Archon Minerals Grants Stock Options

Archon Minerals Limited #606 – 889 West Penders Street Vancouver, BC, V6C 3B2 Tel: 604-682-3303

ARCHON MINERALS GRANTS STOCK OPTIONS

August 21, 2023 – Vancouver, British Columbia TSX.V: ACS

Archon Minerals Limited (“Archon” or the “Company”) has an aggregate of 2,400,000 stock options to certain directors, officers, employees and consultants pursuant to the Company's equity incentive plan (the “Plan”). The stock options have an exercise price of $0.31 per share and an expiry date of August 21, 2029. The Plan, which was adopted at the Company’s recent annual and special meeting of shareholders, allows for a maximum of 10,883,352 common shares to be reserved for issuance pursuant to the exercise or settlement of any stock option or other forms of securities-based compensation granted under the Plan.

For more information, please contact:

Stewart Blusson, President and CEO Tel: 604-682-3303

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.