Mr. Bernie Sostak reports

TRANSATLANTIC MINING CORP. GOLDEN JUBILEE MINING RIGHTS BY ROYALTY OPTION

Transatlantic Mining Corp. has entered an agreement for the purchase of the lease rights over the Golden Jubilee mine from the Gunsinger Group Inc. The purchase consideration of $2.2-million (U.S.) is by way of a gold production royalty along with its obligated agreements in Granite county, Montana, United States. The mining leases cover approximately 292 acres in area and include the existing Golden Jubilee mine. The company had previously secured the underlying ownership rights to the property from Profile US Inc. on March 22, 2021, subject to the Gunsinger Group's lease rights. This acquisition gives the company complete ownership over the property including the strategically important Red Lion mill site.

The mine is approximately 12 miles east of Phillipsburg in Montana, U.S. In 2014, a 10,000-tonne high-grade gold parcel was mined by the previous operator. The parcel was toll treated through a third party gold processing facility. With this in mind, further exploration including additional drilling and underground sampling is considered warranted.

The following summarizes key points to the transaction:

• Full payment of $2.2-million (U.S.) for mining and exploration rights financed by the payment royalty between $100 (U.S.) and $250 (U.S.) per ounce Au dependent on the realized gold price;
• An additional set of payments of $250,000 (U.S.) made on milestone gold production of 20,000, 30,000 and 40,000 ounces;
• There are obligations to comply with an underlying Gunsinger lease agreement and rights to the use of the Red Lion mill site;
• Previous 2014 bulk high-grade gold parcel was taken along the vein along a strike length of over 100 metres of lateral development which averaged 10,000 tonnes at a processed grade of nine grams per tonne Au;
• An existing decline and 20 0m of horizontal development provides access to the mineralized vein across a vertical extent of 50 metres;
• Information derived from an existing 37-drill-hole database indicates that the mineralized vein is open along strike and down dip.

The transaction

Transatlantic currently own all of the title to the mineral rights at the Golden Jubilee claims with an underlying sublease to the Gunsinger Group for the mining rights. This current agreement gives Transatlantic the mining rights and ability to utilize the mill site with an option to purchase this sublease outright via a production based payment to a total of $2.2-million (U.S.). This gold production royalty payment is to be paid at between $100 (U.S.) and $250 (U.S.) per oz Au, dependent on the gold price realized at the time of gold production.

On the royalty payment completion, Transatlantic will also receive private land and title to the Red Lion mill site nearby.

On further milestones of produced gold from the Golden Jubilee mine, Gunsinger will receive additional payments of $250,000 (U.S.) when the 20,000, 30,000 and 40,000 ounces of gold production milestones are achieved.

About Golden Jubilee

The 22 Golden Jubilee claims are situated in Granite county, Montana, U.S., and have had a number of previous owners. There has been only limited exploration and mining on the regional Red Lion (vein) line, which is known to continue over a regional strike of seven kilometres in length. The Golden Jubilee mine is located in mountainous country at an elevation of approximately 2,350 m.

Historical production

Although some mining occurred prior to 2000 there are few productions records in existence.

Historical drilling

Previous exploration drilling has included 37 holes drilled prior to 2013 where the mineralized vein had been observed to be approximately 2.5 m wide with an 80-degree dip. Enrichments and wider mineralization up to 10 m widths have been observed on geological cross structures striking at an obtuse angle to the Red Lion vein trend.

Planned activity

Exploration drilling is under way but heavy snows have halted the drill program until the spring of 2022. Logging and sampling are under way on the current drilling. In addition, further technical studies are being progressed in line with required permitting requirements.

"The company now looks forward to progressing the project with the given mining and exploration rights. The grades and observations to date continue to support that high-grade gold exists in the mine area. Existing development infrastructure is in place with good, results from the previous toll treatment completed," commented Bernie Sostak, chief executive officer of Transatlantic Mining.

Further announcements will be made in regards to the activities as they transpire including drill results as they become available.

About Transatlantic Mining Corp.

Transatlantic Mining is an emerging precious and base metal explorer. The company has a focus on converting projects into mines within stable mining jurisdictions. The company currently has property interests, such as the 80-per-cent joint venture position on the Monitor copper-gold project in Montana/Idaho (U.S.). The company is in a lease to purchase arrangement at the Miller gold mine, also in Montana, to 100-per-cent ownership. The Golden Jubilee gold mine project 100 per cent owned adds to the district base for further development of the mineralized projects.