Northcliff Settles Loan

NORTHCLIFF SETTLES LOAN

VANCOUVER, BC

,

Oct. 24, 2023

/CNW/ - Northcliff Resources Ltd. ("Northcliff" or the "Company")

(TSX: NCF) announces, further to its

June 23, 2022

news release, that it has settled the first and

second tranches of the

$5,200,000

Loan 2 in the amount of

$4,000,000

plus accrued interest (the

"Loan") by issuing 225,789,474 shares to

Todd Sisson

(NZ) Limited ("Todd"). The Loan was

approved by disinterested shareholders at the Company's extraordinary general meeting held on

August 25, 2022

. The drawdown dates for the first and second tranches of Loan were

September

28, 2022

and

October 19, 2022

respectively.

Todd is a subsidiary of the Todd Corporation, the Company's largest shareholder. Todd now holds

369,584,460 shares or a 76.63% interest in Northcliff.

About Northcliff Resources Ltd.

Northcliff is a mineral resource company focused on advancing the Sisson Tungsten-Molybdenum

Project located in

New Brunswick, Canada

, to production. Additional information on Northcliff is

available on the website at

www.northcliffresources.com

.

On behalf of the Board of Directors

Andrew Ing

President & CEO

SOURCE

Northcliff Resources Ltd.

View original content:

http://www.newswire.ca/en/releases/archive/October2023/24/c2492.html

%SEDAR: 00030606E

For further information:

Investor services can be reached at (604) 684-6365 or within North

America at 1-800-667-2114.

CO: Northcliff Resources Ltd.

CNW 17:15e 24-OCT-23