within the intrusive bodies and test them with wide spaced drill holes. The low angle of the holes (-50) gives us maximum lateral coverage, as does the wide spacing of the drill holes. Results will be compiled at season end and areas exhibiting the potential to host sizable gold deposits will be tested with significant drill programs in 2024 season. Boots on the ground within these intrusive bodies has identified many areas that warrant follow-up. I believe compilation of the results of this year's program will generate exciting targets for 2024."

Qu alified Person

Scott Casselman, B.Sc., P.Geo., Vice-President Exploration of the Company, is a member of the Association of Professional Engineers and Geoscientists of British Columbia and is the Company's Qualified Person as defined by National Instrument 43-101. Mr. Casselman has reviewed and approved the technical information contained in this news release.

About Rackla

Rackla Metals Inc. (TSX-V: RAK) is a Vancouver, Canada based junior gold exploration company. The Company is targeting RIRGS (Reduced-intrusion Related Gold System) mineralization on the southeastern part of the Tombstone Gold Belt in eastern Yukon and western Northwest Territories. Management believes that this area, which is underexplored for RIRGS deposit types, has the potential to be the next frontier for their discovery.

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