Angel Wing Metals Inc. provided an exploration update at its La Reyna gold project located in the southern extension of the Sierra Madre Occidental Belt (SMO) in Nayarit State, Mexico. The Company will file a National Instrument 43-101 report titled "Technical Report, The La Reyna Project" under the Company's SEDAR profile and on its website. The 106.69 square kilometre (km2) La Reyna Project is a contiguous block of fully titled mineral claims in good standing that consolidates most of the historical Aguila de Oro mining district.

Assay results returned from nil to 27.12 grams per tonne gold (g/t Au) and nil to 2,938 g/t silver (Ag) from outcrop chip samples. Other anomalous results were also obtained for lead and zinc, as well as for copper, cobalt, bismuth, and molybdenum. A ground geophysics program including 11.2 line kilometres of Induced Polarization and 2 line kilometres of HSMAT is underway over El Polo-Dolorosa.

Data is being processed with a report including the sections and maps due in early February. This information will be used to further refine drill hole selection in anticipation of an early stage 4,000 metre shallow hole diamond drill program. During the 2023 exploration program, regional scale mapping and prospecting covered the Project while areas with vein exposure and gold showings were mapped and sampled in detail.

Approximately 2,000 rock chip samples were collected from outcrop exposures since exploration began. Assay results ranged from not anomalous to a maximum of 27.12 g/t Au, of these: 352 samples returned assays exceeding 0.25 g/t Au, 220 assays greater than 0.5 g/t Au, 130 assays greater than 1.0 g/t Au, 67 assays greater than 2.5 g/t Au and 22 assays greater than 5 g/t Au. In addition, silver (Ag) assay results ranged from not anomalous To a maximum of 2,938 g/T Ag, of these: 195 samples assayed greater than 10 g/t Ag, 90 samples assaying greater than 30 g/t Ag, 28 assays greater that 90 g/t Ag.

Results Three areas have been identified as the first priority targets to commence drilling: 1.guila de Oro Veins and breccia occur in northeast trending corridors with individual corridors mapped over approximately 500 to 750 metre widths, and open for extension in all directions within a larger 7 by 10 kilometre corridor. About 1,025 rock samples have been collected along this trend, which is still at an early stage of exploration. Assay results range from nil to 15.2 g/t Au but consistently return 2 - 15 g/t Au in the old workings.

Of these samples: Approximately 210 assays were greater than 0.25 g/t Ag, 134 assays greater than 0. 5 g/t Au, 75 samples greater than 1.0 g-t Au, 40 assays greater than 2.0 g/t Au. Additional structures are observed in the highwall of the small pit. These could not be systematically sampled due to access issues, but drill holes will be designed to crosscut them.

The El Polo fault crosscuts a northwest structural trend of mineralized veins, breccia's and disseminated mineralization. Assay results range from zero.12 g/t Au. Assay results range from 0.25 g/t gold, with: 110 samples returning greater than 0.25 g-t Au, 62 samples greater than 0.5 g-t Au, 21 samples greater than 2.5 g-t Au.

The Company's first drill campaign will begin in this high priority area. Assay results range from Nil to 2.5 g/t gold. Assay results range from 50 samples returning greater than 2.