Mr. Timothy Froude reports

SOKOMAN UPDATES THE MOOSEHEAD GOLD PROJECT, CENTRAL NEWFOUNDLAND 552 ZONE TO BE FOCUS IN 2024

Sokoman Minerals Corp. has provided an update on the continuing exploration at its flagship Moosehead gold project. The highlight is the drilling results at the recently discovered 552 zone, located 400 metres (m) to the east of the Eastern trend, in the central portion of the property. Since receiving the stream crossing permit on Nov. 28, an additional six holes (890 m) have been completed with five intersecting the zone and the sixth collaring in an extensive fault zone (believed to be the Cape Ray-Valentine Lake shear zone), which was terminated after cutting 75 m of intensely deformed volcanic and intrusive units.

The 552 drilling has defined a continuous, two-to-five-metre-wide zone of quartz veining/quartz breccia, in variably deformed sedimentary units. Three holes intersected white quartz veins with specks of visible gold (MH-23-572, 574, and 575). The quartz veining is locally vuggy (epizonal type), located in a west-northwest-trending, 50-to70-degree northeast-dipping structure. The veins carry trace to 5 per cent sulphide minerals, including boulangerite, sphalerite, chalcopyrite, pyrite and arsenopyrite, the mineral assemblage common to most gold zones on the property. Drill hole MH-23-557, the fourth hole of the initial four holes on the 552 zone (MH-23-552, 553, 556, 557 -- see news release dated Nov. 2, 2023), intersected the zone giving 1.04 grams per tonne (g/t) gold (Au) over 3.65 m. Assays remain pending for holes MH-23-568 to 577 (10 holes), which includes all the recent holes at the 552 zone (MH-23-572 to 577).

Other completed holes on the property include:

• Three reconnaissance holes (MH-23-564, 566, 567) were drilled in the southern portion of the property, testing magnetic features believed to represent favourable structures. None of the holes intersected significant mineralization.
• Three reconnaissance holes (MH-23-558, 559, 563) were drilled testing Alpha IP targets located to the east of North Pond. All holes intersected unmineralized structures.
• Three holes (MH-23-565, 568, 569) were drilled adjacent to hole MH-96-05, drilled by Royal Oak Mines in 1996, which returned 259 g/t Au from a 10-centimetre quartz vein. MH-23-565 and 569 did not intersect significant mineralization, while MH-23-568 intersected a shear structure with pyritic quartz. Results are pending for MH-23-568 and 569.
• Two holes (MH-23-570, 571) were drilled to test quartz veining in drill hole MH-19-103, where two specks of visible gold were reported in 2019. Weakly mineralized quartz veining with trace to 2 per cent disseminated pyrite, sphalerite and arsenopyrite was intersected.
• Two holes drilled to the northeast of North Pond testing a possible east-west structure defined by magnetics did not intersect significant mineralization.

MH-23-574 featuring 552 zone veining -- five g/t Au over 2.10 m (64.55-66.65 m)

Timothy Froude, PGeo, president and chief executive officer, states: "The 552 zone is extremely significant as it represents an entirely new gold-bearing structure on the Moosehead property. We are already seeing signs of potentially high-grade mineralization with three of the five most recent holes carrying visible gold all within 50 m of surface. Of significance is the presence of mineralized float located near the 552 zone that returned 10.3 g/t Au and is believed to be derived from the 552 zone. The 552 zone is 400 m to the east of the main Eastern trend and it remains open. The closest mineralization is at the 253 zone located 150 m north of 552, which is poorly understood and requires additional drilling, and which may represent a parallel zone. Drilling planned to test the downplunge extent of the 552 zone in 2024 should also intersect any parallel structures, including extensions to the 253 zone where previous drilling returned 1.56 g/t Au over 1.60 m. We look forward to testing the 552 zone in Q1 2024 as any structure with gold has the potential for high-grade gold values as we have seen in every zone on the property. Phase 6 drilling completed now sits at 101,519 m, including 20,519 m in 70 holes in 2023. A proposed 2,500-metre winter program will commence in about two to three weeks and will focus on the 552 zone where we are starting to see improved grades and some visible gold."

QP (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 chief executive officer of Sokoman Minerals Corp.

Analytical techniques/QA (quality assurance)/QC (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 staff with one-half submitted for assay and one-half retained for reference. Samples were delivered in sealed bags directly to the lab by Sokoman staff. 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 is 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 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 (over 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.

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