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 ­("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.

Diamond drilling since 2015, within the 33,466-hectare property totals 165,936.52 metres of overburden penetration and core collection from a total of 453 drill holes. Coring in 2023 was carried out by NTK drilling of Finland. The 2023 diamond drilling campaign at Barsele commenced on June 14th and terminated September 8th.

In total 17 holes were drilled, testing five target areas: namely Risberget, Skiråsen, Norra SE Extension, Norra NW Extension (Stentjärn), Avan, Risberget North Quarry (3). One Avan hole was abandoned short of target depth. Only Risberget and Avan targets are discussed in this news release.

A comprehensive news release will be issued when the entire 2023 assay results and interpretations are compiled. At Risberget, 2023 drilling was designed to test strong top of bedrock gold anomalies and to test the northeastward projection from drill hole RIS22002 that cut 3.0 metres core length grading 2.75 g/t Au. The 2023 drill results identified a wide zone of strongly altered and mineralized rock that occurs some 2.6 kilometres southeastward, along the same structural corridor as do the Avan­Central­Skiråsen gold resource zones.

More drilling is warranted in this attractive evolving gold mineralized area. Hole RIS23001 intersected strongly albitized andesite, between 64 and 84 metres down hole, with arsenopyrite and anomalous gold mineralization occurring between 66 and 78 metres. This hole extends the anomalous gold mineralized trend over 250 metres along a northeasterly projection.

Assay results include 8.2 metres @ 0.39 g/t Au, 1.0 meter @ 1.49 g/t Au, 4.0 metres @ 0.55 g/t Au, 3.0 metres @ 0.44 g/t Au and 1.0 m @ 1.21 g/t Au. Hole RIS23002 intersected a broader and stronger zone of albitized and arsenopyrite mineralized andesite, that hosts anomalous gold values, between 45 and 104 metres down hole. Gold mineralization occurs between 46 and 97 metres.

Core analysis includes 12 metres @ 0.40 g/t Au, including 1.0 metre @ 1.24 g/t Au, plus 2.95 metres @ 0.30 g/t Au, plus 2.4 metres @ 0.39 g/t Au plus 5.0 metres @ 0.38 g/t Au. Hole RIS23003 intersected the same strongly altered zone of albitized and arsenopyrite mineralized andesite, with anomalous gold values, between 64 and 164 metres down hole. This drill hole tested rock approximately 50 metres beneath hole RIS23002.

The hole cut a discrete zone of arsenopyrite mineralization and quartz veining related to regionally important D-3 brittle ductile deformation. Analysis of the core yielded 4.0 metres @ 0.68 g/t Au, plus 11.0 metres grading 1.12 g/t Au, including 6.0 metres grading 1.8 g/t Au, plus 10.1 metres grading 0.51 g/t Au, plus 1.0 metre grading 1.62 g/t Au.