Mr. Simon Ridgway reports

RACKLA METALS ANNOUNCES COMPLETION OF 2023 FIELD PROGRAM AND INCLUDES HIT AND ASTRO CORE PHOTOS

Rackla Metals Inc. has completed its 2023 exploration program that included 3,039 metres of diamond drilling in 17 holes focused on reduced intrusion-related gold systems (RIRGS) at the Astro intrusive complex, in the eastern Selwyn basin of Yukon and the Northwest Territories. The Astro intrusive complex comprises the Astro, Hit and SER properties. Twelve holes (2,041.3 m) were drilled on the Astro property and five holes (997.5 m) were drilled on the Hit property.

The Hit property covers the Canol Trail stock, a K-feldspar porphyritic biotite monzogranite belonging to the Cretaceous-aged tungsten suite. Seven mineral occurrences have been identified on the property, each exhibiting characteristics of RIRGS, including: magnetic low in the intrusion with a magnetic high in the altered sedimentary rocks around the margins, sheeted quartz-sulphide veining in the intrusion and a gold-bismuth-arsenic chemical association.

The drill program on the Hit property tested a high-priority 1,500 m by 1,000 m Au/Bi/As anomaly defined by soil, rock and talus fine sampling. The anomaly is associated with a northwest-trending structural corridor exhibiting strong sheeted veining in the Canol Trail stock. Four holes (HIT-001 to HIT-004) tested the Mehitabel, Central and Ridge zones. Hole HIT-005 tested the Gully zone.

HIT-001 intersected stockwork veining in the Central zone while HIT-002 intersected similar veining 400 m south toward the Ridge zone.

Holes HIT-003 and HIT-004 were drilled 700 m along strike to the northwest of HIT-001 targeting an area of highly fractured, sheeted veins at the Mehitabel showing. HIT-003 and HIT 004 cut a zone of intensely sheeted quartz (Qtz)-pyrrhotite (Po)-arsenopyrite (Aspy)-bismuthinite (Bi)-chalcopyrite (Cpy) veining that measures approximately 290 m in width and includes intervals with up to 55 veinlets per metre and quartz-sulphide veins up to three m wide.

In hole HIT-003, the intense sheeted veining was consistent over the entire 273 m drill hole and averaged approximately 12 veins per metre. Most of the veins have sericite-carbonate altered selvages and there are variable amounts of carbonate-filled microfractures in the host granodiorite.

HIT-004 was drilled from the same pad as HIT-003 in the opposite direction and cut the steeply southwest-dipping sheeted veins at a slightly lower angle but the veining and alteration were comparable with HIT-003 for most of the 178.31 m hole. These two holes tested a section of this structural corridor measuring 290 m in width and to a depth of 210 m vertically below surface. The sulphide-bearing veins observed in the drill core demonstrate how the effects of surface weathering and oxidation of the sulphide minerals create the slabs of monzogranite observed on surface.

HIT-005 was drilled on the southeast corner of the Hit property to test a hornfelsed block of silty-limestone sediments within the monzogranite. Due to mechanical problems the hole was abandoned at 50 m, just short of the targeted zone.

The final drill hole of the program, hole AST-012, was drilled at the Lake Creek Valley prospect in the Border pluton on the Astro property. The Border pluton is a biotite-hornblende-clinopyroxene granite intrusion that belongs to the Cretaceous-age Tombstone suite. In 2023, Rackla discovered a new showing at Lake Creek Valley. The occurrence consists of a broad slope of weathered, iron-stained slabs of granite, similar to the slabs of monzogranite observed at the Mehitabel occurrence. The occasional unweathered quartz-sulphide vein was observed to contain pyrrhotite, arsenopyrite and molybdenite. Talus fine sampling along the base of the valley returned anomalous gold, bismuth, arsenic and molybdenum.

Hole AST-012 intersected granite from the top of the hole with an average sheeted vein density of 2.8 veins per metre up to 12 veins per metre. The veins contained quartz-pyrite-pyrrhotite-bismuthinite-arsenopyrite-molybdenite plus chalcopyrite.

Final analytical results are expected within the coming weeks.

Sample analysis

Drill core samples have been delivered to the ALS Global preparatory facility in Whitehorse, Yukon. Sample preparation was completed in Whitehorse, with analyses completed in Vancouver.

ALS Global is accredited to ISO/IEC 17025 and ISO9001 for quality management. Rock and drill core samples were crushed to greater than 85 per cent passing below two millimetres and split using a riffle splitter. Splits of 250 grams were pulverized to greater than 70 per cent passing below 75 microns. An aqua regia digestion with an inductively coupled plasma mass spectroscopy (ICP-MS) and inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish was used for 51-element analysis on 0.5-gram sample pulps (ALS code: ME-MS41). All samples were analyzed for gold content by fire assay with an atomic emission spectroscopy (AES) finish on 50-gram samples (ALS code: Au-ICP22).

Qualified person

Scott Casselman, BSc, PGeo, 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 Metals Inc.

Rackla Metals is a Vancouver-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 its discovery.

We seek Safe Harbor.