Mr. Kirk Reed reports

SHOWCASE ANNOUNCES TWO REFINED AREAS FOR TARGETED EXPLORATION AT THE DIXIE FLATS-NORTH STAR PROJECT, NEVADA

Showcase Minerals Inc. has identified two promising broad targets that can be investigated with drilling at its Dixie Flats/North Star project located in Nevada. These targets incorporate geologic information from 53 drill holes, localized geologic mapping, controlled source audio magnetotelluric (CSAMT) surveys, GTI NuSeis 2-D active seismic, gravity surveys with over 828 gravity stations, and surface sampling.

The two broad targets are situated along two major geologic structures and the interface of the Webb mudstone and Devils Gate limestone, which is the primary source of mineralization at Dixie Flats. Historic mineralization at this contact within the project boundary has been favourable. With the combination of new geophysical work and synthesis of historic work, confidence has increased around the location of drill exploration targets.

Expected program milestones are expanding known mineralization along trend with Orla Mining Ltd.'s Dark Star gold deposit, consistent with the newly identified CSAMT resistivity anomaly. The drill program will also better define the location of the mineralized ore-bearing structures, which can be incorporated into future lithologic and structural models. The CSAMT anomaly splits into a potentially second mineralization-bearing crosscutting structure, and drill targets are planned to expand this zone of potential mineralization laterally along this newly identified local crosscutting structure.

About the Dixie Flats/North Star gold project

The Dixie Flats/North Star property is located on the east side of the Pinon Mountains, 21 air miles south of the city of Elko in northeast Nevada. It is a combination of two claim blocks, the Dixie Flats group of claims and the North Star group of claims. The property comprises a total of 236 total unpatented mineral claims on federal land administered by the U.S. Bureau of Land Management (BLM).

The property lies on the southern margin of the Carlin trend, a northwest-trending belt of sediment-hosted gold deposits that makes up the greatest geographic concentration of gold deposits in North America, with reported production of more than 92.5 million ounces of gold since 1961 (Muntean, 2019). The Dixie Flats/North Star property is underlain by rocks known to host gold mineralization on the Carlin trend, and surface sampling has shown anomalous gold, silver, arsenic, antimony and mercury levels in rock, soil and biogeochemical samples from the property, which is a characteristic geochemical signature of Carlin-type gold deposits.

Dixie Flats/North Star is approximately three miles south of Newmont Mining Company's Emigrant Springs mine, which finished open-pit production in 2018, and approximately 4.5 miles southeast of the past-producing Rain mine. Both of these deposits are hosted in dissolution breccia zones at the contact between the Webb mudstone, the basal unit of the overlying assemblage and the underlying Devils Gate limestone. Prior exploration on the Dixie Flats/North Star property has been focused on delineating this contact at depth and discovering possible extensions to the regional structures controlling mineralization at the Rain and Emigrant mines and their demonstrated extension to the Dixie Flats/North Star property. The information on the adjacent projects is taken from publicly available sources and is not necessarily indicative of the mineralization on the Dixie Flats/North Star property.

Additional information on the Dixie Flats/North Star gold project can be found in the National Instrument 43-101 technical report entitled "Technical Report on the Dixie Flats/North Star Gold Exploration Property, Elko, Nevada," dated Sept. 21, 2022, which has been filed on SEDAR+.

Qualified person

Seth Cude, PG, RM, MSc, CPG, is a qualified person as defined by NI 43-101 and has reviewed and approved the technical information in this news release.

About Showcase Minerals Inc.

Showcase is a Canadian mineral exploration company with an exclusive option to acquire a 100-per-cent interest in Dixie Flats/North Star gold project and the Woodruff gold-vanadium project (subject to various net smelter return royalties ranging from 2.25 per cent to 4.25 per cent), which collectively consist of unpatented 254 lode mining claims covering approximately 1,818 hectares located in Elko county, Nevada.