Corporate Update

Corporate Update

Vancouver – February 25, 2022 – True North Gems Inc. (TGX: TSX- V) (“True North” “TGX” or the

“Company”) reports that it has been advised by the Exchange that it does not meet Tier 2 CLR and that

if it does not meet these requirements it will be transferred to NEX.

The Exchange identified two items requiring rectification by the Company:

1) Working Capital

2) Business Activity

The Company was able to demonstrate sufficient working capital as at December 31, 2021, based on the

agreement of certain creditors to postpone repayment of their indebtedness until December 31, 2023.

Respecting the annual minimum required business activity of $50,000, the Company has committed to

complete exploration programs over the next six months. The Company is actively preparing for the

upcoming field season; soliciting quotes for airborne geophysical surveys and planning geochemical

and geological field work. The Company and expects to advance the recently acquired Cobalt Hill and

Chuchinka REE projects in British Columbia during the first half of 2022

On behalf of the Board of Directors of True North Gems Inc.

Owen King

CEO & Director

604-618-1835

For further information, contact:

Email: [email protected]

Neither the 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.