International Prospect Ventures Announces $500,000 Private Placement Financing

International Prospect Ventures Announces

$500,000 Private Placement Financing

Val-d'Or, Québec--(Newsfile Corp. - October 28, 2022) -

International Prospect Ventures Ltd.

(TSXV: IZZ) (the "Company") announces that, further to its news release of September 20, 2022,

it is

proceeding with a non-brokered private placement offering pursuant to which it will issue up to

10,000,000 Units at a per Unit price of $0.05 for gross proceeds of up to $500,000.

Each Unit will

consist of one common share in the capital of the Company and one-half of one non-transferable share

purchase warrant, each whole warrant exercisable for a period of 24 months from the date of issuance of

the securities.

Each whole warrant entitles holder to purchase one common share at a per share price of

$0.075 for the first 12 months from the date of issuance of the securities and $0.10 for the remaining 12

months thereafter.

The offering is subject to acceptance by the TSX Venture Exchange.

Finder's fees in amounts to be

determined may be payable to persons who introduce the Company to subscribers to the offering. The

proceeds raised from this offering will be used by the Company for general corporate purposes and the

advancement of the Company's gold tenements located in Western Australia.

All securities issued will

be subject to a hold period of four months and one day from the date of closing of the offering in

accordance with applicable securities legislation and the policies of the TSX Venture Exchange.

About International Prospect Ventures Ltd.

International Prospect is a natural resource issuer involved in the process of acquiring and exploring

mineral property assets. The Company uses its wholly owned subsidiary Valroc, a New South Wales

company, to carry out business in Australia.

To complement its current property interests in Western Australia and elsewhere in Australia, Valroc

evaluates regularly new opportunities.

The Company holds also several properties in Canada, for which the Company is seeking partners for

the formation of joint ventures or for outright sales transactions. Those properties include the Porcupine

Miracle Prospect within Langmuir Township in north-eastern Ontario and several Uranium properties in

Saskatchewan (West Stewart and Beartooth Island), Ontario (Elliot Lake) and Quebec (Matoush).

For additional information, please contact:

Glenn J. Mullan

President and CEO

2864 chemin Sullivan

Val-d'Or, Québec J9P 0B9

Tel.: 819-824-2808, x 204

Website:

www.iprospectventures.ca

Forward-Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements.

Forward-looking statements are statements that are not historical facts and are generally, but not always,

identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects",

"potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should"

occur. Although the Company believes the expectations expressed in such forward-looking statements

are based on reasonable assumptions, such statements are not guarantees of future performance and

actual results or realities may differ materially from those in forward-looking statements. Forward-looking

statements are based on the beliefs, estimates and opinions of the Company's management on the date

the statements are made. Except as required by law, the Company undertakes no obligation to update

these forward-looking statements in the event that management's beliefs, estimates or opinions, or other

factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

news release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR

DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,

AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO

SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE

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

STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND

MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS

REGISTERED OR EXEMPT THEREFROM.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/142214