Butte Energy Announces Stock Option Grant

BUTTE ENERGY INC.

SUITE 3123 – 595 BURRARD STREET

VANCOUVER, BC V7X 1J1

TEL: 604-609-6110

BUTTE ENERGY ANNOUNCES STOCK OPTION GRANT

May 15, 2023 TSXV – BEN.H

Vancouver, British Columbia – Butte Energy Inc. (TSXV – BEN.H) (the “Company”) announces the

grant of 1,000,000 incentive stock options (the “Options”) to certain directors, officers and consultants at

a price of $0.29 per share, exercisable for a period of 10 years, subject to TSXV approval.

On behalf of BUTTE ENERGY INC.

“Geir Liland”

Chief Executive Officer

For further information please contact:

Tel: 604.609.6110

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.