Northern Lights Resources - Reduces Outstanding Debt and Provides Corporate Update

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NLR Reduces Outstanding Debt and Provides Corporate

Update

Vancouver, British Columbia . July 11, 2023, Northern Lights Resources Corp.

(“Northern Lights” or the “Company”) (CSE: NLR, OTC: NLRCF) is pleased to announce

that it has made a payment of US$166,341 to Mirabel Capital Ltd (“Investor”) under the

terms of the revised debt agreement announced by the Company on May 5, 2023

(“Revised Agreement”). There is a remaining US$385,100 of debt payable to the Investor

under the Revised Agreement.

Under the Revised Agreement, the Company will repay the outstanding debt to the

Investor with Reyna Silver Corp common shares held by the C ompany. Please refer to

the Company’s SEDAR filings for full details of the amended financing agreement.

The Company also announces the resignation of Non -Executive Director , Mr Richard

Kelertas, from the Board of Northern Lights. The Company wishes to tha nk Richard for

his dedicated service to Northern Lights since 2017. Mr Graham Keevil, existing non-

executive Director will replace Richard as Chair of the Audit Committee.

For further information, please contact:

Albert Timcke, Executive Chairman and President

Email: [email protected]

Tel: +1 604 608 6163

Jason Bahnsen, Chief Executive Officer

Email: [email protected]

Tel: +1 604 608 6163

About Northern Lights Resources Corp.

Northern Lights Resources Corp is a growth-oriented exploration and development

company that is advancing two projects: The 100% owned, Secret Pass Gold Project

located in Arizona. Northern Lights also has exposure to the Medicine Springs Project in

Nevada via an equity position in Reyna Silver Corp plus a 1% future NSR royalty on the

Medicine Springs Project.

Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other

Northern Lights Resources news releases can be viewed at www.sedar.com and

www.northernlightsresources.com.

CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION : This news release

includes certain “forward -looking statements” under applicable Canadia n securities legislation. Forward -

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looking statements include, but are not limited to, statements with respect to: the terms and conditions of

the proposed private placement; use of funds; the business and operations of the Company after the

proposed closing of the Offering. There is no assurance any further advances of funds from the Investor

will be forthcoming. Forward-looking statements are necessarily based upon a number of estimates and

assumptions that, while considered reasonable, are subject to k nown and unknown risks, uncertainties,

and other factors which may cause the actual results and future events to differ materially from those

expressed or implied by such forward -looking statements. Such factors include, but are not limited to:

general business, economic, competitive, political and social uncertainties; delay or failure to receive board,

shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry.

There can be no assurance that such statements wi ll prove to be accurate, as actual results and future

events could differ materially from those anticipated in such statements. Accordingly, readers should not

place undue reliance on forward looking statements. The Company disclaims any intention or obligation to

update or revise any forward -looking statements, whether as a result of new information, future events or

otherwise, except as required by law.