Mandeville Ventures Provides Update on Proposed Qualifying Transaction with Sumer Resources Inc

Mandeville Ventures Inc. (TSXV: MAND.P) (the 'Corporation' or 'Mandeville'), a capital pool company listed on the TSX Venture Exchange ('TSXV'), announced today that, further to Mandeville's news release dated September 8, 2023, it has again extended the period for the completion of due diligence and the negotiation and execution of a definitive agreement in respect of its proposed business combination with Sumer Resources Inc. originally announced on June 13, 2023 (the 'Proposed Transaction'), to November 30, 2023.

In accordance with the policies of the TSXV, the Mandeville shares are currently halted from trading and will remain halted until such time as the TSXV determines, which, depending on the policies of the TSXV, may not occur until completion of the Proposed Transaction.

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Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to, TSXV acceptance and if applicable pursuant to Exchange Requirements (as that term is defined in the policies of the TSXV), majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

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