Clover Leaf Capital Clover Leaf Capital Extends Outside Date for Completion of Qualifying Transaction and Will Advance Interim Funding to North Shore Energy Metals

Clover Leaf Capital

Clover Leaf Capital Extends Outside Date for Completion of Qualifying

Transaction and Will Advance Interim Funding to North Shore Energy

Metals

Vancouver, Canada – March 31, 2023 – Clover Leaf Capital Corp. (TSX-V: CLVR.P) (“Clover

Leaf” or the “Company”) announces that it has agreed to extend the outside date of completion of

its qualifying transaction (the “Transaction”) with North Shore Energy Metals Ltd. (“North Shore

Energy”), originally announced in the Company’s press release of December 23, 2022, from April

30, 2023 to June 30, 2023.

Additionally, Clover Leaf will enter into a secured credit facility (the “Credit Facility”) with North

Shore Energy, to provide interim funding for North Shore Energy to complete certain property

acquisition payments and meet other working capital needs prior to the completion of the

Transaction. The maximum principal amount of the Credit Facility will be $250,000, but advances

will only be made on an as-needed basis at the discretion of Clover Leaf. The Credit Facility will

be secured, will accrue interest at a rate of 7% per annum, and will be repayable on June 30, 2023

if the Transaction has not closed by that date. The Credit Facility remains subject to the approval

of the TSX Venture Exchange.

The Credit Facility and T ransaction remains subject to conditions, including but not limited to,

TSXV acceptance and, if applicable pursuant to TSXV r equirements, majority of the minority

shareholder approval. Where applicable, t he Transaction cannot close unt il the required

shareholder approval is obtained. There can be no assurance that the T ransaction will be

completed as proposed or at all. Investors are cautioned that, except as disclosed in the

management information circular or filing statement to be pre pared in connection with the

Transaction, any information released or received with respect to the T ransaction may not be

accurate or complete and should not be relied upon. Trading in the securities of a capital pool

company should be considered highly speculative. The TSX Venture Exchange Inc. has in no way

passed upon the merits of the proposed transaction and has neither approved nor disapproved the

contents of this press release.

Contact Information - For more information, please contact:

Ben Meyer

Corporate Secretary

Tel: 604.536.2711

Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provi der (as that term is defined in

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this

release.

Clover Leaf Capital

This news release does not constitute an offer to sell or the solicitation of an offer to buy any

securities in any jurisdiction.

Cautionary Statement Regarding Forward-Looking Information

This news release contains certain forward-looking statements, including statements relating to the

Credit Facility, the Transaction and certain terms and conditions thereof, the ability of the parties

to complete the Transaction, the Resulting Issuer meeting the Initial Listing Requirements as a Tier

2 issuer under the rules and policies of the TSXV; the waiver of TSXV sponsorship requirements or

the finding of a sponsor, shareholder, director and regulatory approvals, the structure and

completion of the Concurrent Equity Offering, and any other statements that are not historical

facts. Wherever possible, words such as “ may”, “will”, “should”, “could”, “expect”, “plan”,

“intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other

variations of these words, or similar words or phrases, have been used to identify these forward -

looking statements. These statements reflect management's current beliefs and are based on

information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors

could cause actual results, performance or achievements to differ materially from the results

discussed or implied in the forward-looking statements. These risks and uncertainties include, but

are not limited to geological risks, risks associated with the financial markets generally, the results

of the due diligence investigations to be conducted in connection with the Transaction, the ability

of the Company to complete the Transaction or obtain requisite TSXV acceptance and, if

applicable, shareholder approvals. As a result, the Company cannot guarantee that the

Transaction will be completed on the terms described herein or at all. These factors should be

considered carefully and readers should not place undue reliance on the forward- looking

statements. Although the forward-looking statements contained in this press release are based upon

what management believes to be reasonable assumptions, the Company cannot assure readers that

actual results will be consistent with these forward -looking statements. These forward- looking

statements are made as of the date of this press release, and the Company assumes no obligation

to update or revise them to reflect new events or circumstances, except as required by law.