Ms. Isabelle Proulx reports

STELMINE CANADA INCREASES THE SIZE OF ITS MERCATOR PROPERTY BY 165 KM2

Following a successful outcome of the recent maiden drilling campaign on its 100-per-cent-owned Mercator property, Stelmine Canada Ltd. has acquired 310 new claims, expanding the property to the east and southwest to constitute a block totalling 560 square kilometres. The area now represents 1.5 times the surface of the island of Montreal. The new claims were staked in the metamorphosed Opinaca metasedimentary basin in areas favorable to the discovery of gold mineralization in a geological setting similar to that of the Meridian zone at the core of the property. Stelmine will continue regional and more detailed investigation of this vast terrane located 150 km west of Fermont, Quebec during the course of next year.

Isabelle Proulx, President and CEO of Stelmine declares: "The addition of new claims demonstrates our strong commitment to the exploration of the Caniapiscau district. Already, the Company has a head start in the knowledge of the mining potential of the district. We have a simple approach, to secure our discovery and the interests of our shareholders. It was essential to acquire these new claims before the 2022 Xplor meeting where we showcased boxes of core material drilled from Mercator. Indeed, even if no assay results were presented, another junior mining company took land positions in the Caniapiscau during the convention".

New Website

Stelmine is pleased to announce the launching of our new website. In this more lively and interactive platform, you will immerse yourself in the world of mining discoveries. You will find new information, short clips and pictures of our Mercator and Courcy properties. Come to visit us.

Qualified Person

The technical information in this news release has been reviewed and approved by Michel Boily, PGeo, PhD. Mr. Boily is the qualified person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Stelmine Canada

Stelmine is a junior mining exploration company pioneering a new gold district (Caniapiscau) east of James Bay in the under-explored eastern part of the Opinaca metasedimentary basin where the geological context has similarities to the Eleonore mine. Stelmine has 100% ownership of 1,456 claims or 772 km Superscript 2 in this part of northern Quebec, highlighted by the Courcy and Mercator Projects.

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