Mr. Devinder Randhawa reports

SHINE MINERALS CORP. UPDATE ON FINANCING

Shine Minerals Corp. has applied to the TSX Venture Exchange for approval to complete a non-brokered private placement to raise proceeds of up to $500,000 through the offering of units at 5.6 cents per unit. The units shall consist of one common share of the company and one common share purchase warrant. Insiders participating in the placement shall receive one-half warrant as part of the units purchased. Each full warrant entitles the holder to purchase one common share of the company at a price of 7.5 cents per share for a period of 12 months following the date of issuance.

Proceeds from the offering will be used for general working capital purposes.

The company further announces that it has entered into shares-for-debt settlement agreements to settle an aggregate $180,000 in debt through the issuance of debt shares at a deemed value of 5.6 cents per share to certain creditors of the corporation. There are no finders' fees or commissions payable in connection with the offering or the debt settlement transaction.

The issuance of the offering and the debt shares will constitute a related party transaction within the meaning of the TSX-V Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions adopted in the policy. The company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the debt shares, nor the debt, exceeds 25 per cent of the company's market capitalization (as determined under MI 61-101).

The offering and the debt Settlement is subject to the final acceptance of the TSX Venture Exchange. The company shares issued upon closing will be subject to a statutory four-month hold period.

Shine notes that the previously announced placement on April 28, 2023, was cancelled and replaced with the placement terms noted herein.

About Shine Minerals Corp.

Shine Minerals is a Canada-based natural resource focused company. The company is engaged in the acquisition, exploration, evaluation and development of mineral resource assets.

We seek Safe Harbor.