Big Tree Carbon Inc. provided the following update on the developing carbon markets and own carbon offset projects. In recent news from the COP27 climate summit, US climate Envoy John Kerry revealed a new plan to raise money for climate initiatives in the developing world by selling carbon credits to companies wishing to offset their emissions. Kerry said the new US initiative should be "up and running" within a year.

Big Tree is evaluating current projects while working to increase partnerships with First Nations. Both voluntary carbon market and compliance carbon market projects are possible through the American Carbon Registry ("ACR") improved forest management and Verra Canadian forest carbon offset methodologies, respectively. The Federal Government's release of compliance project protocols are expected in the spring of 2023.

Lac Seul Pilot Project: The Lac Seul pilot project is currently awaiting an updated offset feasibility study by Anew Climate, LLC ("Anew", previously Blue Source Canada ULC). Kick-off of the project is expected to begin shortly after confirmation from the new Lac Seul Band council recently sworn in after elections Ogoki Forest Project: The Ogoki Forest project also has a pre-feasibility assessment from Anew. Based on this assessment, Big Tree entered into an offset development agreement with Agoke Development LP ("ADLP"), the First Nations forestry corporation which manages the Ogoki Forest management unit.

Big Tree has a 25% revenue sharing interest for up to 10 years on this project. This project is awaiting the release of carbon offset protocols for crown land, expected to be released in the spring of 2023 along with the awarding of an engineering contract to register and create the carbon offsets.