(TSXV – “WMK”) announces that Kasten Energy In c. (“Kasten”) has cal led for repayment, by

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WHITEMUD RESOURCES INC.

NEWS RELEASE

December 23, 2022

Calgary, December 23, 2022 – Whitemud Resources Inc. (“Whitemud” or the “Company”)

(TSXV – “WMK”) announces that Kasten Energy In c. (“Kasten”) has cal led for repayment, by

December 30, 2022, of a loan in the amount of $1,139,561. Whitemud is reviewing its legal

obligations with respect to the loan.

About Whitemud Resources Inc.

Whitemud is a Canadian-based corporation holding mineral rights to exploit a large kaolin deposit

in southern Saskatchewan, together with a processing facility located on the property.

Whitemud’s product, Whitemud (MK) is a cemen t-grade metakaolin that enhances the

performance of cement for oil and gas wells and construction applications. The Company uses a

process that minimizes environmental impact.

Midstream Energy Partners, a divi sion of Whitemud Resources Inc. formed in 2015, engages in

the business of commodity marketing and logistics.

For further information, please contact:

Whitemud Resources Inc.

General Inquiries

Suite 900, 332 - 6th Avenue SW

Calgary, Alberta T2P 0B2

Attention: David Koplovich: [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.

Not for distribution to United States Newswire Services or for dissemination in the United

States.