Miramis Mining Provides Phase 1 Exploration Plans at its Nicola East Project

Vancouver, British Columbia--(Newsfile Corp. - October 25, 2023) - Miramis Mining Corp. (the "Company") is pleased to announce its Phase 1 exploration plans for the Nicola East Mining Project, located approximately 25 km east of the mining town of Merritt, British Columbia. The project is in a friendly mining jurisdiction and has excellent infrastructure being workable 365 days of the year with highways and logging roads surrounding the property, including all the necessary power and water needs. The project is located within the southern Quesnel Trough which hosts many active mines and exciting development projects nearby including NewGold's New Afton Mine, Copper Mountain's Copper Mountain Mine, and more.

The project has several prospective untested Cu-Au porphyry and epithermal showings of which the Company intends to explore and understand through its upcoming exploration. In 2021, ~$110,000 CAD was spent on an airborne magnetic survey, and Miramis intends to carry out its Phase 1 exploration on the project by completing the following in order to advance the asset and determine potential drill targets:

• Ground truth anomalies from the 2021 airborne geophysical survey
• Geochemical survey across prospective inferred intrusions
• Geological mapping and prospecting across historic anomalies and available outcrop

Miramis' Director and VP of Exploration, Jeremy Hanson, stated: "The Nicola East Mining Project is a highly prospective and underexplored package in a great jurisdiction. Our Phase 1 exploration will aim to unlock its potential through systematic evaluation and exploration."

Miramis' Chief Executive Officer, Morgan Good, commented: "The Company is excited to get out on the ground over coming weeks to learn more details about the potential of Nicola East, as well this work program represents a key next step in advancing towards our public listing."

Miramis will update the shareholders further in due course prior to mobilizing the Phase 1 work. The Company is also currently finalizing a listing application and anticipates submitting it to the TSX Venture Exchange (the "TSXV") in Q4 2023 with intentions of listing in H1 of 2024.

ON BEHALF OF THE BOARD

"Morgan Good"

Morgan Good
Chief Executive Officer
T: 604-715-4751
E: morgan@miramismining.com

Notice Regarding Forward-Looking Statements

This news release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the anticipated implementation of the Phase 1 exploration plans and the anticipated TSXV listing timeline. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that such forward-looking information is based upon a number of estimates and assumptions of management in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this news release including, without limitation, that the Company will implement the Phase 1 exploration as anticipated, that the Company will apply for the TSXV listing as anticipated and that the required approvals for the TSXV listing will be received in the expected timeline or at all.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others: the risk that the Company may not be able to complete the Phase 1 exploration program as anticipated or at all and the risk that the Company may not receive the required approvals for the TSXV listing in the expected timeline or at all.

The forward-looking statements contained in this news release are made as of the date of this news release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185210