Mr. Keith Henderson reports

VELOCITY REPORTS 2023 AGM RESULTS

Velocity Minerals Ltd. has released the results of its annual general meeting of shareholders held on June 22, 2023, in Vancouver, B.C. All the motions presented to the shareholders were approved.

Votes representing 103,649,770 shares were cast, representing 60.40 per cent of the issued and outstanding shares at the record date. A summary of the meeting results is outlined in the attached table.

2022 ESG (environmental, social and governance) report

The company has published its third annual ESG report, which is available for download on the Velocity website. In the report, the company outlines the company's continued focus on environmental stewardship, local stakeholders and leadership in the community. The report highlights some of the work the company has done in Bulgaria, including provision of free medical checkups in the community, directed toward women's health and curation of a local exhibition called Treasures of the Earth, which provides education on natural resources. Velocity welcomes feedback from shareholders and stakeholders regarding the work summarized in the report.

Incentive stock options

The company announces that it has granted 3,365,000 common share stock options to various directors, officers, employees and consultants of the company and its affiliates. The options entitle the holder to purchase shares at a price of 16 cents per share (which price is the five-day market VWAP) for a period of five years from the issue date. Options will vest over three years, beginning six months from the date of issue and vesting in equal tranches biannually thereafter. Including this issuance, the company has now set options representing 5.2 per cent of the issued and outstanding stock.

About Velocity Minerals Ltd.

Velocity is a precious metal and copper explorer focused in Europe. In Bulgaria, Velocity has a 70-per-cent interest in the Tintyava property, which includes the prefeasibility-stage Rozino deposit. Velocity also has a 70-per-cent interest in the Momchil property (which includes the Obichnik project), a 70-per-cent interest in the Nadezhda property (which includes the Makedontsi project) and a 70-per-cent interest in the Dangovo property (which is contiguous with the Makedontsi project). The company holds a 100-per-cent interest in the Iglika copper-gold exploration property and recently entered into an option agreement with Dundee Precious Metals, which has an option to earn a 75-per-cent interest in the property. The company has also entered into an agreement to acquire a 75-per-cent interest in the Zlatusha copper-gold exploration property.

We seek Safe Harbor.