New Target Mining Corp. provided the current status of its permit application as well as guidance on its future exploration plans on its Scarlett Property (the "Property") for the 2023 field season. Building on the successes of the prior two seasons of exploration work conducted on the Scarlett Property, the Company began the process of filing a Notice of Work ("NoW") application with the Ministry of Energy, Mines and Low Carbon Innovation in the fall of 2022.

The NoW application is a 5-year multi-year work permit which requests approval for up to 3.20 line kilometers of Induced Polarization, (IP) geophysical surveys and includes eight drill pad locations for future diamond drilling to be conducted in 2023 through 2028. The Company reports that the application has been received and successively passed technical review by the Ministry of Energy, Mines, and Low Carbon Innovation and is proceeding as anticipated towards consultation. The Company hopes it will receive approval in the coming months setting the stage for a 2023 exploration season.

In anticipation, the New Target exploration team is actively developing a strategy for the 2023 work season which will include community and First Nations engagement, actively pursuing drill contractors, geophysics contractors and other support staff. The additional exploration work on the Scarlett Property is subject to obtaining the necessary permits and potentially additional financing depending on the size of the exploration work program.