Minto Metals Corp. reported the progress from its 2022 exploration drilling program at the Minto Mine located within the Selkirk First Nation's Territory in central Yukon, Canada. The Company reports updated drill results from its recently completed 2022 exploration drilling program at Minto North.

Drill hole 22EXP045 cut 1.91% Copper ("Cu") over 34.59 metres ("m") including 4.80% Cu over 10.10 m drill width from 194.19 m downhole in follow-up, step-out drilling from drill hole 21EXP003 that cut 1.58% Cu over 28 metres. These and other results represent mineralization west of the current NI 43-101 resource at Minto North. As of December 31, 2022 Minto has completed 53 holes for 28,438 metres.

Previous results for 2022 were reported in the press release dated April 28, 2022 and October 20, 2022. Drilling was conducted under the conditions and authorizations of Quartz Mining Land Use Permit# LQ00565 issued by the Department of Energy Mines and Resources, Yukon Government. Results released today are from five drill holes totalling 2,261 m. Results reported February 2, 2023 were drilled as 50-metre step-outs from mineralization intersected in hole 21EXP003 and 22EXP042 that successfully intersected 28 m @ 1.58% Cu including 9 m @ 3.50% Cu and 20 m @ 2.20% Cu including 5.05% Cu over 3.65 m, respectively.

Hole 22EXP044 was drilled 50 m north of 21EXP003 returned 20.14 m @ 1.71% Cu including 11.14 m @ 2.43% Cu. Hole 22EXP045 was drilled approximately 50 m southeast of 21EXP003 and returned 34.59 m @ 1.91% Cu including 10.10 m @ 4.80% Cu. Hole 22EXP046 was drilled approximately 50 m west of 22EXP042 but failed to return significant quantities of Cu mineralization.

Holes 22EXP047 and 22EXP048 were drilled 100 m and 150 m east of 22EXP045, respectively and returned thick, lower-grade Cu mineralization (49.38 m @ 0.45% Cu and 60.46 m @ 0.45% Cu, respectively), vertically 50 m deeper than mineralization encountered in holes 21EXP003, 22EXP042, -44 and -45. Mineralized host rocks (quartzo-feldspathic migmatite) and sulphide speciation (bornite and chalcopyrite) are consistent in all holes reported with a direct correlation between sulphide content and Cu grade. The results reported herein are well correlated with a moderate-strong chargeability anomaly detected during a 2010 Orion 3D DC-IP survey performed by Quantec Geoscience on the Mine Property.

Current interpretation suggests a western, fault-displaced downwards extension of the Minto North orebodies. The chargeability anomaly associated with mineralization reported measures approximately 350 metres by 150 metres.