Corcel Exploration Completes Data Compilation for Its Peak Property, British Columbia, Canada

Kelowna, British Columbia--(Newsfile Corp. - December 21, 2021) - Corcel Exploration Inc. (CSE: CRCL) (the "Company" or "Corcel") is pleased to provide its inaugural update with respect to its Peak Mineral Property located near Port Alberni, British Columbia, Canada (the "Peak Property" or the "Property").

The Company engaged Ridgeline Exploration Services Inc. of Kelowna, British Columbia, to complete an in-depth data compilation and analysis (the "Data Compilation") with respect to the Peak Property and surrounding vicinity. The goal of the Data Compilation was to allow Corcel to further refine targets for the Company's 2022 exploration plans which are expected to include an extensive soil sampling survey over the Peak Property.

Highlights of the Data Compilation include:

• An extensive exploration database was successfully digitized and compiled from five historic assessment reports highlighting work programs completed from 1983 to 2015.

• This exploration database now includes more than 900 B-horizon soil samples, 270 rock and chip grab samples, 15 silt samples, as well as 12 short diamond drill holes.

• The majority of the work completed historically was centered around four BC MINFILE locations including the Peak Lake, High-Grade, CM-240, and Emma, all of which are prospective for mesothermal-vein and skarn-type precious and base metal mineralization.

• The Company is now in the process of further analyzing and interpreting the various data within the exploration database, and will release further updates in regard to this work, as well as the Company's 2022 exploration plans, in due course.

The Company has been unable to dispatch a ground exploration crew to the Peak Property this month due to heavy snowfall in the region. The Data Compilation represents a practical first step for future exploration at the Peak Property once weather permits in 2022.

Qualified Person
The technical contents of this news release were approved by Case Lewis, P.Geo., a Qualified Person as defined by National Instrument 43-101.

About Corcel Exploration Inc.
The Company is a mineral exploration company engaged in the acquisition and exploration of mineral properties. Its initial objective is to focus on the exploration of the Peak Mineral Property located in British Columbia, Canada, for which the Company holds an option to acquire a 100% interest.

For further information contact:
Joel Freudman
President and Chief Executive Officer
Corcel Exploration Inc.
Tel: (647) 880-6414

Cautionary Statements
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

This news release contains statements and information that constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information is based on the reasonable assumptions and estimates of management with respect to the Company's exploration program at the Peak Property, which may ultimately prove incorrect. Forward-looking information herein includes statements relating to the Company's exploration program at the Peak Property, and its overall corporate and strategic planning.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to differ materially from the forward-looking information herein, including, but not limited to, challenges in analyzing exploration data, general risks associated with mineral exploration activities, volatility in commodity prices, and changes to corporate strategy. Accordingly, readers should not place undue reliance on any such forward-looking information. The Company does not undertake any obligation to update any forward-looking information herein, except as required by applicable securities legislation.

Not for distribution to United States newswire services or for release publication, distribution, or dissemination directly, or indirectly, in whole or in part, in or into the United States.

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