Completion of Initial Public Offering and Listing ON the CSE

Not for distribution to United States newswire services or for

dissemination in the United States.

SORRENTO RESOURCES LTD.

9285 – 203B Street

Langley, British Columbia V1M 2L9

NEWS RELEASE

COMPLETION OF INITIAL PUBLIC OFFERING AND LISTING ON THE CSE

VANCOUVER, BRITISH COLUMBIA, February 23, 2023 – SORRENTO RESOU RCES LTD. (the

“Company”) (CSE: “SRS”) is pleased to announce that it has completed its Initial Pub lic Offering (the

“IPO”) of 4,884,300 common shares (the “ Common Shares”) at a price of $0.175 per common share for

gross proceeds of $854,752.50.

Leede Jones Gable Inc. (the “ Agent”) has been paid a cash commission equal to 9.0% of the gross

proceeds from the sale of the Common Shares pursuant to the IPO, together with a cash corporate finance

fee. Additionally, the Company has granted compensation option s to the Agent entitling the Agent to

purchase up to 439,587 common shares at an exercise price of $0 .175 per common share, exercisable on

or before February 23, 2025. The Company currently has 15,050, 966 common shares issued and

outstanding.

The Company’s common shares are listed on the Canadian Securiti es Exchange (“ CSE”) and will begin

trading on the CSE under the symbol “SRS” on February 24, 2023.

About the Company

The Company is engaged in acqui sition, exploration and developm ent of mineral property assets in

Canada. The Company’s objective is to locate and develop econo mic precious and base metal properties

of merit and to conduct its exploration program on the Wing Pon d Property. The Wing Pond Property is

located roughly 40 km east-northeast of Gander, Newfoundland, Canada, in the Central Newfoundland.

For more information, please refer to the Company’s Prospectus dated December 22, 2022, available on

SEDAR (www.sedar.com), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

Brayden R. Sutton

President and Chief Executive Officer

The offered securities have not been and will not be registered under the United States Securities Act of 1933, as

amended (the “ U.S. Securities Act”), or any applicable state securities laws and may not be offered or sold in the

United States or to “U.S. persons”, as such term is de fined in Regulation S under the U.S. Securities Act, absent

such registration or an appl icable exemption from such registration requi rements. This news release shall not

constitute an offer to sell or the solicitation of an offer to buy the offered securities in any jurisdiction.

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED

NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.