Barsele Minerals Corp. provide an operational update regarding 2022 exploration activities within the Barsele Gold-VMS Project area in Västerbottens Län, Northern Sweden (the "Barsele Project"). The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited - ("Agnico Eagle").

Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay requirement by Barsele until a pre-feasibility study is completed.

Between January 1st and December 30th, 2022, Agnico Eagle personnel and contractors have carried out office- related and field-specific exploration activities at a number of exploration sites throughout the property. Work included prospecting and mapping, diamond drilling, geophysical surveys, base of till drilling and water sampling, along with an extensive surface till sampling campaign (MEFFA), utilizing multi-element fine fraction analysis. Diamond drilling from June 3rd, through September 19th, within the 34,533-hectare property totaled 4,252 metres in 14 completed core holes.

Since late 2015, a total of 162,691 metres of overburden penetration and core collection has been tabulated from a total of 436 drill holes. Analytical results for all 14 drill holes from the 2022 drilling program are presented in this news release. Drilling took place at a variety of target areas including: Avan (AVA), Risberget (RIS), Norra (NOR), Skiråsen (SKI), Södra Sundträsket (SUN), and Bastuträsk (BAS).

At Avan, Expansion hole AVA22001, was drilled toward the SW and above hole AVA 18002 (sporadic high-grade gold hits) and intersected four zones with arsenopyrite mineralization and/or quartz veining. There were no anomalous precious or base metal results reported. Avan Expansion hole AVA22002, was drilled toward the NE and cut various granodiorite phases from 127 metres and encountered a number of discrete zones containing arsenopyrite and quartz veining.

Visible gold was detected at seven locations with scheelite encountered at three locations. The best result came from an 11.0-metre core length grading 1.78 g/t Au, that includes an 8.0-metre core length grading 2.24 g/t Au at a midpoint depth of 152 metres below surface. Avan Expansion hole AVA22003, was drilled 140 metres NW of AVA22002.

The hole cored granodiorite containing discrete zones with arsenopyrite and quartz veining, along with zones containing scheelite. The best result came from a 6.0-metre core length grading 1.13 g/t Au, including 3.0-metres grading 1.95 g/t Au at a midpoint depth of 47 metres below surface. Avan Expansion hole AVA22004, was drilled in a SW direction from the northern shore of Barseleavan Lake.

The hole cut mainly granodiorite, containing discrete zones with arsenopyrite and quartz veining. Visible gold was observed at two locations. The best results came from a 1.0-metre core length grading 10.10 g/t Au, at a midpoint depth of 25 metres below surface, plus a 1.0-metre core length grading 4.70 g/t Au, at a midpoint depth of 145 metres below surface, plus a 1.0-metre core length grading 4.20 g/t Au, at a midpoint depth of 245 metres below surface.

At Risberget, Regional hole RIS22001 intersected a zone of altered and arsenopyrite/pyrite/pyrrhotite mineralized andesite enclosed in brecciated black shale and mafic intrusive. The best result came from an 8.25-metre core length grading 0.95 g/t Au at a midpoint depth of 85 metres below surface. Risberget Regional hole RIS22002, cored into sequences of metasediment/greywacke, andesite and mafic intrusive.

The andesite is altered and mineralized including albitization and locally massive arsenopyrite at a number of locations. The best result came from a 3.0-metre core length grading 2.75 g/t Au at a midpoint depth of 69 metres below surface. At Norra, Regional hole NOR22001 cored into a sequence of rocks that represent the stratigraphic hangingwall of the Norra VMS mineralization.

The massive sulphide hosting horizon was encountered between 204.70 and 206.25 metres downhole. Weak arsenopyrite, sphalerite, chalcopyrite mineralization was encountered. There were no significant precious or base metal results reported.

Norra Regional hole NOR22002, was drilled 250 metres ESE of hole 22001. It was drilled to test for the northern limb of the Norra massive sulphide zone at depth. The only reported result came from a 1.0-metre core length grading 0.47 g/t Au at a midpoint depth of 135 metres below surface.

At Skiråsen, Regional hole SKI22001 was drilled to test the source of high-grade polymetallic boulders found roughly 200 metres to the SE of the hole collar. The hole encountered discrete zones with arsenopyrite mineralization. There were no significant precious or base metal results reported.

Skiråsen Regional hole SKI22002, was also drilled to test the source of high-grade polymetallic boulders to the SE of the hole collar. The hole encountered Cu and Zn enriched sediments that could partially explain the elevated soil anomalies. There were no significant precious or base metal results reported.

At Södra Sundträsket, Regional hole SUN22001 tested multi-element geochemical anomalies identified from MEFFA sampling, bottom moraine sampling and in-situ rock chip sampling. The hole cored tonalite and granodiorite with quartz veining and arsenopyrite between 110 and 120 metres. There were no significant precious or base metal results reported.

Södra Sundträsket Regional hole SUN22002, also tested multi-element geochemical anomalies identified from MEFFA sampling, bottom moraine sampling and in-situ rock chip sampling. The hole cored tonalite and metasediment. There were no significant precious or base metal results reported.

At Bastuträsk, Regional hole BAS22001 was drilled to test intersecting N-S and NE-SW interpreted structures based on ground magnetics. An intercept in gabbroic host rock yielded a 7.0-metre core length between 192 and 199 metres grading 0.32 g/t Au, associated with anomalous tungsten and arsenic, at a midpoint depth of 130 metres below surface. Bastuträsk Regional hole BAS22002, was drilled to test cross-cutting structures and to test for continuity of a high- grade 8.19 g/t Au intercept from 2021 drilling.

The hole cut a continuous zone of disseminated arsenopyrite mineralization with quartz/calcite veining between 164 and 184 metres. There were no significant precious of base metal results reported.