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Deer Horn Partner Cheona Metals Stakes Mineral Claims with Consent of Indigenous Nation in Northern BC

Mergers & Acquisitions Property Options & Staking

Deer Horn Partner Cheona Metals Stakes Mineral Claims with Consent

of Indigenous Nation in Northern British Columbia

Vancouver, BC, Canada, February 17, 2021 – Deer Horn Capital Inc. (CSE: DHC) (the “Company” or “Deer

Horn Capital”), announces that its 51% Indigenous partner Cheona Metals Inc. (“Cheona”) has staked two

mineral claims on the ancestral lands of the Dease River First Nation, a Kaska Nation community at Good

Hope Lake in northern British Columbia. The claims total 2,403 hectares.

“In conformance with the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP), the

claim staking process was performed in two steps,” said Allen Edzerza, Cheona’s founder and Indigenous

majority shareholder and an elder of the Tahltan Nation. “The first step was to obtain consent of the

Dease River First Nation to access their ancestral lands to carry out a prospecting program. After

prospecting, the second step was to again obtain consent of the Dease River First Nation to stake two

mineral claims named Dena Ah’tse and Yeda.” Dena Ah’tse in the Kaska language means “Old Peoples

Mountain” and Yeda means “Morning Star.”

“I am pleased that Cheona has carried out its prospecting and exploration in manner that is true to

UNDRIP” said Allen Edzerza. “Too many companies have come into Indigenous territories with no notice

and no communication. Cheona is doing exploration and mineral staking the way it should be done on

Kaska ancestral lands. We see exploration companies pushing the boundaries of the “Golden Triangle”

further to the east and to the south. When they come to Kaska Nation territory, they must obtain consent

exactly in the manner that Cheona has done.”

The prospecting program and claim staking was led by Dr. Lee Groat, professor of geological sciences and

mineralogist at the University of British Columbia in Vancouver, Canada. The University of British Columbia

is Canada’s premier mineral exploration and mining post-secondary institution and a national leader in

recruitment of Indigenous students in the sciences and engineering.

The prospecting program was the first of its kind combining Indigenous knowledge and Western science in

a 21 st century mineral prospecting and exploration program. Mr. Edzerza and Mr. Peter Stone, an elder of

the Kaska Nation, identified the lands for staking for Cheona by providing Indigenous knowledge and

perspectives. Between the two elders, Mr. Edzerza and Mr. Stone have more than 120 years of experience

traversing the region of the two mineral claims. This unique combination of Indigenous knowledge and

Western science perspectives formed the foundation of Cheona’s prospecting and staking strategy.

Cheona is reviewing information, including assays from soil and rock samples collected in 2020 from the

claims, as it prepares plans for the 2021 field season. Cheona will seek the consent of the Dease River First

Nation prior to applying for a BC Mines Act permit to carry out mechanized activity. COVID-19 is an

enormous concern for Indigenous communities. Until northern communities are fully vaccinated, Cheona

will limit its exploration work in 2021 to non-mechanized activities, or if requested by the Dease River First

Nation due to health concerns, to none at all.

“Cheona Metals is a modern example of how mineral exploration on First Nations ancestral lands should,

and must, be done in British Columbia and Canada” said Deer Horn Capital President and CEO Tyrone

Docherty. “Responsible, sustainable mineral exploration can only be described as such when consent—

and I mean free, prior and informed consent—is obtained from Indigenous peoples who have Aboriginal

or Inherent rights and title. This is exactly why Deer Horn is a member of the Initiative for Mining

Assurance, or IRMA.” (See: https://responsiblemining.net ).

“IRMA is the world’s leading mineral exploration and mining standard” said Deer Horn Capital board

chairperson, Tony Fogarassy. “The IRMA standard represents the highest protections for Indigenous

peoples, bar none. IRMA members include forward thinking purchasers and end-users of base, precious

and so-called “critical” metals. They include Microsoft, BMW, Mercedes-Benz, the Sustainable Purchasing

Leadership Council and also mining giants such as Anglo American and AccelorMittal. These global

organizations lead by example in their sectors. And I am pleased to say so do Deer Horn Capital and

Cheona Metals in the pursuit of truly responsible and truly sustainable mineral exploration.”

Cheona Metals is also currently working with RESOLVE, Inc. to restore salmon habitat impacted by mining

in British Columbia and Yukon Territory under the Salmon Gold TM label. RESOLVE’s partners include Apple

and Tiffany & Co. You can learn more about the Salmon Gold initiative here , and also in RESOLVE’s News

Release from August, 2019.

About Deer Horn Capital

Deer Horn Capital’s unique business model is based on leveraging diverse partnerships to generate

revenue and value. Working with Indigenous peoples, NGOs, governments and industry, Deer Horn Capital

explores for metals in British Columbia and helps indigenous communities grow and thrive through various

industrial, social and environmental ventures.

Deer Horn Capital proudly adheres to and supports the principles and rights set out in the United Nations

Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free,

prior and informed consent. Deer Horn Capital has been a vocal advocate of the BC Declaration on the

Rights of Indigenous Peoples Act since its introduction and passage in the British Columbia legislature in

November 2019. Deer Horn Capital also supports federal Bill C-15, the United Nations Declaration on the

Rights of Indigenous Peoples Act .

On behalf of the board of directors of

Deer Horn Capital Inc.

“Tyrone Docherty”

Tyrone Docherty

President and CEO

For further information please contact:

Tyrone Docherty

604.789.5653

[email protected]

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this

release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or m ay occur in the

future are forward-looking statements. These forwa rd-looking statements involve numerous assumptions made by the Company based on its experience, percep tion of

historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve

substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements

will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place un due reliance on forward-looking statements. Except as required

by law, the Company does not intend to revise or up date these forward-looking statements after the dat e hereof or revise them to reflect the occurrence o f future

unanticipated event.