Mr. Simon Ridgway reports

RACKLA METALS RECAPS A SUCCESSFUL PHASE 1 EXPLORATION PROGRAM ON THE ASTRO PLUTONIC COMPLEX & LOOKS AHEAD TO 2024

Rackla Metals Inc. entered the 2023 season with a commitment to shareholders to get boots on the ground in the Astro plutonic complex of Yukon and Northwest Territories in the search for reduced intrusion-related gold systems (RIRGS). Research by the company had shown that this intrusive complex, which is effectively road accessible, was underexplored and had not been tested for RIRGS potential. The limited amount of historical work focused primarily on the sedimentary rocks along the margins of the intrusions, while the intrusive bodies themselves were relatively untouched. The Rackla team determined there was tremendous potential for a significant RIRGS discovery within the complex.

The company employed a large team of prospectors, soil samplers and geologists to get eyes on the rocks and collect samples to test the potential of this large, rugged terrain in search for gold-bearing sheeted vein systems with potential for an economic discovery.

The surface sampling program returned numerous anomalies and was followed by 3,000 metres of reconnaissance-style drill testing of selected targets.

The Hit claim block covers the Canol Trail stock, which is the most northerly intrusive body in the Astro plutonic complex. The Canol Trail stock is a Tungsten suite monzogranite that measures 2.5 kilometres in diameter. Soil and talus fine sampling in 2023 identified a 2.4-square-kilometre gold-bismuth-arsenic anomaly on the northwestern part of the intrusion that is open in all directions.

The company drilled 1,000 metres in five holes at Hit and intersected significant RIRGS-style gold-bearing intersects in two holes, HIT-003 and HIT-004.

These holes were drilled from the same drill pad, in opposing directions, and cut gold-bearing sheeted veins over a width of 225 metres and to a depth of 150 metres. This mineralized system is open to the north, south and west and at depth. Interpretation of the company's airborne geophysical data shows that the western margin of the intrusion dips shallowly under the sediments with a thin cover. Significant drilling will be needed to test this RIRGS target and expectations are high.

The Ser claim block hosts the most southern of the three intrusive bodies known as the Kelvin stock. The Kelvin stock is 10 kilometres south of the Canol Trail stock, measures 2.2 kilometres in diameter and is a Tombstone suite granite intrusion. Soil sampling at Ser has returned strong, coincident gold-arsenic soil anomaly at the Grid zone, a gold-bismuth-arsenic anomaly at the Peak zone and gold-bismuth talus fine anomaly at the head of the Ser glacier valley. The soil and talus fine anomalies are greater than two square kilometres and occur within the intrusion and sedimentary rocks in the contact aureole. Prospecting in these areas has returned significant gold mineralization from rock samples with 22 per cent of the samples returning greater than 0.5 gram per tonne gold and a peak value of 27.5 grams per tonne gold. The company was not able to drill test the Ser targets in 2023; however, it will be a focus of drilling in 2024.

Simon Ridgway, chief executive officer of Rackla Metals, commented: "The work completed on the Astro plutonic complex in 2023 was successful in identifying RIRGS in the most eastern reaches of the Tombstone gold belt, an area previously only known for base metal deposits. The initial drill program completed on the Canol Trail stock has indicated real potential for a large economic gold system. A significant drilling program is justified in 2024. Multiple other areas within the large ground position we acquired in 2022 have also shown significant promise to host RIRGS-style gold systems, and I am confident that as we develop these other target areas further discoveries will be made."

Over the next few months, the Rackla team will be focused on detailed evaluation of results collected from the 2023 field program that included airborne and ground geophysics, surface sampling and drilling. The 2024 work plans will include:

• Hit property -- a significant drill program is planned to vector toward the heart of the RIRGS target discovered in 2023;
• Astro property -- additional mapping and prospecting are planned to determine the source of gold mineralization;
• Ser property -- a maiden diamond drill program is planned to test the various gold-in-soil anomalies and anomalous rock samples;
• Other properties -- work on four other company-owned properties, including boots on the ground prospecting, to bring them up to the drill-ready stage.

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 is a junior gold exploration company based in Vancouver, Canada. The company is targeting reduced intrusion-related gold system (RIRGS) 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.