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RMD.V ·

Richmond Minerals Inc. Announces Loan Arrangement

Financings Debt & Credit Facilities

Trading Symbol TSX(V): RMD

Boerse Frankfurt: WKN A1W98A: R52

Bus. (416) 603-2114; Fax (416) 603-8436

Richmond Minerals Inc., 133 Richmond W, Suite 403, Toronto, Ontario M5H 2L3

Richmond Minerals Inc. Announces Loan Arrangement

Toronto, March 2 8, 2023 - Richmond Minerals Inc. (TSXV: RMD) (“Richmond” or the

“Company”) is pleased to announce it has executed a short-term loan arrangement with a lender

whereby Richmond will borrow $100,000. The loan has a term of four months (July 31, 2023), and

Richmond can re-pay the loan any time prior to termination without penalty. The loan carries a flat

interest fee of $10,000. Proceeds of the loan will used for working capital purposes.

For information, please contact:

Franz Kozich,

President

Warren Hawkins, P. Eng.,

Exploration Manager

Tel: 416-603-2114

CAUTIONARY STATEMENT: This news release contains forward -looking information which is not comprised of

historical facts. Forward -looking information involves risks, uncertainties and other factors that could cause actual events,

results, performance, prosp ects and opportunities to differ materially from those expressed or implied by such forward -

looking information. Forward looking information in this news release includes, but is not limited to, Richmond’s objectives,

goals or future plans, including succe ssful completion of the Transaction and Offering. There is no guarantee that the

Transaction and Offering will be completed on the terms announced in this press release or at all. Factors that could cause

actual results to differ materially from such forwa rd-looking information include, but are not limited to, changes in general

economic conditions and conditions in the financial markets; the ability of Richmond to raise funds pursuant to the Offering;

changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and

competitive developments, and those risks set out in Richmond’s public documents filed on SEDAR. Although Richmond

believes that the assumptions and factors used in preparing the forw ard-looking information in this news release are

reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release,

and no assurance can be given that such events will occur in the disclosed time fr ames or at all. Richmond disclaims any

intention or obligation to update or revise any forward -looking information, whether as a result of new information, future

events or otherwise, other than as required by law.

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

V) accepts responsibility for the adequacy or accuracy of this release.