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Kingfisher Reports Final Diamond and RAB Drill Results from Cloud Drifter Trend

Drill Results

Kingfisher Reports Final Diamond and RAB Drill Results from Cloud

Drifter Trend

VANCOUVER, British Columbia, February 22, 2023 – Kingfisher Metals Corp. (TSX -V: KFR) (FSE: 970)

(OTCQB: KGFMF) (“Kingfisher” or the “Company”) announces drill results from the 100% owned 511 km2

Goldrange Project. Goldrange is located approximately 25 km south of the town of Tatla Lake in the

Chilcotin region of Southwest British Columbia.

Highlights

• Diamond drilling at eastern Cloud Drifter Zone i ntercepted anomalous near surface gold

mineralization over 400 m of strike including 1.93 g/t over 25 m from 32 m.

• The Cloud Drifter Zone’s Pad 400 Area continues to return high grade intercepts that infill

previous gaps between diamond drill holes such as 15.17 g/t Au over 1 m and 10.49 g/t Au

over 1 m.

• Several mineralized shear zones were identified at Langara Zone through diamond drilling

including 9.45 g/t Au over 1 m and 7.26 g/t Au over 1 m.

• A new style of polymetallic sulfide breccia was intercepted at Langara returning 7.41 g/t Au,

81.90 g/t Ag, 0.23 % Cu, 2.22 % Pb, and 7.63 % Zn over 0.5 m.

• The RAB drill at Langara Zone located the historical Langara adit in hole GRR22-033 where

the hole graded 1.3 g/t Au over 7.6 m and bottomed in a void.

• Deep penetrating IP survey in Cloud Drifter Zone identified two large intense chargeability

anomalies at depth.

Dustin Perry, CEO of Kingfisher, states “Drilling in 2022 at the Cloud Drifter Trend identified a large

hydrothermal gold system stretching close to 3 km in length. Drilling identified corridors where gold grades

are markedly increased and likely represent the tops of feeder zones to the hydroth ermal system. The IP

survey in the eastern Cloud Drifter Zone shows two large intense chargeability anomalies at depth – one

below the area of drilling and another below the historical Standard adit. These anomalies represent high

priority drill targets.”

The Goldrange Project covers a significant deformation zone with numerous precious metal veins across

the project. Mineralization at Goldrange occurs within the orogenic Yalakom Gold Belt, which is host to the

Bridge River District that includes the past-producing Bralorne Mine. Several areas of historical hand mining

are located within the project that date back to the 1930s.

The 2022 drill program (Figure 1) at the Goldrange Project was designed to follow up on the initial 2021

program as well as test a much broader area across the Cloud Drifter Trend . The 23 diamond drill holes

(Tables 1-4) and six RAB drill holes (Tables 5 and 6) of the 2022 program included within this release are

located at the Langara Zone of the Cloud Drifter Trend soil anomaly.

Figure 1: Diamond and RAB Drill Hole and Section Locations in the Cloud Drifter Trend

Cloud Drifter Zone Drill Results

Pad 400 Target

Ten drill holes (Figure 2) were completed at the Pad 400 target, with the results from six of those drill holes

previously released, and with four included in this release. The four holes included in this release (Table 1

and 2) were completed from a single drill pad and included highlight intercepts from of 15.17 g/t Au over 1

m (Figure 4) and 10.49 g/t Au over 1 m.

Eastern Target

Ten drill holes (Figure 3) were completed at the Eastern Target totalling 1986 m. Drilling was completed

from four drill pads covering 400 m in strike length. Drilling consistently intercepted shallow broad zones

of low-grade gold mineralization with a highlight intercept returning 1.9 g/t Au over 25 m (Figure 5) from 32

m depth. Drill collar information and intercepts are found within Table 1 and 2.

Table 1: Diamond Drill Collars (NAD 83 - Zone 10), Cloud Drifter Zone

Hole Easting (m) Northing (m) Elevation (m) Depth (m) Azimuth Dip

GR22-021 388953 5705970 1450 200.3 130 55

GR22-022 388944 5705922 1478 145.1 322 56

GR22-028 388944 5705922 1478 202.4 323 71

GR22-029 388944 5705922 1478 297.2 22 56

GR22-031 388858 5705887 1492 246.9 50 55

GR22-032 388858 5705887 1492 237.1 320 65

GR22-034 388858 5705887 1492 223.0 320 85

GR22-036 388709 5705912 1464 146.1 311 56

GR22-038 388709 5705912 1464 150 301 76

GR22-039 388709 5705912 1464 137.5 30 55

GR22-040 388529 5705815 1508 223 234 77

GR22-041 388529 5705815 1508 198 333 86

GR22-042 388529 5705815 1508 202.6 238 85

GR22-043 388529 5705815 1508 250.7 232 70

Table 2: Diamond Drill Highlights, Cloud Drifter Zone

Hole From (m) To (m) Interval (m) Au g/t Ag g/t Cu %

GR22-021 no significant intercepts

GR22-022 28.0 67.0 39.0 0.36 - -

incl. 28.0 51.0 23.0 0.45 - -

GR22-028 34.4 39.4 5.0 0.45 - -

GR22-028 44.4 49.4 5.0 0.31 - -

GR22-028 119.4 121.4 2.0 0.41 - -

GR22-029 24.2 34.2 10.0 0.28 - -

GR22-031 27.0 41.0 14.0 0.26 - -

GR22-031 94.0 109.0 15.0 0.21 - -

GR22-031 129.0 130.0 1.0 2.67 - -

GR22-032 32.0 57.0 25.0 1.93 - -

incl. 34.0 43.0 9.0 4.18 - 0.13

incl. 40.0 41.0 1.0 24.57 23.27 0.65

and 54.0 56.0 2.0 3.77 - -

GR22-032 90.0 111.0 21.0 0.31 - -

incl. 99.0 100.0 1.0 3.52 - -

GR22-034 27.0 45.0 18.0 0.33 - -

incl. 37.0 42.0 5.0 0.85 - -

GR22-034 50.0 51.0 1.0 0.58 - -

GR22-034 92.0 94.0 2.0 1.94 - -

GR22-034 98.0 113.0 15.0 0.61 - -

GR22-034 104.0 105.0 1.0 6.99 14.20 0.13

GR22-034 132.0 142.0 10.0 0.24 - -

GR22-034 156.0 157.0 1.0 0.81 - -

GR22-036 41.0 84.0 43.0 0.32 - -

incl. 53.0 60.0 7.0 0.89 - -

GR22-038 46.0 65.0 19.0 0.54 - -

incl. 56.6 65.0 8.4 0.97 - -

GR22-039 41.0 56.0 15.0 0.17 - -

GR22-040 169.0 171.0 2.0 3.63 - -

Incl. 169.0 170.0 1.0 6.42 - -

GR22-041 152.0 157.0 5.0 3.75 - 0.11

incl. 155.0 156.0 1.0 15.17 15.17 0.37

GR22-042 172.0 176.0 4.0 2.68 - -

incl. 172.0 173.0 1.0 10.49 - -

GR22-042 182.0 192.0 10.0 0.71 - 0.12

incl. 187.0 188.0 1.0 4.43 14.61 0.78

GR22-043 129.0 135.0 6.0 0.35 - -

GR22-043 230.0 232.0 2.0 0.85 - -

*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed

Figure 2: Cross section view of Pad 400 Target Area, View North

Figure 3: Cross section view of Eastern Target Area, View North

Figure 4: Photograph of Drillhole GR22-041, Pad 400 Target Area (15.2 g/t Au over 1 m from 155.0 m)

Figure 5: Photograph of Drillhole GR22-032, Eastern Target Area (24.6 g/t Au over 1 m from 40.0 m)

Langara Zone Diamond Drill Results

Diamond drilling at the Langara Zone was completed from one pad location near the top of the ridgeline.

Four holes were completed over 1594 m. Drill hole GR22 -030 was aimed towards the location of the

historical adit and failed to hit similar mineralization with a highlight of 3.96 g/t Au, 60.22 g/t Ag and 0.63%

Cu over 1 m.

GR22-033, -035, and -037 were completed to test for down dip extensions of a vein outcrop at surface on

the eastern slopes of the Langara Zone. Sulfide breccia (Figure 8), narrow veins, as well as a 12 m wide

deformation zone (Figure 9) were intersected. Collar information and highlight intercepts are found within

Table 3 and 4 below. Highlight intercepts are displayed on Figure 6 and 7.

Table 3: Diamond Drill Collars (NAD 83 - Zone 10), Langara Zone

Hole Easting (m) Northing (m) Elevation (m) Depth (m) Azimuth Dip

GR22-030 390266 5705334 1891 505.0 307 58

GR22-033 390266 5705334 1891 362.0 25 45

GR22-035 390266 5705334 1891 353.0 25 53

GR22-037 390266 5705334 1891 374.0 25 62

Table 4: Diamond Drill Highlights, Langara Zone

Hole From (m) To (m) Interval (m) Au g/t Ag g/t Cu % Pb % Zn %

GR22-030 207.0 208.0 1.0 3.96 60.22 0.63 - -

GR22-033 157.0 158.0 1.0 3.74 17.99 0.10 0.18 -

GR22-033 202.0 205.0 3.0 3.28 - - - -

incl. 204.0 205.0 1.0 9.45 25.17 0.10 - -

GR22-033 321.3 321.8 0.5 7.41 81.90 0.23 2.22 7.63

GR22-035 154.0 156.1 2.1 1.22 - - - -

GR22-035 195.0 197.0 2.0 3.71 - - - -

Incl. 196.0 197.0 1.0 7.26 - - - -

GR22-035 322.0 330.0 8.0 0.93 - - - 0.12

Incl. 322.0 326.0 4.0 1.80 11.94 - 0.11 0.24

GR22-037 360.9 363.0 2.0 0.59 - - - 0.26

*True widths are not known at this time. All widths reported are drilled widths. Values <10 g/t Ag, <0.1% Cu, Pb and Zn not displayed

Figure 6: Section from Langara Zone