Mr. James Currie reports

ANACORTES MINING RETRACTS EARLIER ANNOUNCEMENT OF OTCQB LISTING

Anacortes Mining Corp. is correcting its Jan. 13, 2022, announcement that its common shares have been listed for quotation on the OTCQB Venture Market in the United States under the symbol XYZFF. While Anacortes is now trading on the OTC Pink Current Market, and it has applied to list on the OTCQB Venture Market, the company's application to list on the OTCQB is still in progress.

The company's common shares continue to trade in Canada on the TSX Venture Exchange under the symbol XYZ.

About Anacortes Mining Corp.

Anacortes is a new growth-oriented gold company in the Americas, which owns a 100-per-cent interest in the Tres Cruces gold project located in Peru. Tres Cruces is one of the highest-grade oxide deposits globally and hosts oxide plus sulphide indicated resources of 2,474,000 ounces at 1.65 grams per tonne gold and inferred resources of 104,000 oz at 1.26 g/t gold, inclusive of 630,000 oz of high-grade leachable gold at 1.28 g/t gold. Anacortes is well capitalized and intends to aggressively advance Tres Cruces through feasibility and to production under a heap leach open-pit scenario. Additionally, Anacortes will continue to seek further growth opportunities in the Americas, with the goal of creating the next mid-tier multiasset gold producer.

James (Jim) Currie, PEng, is a qualified person as that term is defined in National Instrument 43-101. Mr. Currie has read this news release and takes responsibility for the technical disclosure contained in this news release.

We seek Safe Harbor.