Barsele Minerals Corp. provided an update regarding ongoing 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.

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 1 and April 30, 2023, data analysis, along with field-specific exploration activities continued at a number of exploration sites throughout the property. Work has included geophysical surveys, base of till sampling and analysis, plus analysis of previously collected MEFFA (multi-element fine fraction analysis) samples. The MEFFA sample interpretation utilizes automated pXRF scanning, together with laser ablation and ICP-MS, to define precious/base metal anomalous areas.

All this work has been carried out in preparation for this year's diamond drilling campaign. Structural, stratigraphic and lithological observations continue to evolve, with the objective to define both precious and base metals trends and targets. Studies related to gold occurrences associated with certain elements, minerals and alteration phases have been on-going to support targeting.

Diamond drilling since 2015, within the 34,533-hectare property totals 162,691 metres of overburden penetration and core collection from a total of 436 drill holes. One drill rig has been retained to carry out the 2023 diamond drilling campaign.