Auxico Resources Canada Inc. announced results from the Company's 2023 exploration and sampling program conducted on the Minastyc Property, a Company-controlled critical mineral project located in Puerto Carreno, Vichada, Colombia. A total of 72 samples (64 samples excluding control samples) were collected across 27 pits over a distance of 2 km on the Minastyc Property. The results indicate the presence of Rare Earth Elements in all samples.

The majority of pits identified other critical minerals such as tantalum, niobium, tin and lithium. The Company's sample campaign ("2023 sampling campaign") conducted on the Minastyc property was conducted by Ricardo Sierra and Julian Salgado, the Company's Qualified Persons. Samples were taken across a Phase 1 area, a section of the Property previously defined in the Company's issued PTO Report (work program submitted to the Colombian National Mining Agency in February 2022), prepared by Ambiente y Comunidad Consultores S.A.S (AMCO) from Bogota.

The western part of the Minastyc Property was also sampled during this campaign. Summary of the 2023 sampling campaign: A project visit was conducted under the direction of Wilder Quiceno, mining engineer, and Ricardo Sierra, the Company's geologist, to identify and georeference various pits where points were selected to systematically cover the project area and then a stratigraphic survey was carried out. A total of 361 pits were identified on the Minastyc Property based on compiled data; according to what was observed, mineralization and the minerals of interest are hosted in gravel-size fragments primarily found on surface, with a depth of between 1 and 2 metres, where the majority of samples taken were in this stratum.

Total of 361 pits identified in the Minastyc Property, classified by depth. Total of 27 pits selected for stratigraphic survey and 2023 sampling campaign at the Minastyc Property.