Exploits Discovery Corp. announced its plan to commence drilling at Bullseye's fully-permitted, 100%-owned, southern claims located along the Appleton Fault Zone ("AFZ") in Central Newfoundland early in 2024. Drilling plans are underway to test the eastern strike potential of the high-grade "Jackpot" gold zones recently reported by New Found Gold Corp.

("NFG") on their claims bordering the southern segment of the Bullseye property. This results-driven program will initially consist of 2,500 metres of diamond drilling. The Company's VLF and Magnetics ground geophysical surveys, coupled with 2023's high- resolution LiDAR mapping (airborne Light Diffraction and Ranging), indicate a complex network of second-order splay structures exist within Bullseye; several appear to align on-trend with NFG's gold mineralization reported at Jackpot and Everest.

The Bullseye property has been fully permitted by the provincial government with the capacity to drill throughout 2024. Mineralization at the Bullseye property is hosted within a fold-thrust sequence of northeast-striking, steeply dipping, fine sediments. These rocks were deposited and deformed during the closure of the Iapetus Ocean and subsequent continent-continent collision.

The AFZ is a regional scale deformation zone that developed during this period. The AFZ likely serves as a primary conduit for gold-bearing fluids. Numerous secondary brittle faults within the 1200 x 800 metre envelope surrounding the AFZ form a structurally-complex network that could possibly host gold-enriched quartz veins.

Visible gold has been noted within 8 of 30 relatively shallow exploration holes drilled at Bullseye during 2023, contributing to several locally high-grade intercepts. Several wide intervals of composited gold assay values in the 1-3 g/t range, are linked to quartz veining with elevated sulphide content. Notable sulphide minerals, such as pyrite, arsenopyrite, and boulangerite have been observed within the veins and in the surrounding host rocks.

Within the property's centrally located Horseshoe zone, visible gold is found in brecciated and locally annealed vuggy quartz veins, features typically characteristic of epizonal, orogenic gold systems. The Bullseye claims were staked by Exploits in September 2022, and are contiguous to the several hi- grade gold targets actively being drilled by both NFG and Labrador Gold. The claims are considered by the Company's geologists to be highly prospective because they directly overlay a 1,200 by 800 metre segment of the Appleton Fault and its related splay structures. Over a dozen exploration drill rigs have been employed by the three companies operating within this structural-stratigraphic setting over the past three years.