Mr. Kirk Reed reports

SHOWCASE ANNOUNCES DRILL TARGETS AT THE DIXIE FLATS-NORTH STAR PROJECT, NEVADA

Showcase Minerals Inc. has designed a 12-hole angled drill program from five drill pads totalling 12,000 feet of drilling at its Dixie Flats/North Star property located in Nevada. The angled holes are designed to penetrate the Chainman shale, the Webb mudstone and the Devils Gate limestone near mineralized structures. The interfaces of these three units along geologic structures host the primary mineralization at the property, and interpretation of the new CSAMT (controlled-source audio-frequency magnetotelluric) data has provided exciting drill targets to refine the location of these structures. This new drilling should significantly increase the confidence in the location of the structures locally and will be highly valuable in improving the structural and lithologic models of the property.

The primary north-northeast-south-southwest structure along trend with the Dark Star gold deposit is targeted by multiple angled holes, crossing the interpreted structure-bearing mineralization. A second exciting target has been identified as a crosscutting structure and is also being targeted with multiple drill holes. The remaining holes in the program are designed to expand the zone of known mineralization to the south along the primary structure.

If ore-bearing mineralization is successfully identified in both targeted geologic structures, this exploration will confirm the presence of a previously unidentified crosscutting feature to the primary mineralization trend of the region. This would greatly increase the known body of mineralization at the project.

Showcase is currently reviewing the drill program with several potential drillers and plans to have the bits turning this spring to begin a phase 1 drilling program.

About the Dixie Flats/North Star gold project

The Dixie Flats/North Star project 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 project 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.

The Dixie Flats/North Star project 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 project 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 project. 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 project.

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.