Clover Leaf Capital Clover Leaf Capital Updates Qualifying Transaction with North Shore Energy Metals

Clover Leaf Capital

Clover Leaf Capital Updates Qualifying Transaction

with North Shore Energy Metals

Vancouver, Canada – August 18, 2023 – Clover Leaf Capital Corp. (TSX-V: CLVR.P) (“Clover

Leaf” or the “Company”) announces the Company and North Shore Energy Metals Ltd. (“North

Shore Energy”) have agreed to reduce the amount of the equity offering (the “Concurrent Equity

Financing”) of subscription receipts to be completed concurrently with the closing of its previously

announced Qualifying Transaction (the “ Transaction”) from $5,000,000 to $2,200,000 on the

same terms as described in the Company’s press release dated December 23, 2022.

Closing the Concurrent Equity Financing is a condition of completion of the Transaction with North

Shore Energy (announced in the Company’s press releases dated December 23, 2022, March 31,

2023 and June 30, 2023).

North Shore Energy is a private mineral exploration company focused on uranium exploration at

the eastern margin of the Athabasca Basin through its 55,700 hectare Falcon property and its 4,500

hectare West Bear property located 90 kilometers to the northeast.

The Transaction remains subject to conditions, including but not limited to, TSX Venture Exchange

(“TSXV”) acceptance and, if applicable pursuant to TSXV requirements, majority of the minority

shareholder approval. Where applicable, t he Transaction cannot close until 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 prepared 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 TSXV has in no way passed upon the merits

of the proposed transaction and has neither approved nor disapproved the contents of this press

release.

On behalf of the Board of Directors

Tsend Tseren

Chief Executive Officer

Contact Information - For more information, please contact:

Ben Meyer

Corporate Secretary

Tel: 604.536.2711

Email: [email protected]

Clover Leaf Capital

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.

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, and any other statements that are not historical fac ts. 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 ability

of the Company and North Shore Energy to complete the Concurrent Equity Financing and the

Transaction or to 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. The se 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.