Mr. Tim Froude reports

SOKOMAN MINERALS CORP. INCREASES FLOW-THROUGH PRIVATE PLACEMENT, ANNOUNCES HARD-DOLLAR FINANCING

Further to Sokoman Minerals Corp.'s Nov. 29, 2023, news release, due to overwhelming demand the company is increasing its flow-through private placement financing by $483,525 to total aggregate gross proceeds of $3,483,525. The FT financing consists of 6.5-cent units, each FT unit consisting of one flow-through common share of the company entitling the holder to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada), and one-half of a common share purchase warrant, each full warrant being exercisable for one additional common share of the company, each of which will not qualify as a flow-through share, at an exercise price of 13 cents for 12 months from the date of issue.

The company is also pleased to announce a non-flow-through 6.5-cent unit financing for aggregate gross proceeds of $208,000. The NFT financing consists of 6.5-cent units, each NFT unit consisting of one common share of the company and one common share purchase warrant, each NFT warrant being exercisable for an additional common share of the company at an exercise price of 13 cents for 24 months from the date of issuance.

All securities issued pursuant to the FT financing and the NFT financing will be subject to a four-month-and-one-day hold period.

In connection with the financings, the company may pay finders' fees in cash and broker warrants as permitted by the policies of the TSX Venture Exchange. The financings are subject to exchange approval.

The company will use an amount equal to the gross proceeds received by the company from the sale of the FT units, pursuant to the provisions in the Income Tax Act (Canada), to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures as both terms are defined in the Income Tax Act (Canada) on or before Dec. 31, 2024, and to renounce all of the qualifying expenditures in favour of the subscribers of the FT units effective Dec. 31, 2023.

The company intends to spend approximately 25 per cent of the gross proceeds on the Fleur de Lys gold project, and the remaining balance on its flagship Moosehead gold project.

Tim Froude, chief executive officer of Sokoman, commented: "We are grateful that our exploration plans for 2024, which entails diamond drilling on both the Moosehead and Fleur de Lys gold projects will be fully funded. A warm thank you to all our shareholders and investors for their unwavering support."

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 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.

We seek Safe Harbor.