Mr. Matt Chatterton reports

TACTICAL RESOURCES CORP. ANNOUNCES WARRANT EXTENSION

Tactical Resources Corp. proposes to extend the expiry date of 2,856,500 outstanding common share purchase warrants of the company issued pursuant to a brokered private placement of special warrants of the company, closed on May 13, 2021.

Each special warrant issued was exercisable into, for no additional consideration, one unit of the company, with each unit consisting of one common share in the capital of the company and one-half of one warrant. Each whole warrant is exercisable at a price of $2.50 for a period expiring on the date that is two years from the date the common shares were listed on a stock exchange, being March 14, 2022. On Sept. 14, 2021, the special warrants were automatically converted into 5,713,000 units, consisting of an aggregate of 5,713,000 common shares and 2,856,500 warrants. No warrants have been exercised to date and an aggregate of 5,000 warrants, representing approximately 0.2 per cent of the outstanding warrants, are held by insiders of the company.

Subject to approval of the TSX Venture Exchange, the expiration of these warrants will be extended from March 14, 2024, to May 13, 2026. All other terms of the warrants remain unchanged and in full force and effect. No action will be required on the part of the holders of the warrants to give effect to the aforementioned amendment.

The warrants and the underlying common shares issuable upon exercise of the warrants have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States, or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities referred to herein.

About Tactical Resources Corp.

Tactical Resources is a mineral exploration and development company focused on rare earth elements based in Vancouver, B.C., and holds interests at the Peak project in western Texas. The company is also actively involved in the development of innovative metallurgical processing techniques to further unlock rare earth element development potential.

About the Peak project

The Peak project is located 68 miles southeast of El Paso in Texas and two miles southeast of the Round Top rare earth element (REE) project owned by Texas Minerals Resources Corp./USA Rare Earth (ownership split of 20 per cent and 80 per cent). Tactical Resources is party to an agreement with the Sierra Blanca quarry that allows, for a fee, access to and a right of first purchase option to tailings material on the Sierra Blanca property, together with certain rights related to development and processing of the tailing mater.

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