Mr. Rennie Morkel reports

SULLIDEN MINING CAPITAL ASSIGNS DAMARA PROJECT AGREEMENT

Sulliden Mining Capital Inc. has entered into an assignment and assumption agreement with Great Quest Fertilizer Ltd., pursuant to which it has agreed to assign its rights and obligations set out in a share purchase and subscription agreement dated July 9, 2023, as amended. Under the agreement, Sulliden has the right to acquire up to a 70-per-cent equity interest in a private Namibian company, which holds, either directly or through option agreements, 14 exclusive prospecting licences representing 307,778 hectares of exploration licences in Namibia (collectively, the Damara project). For more information about the agreement and Damara project, please see the company's press release dated July 10, 2023, which is available under Sulliden's SEDAR+ profile.

As consideration for the assignment, Great Quest has agreed to (i) pay $100,000 (U.S.) in cash, with $50,000 (U.S.) payable within 90 and 180 days of the assignment; (ii) reimburse Sulliden for fees and expenses incurred related to the agreement of approximately $80,000 (U.S.); and (iii) issue five million common shares of Great Quest. The assignment remains subject to customary closing conditions, including the approval of the TSX Venture Exchange, and is expected to close in early 2024.

Rennie Morkel, Sulliden's chief executive officer, commented:

"We are delighted to have entered into this agreement with Great Quest, which we expect will allow us to focus on developing our core uranium assets. We believe that Sulliden's business is now strategically aligned to support the global energy transition market and to benefit long term by being an integral part of the net-zero supply solution."

About Sulliden Mining Capital Inc.

Sulliden is a mining company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas, Australia and Africa.

We seek Safe Harbor.