The Securities Have Not Been and Will Not Be Registered Under the United States

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE

UNITED STATES . THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A

SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE

SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES

SECURITIES ACT OF 1933, AS AMENDED (TH E “U.S. SECURITIES ACT”) OR ANY STATE

SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO

U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE

SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. THIS NEWS

RELEASE DOES NOT CONSTITUTE AN OFFER OR SALE OF SECURITIES IN THE UNITED STATES.

AURUM LAKE MINING CORPORATION

Brookfield Place, Suite 4400

181 Bay Street, Toronto, ON M5J 2T3

PRESS RELEASE

January 11, 2024 TSX-V: ARL

AURUM ANNOUNCES FINAL EXCHANGE BULLETIN AND

COMMENCEMENT OF TRADING

TORONTO, ON – Aurum Lake Mining Corporation (“Aurum” or the “Company”) is pleased to

announce that effective January 10, 2024, it has completed its previously announced qualifying transaction

(the “ Qualifying Transaction ”) with respect to its option to acquire the Homathko property (the

“Homathko Property”) in British Columbia. The TSX Venture Exchange (the “TSXV”) has published its

final exchange bulletin in connection with the Qualifying Transaction (the “ Exchange Bulletin ”). For

additional information regarding the Qualifying Transaction, see the Company’s news release s dated

December 21, 2022, November 8, 2023, December 4, 20 23, December 6, 2023, December 21, 2023 and

the filing statement of the Company dated December 21, 2023 (the “Filing Statement”), a copy of which

is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Trading in the Company’s common shares (“Common Shares”) on the TSXV is expected to resume at

market open on January 12, 2024.

As of the date hereof, the Company has issued and outstanding, a total of: (i) 21,740,000 Common Shares;

(ii) 1,650,000 stock options exercisable to purchase Common Shares; (iii) 247,500 Finder’s Warrants (as

defined herein) exercisable to purchase Common Shares; and (iv) 280,000 agent’s options exercisable to

purchase Common Shares granted to the agent in the Company’s initial public offering.

Certain of the Common Shares are subject to escrow restrictions including: (i) 13,000,000 Common Shares

subject to release under the CPC Escrow Agreement (as such term is defined in the Filing Statement), with

a first release of 25% as of the date of the Exchange Bulletin.

Concurrent Financing

On December 6, 2023, in connection with the Qualifying Transaction, Aurum completed a non-brokered

private placement, raising gross proceeds in the amou nt of $ 2,120,000 (the “ Concurrent Financing ”)

through the issuance of 5,000,000 Common Shares and 240,000 flow-through shares (“FT Shares”) at a

price of $0.40 per Common Share and $0.50 per FT Share. Finder’s warrants to purchase Common Shares

(“Finder’s Warrants”) were granted to eligible arm’s length finders in the Concurrent Financing.

About Aurum Lake Mining Corporation

The Company’s current principal business is the development and exploration of the Homathko Property

is 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 further details with respect to the Homathko Property, please refer to the Company’s National

Instrument 43-101 - Standards of Disclosure for Mineral Products Technical Report filed on SEDAR+ and

available at sedarplus.ca.

For further information please contact:

Patrick Sapphire

Chief Executive Officer

Phone: 647-530-1117

Disclaimer

Investors are cautioned that, except as disclosed in the Filing Statement prepared in connection with the

Qualifying Transaction, any information released or received with respect to the Qualifying Transaction

may not be accurate or complete and should not be relied upon. Trading in the securities of the Company

should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Qualifying Transaction and has neither approved

nor disapproved the contents of this news release.

Neither the Exchange nor its Regulation Service Provider (as defined policies of the Exchange) accepts

responsibility for the adequacy or accuracy of this press release.

This news release shall not constitute an offer to sell or the solicitation of an offe r to buy any securities in

any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the

United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to

a U.S. Person a bsent registration or an applicable exemption from the registration requirements of the

United States Securities Act of 1933, as amended, and applicable state securities laws.

Forward-Looking Statements

This press release may contain certain forward -looking information and statements (“forward -looking

information”) within the meaning of applicable Canadian securities legislation, that are not based on

historical fact, including without limitation statements containing the words “believes”, “anticipates”,

“plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar

expressions. Readers are cautioned to not place undue reliance on forward -looking information. Actual

results and developments may differ materially from those contemplated by these statements. The Company

undertakes no obligation to comment analyses, expectations or statements made by third-parties in respect

of the Company, its securities, or financial or operating results (as applicable). Although the C ompany

believes that the expectations reflected in forward-looking information in this press release are reasonable,

such forward-looking information has been based on expectations, factors and assumptions concerning

future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain

of which are beyond the Company’s control, including the risk factors discussed in the Filing Statement

which are incorporated herein by reference and are available through SEDAR+ at www.sedarplus.ca. The

forward-looking information contained in this press release are expressly qualified by this cautionary

statement and are made as of the date hereof. The Company disclaims any intention and has no obligation

or responsibility, except as required by law, to update or revise any forward-looking information, whether

as a result of new information, future events or otherwise.