Orestone Closes Financing

TSXV : ORS - OTC : ORESF - Frankfurt : WKN: O2R2

News Release

TSX-V: ORS

2024-02

May 15, 2024

For further information contact: David Hottman at 6 04-629-1929   [email protected]

407 – 325 Howe Street, Vancouver, BC V6C 1Z7, Canad a   Phone: 604-629-1929   Fax: 604-629-1930   www.orestone.ca

ORESTONE CLOSES FINANCING

Orestone Mining Corp. (TSXV: ORS) (OTC: ORESF) (Frankfurt: O2R2) (“the Company”) is pleased to

announce the completion of its non-brokered private placement announced April 11, 2024 whereby the Com pany

issued a total of 5,000,000 common shares (“Shares” ) at a price of $0.03 per Share for gross proceeds of $150,000

(the “ Offering ”).

The proceeds of the Offering will be used for payme nt of certain expenses, consisting of $45,000 payab le to DeVisser

Gray LLP for audit and tax related services; $25,00 0 payable to Pacific Opportunity Capital, a non-arm ’s length party,

for office rent and accounting services, with the b alance of the proceeds to be used for general worki ng capital

purposes.

The Shares issued under the Offering are subject to a hold period that expires on September 16, 2024. Finders’ fees

amounting to $5,130 were paid in connection with th e Offering. The private placement is subject to fin al approval of

the TSX Venture Exchange.

Certain directors, officers and other insiders of the Company purchased or acquired direction and control over a total of

1,450,000 Shares under the private placement. The placement to those persons constitutes a “related p arty transaction”

within the meaning of TSX Venture Exchange Policy 5 .9 and Multilateral Instrument 61-101 - Protection of Minority

Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on

exemptions from the formal valuation and minority s hareholder approval requirements of MI 61-101 conta ined in

sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respe ct of related party participation in the placement as neither the fair

market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of th e consideration

for, the transaction, insofar as it involved the re lated parties, exceeded 25% of the Company's market capitalization (as

determined under MI 61-101).

The securities referred to in this news release hav e not been, and will not be, registered under the U nited States

Securities Act of 1933, as amended (the "U.S. Secur ities Act"), or any applicable securities laws of a ny state of the

United States, and may not be offered or sold withi n the United States or to, or for the account or be nefit of,

U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States

unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an

exemption from such registration requirements is av ailable. This press release does not constitute an offer to sell or a

solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

Orestone Mining Corp. is a professionally managed m ineral exploration company headquartered in Vancouv er, BC.

The Company’s primary asset is the 100 percent owne d Captain gold-copper project which hosts a large gold dominate

porphyry target. The property encompasses 105 square kilometres located 41 kilometres north of Fort St. James and 30

kilometres south of the Mt. Milligan copper-gold mi ne in North Central British Columbia. The Captain P roject can be

explored year round. To stay informed of Orestone’s latest activities please click here to provide consent and receive

news and updates. For more information, please visit Orestone’s website at: www.orestone.ca .

ON BEHALF OF ORESTONE MINING CORP.

David Hottman

CEO

TSXV : ORS - OTC : ORESF - Frankfurt : WKN: O2R2

News Release

TSX-V: ORS

2024-02

May 15, 2024

For further information contact: David Hottman at 6 04-629-1929   [email protected]

407 – 325 Howe Street, Vancouver, BC V6C 1Z7, Canad a   Phone: 604-629-1929   Fax: 604-629-1930   www.orestone.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange)

accepts responsibility for the adequacy or accuracy of this News Release. This news release has been prepared by management and

no regulatory authority has approved or disapproved the information contained herein.