Rackla provides update on proposed acquisition of Misisi Gold Project; files amended NI 43-101 technical report

Rackla provides update on proposed acquisition of Misisi Gold Project;

files amended NI 43-101 technical report

Vancouver, British Columbia – February 14, 2022 – Rackla Metals Inc. (“Rackla” or the “Company”) (TSXV-

RAK) reports that it continues to work on satisfying the conditions precedent to its proposed acquisition

of a 73.5-per-cent interest in the Misisi gold project, located in the Democratic Republic of the Congo.

The Company has filed on SEDAR an amended independent technical report prepared in accordance with

National Instrument 43 -101 -- Standards of Disclosure for Mineral Projects, supporting the mineral

resource estimate for the project previously reported in the Company’s news release dated May 5, 2021.

The amended report, which includes a two -stage recommended work program for the Project, replaces

the previous amended technical report for the project filed on October 12, 2021.

The parties to the acquisition agreements have agreed to extend the deadline for completing the

acquisition to March 15 , 2022. The TSX Venture Exchange has conditionally approved the acquisition

transaction. The closing is subject to Rackla completing a financing to raise a minimum of CAD$5-million

and other customary conditions, and to TSXV final approval. The Company is in the process of satisfying

the requirements to obtain such approval. Trading in the Company’s common shares continues to be

halted and is anticipated to remain halted until the completion of the transaction , expected within the

next two weeks.

It is intended, subject to TSXV approval, that on closing, the name of the Company will be changed to

Goldenhawk Resources Ltd., and Darryll Castle will be appointed as President, Chief Executive Officer and

a Director of the Company.

ON BEHALF OF THE BOARD

Simon Ridgway,

CEO and Director

Tel: (604) 801-5432; Fax: (604) 662-8829

Email: [email protected]

Website: www.racklametals.com

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

TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information

Certain statements contained in this news release constitute forward-looking statements within the meaning of

Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-

looking statements and include, without limitation, statements about the Company’s activities and proposed

transactions. Often, but not always, these forward looking statements can be identified by the use of words such as

“estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has

been”, “gain”, “upgraded”, “offset”, “limited”, “contained”, “reflecting”, “containing”, “remaining”, “to be”,

“periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including

negative variations.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the

actual results, performance or achievements of the Company to be materially different from any results, performance

or achievements expressed or implied by forward-looking statements. Such uncertainties and factors include, among

others, whether the Company’s acquisition of an interest in the Misisi Gold Project, and related transactions, will be

completed as planned; changes in general economic conditions and financial markets; the Company or any joint

venture partner not having the financial ability to meet its exploration and development goals; risks associated with

the results of exploration and development activities, estimation of mineral resources and the geology, grade and

continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in

the Company’s quarterly and annual filings with securities regulators and available under the Company’s profile on

SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause

actual actions, events or results to differ materially from those described in forward-looking statements, there may

be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking statements contained herein are based on the assumptions, beliefs, expectations and opinions of

management, including but not limited to: that the Company’s acquisition of an interest in the Misisi Gold Project,

and related transactions, will be completed as planned; that the Company’s stated goals and the planned exploration

and development activities at its properties will be achieved; that there will be no material adverse change affecting

the Company or its properties; and such other assumptions as set out herein. Forward-looking statements are made

as of the date hereof and the Company disclaims any obligation to update any forward-looking statements, whether

as a result of new information, future events or results or otherwise, except as required by law. There can be no

assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ

materially from those anticipated in such statements. Accordingly, investors should not place undue reliance on

forward-looking statements.