TEAKO MINERALS CORP. announce that it has significantly increased the size of its Vaddas-Birtavarre copper-cobalt project in northern Norway through the granting of an additional 72 new exploration claims totalling approximately 665 square km. The newly-staked ground compliments the original 16 claims over which the Company has an option to acquire a 100% interest from Capella Minerals Limited.

The former Vaddas-Birtavarre mining district contains several known Caledonian-age semi-massive to massive sulfide deposits and is interpreted by the Company to hold the greater potential for new copper-cobalt discoveries in Norway outside of the central Trondelag province. The newly granted exploration claims are 100% owned by Teako and will have no minimum work commitments or landholding costs in 2024. The Vaddas-Birtavarre project, to be known henceforth as the Vaddas project, is now the larger copper-cobalt project in Norway with a combined 796 square km.

The Vaddas copper-cobalt project is situated in the past-producing Vaddas-Birtavarre copper VMS district of northern Norway and has approximately 6,000 meters of historical drilling conducted on the property. The Vaddas-Birtavarre district is located in the Troms Province, approximately 60km east of the regional center of Tromsø. The property has excellent access through all-weather paved highways and gravel roads as well as multiple historical deposits, adits, and past-producing smelters.

The Vaddas-Birtavarre district contains several known Caledonian-age semi-massive to massive sulfide deposits, which are hosted within different stratigraphic levels: a lowermost greenstone unit (locally pillow basalts) hosts copper-cobalt mineralization at the northern part of the project, whilst an overlying metasedimentary sequence hosts copper-cobalt mineralization at the southern part of the project. The ore-bearing formation of the southern part of the project where Birtavarre is located is known as the Ankerlia Series and is underlain by layered metamorphic schists belonging to the Caledonian orogenic belt. A westward-plunging anticline runs through the Moskogaissa area in the southern part, with studies of the historically mined deposits showing smaller-scale folding and brecciation of the ore.

Historically, the area was exploited for copper and zinc, with the known mineralized bodies relatively flat-lying lenses, parallel to stratigraphy, and occurring as several horizons. The southern part of the project has very high copper grades, higher zinc, and lower Cobalt when compared to the mineralization style in the northern part of the project. The Company's Corporate partner, The Coring Company, is currently in the process of digitizing all current and historical data (including some 6,000m of historical drilling) from the Vaddas project within the SCS exploration data and project management software module.

The Vaddas property contains numerous targets stretching from the north of the property to the south. Among them are: The Vaddas Target with mineralization over 3.5 km along strike, and open at depth, dipping to the W, and outcropping. It contains several drill-ready targets and shows high cobalt content associated with copper.

Mineralization is remobilized and sulphide-rich, and over 6,000m of historic drilling along a 3.5 km strike, but mostly shorter holes (<50m) carried out by packsack drill. Grab sampling1 carried out by Capella Minerals Ltd. returned assays with cobalt and copper grades ranging from below detection limit to the highlights indicated below. D125038 containing 0.51% Co and 3.40% Cu (or 5.1% Cu equivalent.

D125035 containing 0.47% Co (or 1.6% CuEq). D125029 containing 5.23% Cu and 0.05% Co (or 5.4% CuEq). The Indre Gressdal target has returned grab/rock chip samples1 from outcrop that show mineralization extends over 750m along strike, while Geophysics (ground EM) defines a >1km long target.

Mineralization trends NNE, dips steeply to the east, and outcrops along the majority of the strike. Mineralisation is a remobilised, suliphide-rich ore, the target is drill ready and has had no historic drilling. Highlights from Capella´s sampling program include: D125040 containing 7.77% Cu + 0.78% Zn (or 8.0% CuEq)(see photo 2 at the bottom of this news release).

D125060 containing 4.69% Cu + 0.1% Zn (or 4.7% CuEq). The Jiekkejavre Target at which the mineralization strikes west with remobilized, copper- rich sulphide mineralization. Historic sampling gave grades of 1.5-3% Cu and an average thickness of 1.5m at surface.

The Moskodal Target has had periodic historic mining from 1903 ­ 1930, producing 1068 tons of Copper from several adits. Mineralization is open at depth and along strike, with the western continuation proven by historic diamond drilling intercepting 4.8m of 2.67% Cu. Highlights of NGU sampling of the tip at Moskodal gave samples yielding 12.5% Cu, and 6.7%.

NGU outcrop samples at Moskodal included 9.66% Cu and 6.73% Cu. Cobalt is associated with the copper mineralization with the NGU tip and outcrop samples assaying between 0.03%-0.06% cobalt. To view a photo of the Moskodal dump see photo 3 at the bottom of this news release.

The Moskogaissa 125 target contains a small excavation and no historic drilling. Potential 1km length target indicated by coincident regional Airborne EM anomaly and elevated copper-zinc values from the excavation (photo 4 at the bottom of this news release). Capella took 4 grab samples1 from the dump at the excavation, aiming to sample the various styles of mineralization observed.

The results yielded: D12549 containing 6.66% Cu and 2.25% Zn (or 7.3% CuEq). D12550 containing 4.97% Cu and 0.45% Zn (or 5.1% CuEq). D12551 containing 5.94% Cu and 0.40% Zn (or 6.1% CuEq).

D12552 containing 1.55% Cu and 13.52% Zn (or 5.5% CuEq). Other rock-chip samples1 taken during the Capella summer 2022 field campaign also returned encouraging results in the Birtavarre area in the southern part of the project, with: D125056 containing 10.52% Cu. The Company reminds investors that grab rock chip samples are select samples and may not be representative of all mineralization on the Vaddas property.

Copper equivalent grades are calculated using London Metal Exchange metals prices on January 18, 2024, of USD 8,351/t for copper, USD 29,135/t for cobalt, and USD 2,462/t for zinc and assuming 100% metallurgical recoveries. The Vaddas - Birtavarre district represents, in the Company's view, one of the highest potential areas for new copper-cobalt discoveries in Norway outside of the central Trøndelag province. Known deposits in northern Norway are usually small and high-grade.

A century ago and even a half-century ago, the interest in cobalt within Norway remained virtually non-existent.