Mr. Matt Johnston reports

SAMA REPORTS UPDATE ON METALLURGICAL RECOVERIES AND IMPROVED LOCKED CYCLE TESTS RESULTS FROM THE SAMAPLEU AND GRATA NICKEL-COPPER-COBALT-PLATINUM GROUP ELEMENT (PGE) PROJECT, LOCATED IN THE IVORY COAST, WEST AFRICA

Sama Resources Inc. has completed the latest metallurgical test program applying a modified process flowsheet to its Samapleu-Grata nickel (Ni), copper (Cu), cobalt (Co) and platinum group element (PGE) project in Ivory Coast, West Africa. The latest metallurgical testwork comprised enhanced Locked Cycle Tests (" LCT" ) on composites from the Samapleu Main and Grata deposits, and batch testing on a composite from the Samapleu Extension zone. This testwork was completed by Blue Coast Research Ltd (" BCR "), a leading metallurgical testing and consulting company based in Parksville, British Columbia.

Highlights:

Composite samples from the Samapleu Main and Samapleu Extension zones, and from the Grata zone have all been tested using a slightly modified version of the treatment scheme described in the January 24, 2023 press release.

The Samapleu Main and Grata composites were both tested in locked cycle mode, yielding: 83% and 88% copper recoveries to copper concentrates assaying 26% copper grade and 27% copper grade, respectively. 67% and 72% nickel recoveries to nickel concentrates, both assaying 13% grade nickel. 51% and 61% cobalt recoveries to the nickel concentrates. 60% palladium recovery to both concentrates, with most of the palladium reporting to the nickel concentrate. 47% and 62% platinum recovery to both concentrates, with most of the platinum also reporting to the nickel concentrate.

Testwork on the Samapleu Extension composite demonstrated the process to be applicable to the Extension zone as well, though recoveries were lower. This composite yielded high concentrate grades of both the base and the precious metals.

"The metallurgical testing at Blue Coast Research continued improving the already excellent recoveries and concentrate grades using the Locked Cycle Tests. The high-grade nickel and copper concentrates are very attractive and of great value which could be further enhanced by the payable precious metals." stated Dr. Marc-Antoine Audet, President & CEO of Sama Resources Inc.

Flotation

A slightly refined version of the processing scheme described in the January 24, 2023 press release has now been applied to all three composites. This scheme relies entirely on flotation to produce direct saleable concentrates without the need for any further on-site metallurgy. The scheme is widely used in the industry and is relatively inexpensive. It is well-suited for application on remote mine sites.

The recent work culminated in locked cycle testing of the Grata and Samapleu Main composites. In these tests, both composites were subjected to the same scheme, and both responded similarly. This suggests material mined from both sources can be processed through the same plant and most likely can be blended.

Copper, nickel and cobalt results are highlighted below:

Copper flotation yielded 83-88% copper recovery, to concentrates assaying 26-27% copper. Nickel and cobalt misplacement to the copper concentrate was 3-4%. Nickel flotation yielded 67-72% nickel recovery to concentrates assaying 13% nickel. Cobalt recoveries were 51% and 61% for the Samapleu Main and Grata composites respectively.

In both cases a combined 60% of the palladium was recovered to the copper and nickel concentrates, the majority being recovered to the nickel concentrate. The palladium grades are expected to yield attractive payment terms from smelters. Platinum grades should in most cases be high enough to attract some payment, with recoveries to both concentrates of 47% and 62% from the Samapleu Main and Grata composites. Gold may also attract a small pay from both copper concentrates:

The Samapleu Extension composite was also subjected to two batch tests using the chosen flowsheet, primarily to assess the applicability of the same flowsheet to this part of the resource. No locked cycle tests were run on this composite. The tests yielded very similar concentrate grades to the locked cycle tests, again with good selectivity evident between the copper and nickel concentrates. Recoveries were somewhat lower, whichcan be ascribed to the batch nature of the test, even in locked cycle mode copper and nickel recoveries are still expected to be lower for this material.

Key results are shown below:

The copper and nickel concentrates assayed 19 and 21 grams per tonne (" g/t ") combined Pt/Pd respectively. Platinum and palladium would both attract good payment terms from such concentrates, while gold, assaying 4 g/t, will attract good pay from the copper concentrate. Cobalt assayed 0.8% in the nickel concentrate. Recoveries of these minor metals are difficult to project from batch tests but like copper and nickel, appear somewhat lower for Samapleu Extension based on this composite.

Qualified Person and Quality Assurance

The metallurgical technical information in this release has been reviewed and approved by Chris Martin C.Eng, MIMMM, Consulting Metallurgist , while the geological technical information has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.D. Geology, P.Geo, President and CEO of Sama, both acting as a 'qualified person', as defined by National Instrument 43-101 Standards of Disclosure for metallurgical reporting.

About Sama Resources Inc.

Sama is a Canadian-based , growth-oriented resource company focused on exploring the Samapleu nickel-copper project in Ivory Coast, West Africa. The Company is managed by experienced industry professionals with a strong track record of discovery. Sama is committed to developing and exploiting the Samapleu Nickel-Copper and Platinum Group Element Resources.

Sama's projects are located approximately 600 km northwest of Abidjan in Cote d'Ivoire and straddle both sides of the Ivorian and Guinean borders in West Africa. Sama's projects are located adjacent to the large world-class nickel-cobalt laterite deposits of Sipilou and Foungouesso, forming a 125 km long new Base Metal Camp in West Africa.

Sama owns 70% interest in the Samapleu nickel-copper project in Ivory Coast, with its joint venture partner Ivanhoe Electric owning 30%. Ivanhoe Electric has the option to purchase up to a 60% interest in the project. For more information about Sama, please visit Sama's website at

www.samaresources.com .

About Ivanhoe Electric Inc.

Ivanhoe Electric (NYSE American: IE, TSX: IE), is an American technology and mineral exploration company that is re-inventing mining for the electrification of everything by combining advanced mineral exploration technologies, renewable energy storage solutions and electric metals projects predominantly located in the United States . For more information, visit www.ivanhoeelectric.com

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