North Peak Resources Ltd. has completed key commercial advances incorporated in its acquisition of the Prospect Mountain property located in Eureka,
Nevada (Property), announced by the Company on May 4, 2023. As required by the acquisition terms, a Nevada LLC named "North Peak Gold LLC" has been formed, with the Company's Nevada subsidiary (North Peak (Nevada) Ltd.) holding an initial 80% interest and Solarljos LLC (controlled by
the Erickson family of Nevada) holding the remaining 20% interest. The mining claims and rights and related permits that constitute the Property are in the process of being transferred into North Peak Gold LLC (Transfers). The Company has the right to acquire the remaining 20% interest by
issuing an additional 3 million common shares to Solarljos. As part of the formation of North Peak Gold LLC and the Transfers, Ty Erickson, MD has joined the Board of Directors of the Company and 5 million common shares of the Company have been issued to Solarljos. Solarljos now holds 16.65% of the outstanding common shares of the Company. The Company has the right to acquire the 20% interest in North Peak Gold LLC held by Solarljos (the
"Right") by issuing an additional 3 million common shares to Solarljos. The Company will have until 90 days after the third anniversary of completion of the Transfers to exercise the Right. If the Company decides not to exercise the Right, then the initial 80% interest in North Peak Gold LLC it holds is to be
transferred to Solarljos, and Solarljos will in turn return to the Company the 5 million common shares that have been issued to it.