Mr. Brad Rourke reports

SCOTTIE RESOURCES ANNOUNCES CLOSING OF FINAL TRANCHE OF PRIVATE PLACEMENT

Further to Scottie Resources Corp.'s news releases dated Sept. 8, Oct. 4, 2023, and Oct. 6, 2023, the company has closed the third and final tranche of its non-brokered private placement. Under the third tranche, the company issued 104,167 common shares which qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada) at a price of 24 cents per FT share and one million flow-through units at a price of 33 cents per charity FT unit for aggregate gross proceeds of $355,000.

Each charity FT unit comprises one common share in the capital of the company that qualifies as a flow-through share within the meaning of Subsection 66(15) of the Tax Act and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 35 cents per warrant share for a period of two years from the date of issuance.

Pursuant to the private placement, the company issued an aggregate of: (i) 3,985,000 non-flow-through units at a price of 23 cents per NFT unit; (ii) 4,112,500 FT shares at a price of 24 cents per FT share; and (iii) one million charity FT units at a price of 33 cents per charity FT unit, for aggregate gross proceeds of $2,233,550.

In connection with the private placement, the company issued 236,100 finders' warrants and paid cash commissions of $53,303 to certain finders. Each finder's warrant entitles the holder thereof to purchase one common share of the company at a price of 23 cents per common share for a period of two years from the date of issuance.

The company intends to use the gross proceeds raised from the third tranche for exploration and related programs on the company's Scottie and Blueberry mineral properties which qualify as Canadian exploration expenses as such term is defined in paragraph (f) of the definition of Canadian exploration expense in Subsection 66.1(6) of the Tax Act, and flow through mining expenditures as defined in Subsection 127(9) of the Tax Act that will qualify as flow-through mining expenditures, and B.C. flow-through mining expenditures as defined in Subsection 4.721(1) of the Income Tax Act (British Columbia), which will be incurred on or before Dec. 31, 2024, and renounced with an effective date no later than Dec. 31, 2023, to the initial purchasers of charity FT units and FT shares.

The securities offered in the third tranche are subject to a four-month-and-a-day transfer restriction from the date of issuance expiring on Feb. 20, 2024, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

We seek Safe Harbor.