Mr. Denis Laviolette reports

EARTHLABS REPORTS RESULTS FOR THE SECOND QUARTER OF 2023

Earthlabs Inc. has released the unaudited consolidated financial results of the company for the three and six months ended June 30, 2023.

"Despite significant junior resource market challenges, this quarter showcases the resilience and adaptability of Earthlabs. Our significant growth in advertising revenue and continued investment in innovative technologies underscore our commitment to pushing the boundaries and creating lasting value for our stakeholders. We remain steadfast in our vision, and with our strong financial position, we're well poised to capitalize on new opportunities and drive further growth," said Denis Laviolette, executive chairman and chief executive officer of Earthlabs.

Highlights for the three-month period ended June 30, 2023:

• Advertising revenue of $298,320 as compared with $198,691 for the three months ended June 30, 2022;
• Net investment losses of $693,821 from the company's investment portfolio as compared with net investment losses of $8,083,620 for the three months ended June 30, 2022;
• Net loss from operations of $1,801,140 (basic loss per share of one cent) as compared with net loss from operations of $8,973,182 (basic loss per share of seven cents) for the three months ended June 30, 2022;
• Net loss and comprehensive loss of $1,801,140 (basic loss per share of one cent) as compared with net loss and comprehensive loss of $8,902,184 (basic loss per share of seven cents) for the three months ended June 30, 2022.

Highlights for the six-month period ended June 30, 2023:

• Completed the six-month period with total cash and cash equivalents, due from brokers, investments and equity investments, of $51,875,403 as compared with $52,546,191 as of Dec. 31, 2022;
• Advertising revenue of $1,088,814 as compared with $605,672 for the six months ended June 30, 2022, an increase of 79.8 per cent;
• Net investment gains of $2,734,954 from the company's investment portfolio as compared with net investment losses of $8,342,094 for the six months ended June 30, 2022;
• Net income from operations of $464,791 (basic earnings per share of nil) as compared with net loss from operations of $9,845,931 (basic loss per share of seven cents) for the six months ended June 30, 2022;
• Net income and comprehensive income of $464,791 (basic earnings per share of nil) as compared with net loss and comprehensive loss of $9,521,242 (basic loss per share of seven cents) for the six months ended June 30, 2022.

Total signed advertising contracts year to date as of July 31, 2023, represent $1,754,000 which will continue to be serviced throughout the remainder of the year.

Summary of financial results

The attached table shows selected unaudited consolidated financial results as at and for the three and six months ended June 30, 2023, with comparatives.

About Earthlabs Inc.

Earthlabs is a mining investment and technology company that aims to maximize torque to the junior resource sector with $50-million in cash and investments, a royalty portfolio, and a full suite of data-driven media software-as-a-service tools and services, including CEO.CA, the largest social media platform for resource investors, and DigiGeoData, a software-based interactive mapping interface which provides Earth modelling, geology data management and specialized financial products.

We seek Safe Harbor.