Grey River Tungsten Update

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NEWS RELEASE

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24 May 2024

Grey River Tungsten Update

Playfair owns 100% of the high-grade tungsten deposit at Grey River, NL, Canada. The deposit is a

steeply dipping quartz vein containing wolframite (iron manganese tungstate)

Previously Playfair has carried out drilling, sampling, and metallurgical test work. In 2012 Playfair

completed an updated 43-101 compliant Preliminary Economic Assessment which included an

updated resource estimate. Work was paused because of a decreased tungsten price and the large

amount of dilution resulting from available mining methods.

The Grey River Tungsten Deposit has attracted renewed interest as tungsten price is increasing, new

mining methods are developed, and governments are supporting work on critical minerals. Tungsten

is included on the Canadian Critical Minerals list and that of many other countries including EU, South

Korea, USA, Japan, Australia, India, and UK.

Playfair is currently investigating novel mining methods to economically extract steeply dipping

narrow veins such as Grey River.

For further information visit our website at www.playfairmining.com or contact:

Donald G. Moore D. Neil Briggs

CEO and Director Director

Phone: 604-377-9220 Phone: 604-562-2578

Email: [email protected] Email: [email protected]

Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain "forward-looking" statements and information relating to Playfair

which are based on the beliefs of Playfair management, as well as assumptions made by and information cu rrently available to Playfair management.

Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limita tions, exploration and

development risks, expenditure and financing requirements, title m atters, operating hazards, metal prices, political and economic factors, competitive

factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervis ion, seasonality,

technological change, industry practices, and one -time events. Should any one or more of these risks or uncertainties materialize or change, or should

any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.