Aurum Lake Mining Corporation Announces Adoption of Omnibus Incentive Plan

AURUM LAKE MINING CORPORATION ANNOUNCES ADOPTION OF OMNIBUS INCENTIVE PLAN

Toronto, Ontario, October 7, 2024 – Aurum Lake Mining Corporation (TSVX: ARL) (“ Aurum” or the “Company ”) is

pleased to announce that its proposed adoption of a new omnibus equity incentive compensation plan (the

“Omnibus Plan”) was approved by the Company’s shareholders at its annual and special meeting of shareholders

held on October 7, 2024 (the “ Meeting”). The Omnibus Plan replaced the Company’s existing stock option plan and

includes a 10% “rolling” option plan permitting a maximum of 10% of the issued and outstanding common shares of

the Company as at the date of any option grant to be reserved for option grants and a fixed plan permitting 2,238,250

common shares of the Company to be reserved for grant of restricted share units and performance share units.

Please refer to the Company’s management information circular dated September 4, 2024 which is available under

the Company’s profile at www.sedar.com for a copy and a summary of the Omnibus Plan.

About Aurum

The Company is classified as a Tier 2 mining issuer pursuant to the policies of the TSXV. The Company’s current

principal business is the development and exploration of the Homathko Property, located in the Cariboo Region of

British Columbia, approximately 57km south of the community of Tatla Lake which lies 222km west of Williams Lake.

The Homathko Property comprises of 35 contiguous mineral claims, encompassing a total of 30,971 hectares. The

Company expects that it will continue to evaluate and acquire additional resource projects in other jurisdictions with

low to moderate local political risk.

For more information, please contact:

Patrick Sapphire

Chief Executive Officer

Telephone: 647-530-1117

Neither the TSXV nor its Regulation Service Provider (as defined in the policies of the TSXV) accepts responsibility

for the adequacy or accuracy of this press release.