North Peak’s Upcoming Drill Program to Target Gold on Prospect Mountain North; Drilling Plans Close to Being Finalized and Weather Improving Eureka, Nevada

North Peak’s Upcoming Drill Program to Target Gold

on Prospect Mountain North; Drilling Plans Close to

Being Finalized and Weather Improving

Eureka, Nevada April 9, 2024

North Peak Resources Ltd. (TSX Venture: NPR) (the “Company” or “North Peak”) is finalizing plans for

its upcoming drilling campaign on its Prospect Mountain Property in Eureka, Nevada (the “Property” or

“Prospect Mountain”) which is expected to consist of up to 15,000 feet of R/C drilling with 20-30 holes

targeting the gold zones on patented claims in the Wabash and Delaware/Madrid areas located in the

northern portion of the Property (“Prospect Mountain North”) (see Figure 1 below). Drilling at Prospect

Mountain North will be at select areas around the former high-grade Williams, Wabash and Chicago gold

mines, and the Wabash area which had 91 holes for 27,615 feet of vertical RC drilling completed in

1998/1999 when the gold price was much lower (see Figure 2 below). The campaign is also expected to

include follow-up on a drill hole drilled by Homestake Mining that returned very promising gold assays; it is

a lone hole located in the eastern portion of the Property with no other historic drilling activity nearby (see

Figure 3 below).

“The deep hole drilled in late 2023 (PM23-01) confirmed the camp’s geologic structures and faults and

now we can focus on drilling the gold zones in the northern and eastern parts of the Property, which

was always our goal,” said Brian Hinchcliffe, North Peak’s CEO. “Prospect Mountain itself was mined

for gold from 4 shafts from the 9,600-foot elevation down to the 6,500 level off and on from 1870 until

1980 from both the east and west sides of the mountain and has not been explored since gold was

$275 an ounce.”

Some of the better RC intersections from historical drilling that will be followed up include:

North (Wabash) Area:

 0.24 oz/t over 80 ft including 1.6 oz/t over 5 ft plus 1.1 oz/t over 5 ft (8.2 g/t Au over 24.4 m +

22.6 g/t Ag), starting at 145 ft;

 0.12 oz/t over 50 ft including 0.49 oz/t over 5 ft plus 0.37 oz/t over 5 ft (4.1 g/t Au over 15.2m

+ 59.9 g/t Ag) starting at 0 ft;

 0.13 oz/t over 70 ft including 1.0 oz/t over 5 ft plus 0.28 oz/t over 5 ft (4.5 g/t Au over 21.3m +

35.0 g/t Ag) starting at 0 ft;

 0.09 oz/t over 40 ft (3.0 g/t Au over 12.2 m + 38.7 g/t Ag) starting at 0 ft;

 0.08 oz/t over 45 ft including 0.26 oz/t over 5 ft (2.9 g/t Au over 13.7 m + 42.3 g/t Ag) starting

at 0 ft;

 0.12 oz/t over 55 ft including 0.86 oz/t over 5 ft plus 0.30 oz/t over 5 ft (4.1 g/t Au over 16.8 m

+ 25.3 g/t Ag) starting at 305 ft; and

 0.16 oz/t over 45 ft including 1.25 oz/t over 5 ft (5.6 g/t Au over 13.7 m + 60.8 g/t Ag) starting

at 20 ft.

East (Homestake Hole 1725) Area:

 0.15 oz/t over 25 ft including 0.29 oz/t over 5 ft plus another 0.29 oz/t over 5 ft (5.0 g/t Au over

7.6 m + 21.6 g/t Ag) starting at 570 ft;

 0.05 oz/t over 55 ft including 0.13 oz/t over 5 ft plus 0.12 oz/t over 5 ft (1.6 g/t Au over 16.8 m

+ 75.7 g/t Ag) starting at 1175 ft; and

 0.05 oz/t over 10 ft (1.6 g/t Au over 3.1 m + 140.0 g/t Ag) starting at 1310 ft.

TSX Venture: NPR

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NOTES: ounce per ton= oz/t ; grams per tonne=g/t; metres=m; using a 0.5 g/t Au minimum composite grade, and up to

25 feet internal dilution @ 0.01 g/t Au (1725 intersections are just anomalous zones identified for exploration); true

thickness is unknown until orientations are proven; these drill hole results are pre-NI 43-101 and they do not meet the

current standards of exploration quality assurance and quality control protocols-twinning of holes will be necessary.

See the Technical Report (defined below) for full details of the historical drill results referenced above.

Prospect Mountain contains both patented and unpatented land claims and hosts some 15-20 former

underground gold mines close to surface as well as around 11 miles of underground tunnels. The surface

topography is such that the drill program’s design will be configured to shorter holes, many of which should

be able to be drilled inside of a shift. Discussions with permitting authorities are progressing and the

Company is targeting receipt of the necessary approvals in Spring 2024, which should coincide with winter

conditions at Prospect Mountain North giving way to warmer weather and more reliable and safe ground

conditions, all of which are critical for the drill program to commence.

Figure 1: Map view showing Prospect Mountain North and eastern part of Property referenced in press release.

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Figure 2: North Area – Section view looking North.

Figure 3: Section view showing historical Homestake Hole (1725). See the Technical Report (defined below) for full

details of the historical drill results referenced in this Figure 3.

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Option for Kenogami Lake Property.

The Company has reached agreement to extend the deadline to January 5, 2026 for incurring the final

$150,000 work commitment under its option to acquire 100% interest in the Kenogami Lake Project,

which is located 15 kilometers southwest of Kirkland Lake, Ontario.

Review by Qualified Person

Mr. Mike Sutton, P.Geo., a Director of the Company, is the Qualified Person, as defined under National

Instrument 43-101 - Standards of Disclosure for Mineral Projects , who reviewed and approved

scientific and technical disclosure in this press release.

The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status

and ownership of the Property or any underlying property agreements.

About Prospect Mountain

The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold

Belt, where three styles of mineralization have been identified, Au only Carlin style mineralization,

Carbonate Replacement mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead,

zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD

mineralization is heavily oxidized to depths of at least 2000 ft (600 m) below the top of the ridge line.

A Plan of Operations is in place which covers part of the Property (totalling 81 acres) and entitles an

operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and

certain infrastructural works. It includes a permit to extract water from a well and to build water

containment facilities.

A more complete description of Prospect Mountain’s geology and mineralization, including at the

Wabash and Delaware/Madrid areas, can be found in the NI 43-101 Technical Report (the “Technical

Report”) on the Prospect Mountain Property, Eureka County, Nevada, USA dated and with an effective

date April 10, 2023, prepared by David Pym (Msc), CGeol. of LTI Advisory Ltd. and Dr Toby Strauss,

CGeol, EurGeol., of Merlyn Consulting Ltd., which has been filed on SEDAR+ at www.sedarplus.ca

under the profile of the Company and on the Company’s website.

About North Peak

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 is focused on acquiring historic sites,

with low cost producing gold and other metals properties, with near term production potential and 8+

year mine life in the northern hemisphere.

The Company has acquired an initial 80% interest in the Prospect Mountain Mine complex in Eureka,

Nevada (see the Company’s May 4 and 23, 2023 press releases).

The Company can give no assurances at this time that its properties and interests will fulfil the

Company’s business development goals described herein. Trading in the securities of the

Company should be considered highly speculative.

For further information, please contact:

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]

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS : This press

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

Forward-looking statements include, but are not limited to, timing for receipt of regulatory approvals

necessary to begin the proposed drilling program at Prospect Mountain, timing of beginning of the drill

program referenced in this press release, estimates of mineralization from drilling and geophysical

surveys, geological information projected from sampling results and the potential quantities and grades

of the target zones, the potential for minerals and/or mineral resources and reserves, and statements

regarding the plans, intentions, beliefs, and current expectations of the Property and 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, 2022 and the

quarter ended September 30, 2023, available at www.sedarplus.ca 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.