Mr. Mark Patchett reports

ROLAND MINERALS ENTERS FINAL NEGOTIATIONS TO ACQUIRE OPTION ON THE LAS CRUCITAS GOLD MINE PROJECT

Roland Mineral Enterprises Corp. is in the final stages of negotiations to acquire, by option, an interest in the Las Crucitas gold mine project, an advanced-stage gold project located in Central America.

Project highlights

• Advanced-stage gold project in Central America with significant historical drilling and feasibility data;
• Historical resource estimates (Infinito Gold, 2008): 1.24 million ounces gold indicated at 1.37 grams per tonne Au (gold); 1.21 million ounces inferred at 1.28 g/t Au; over seven million ounces contained silver;
• Epithermal gold mineralization hosted in Miocene volcanics and rhyolitic domes;
• Legal and political momentum Costa Rica's Legislative Assembly is considering amendments to permit open-pit mining specifically at Las Crucitas;
• Substantial prior investment in mine development, infrastructure and community services by previous operators;
• Gold market tailwind historical feasibility based on $750 (U.S.)/ounce gold; current gold prices above $4,000 (U.S.)/oz significantly enhance potential project economics.

Project overview

The Las Crucitas gold mine project encompasses Miocene basaltic to andesitic lava flows and pyroclastic rocks cut by rhyolitic domes, the focus of epithermal-style gold mineralization. Multiple stages of gold deposition have been identified, ranging from 0.2 to 0.6 g/t Au to high-grade 0.6 to 6.0 g/t Au within quartz pyrite adularia vein systems.

Historical exploration and resource estimates

The property was originally explored by Placer Dome Inc., which completed 251 diamond drill holes and 90 auger holes, forming the foundation for resource estimates prepared for Infinito Gold Ltd. by Hellman & Schofield Pty. Ltd. (2008).

Infinito Gold's July 17, 2008, news release reported the following at a 0.5 g/t Au cut-off.

These resources include both saprolite and hard rock zones within the Botija and Fortuna pit areas.

Feasibility and economic studies

In 2008, Micon International Ltd. completed the "Las Crucitas Gold Project NI 43-101 Technical Report on Feasibility Study Update" for Infinito Gold. Using Hellman & Schofield's recoverable resource estimates, Micon concluded that Las Crucitas was economically attractive under 2008 conditions, based on a gold price of $750 (U.S.)/oz. With gold now exceeding $4,000 (U.S.)/oz, Roland Minerals believes that future studies could show substantially improved economics.

Legal and political developments

Development of the mine at the Las Crucitas gold mine project was halted following a 2010 moratorium on open-pit mining in Costa Rica. Subsequent international arbitration before the World Bank's International Centre for Settlement of Investment Disputes (ICSID) resulted in a June, 2021, award concluding that Costa Rica violated the Bilateral Investment Treaty with Canada concerning the protection of investments.

Subsequent to the moratorium illegal mining has been taking place and causing significant environmental damage in and around Las Crucitas. As a result, today, growing public and political support for the benefits of responsible open-pit mining at Las Crucitas is emerging. In particular, many interested parties and groups within Costa Rica have expressed their support for open-pit extraction of mineral resources, especially gold, at Las Crucitas and nearby areas.

Among other developments considered by Roland Minerals to be positive for mining prospects at Las Crucitas, the Costa Rican Legislative Assembly is currently considering a bill to amend the mining code to lift the moratorium declared in 2010 to specifically allow open-pit mining at the Las Crucitas gold mine project site. It is reported the bill received a favourable opinion from the technical committee responsible for its review.

Strategic partnership

Roland Minerals is negotiating an option agreement that would enable it to acquire an interest in the Las Crucitas gold mine project in collaboration with Crusac Trinity Resources Corp. of Texas, United States, and the owner of existing exploration data and other key participants. This partnership aims to advance exploration, development and eventual mining opportunities at Las Crucitas.

Management commentary

"We are in the early stages of what has already proven to be the strongest gold market in modern history as sophisticated investors embrace investments in gold mining and exploration," states Frank Garofalo, director of Roland Mineral Enterprises. "Las Crucitas presents a rare, high-impact advanced mining opportunity for Roland Minerals with substantial upside. Las Crucitas had robust numbers with gold at $750 (U.S.). With gold now trading above $4,000 (U.S.) per ounce, we anticipate very positive outcomes as the project advances toward renewed exploration and mine development. The benefits to local communities and the Costa Rican economy from responsible mining at Las Crucitas would be significant. The option on Las Crucitas presents a tremendous opportunity for RME to expand on its portfolio of mining assets and to take advantage of the unique timing of an advanced project that was going into production, and has been on extended hiatus for over 17 years. This option is a modest investment with huge potential benefits for all stakeholders, including Costa Ricans."

Qualified person

The technical content of this news release has been reviewed and approved by Dr. Bohumil (Boris) Molak, PhD, PGeo, and Rod Husband, PGeo, qualified persons as defined by National Instrument 43-101.

About Roland Mineral Enterprises Corp.

Roland Mineral Enterprises is a Canadian exploration company trading on the TSX Venture Exchange symbol RME, focused on the acquisition, exploration and development of high-quality gold, platinum and palladium assets in Canada and the Americas. Roland Minerals seeks to create value through disciplined exploration, technical excellence, and strategic partnerships and relationships.

We seek Safe Harbor.