Mr. Jesus Noriega of Ranchero reports

RANCHERO FINALISES OPTION ON PINCHI LAKE NICKEL PROJECT IN BRITISH COLUMBIA, CANADA

Further to its press releases on Nov. 21, 2023, and Feb. 26, 2024, Ranchero Gold Corp. has closed its option agreement with Recharge Resources Ltd., whereby Ranchero can earn a 100-per-cent interest in the Pinchi Lake nickel project. For further information regarding the option agreement, see the company's press release dated Nov. 21, 2023.

The Pinchi Lake project consists of six mineral claims totalling 3,917 hectares, situated approximately 15 to 30 kilometres northwest of Fort St. James and 120 kilometres northwest of Prince George in central British Columbia. Further information on the project can be found in the National Instrument 43-101 technical report on the Murray Ridge (Pinchi Lake) property dated Feb. 8, 2024, filed on SEDAR+ under the company's profile.

In accordance with the option agreement, Ranchero has issued 835,000 common shares in the capital of Ranchero to Recharge. The common shares are subject to a four-month hold period ending on July 13, 2024, in accordance with applicable securities laws.

The option agreement remains subject to the final approval of the TSX Venture Exchange.

Qualified person

Scientific and technical information in this news release has been reviewed and approved by Martyn Buttenshaw, a director of Ranchero, who is a qualified person as defined by National Instrument 43-101.

About Ranchero Gold Corp.

Ranchero is an exploration and development company currently focused on the Pinchi Lake project. Ranchero can earn a 100-per-cent interest in the Pinchi Lake project, consisting of six mineral claims totalling 3,917 hectares, situated approximately 15 to 30 kilometres northwest of Fort St. James and 120 kilometres northwest of Prince George in central British Columbia.

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