Mr. Tim Froude reports

SOKOMAN MINERALS DRILLING UPDATE - MOOSEHEAD GOLD PROJECT, CENTRAL NEWFOUNDLAND

Sokoman Minerals Corp. has provided an update on the continuing drilling program at the 100-per-cent-owned Moosehead project. Diamond drilling has identified a new mineralized structure 200 metres to the east of the Eastern trend, the farthest east of any mineralization located to date. Dubbed the 552 zone, after the first hole that cut it, it has an apparent east-west strike, making it close to perpendicular to the Eastern trend, suggesting that it lies in a similar structural setting as the 463 zone but above the Eastern trend, in the hangingwall, whereas the 463 zone lies in the footwall of the Eastern trend.

Tim Froude, president and chief executive officer of Sokoman, says: "While not exhibiting high grade to date, the fact that the 552 zone structure has gold in it is good news as we know we can get variable grades interspersed with higher grades in all zones at Moosehead. On this property, we drill first for structure and then seek out the grade. I am extremely pleased with this development since we see sulphide minerals, commonly associated with the higher-grade Au, including boulangerite and sphalerite, and we are looking forward to evaluating this new zone. The presence of gold-bearing structures in MH-23-555 is also very significant as it is a wide stepout hole and confirms the presence of mineralizing fluids in this area and extends the Eastern trend to the east. We expect to go over the 100,000 m mark in the ongoing phase 6 program some time this month and look forward to continued drilling at Moosehead."

The mineralized quartz 552 zone has been intersected in all four holes (552, 553, 556 and 557) completed, with assays received for three of the four. Boulangerite and sphalerite, minerals associated with Au on the Moosehead property, are noted. The best grade intersected to date is 1.41 grams per tonne Au over 2.9 m in DDH 553 with 1.15 g/t over 2.95 m in DDH 552. The 552 zone has been tested by two sections of two holes each drilled from the same set-up giving a 10 m strike length, over a vertical range of approximately 25 m. The drilling tested a resistivity high noted in the winter Alpha induced polarization survey with several second-order targets also identified in the general area. A Noranda float sample from the late 1980s that assayed 10.3 g/t Au is located close to the 552 zone. The 552 zone remains open with approximately 2,500 m of drilling planned to test along strike and to depth.

Results include three holes in the Eastern trend footwall, testing for near-surface mineralization in the same orientation as the vein set in the deeper 463 zone. The 463 zone returned an earlier intercept of 39.60 m grading 12.50 g/t Au, including 10.5 m at 41.97 g/t Au (see Dec. 15, 2022, press release). The best results, from MH-23-548, gave 4.89 g/t Au over 3.55 m from 185.75 m down hole approximately 250 m northwest of, and 150 m vertically above, the 463 zone with a second zone intersected in DDH 548, giving 0.95 g/t Au over 4.20 m. Drilling will continue to test the footwall environment which remains very prospective for additional gold-bearing structures.

Reconnaissance holes MH-23-547, 549, 550 and 554 were drilled to test IP targets. Hole MH-23-555 was a 100 m stepout testing the down-plunge projection of the Eastern trend to the north. There are several zones of deformation in the hole with the strongest structure occurring from 586.4 m to 592.7 m. Here strongly deformed and broken quartz veins and vein fragments occur within a pyritized and broken, light-grey sediment. A second zone of weak deformation occurs from 464.4 m to 475.8 m with upward of 20 per cent stockwork and stylolitic textured quartz veins. This zone contains anomalous gold with occasional traces of pyrite, sphalerite and arsenopyrite with a best assay of 0.93 g/t Au over 0.40 m. The presence of multiple structures with mineralogy similar to high-grade zones elsewhere on the property is significant; additional drilling will be recommended for this area.

Qualified person

This news release has been reviewed and approved by Mr. Froude, PGeo, a qualified person under National Instrument 43-101 and president and CEO of Sokoman Minerals.

Analytical techniques/quality assurance/quality control

Samples, including duplicates, blanks and standards, were submitted to Eastern Analytical Ltd. in Springdale, Nfld., for gold analysis. All core samples submitted for assay were saw cut by Sokoman personnel with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman personnel. Eastern Analytical is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples with visible gold were submitted for total pulp metallics and gravimetric finish. All other samples were analyzed by standard fire assay methods. Total pulp metallic analysis includes the whole sample being crushed to minus 10 mesh, and then pulverized to 95 per cent minus 150 mesh. The total sample is weighed and screened to 150 mesh; the plus-150-mesh fraction is fire assayed for Au, and a 30-gram subsample of the minus-150-mesh fraction is fire assayed for Au; with a calculated weighted average of total Au in the sample reported as well. One blank and one industry-approved standard for every 20 samples submitted is included in the sample stream. Random duplicates of selected samples are analyzed in addition to the in-house standard and duplicate policies of Eastern Analytical. All reported assays are uncut.

About Sokoman Minerals Corp.

Sokoman Minerals is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The company's primary focus is its portfolio of gold projects; the 100-per-cent-owned flagship, advanced-stage Moosehead, as well as the Crippleback Lake; and East Alder (optioned to Canterra Minerals Corp.) along the central Newfoundland gold belt, and the district-scale Fleur de Lys project near Baie Verte in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The company also recently entered into a strategic alliance with Benton Resources Inc. through three, large-scale, joint venture properties, including Grey River, Golden Hope and Kepenkeck in Newfoundland. Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares (greater than 6,000 claims -- 1,500 square kilometres), making it one of the largest landholders in Newfoundland, in Canada's newest and rapidly emerging gold districts. In October, 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the United States, and exactly the right partner to have to advance the lithium project. The agreement provides for Piedmont to earn up to 62.5 per cent of the Killick lithium project (formerly Golden Hope project) by financing up to $12-million in exploration expenses and issuing $10-million common shares in three stages. The Killick lithium project has been transferred to Killick Lithium Inc., a 100-per-cent-owned subsidiary of Vinland Lithium Inc. Newly created Vinland has received $2-million in financing from Piedmont for a 19.9-per-cent interest, with the balance of ownership between Sokoman and Benton. Sokoman and Benton will continue to operate the exploration efforts at Killick through the earn-in stages. Sokoman and Benton will retain a royalty of 2 per cent net smelter return on future production. Piedmont will have exclusive marketing rights for the promotion and sale of any lithium products produced from the project on a life-of-mine basis, and the right of first refusal on 100-per-cent offtake rights to the lithium concentrates.

The company also retains a 1-per-cent NSR interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to Thunder Gold Corp. (formerly White Metal Resources Inc.), and in Labrador, the company has a 100-per-cent interest in the Iron Horse (Fe) project which has direct shipping ore (DSO) potential.

Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the company's property.

The company would like to thank the government of Newfoundland and Labrador for past financial support of the Moosehead project through the Junior Exploration Assistance Program.

We seek Safe Harbor