Mr. Alexander Lindsay reports

RESOLUTE RESOURCES ANNOUNCES OPERATIONAL UPDATE AND LEADERSHIP TRANSITION

Resolute Resources Ltd. has provided an operational and corporate update.

Operational update

Since incorporation in 2019, Resolute Resources has advanced from an exploration concept to a publicly listed oil and gas company. It made its first land purchase in 2020, and significantly expanded its landholdings in 2022. Resolute successfully obtained licences for its first wells and established two-well pads in mid-2023. On Sept. 24, 2023, Resolute reached a pivotal moment when it completed drilling its first well, Resoluteresltd HZ Anthony 11-24-83-24. Production for 11-24 commenced on Oct. 9, and the company plans to provide a detailed update on the well's performance in mid-December.

Resolute Resources plans to drill its second well in the Gething Channel play prior to the end of the calendar year, subject to equipment and rig availability. The company will issue a press release as soon as the rig is on site and anticipates a drilling duration of approximately 15 days.

Leadership transition

Effective Oct. 30, Alexander Lindsay replaced Bradley Parkes as chief executive officer of the company. Mr. Parkes has resigned his directorship. Chris Wolfenberg has been named chairperson of the board following Mr. Parkes's departure. Resolute Resources owes its inception to Mr. Parkes, who played a foundational role in establishing the company in 2019. His contributions were pivotal in navigating the company through the RTO (reverse takeover) process earlier this year. Notably, in the past five years, only a handful of energy companies have been listed on the TSX Venture Exchange, and Resolute Resources proudly stands as one of them. Resolute Resources extends its heartfelt gratitude to Mr. Parkes for his dedication and hard work as it embarks on the next chapter of its journey. In recognition and consideration of Mr. Parkes's extraordinary contributions to the development of Resolute Resources to date, the board approved the accelerated vesting of Mr. Parkes's stock options subject to completion, in a timely manner, of customary legal documentation related to his departure.

The future of Resolute Resources is tied to its drilling program, and, with this vision in mind, Resolute is pleased to announce that the company's chief operating officer, Mr. Lindsay, has been appointed as chief executive officer, effective immediately. Mr. Lindsay brings with him a wealth of experience in drilling and completion operations -- he has played a crucial role in drilling many wells using horizontal multilateral technology. His extensive knowledge and experience in operational leadership positions the company to significantly expand its drilling activities. Additionally, Mr. Lindsay has been a driving force in the company's recent financing round, generating substantial investor interest and support.

About Resolute Resources Ltd.

Resolute is an energy corporation trading on the TSX Venture Exchange under the symbol RRL. Resolute has projects in northwestern Alberta and northeastern British Columbia, where it is exploring shallow cretaceous sandstone reservoirs that can be exploited with multilateral open hole wells. Resolute has accumulated just under 35,000 acres in its GFD light oil project in northwestern Alberta and approximately 10,000 acres at its Evie project in northeastern British Columbia. Resolute is pursuing projects that are high in environmental social and governance metrics, that result in lower emission oil and low water use due to no hydraulic fracturing, but that provide high economic returns.

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