Leeward Capital Corp. Announces Shares for Debt Settlement and Grant of Options to Key Personnel

Calgary, Alberta--(Newsfile Corp. - February 23, 2023) - Leeward Capital Corp. (formerly LWC.V) ("Leeward" or the "Company") announced today that it has settled various debt and other outstanding obligations through the issuance of common treasury shares of the Company. The Company has also granted stock options under the Stock Option Plan approved by shareholders at the November 29, 2021 annual meeting.

Leeward had incurred debt for various services provided over the last four years with regard to accounting, legal, geological and management fees. These services were obtained as part of the extended process of bringing the Company's affairs into full compliance with regulatory and related good business practices, all of which was in aid of an application to remove a previous cease trade order issued by the Alberta Securities Commission. Significant time was spent bringing accounting and tax records up to date and completing the preparation and filing of three years of outstanding audits and interim financial statements and associated management discussion and analyses. Leeward management also spent an extensive amount of time and resources in support of the application to remove the cease trade order. Geological services were retained and supported each of the completion of an updated NI 43-101 on the Pistol Lake property, lease access permitting, and the updating and collection of relevant geological information with regard to the Pistol Lake and Nithi Mountain properties. This data and associated information has been added to the Company's website for ease of access for current shareholders and potential investors. In total, the amount of debt liability settled by the issuance of the common shares was $202,500, and 13,050,000 Class A Common shares of Leeward were issued in that regard.

The Directors have also approved option grants to Directors, Management and Key personnel pursuant to the Company's Stock Option Plan. These incentive options to purchase common shares are in recognition of past services and future efforts to realize on Leeward's business opportunities. The total number of options granted was 6,250,000 with an exercise price of $0.05 a share over a five-year term from the effective date February 14, 2023.

In commenting on these developments, Johannes Kingma, President and CEO of Leeward, stated, "Despite a long period of relative inactivity, the dedicated and joint efforts of a strong group of managers and industry experts has reactivated the status of Leeward as a reporting issuer and, more importantly, reaffirmed their believe in the viability and significant potential of the exploration projects that continue to be held by the Company. It is always an important and positive development when a junior company can obtain the commitment, support and input of experienced business professionals. In Leeward's case, that support represents tangible evidence that this group recognizes the exciting potential and opportunities presented by the Company's holdings and are willing to accept a high degree of compensation risk to align their interests with those of the existing shareholders."

About Leeward:
www.leewardcapital.ca

Leeward's focus is on the development of gold and molybdenum projects in Canada. Properties include the Pistol Lake Gold project in Nunavut, and the Nithi Mountain Molybdenum deposit in central British Columbia.

Leeward's Pistol Lake gold property has a dataset of dependable historical mapping, trenching and drilling, completed primarily by major exploration entity before Pistol Lake was acquired by Leeward. A NI-43-101 compliant Technical Report for Pistol Lake was completed by the Company and is available in the on Leeward's website and on SEDAR. Exploration is planned to build upon the current database in order to complete a scoping study for the Pistol Lake gold project.

The Nithi Mountain Molybdenum deposit is an intermediate stage project with combined inferred and indicated reserves of 387,192,000 tonnes of molybdenum ore. The details of these tonnages and recommendations for further drilling are described in the 2011 Tetra Tech Wardrop technical report available on Leeward's website. Leeward is confident that both grade and tonnage will be further advanced based on the technical review and recommendations. Nithi Mountain is located adjacent to past producer Endako mines, in an area with excellent infrastructure.

For Further Information

Contact:
Johannes Kingma CEO
Telephone: (403) 612-5655

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