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 East.

Drill hole 22-SDME-007 cut 5.53% Copper, 1.85 grams per tonne Gold, 20.37 g/t Silver over 8.66 metres in exploration drilling to depth below the current Minto East orebodies. This result and additional drill results represent a new mineralized lens below the Minto East orebodies. Assay and Drillhole Analysis: At December 31, 2022 Minto had completed 53 holes for 28,438 metres.

Previous results for 2022 were reported in press releases dated April 28, 2022, October 20, 2022 and February 2, 2023. 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 are from ten drill holes totalling 4,845.5 m. Results reported were drilled as part of collaborative drilling between the Mine Operations and Exploration departments at Minto.

Mine Operations drilling aimed to increase the confidence level in Minto East lenses 151 & 152. Exploration drilling aimed to explore the area approximately 100 m below Minto East lens 152; an area with no historical drilling. Results from the Mine Operations infill drilling are not reported in these results as they do not constitute exploration or a new discovery.

All the drill holes were collared from a common drill setup and drilled in a clockwise, fan-approach. All drill holes intersected typical Minto-style, stacked, lensoidal mineralization of varying thickness and sulphide content. Mineralized host rocks (quartzo-feldspathic migmatite and gneiss) and sulphide speciation (bornite and chalcopyrite) are consistent in all holes reported with a direct correlation between sulphide content, speciation and Cu grade.

The new lens, initially termed 150 Deep, exhibits continuity across dimensions of 60 m x 75 m with drill-indicated thicknesses greater than 5 m. The exploration target area for 150 Deep is approximately 120 m x 180 m. Although not a primary target, all but one hole (22-SDME-007) intersected the apparent continuation of Minto East Lens 155. Outlook: Minto completed 28,438 m from 53 drill holes of Exploration drilling in 2022. The Company is awaiting the final assay results from the assay lab and subsequent QA/QC reports for the remainder of the drilling.

These are expected and will be reported later in First Quarter 2023. The Company has received preliminary data and interpretations regarding data clustering analyses and structural mapping from ALS Goldspot Discoveries ("Goldspot"). Minto expects preliminary machine-learning generated prospectivity mapping along with prioritized drill targets from Goldspot before Second Quarter 2023.