Mr. Stephen Moses of Natbridge Resources reports

NATBRIDGE RESOURCES ANNOUNCES BINDING LETTER OF INTENT FOR PROPERTY ACQUISITION

Natbridge Resources Ltd. has entered into a binding letter of intent with Teras Resources Inc. for the purchase of certain mining claims and related property interests comprising the Cahuilla gold project in Imperial county, California.

The Cahuilla property is located in northwestern Imperial county, California, approximately two miles west of the community of Salton Sea Beach and 30 miles south of the city of Indio. The property lies in the eastern foothills of the Santa Rosa Mountains west of the Salton Sea. The Cahuilla property consists of approximately 1,680 acres of patented claims that cover portions of sections 19, 20, 29 and 30, T.9S., R.9E., San Bernardino Base, and Meridian. A detailed National Instrument 43-101 technical report dated March 10, 2021, provides more information on the project.

Per Natbridge chief executive officer and director Stephen Moses: "We are excited to move forward with the acquisition of the titles in the Cahuilla project. The project marks a significant step in our strategy to build a portfolio of properties that will meet the strict tokenization requirements set out by NatGold Digital Ltd. We thank the management team of Teras for their professionalism and look forward to collaborating toward a successful closing."

The acquisition is scheduled in two stages, each of which will require a separate agreement. The executed LOI provides terms for an agreement to acquire claims in phase 1.

Phase 1 covers title to two parcels comprising approximately 12,290,139 tonnes containing 122,211 indicated ounces of gold at a cut-off grade of 0.005 ounce per ton. Under the terms of the LOI, $50,000 (U.S.) is payable upon execution of the LOI and will be deductible from the total purchase price. An additional 10 per cent of the purchase price will be payable within 60 days of signature of a definitive agreement. The balance will be due after tokenization of the titles.

As part of phase 1, Teras will divest the subsurface mineral rights to the two titles and convey a 100-per-cent interest in the titles to Natbridge. Upon completion of full payment as outlined in a definitive agreement, Natbridge will no longer be responsible for any continuing fees related to the subsurface or the surface rights.

The parties agree to work toward negotiating an agreement for the additional titles represented in phase 2. The parcels in phase 2 include an indicated resource of approximately 50,702,466 tonnes containing 596,535 oz of gold at a cut-off grade of 0.005 ounce per ton. It is agreed that the phase 2 acquisition is expected to be based upon similar conditions as phase 1, including terms of payment following tokenization, although the payment schedule may be modified.

The parties have agreed to enter into a definitive agreement for the acquisition within 45 days, subject to the completion of satisfactory due diligence and compliance with all required regulatory requirements.

Closing of the acquisition is subject to the customary conditions, due diligence and the execution of the definitive agreement. There can be no assurance that the transaction will be completed as proposed or at all.

This LOI replaces and supersedes any prior agreements or arrangements entered into by Teras and Natbridge.

Lawrence Segerstrom, CPG, an adviser to Natbridge and a qualified person as defined in NI 43-101, Standards of Disclosure for Mineral Projects, has approved the scientific and technical disclosure in this news release.

About Natbridge Resources Ltd.

Natbridge Resources is a publicly traded Canadian company, also listed in the United States and Germany, leading the gold resource supply side of NatGold Digital's revolutionary, patent-pending digital gold tokenization ecosystem. This innovative approach redefines how gold's value can be captured through tokenization, eliminating extraction and its environmental, social and financial costs through a blockchain-powered, eco-friendly digital mining process. Natbridge's strategy is focused on the supply side of the NatGold ecosystem. By acquiring gold resources that meet the qualification criteria of NatGold Digital, in accordance with NatGold Digital's strict token certification standards, Natbridge is establishing itself as a key player in this industry -- operating at the intersection of three major global investment trends: gold, sustainable investing and the tokenization of real-world assets.

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