Ivor Exploration Announces Non-Brokered Private Placement

Vancouver, British Columbia--(Newsfile Corp. - April 1, 2022) - Ivor Exploration Inc. (CSE: IVOR) (the "Company" or "Ivor") is pleased to announce that it is undertaking a non-brokered private placement between 5,000,000 and up to 10,000,000 units (the "Units") at a price of CAD$1.00 per Unit for gross proceeds from between $5 million and up to $10 million (the "Offering").

Each Unit will consist of one common share (a "Share") and one-half of one transferable share purchase warrant (a "Warrant") exercisable into one additional Share at a price of CAD$1.85 per Share for a period of 12 months from the date of closing.

The Company may pay finder's fees and/or commissions to eligible persons in connection with the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").

The net proceeds of the Offering will be used for drilling and geophysics on the Apex project, Nevada, and for general working capital purposes.

In accordance with applicable securities laws, all securities issued under the Offering will be subject to a four month and one day hold period from the date of issuance. Closing of the Offering is subject to certain conditions customary for transactions of this nature including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United Sates, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Ivor Exploration Inc.

Ivor Exploration is focused on identifying and developing new energy resources, including the Ultimate copper-molybdenum project in British Columbia. The Company recently acquired an option to purchase a 100-per-cent interest in the Apex project, Nevada, recognized as Nevada's largest past-producing uranium mine.

FOR FURTHER INFORMATION PLEASE CONTACT: David Forest, Chief Executive Officer, at #1080 - 789 West Pender Street, Vancouver, British Columbia, V6C 1H2, phone: 604-417-2960, email: notelaadvisors@gmail.com.

The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Such statements are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the Company and management, as well as financial statements.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118854