EGR Exploration Grants Options

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Trading Symbol (TSX-V: EGR)

410-325 Howe Street

Vancouver, British Columbia

Canada V6C 1Z7

Tel: (604) 687 3520

Fax: 1-888-889-4874

www.EGRExploration.com

EGR Exploration Grants Options

Vancouver, BC , January 4, 2023 – EGR Exploration Ltd. (TSX-V:EGR) (“EGR” or the

“Company”) announces that the Board of Directors have approved a grant of stock options

under the Company’s stock option plan to its directors, officers and consultants to purchase up

to an aggregate of 2,250,000 treasury shares at $0.075.

The options are exercisable at a price of $0. 075 per share for a period of 5 years vesting

immediately and are subject to the policies of the TSX Venture Exchange and the Company's

stock option plan.

About EGR Exploration Ltd.

EGR Exploration Ltd. is exploring for gold in the Detour-Fenelon Gold Trend approximately

300 kilometers north of Timmins, Ontario. EGR’s 39,217 hectare Detour West gold project is

contiguous to Agnico Eagle’s property which contains the Detour Lake Gold Mine and is

approximately 20 kilometers from the mine, which is also hosted in the Abitibi Greenstone Belt.

For further information contact:

Daniel Rodriguez

CEO & Director

Phone: (604) 353-4080

Email: [email protected]

Forward‐Looking Statement (Safe Harbor Statement): This press release contains forward-

looking statements within the meaning of applicable securities laws. The use of any of the

words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project",

"should", "predict", "potential" and similar expressions are intended to identify forward-looking

statements. In particular, this press release contains forward-looking statements concerning

the Company's exploration plans. Although the Company believes that the expectations and

assumptions on which the forward-looking statements are based are reasonable, undue

reliance should not be placed on the forward-looking statements because the Company cannot

give any assurance that they will prove correct. Since forward-looking statements address

future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual

results could differ materially from those currently anticipated due to a number of assumptions,

factors and risks. These assumptions and risks include, but are not limited to, assumptions and

risks associated with conditions in the equity financing markets, and assumptions and risks

regarding receipt of regulatory and shareholder approvals. Management has provided the

above summary of risks and assumptions related to forward-looking statements in this press

release in order to provide readers with a more comprehensive perspective on the Company's

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future operations. The Company's actual results, performance or achievement could differ

materially from those expressed in, or implied by, these forward-looking statements and,

accordingly, no assurance can be given that any of the events anticipated by the forward-

looking statements will transpire or occur, or if any of them do so, what benefits the Company

will derive from them. These forward-looking statements are made as of the date of this press

release, and, other than as required by applicable securities laws, the Company disclaims any

intent or obligation to update publicly any forward-looking statements, whether as a result of

new information, future events or results or otherwise. 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.