CNRI.V · 2022-12-20 12:00:00

Canadian North Resources Inc. Increases its Offering of Flow-Through Shares

Financings

TORONTO, Dec. 20, 2022 -- Canadian North Resources Inc. (the “ Corporation”) (TSX-V: CNRI; FSE: EO0, which is “E-O-

zero”) announces further to its News Release of December 16, 2022, that it has increased its offering of common shares

(“Flow-Through Shares ”) issuable on a flow-through basis pursuant to the Income Tax Act (Canada) at a price of $2.70 per

Flow-through Share (the “Flow-Through Offering ”) from $5,000,000 up to $6,000,000.

About Canadian North Resources Inc.

Canadian North Resources Inc. is an exploration and development company focusing on the metals for clean-energy, electric

vehicles, battery and high-tech industries. The Corporation is advancing its 100% owned Ferguson Lake nickel, copper, cobalt,

palladium, and platinum project in Nunavut, Canada.

Forward-Looking Statements

The information and statements in this news release contain certain forward-looking information. This forward-looking

information relates to future events or the Corporation’s future performance. In particular, this document contains forward-

looking information and statements regarding the use of proceeds of the Flow-Through Offering. All statements other than

statements of historical fact may be forward-looking information. This forward-looking information is subject to certain risks and

uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or

implied in the forward-looking information. These assumptions include that, in respect of the use of proceeds, historical costs

and expenses will be representative of future costs and expenses. The Corporation’s actual results, performance or

achievement could differ materially from those expressed in, or implied by, such forward-looking information, and accordingly,

no assurances can be given that any of the events anticipated by the forward-looking information will transpire or occur or, if

any of them do, what benefits that the Corporation will derive from them. The Corporation’s forward-looking information is

expressly qualified in its entirety by this cautionary statement. Except as required by law, the Corporation undertakes no

obligation to publicly update or revise any forward-looking information.

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.

For further information contact:

Dr. Kaihui Yang, President and CEO

Phone: 905-696-8288 (Canada) 1-888-688-8809 (Toll-Free)