Ms. Erma Abalos reports

QUEENSBERRY MINING AND DEVELOPMENT CORP. ACQUIRES ADDITIONAL SHARES OF ST. AUGUSTINE GOLD AND COPPER LIMITED

Queensberry Mining and Development Corp. has acquired 91,778,683 common shares of St. Augustine Gold and Copper Ltd. The shares were acquired pursuant to a non-brokered private placement transaction at a price of 4.12485940 cents per share. The private placement closed on June 13, 2023.

Queensberry acquired 91,778,683 shares, representing approximately 9.98 per cent of the issued and outstanding shares (on a non-diluted basis). Immediately prior to the private placement, Queensberry owned 408,678,556 shares (approximately 44.44 per cent of the issued and outstanding shares). As a result of the private placement, Queensberry has increased in ownership of shares by 5.04 per cent and now owns 500,457,239 shares (approximately 49.48 per cent of the issued and outstanding shares). Queensberry's president and chief executive officer, Manuel Paolo A. Villar, personally has ownership and control over an additional 218,500 shares (approximately 0.02 per cent of the issued and outstanding shares).

The shares were acquired at a price of 4.12485940 cents per share for an aggregate price of $3,785,741.63. Queensberry holds shares in SAU for investment purposes and may, from time to time, depending on market and other conditions, increase or decrease its holdings of shares or other securities of SAU through market transactions, private agreements, treasury issuances or otherwise.