Smithe Resources Corp. Announces Termination of Letter of Intent with Indie Power Storage Corp.

December 7, 2023 TSX-V: SMTH.P

SMITHE RESOURCES CORP. ANNOUNCES TERMINATION OF

LETTER OF INTENT WITH INDIE POWER STORAGE CORP.

VANCOUVER, B.C. – Smithe Resources Corp. (TSX-V: SMTH.P) (“ Smithe”), a capital pool company

listed on the TSX Venture Exchange (the “Exchange”), announces that, by mutual agreement, the parties

have terminated the letter of intent relating to Smithe’s proposed acquisition of Indie Power Storage Corp.

The parties have determined not to proceed with the transaction as a result of current market conditions.

The parties have no further obligations under the letter of intent, except that $25,000 remains owing by

Indie Power Storage Corp. to Smithe in respect of an initial advance made in connection with the

transaction.

About Smithe Resources Corp.

Smithe Resources Corp. is a capital pool company (“ CPC”) within the meaning of the policies of the

Exchange that has not commenced commercial operations and has no assets other than cash. The current

directors and officers of the Company are: Sam Wong (Director), Matthew Roma (Director), Anthony Balic

(Director) and Andrew Lau (CEO, CFO and Corporate Secretary). Except as specifically contemplated in

the Exchange's CPC policy, until the completion of its Qualifying Transaction, the Company will not carry

on business, other than the identification and evaluation of companies, businesses or assets with a view to

complete a Qualifying Transaction.

For further information regarding Smithe and the Proposed Transaction, please contact:

Andrew Lau

CEO, CFO & Corporate Secretary

Phone: +1 604-722-9633

Email: [email protected]

Neither 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

release.