North PEAK Files Annual Financials, Including Refiling of Amended Md&a FOR 2021

NORTH PEAK FILES ANNUAL FINANCIALS,

INCLUDING REFILING OF AMENDED MD&A

FOR 2021

CALGARY, AB

,

May 4, 2022

/CNW/ -

North Peak Resources Ltd.

(TSXV: NPR) (the "

Company

"

or "

North Peak

") announces that it has filed its audited consolidated financial statements (the

"

Financial Statements

") and Management's Discussion and Analysis ("

MD&A

") for the year ended

December 31, 2021

, which can be found under the Company's profile on SEDAR (

www.sedar.com

),

and which sets forth detailed operating and financial results for the Company for 2021.

In addition, the Company today refiled its MD&A for the year ended

December 31, 2021

because an

early and incomplete draft of such MD&A was inadvertently filed with the Financial Statements. The

amended MD&A filed today is the correct and final version of the MD&A that should be referred to

by readers and shareholders.

In 2021, the first full year since the Company completed its "change of business" to a mining issuer,

the following are the highlights:

Completed a non-brokered private placement of 2,299,999 common shares at an issue price of

$0.48

per share, for aggregate gross proceeds of

$1,104,000

.

Commenced a limited exploration drilling program on the Kenogami Lake Project (formerly

referred to as the Leahy Property) located 15 kilometres southwest of

Kirkland Lake Ontario

, a

project of which the Company holds an option agreement to acquire 100% interest in and to.

Entered into an agreement where the Company was granted an option to acquire the 2,733-

acre Black Horse gold and silver property (the "

Black Horse Property

") located approximately

50 miles east of

Ely

within the Black Horse mining district in

White Pine County, Nevada

.

Since the 2021 year-end, the Company has:

Obtained the necessary permissions and permits to carry out its exploration drilling programs on

the Black Horse Property.

Commenced core and reverse circulation drilling programs at the Black Horse Property, which

drilling continues at this time.

Completed a non-brokered private placement for aggregate gross proceeds of

$5.75 million

. In

connection with the private placement, 2,499,996 equity units of the Company ("

Units

") were

issued at a price of

$2.30

per Unit. Each Unit was comprised of one common share of the

Company and one-half of one common share purchase warrant (a "

Warrant

"). Each whole

Warrant entitles the holder to acquire one common share of the Company for a period of 12

months from the date of issuance of the Warrant, at an exercise price of

$3.50

per share.

About North Peak Resources

The Company is a Canadian based gold exploration and development company that is listed on the

TSX Venture Exchange under the symbol "NPR". The Company holds an option to acquire the 2,733-

acre Black Horse gold and silver property located approximately 50 miles east of

Ely

within the

Black Horse mining district in

White Pine County

, Nevada. See the Company's

January 11, 2022

press release for additional information.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:

This news

release includes certain "forward-looking statements" under applicable Canadian securities

legislation. Forward-looking statements include, but are not limited to, the anticipated use of

proceeds of the Private Placement, timing and completion of any drilling and work programs on the

Black Horse Property, estimates of mineralization from drilling, geological information projected

from sampling results and the potential quantities and grades of the target zones, potential for

minerals and/or mineral resources, whether the Black Horse Property will meet the Company's

goals and standards for a mining project and statements regarding the plans, intentions, beliefs,

and current expectations of the Company with respect to the future business activities and

operating performance of the Company that may be described herein. Forward-looking statements

consist of statements that are not purely historical, including any statements regarding beliefs,

plans, expectations or intentions regarding the future. Such information can generally be identified

by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend",

"believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to

place undue reliance on forward-looking statements, as there can be no assurance that the plans,

intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown

risks and uncertainties, both general and specific, that contribute to the possibility that the

predictions, estimates, forecasts, projections and other forward-looking statements will not occur.

These assumptions, risks and uncertainties include, among other things, the state of the economy

in general and capital markets in particular, accuracy of assay results, geological interpretations

from drilling results, timing and amount of capital expenditures; performance of available

laboratory and other related services, future operating costs, and the historical basis for current

estimates of potential quantities and grades of target zones, as well as those risk factors discussed

or referred to in the Company's Management's Discussion and Analysis for the year ended

December 31, 2021

, and the period ended

September 30, 2021

available at

www.sedar.com,

many

of which are beyond the control of the Company. Forward-looking statements contained in this

press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this

press release. Except as required by law, the Company disclaims any intention and assumes no

obligation to update or revise any forward-looking statements, whether as a result of new

information, future events or otherwise. Additionally, the Company undertakes no obligation to

comment on the expectations of, or statements made by, third parties in respect of the matters

discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is

defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy

or accuracy of this release.

SOURCE

North Peak Resources Ltd.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/May2022/04/c1372.html

%SEDAR: 00032415E

For further information:

Brian Hinchcliffe, CEO, Phone: +1-647-424-2305, Email:

[email protected], Website: www.northpeakresources.com; Chelsea Hayes, Director,

Phone: +1-647-424-2305, Email: [email protected]

CO: North Peak Resources Ltd.

CNW 15:36e 04-MAY-22