Decade Resources Announces a $720,000 Increase to the Private Placement Financings for Total Gross Proceeds of $2,970,000

Stewart, British Columbia--(Newsfile Corp. - August 17, 2023) - Decade Resources Ltd (TSXV: DEC) ("Decade" or the "Company") is pleased to announce a $720,000 increase to the private placement financings announced on August 14^th, to accommodate increased investor demand.

Decade has amended the agreement with REDPLUG Inc. to increase the size of the bought deal private placement by $480,000. Pursuant to the amended agreement, REDPLUG Inc. has agreed to purchase, on a bought deal private placement basis, 8,250,000 flow through units at a price of $0.24 per unit, for aggregate gross proceeds of $1,980,000 (the "Brokered Financing").

Decade has also increased the size of the non-brokered private placement by $240,000. Decade will issue 2,750,000 flow through units at a price of $0.24 per unit, for gross proceeds of $660,000, and 1,650,000 non-flow-through units at a price of $0.20 per unit, for gross proceeds of $330,000. (the "Non-Brokered Financing").

The Company expects to raise total gross proceeds of $2,970,000 from the Brokered Financing and the Non-Brokered Financing (together, the "Offering").

The unit terms remain the same as announced on August 14^th.

The share included in the non-flow-through unit is a common share.

The share included in the flow-through unit is a "flow-through share" as defined in the Income Tax Act (Canada).

Both the non-flow-through unit and the flow-through unit include one transferable warrant exercisable for the purchase of one additional common share, at a price of $0.32 per share, for 2 years.

The Offering is fully allocated.

Ed Kruchkowski, President of the Company comments: "The strong response to the financing, and high volume on the market, are a testament to the excitement surrounding our August 8^th announcement of a major copper discovery at our 100%-owned Nobody Knows copper project, near Terrace, BC. We appreciate the support of all of our shareholders, old and new."

Proceeds from the sale of non-flow-through units will be used for general corporate purposes.

Proceeds from the sale of flow-through units will be utilized for incurring flow through expenses that qualify as "Canadian exploration expenses" and "flow through critical mineral mining expenditures" as defined in the Income Tax Act (Canada). Flow-through proceeds will primarily be spent on the Nobody Knows Copper property, with a smaller portion to be spent on the Red Cliff property.

The Offering is subject to approval of the TSX Venture Exchange (the "TSXV").

All securities issued in the Offering will be subject to the statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.

Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. Ed Kruchkowski is not independent of Decade as he is the president of the Company.

ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.

"Ed Kruchkowski"
Ed Kruchkowski, President

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." "This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

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