VANCOUVER - Alchemist Mining Incorporated (the 'Company') (CSE: AMS.X) is pleased to announce that, further to its News Release of June 6, 2022, it has issued 648,706 units of the Company at a deemed price of $0.145 per Unit in settlement of $94,062.50 debt owing to one creditor.

Each Unit is comprised of one common share (each, a 'Share') in the capital of the Company and one non-transferable share purchase warrant (each, a 'Warrant').

Each Warrant entitles the holder to purchase one additional Share (each, a 'Warrant Share') in the capital of the Company for a period of four years from the closing date at an exercise price of $0.145 per Warrant Share. The Shares and Warrants are subject to a statutory hold period expiring four months and one day after closing of the Debt Settlement.

Contact:

Charles Lee

Tel: +1 236 474 0315

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