Mr. Vartan Korajian reports

TANA AMENDS GOLDEN TRIANGLE KING - DOUBLE T PROPERTY AGREEMENTS

Tana Resources Corp. has amended the terms of its agreements on the 443-hectare Double T project located approximately 20 kilometres north of the former Snip gold mine in northwest British Columbia's Golden Triangle.

Tana has negotiated amendments to the cash payments and exploration work commitments with the vendors of the company's Double T property and has assigned the payment and work commitments for the adjoining King property to Goldrea Resources Corp. (CSE: GOR) in exchange for share payments from Goldrea. As outlined in the company's press release dated May 3, 2023, select grab gold values from 199.5 to 1.84 grams per tonne gold from King vein and three select grab samples of quartz veining in granodiorite from 49.8 to 32.1 g/t gold were reported from the King vein prospect and select grab samples of 528 and 20.5 parts per million silver, 11.6 and 3.43 per cent lead, and 25 and 3.53 per cent zinc were reported from the North zone prospect both of which are located within the Double T property.

Tana cautions investors select grab samples are selective by nature and are not necessarily indicative of the presence of significant mineralization on the King-Double T property.

"The historic King vein-Mist zone and North zone are both located on the Double T property and represent drill ready targets. After completion of the 2023 program, management will review the available data and make a decision regarding drill testing during the 2024 program," commented Tana chief executive officer Vic Korajian.

The Double T payments of $25,000 due Oct. 31, 2022, and a further $50,000 due Oct. 31, 2023, have been amended to $10,000 due December, 2023, an additional $15,000 due March 31, 2024, and a further $50,000 due Oct. 31, 2024.

The Double T exploration expenditure of $200,000 by Oct. 31, 2023, has been amended to $40,000 in expenditures by Oct. 31, 2023, and an additional $160,000 in expenditures by Oct. 31, 2024. Based on the amended terms of the agreement Tana will need to incur a total of $360,000 on or before Oct. 31, 2024. All other terms of the agreement remain in effect.

Pursuant to an assignment agreement dated Aug. 10, 2023, Goldrea will assume Tana's remaining obligations under a 50:50 joint venture agreement with Garibaldi Resource Corp. dated Oct. 31, 2021. These obligations include the issuance of 850,000 common shares to Garibaldi and a requirement to incur $450,000 in exploration expenditures on or before Oct. 31, 2024. In consideration for the assignment Goldrea has issued 100,000 common shares to Tana and will issue an additional 400,000 shares when Goldrea acquires a 50-per-cent interest in the King property from Garibaldi.

Tana's 2022 exploration program at King Double T met with success, necessitating the amendements to the existing agreement. The mapping and sampling program confirmed the historic sampling results at King vein and Mist zone and suggested to the company's consultant a relationship between the two with regards to vein orientation, vein morphology, mineralization and alteration warranting possible deeper drilling. Further, investigations in the area of historic drill hole TT88-07 noted alteration and mineralization associated with the targeted fault, but also along bedding planes parallel to fault, continuing with increasing distance from the fault, suggesting the hole may have missed the main mineralization. The company's consultants are currently completing additional work on the King vein and North zone prospects and will be providing an updated technical report that will include recommendations for the 2024 field program.

Qualified person

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo (British Columbia), a director of the Tana and a qualified person under National Instrument 43-101.

About Double T

The Double T property lies in an underexplored, prospective area of the Golden Triangle north of the former Snip mine, where recent, gold, polymetallic and porphyry copper prospects have been discovered. The King vein and North zone appear to spatially relate to the suspected southern projection of the regional McLymont fault, as supported by a series of historic airborne magnetic surveys.

Historic exploration has identified a number of mineralized areas including:

• King vein -- a flat lying quartz vein yielding grab sample highlights of 1,725 g/t gold;
  • 1988 drilling returned values ranging from 9.19 to 103.59 g/t gold (0.294 to 3.315 oz/t) over widths ranging from 0.43 to 0.50 metre (true width unknown);
• North zone -- a stratiform lead-zinc-silver zone returning highlight grab samples of 6.4 per cent lead, 31.3 per cent zinc and 890 g/t silver;
  • 1987 drilling returned values ranging from 0.01 to 7.3 g/t gold and 2.0 to 219 g/t silver all over widths of one metre (true width unknown).

The source of the exploration information is Tana's June 21, 2021, technical report on the Double T property by Derrick Strickland, found under Tana's profile on SEDAR.

Tana is earning a 70-per-cent interest in the Double T claim block by making a series of cash payments, share issuances and meeting a series of work commitments.

About Tana Resources Corp.

Tana Resources is a Canadian mining exploration company focused on the acquisition and development of high-value mining projects. The company's objective is to build shareholder value through the acquisition of projects with significant technical merit. The company's management team has many years of experience in exploration, finance and efficient public company management.

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