North Peak Reports at Least 8 Zones up to 9.5% Zinc and 4.6% Lead on Its
First Exploration Hole in Eureka, Nevada, Along with a New Gold Zone of 0.6 g/t
Au over 3.1 Meters

EQS-News: North Peak Resources Ltd. / Key word(s): Miscellaneous
North Peak Reports at Least 8 Zones up to 9.5% Zinc and 4.6% Lead on Its
First Exploration Hole in Eureka, Nevada, Along with a New Gold Zone of 0.6
g/t Au over 3.1 Meters

23.02.2024 / 17:06 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Calgary, Alberta--(Newsfile Corp. - February 12, 2024) - North Peak
Resources Ltd. (TSXV: NPR) (the "Company" or "North Peak") reports that its
3,253-foot first exploration core hole (PM23-001) successfully drilled the
conductive Mobile MT geophysical anomaly identified from summer 2023 surveys
on its Prospect Mountain Property in Eureka, Nevada (the "Property" or
"Prospect
Mountain") (see the Company's October 27, 2023 press release).

This first exploration hole was drilled to the west from the easily
accessible Diamond Mine portal and intersected at least 8 mineralized zones
of the Carbonate Replacement (CRD) style that were within altered Hamburg
dolomite, the host rock of the Diamond Mine workings above (see Figures 1
and 2). Significant intersections include 9.5% Zn, 221.6 g/t Ag, 0.8% Cu,
and 0.3% Pb over 1.0 m (3.28 ft), 7.3% Zn, 54.6 g/t Ag, and 0.8% Pb over 1.9
m (6.23 ft), and 355 g/t Ag and 4.6% Pb over 0.3 m (1 ft) (see Table 1
below). An intersection of 0.6 g/t Au over 3.1 m was located along the
Jackson Fault that was historically thought to be devoid of gold, indicating
potential Carlin style gold leakage along the fault.

"This initial drill hole was positioned to enable us to target the MT
anomaly identified from an operationally efficient location in winter,"
commented Mike Sutton, Director and Senior Geologist. "The hole intersected
some of the faults that run across the Property, and this will help us test
theories of the fault systems that exist in the Eureka camp and drive the
multiple types of mineralization that exist in the camp, in particular how
to best drill the other large targets further north on the Property."

PM23-001 was successful in intersecting several zones of pyrite, sphalerite,
galena +- chalcopyrite mineralization in the projected area of the MT
geophysical anomaly. Given the accompanying zinc rich and low gold nature of
the massive sulphide mineralization intersected, it is thought that this
hole intersected "halo" style mineralization peripheral to larger, more
conductive bodies that should have higher galena and gold further north in
the system. These low lead-zinc ratios are indicative of distal halo
mineralization; in surface soil sampling, higher lead-zinc ratios are
intimately associated with historical workings and increase markedly to the
north (see Figure 1).

A BHEM survey is being undertaken to evaluate the optimal orientation for
potential wedging of this hole, as it should help to identify the location
of the best conductors (sulphides) relative to the position of the original
hole.

North Peak previously released assay results from one historical hole (WS02)
drilled in 2017 from surface at Prospect Mountain, which intersected 8.0% Zn
over 7.0 m located 90 m (295 ft) above the underground workings (stopes) at
Shaft #2, and 12.9 g/t Au, 195 g/t Ag, 0.8% Pb and 0.5% Zn over 2.5 m at 280
m (919 ft) southwest of the underground workings (see the Company's July 5,
2023, press release). WS01, drilled vertically to 294.8 m (967 ft) at the
same collar as WS02, intercepted 3.3% Zn over 4.8 m (15.8 ft) from
112.5-117.3 m (369-384.8 ft), including 12.1% Zn over 0.4 m (1.3 ft) from
115.2-115.6 m (377.9-379.2 ft) (see Table 1 below). These results from WS01
and WS02 are consistent with the localized gold and polymetallic intercepts
found in PM23-001.

Towards the end of PM23-001 (west of the underground workings),
marbelization of the dolomite is present and granitic dyke was intersected.
This could indicate a heat source for the fluids.

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Figure 1: Map view showing PM23-001, combined with historical underground
workings and soil sampling data.

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Figure 2: Long section looking west showing PM23-001, the historical
underground workings and MT anomalies after 3D inversion.

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Prospect Mountain Drill Hole Results

Table 1. Assay Results

  Ho-  From   To     Inte-  Fro-  To      Int-  Au    Ag   Zn    Cu     Pb
  le                 rcep-  m             erc-  (g/-  (g-  (%)   (%)    (%)
  ID                 t                    ept   t)    /t-
                                                      )
  (m-  (m)    (m)    (ft)   (ft-  (ft)
  )                         )
  PM-  112.-  115.-  3.05   369-  379.3   10.-  0.6-
  23-  6      6             .4            0     3
  -0-
  01
  in-  115.-  115.-  0.2    378-  379.3   0.7   0.4   36-  0.2          0.2
  cl-  4      6             .6                        .6
  ud-
  in-
  g
       388.-  389    0.3    127-  1276.2  1.0         35-               4.6
       7                    5.3                       5.-
                                                      0
       407.-  408.-  1.5    133-  1340.2  4.9         11-               0.2
       0      5             5.3                       .7
       428.-  430.-  2.0    140-  1413.7  6.6         14-
       9      9             7.2                       .4
       463.-  464.-  1.1    152-  1524.0  3.6         16-
       4      5             0.3                       .1
       489.-  489.-  0.3    160-  1606.3  1.0         13-
       3      6             5.3                       .9
       527.-  528.-  1.0    172-  1732.9  3.3         10-  0.2
       2      2             9.7                       .5
       544.-  545.-  0.3    178-  1788.4  1.0         16-  0.2          0.3
       8      1             7.4                       .2
       627.-  628.-  0.4    205-  2060.7  1.3              1.0          0.5
       6      1             9.1
       632.-  632.-  0.4    207-  2075.5  1.3         5.-  0.2          0.2
       1      6             3.8                       5
       636.-  636.-  0.7    208-  2089.6  2.3         33-  2.3          0.1
       2      9             7.3                       .6
       676.-  677.-  1.5    221-  2223.4  4.9         15-               0.2
       2      7             8.5                       .4
       715.-  716.-  0.9    234-  2351.7  3.0         26-  1.3
       9      8             8.8                       .5
       718.-  718.-  0.5    235-  2358.6  1.6         19-
       4      9             7.0                       .7
       726.-  727.-  0.3    238-  2385.5  1.0         9.-  0.5
       8      1             4.5                       4
       738.-  740.-  1.9    242-  2428.5  6.2         54-  7.3   0.1    0.8
       3      2             2.2                       .6
       753.-  753.-  0.5    247-  2472.8  1.6         7.-  0.4
       2      7             1.1                       1
       759.-  760.-  0.8    249-  2494.1  2.6         4.-  0.5
       4      2             1.5                       2
       768.-  770.-  2.1    251-  2526.6  6.9         10-  0.5
       0      1             9.7                       .0
       794.-  795.-  1.6    260-  2609.9  5.2         15-  0.6
       0      5             5.0                       .4
       796.-  796.-  0.2    261-  2612.9  0.7         19-               4.2
       2      4             2.2                       3.-
                                                      0
       890.-  891.-  0.4    292-  2923.2  1.3         24-  0.7
       6      0             1.9                       .8
       891.-  892.-  0.3    292-  2926.8  1.0         8.-  0.4
       8      1             5.9                       5
       896.-  897.-  1.0    294-  2943.6  3.3         22-
       2      2             0.3                       .3
       899.-  900.-  0.9    295-  2953.4  3.0         14-  5.1   0.3    0.3
       3      2             0.5                       7
       900.-  901    0.8    295-  2956.0  2.6         16-  0.6
       2                    3.4                       .5
       923.-  924.-  1.0    302-  3032.5  3.3         22-  9.5   0.8    0.3
       35     3             9.4                       1.-
                                                      6
       946.-  948.-  1.7    310-  3110.9  5.6   0.7   10-  0.2
       5      2             5.3                       .2
       948.-  949.-  0.9    311-  3113.8  3.0   0.1
       2      1             0.9
       949.-  950.-  0.3    311-  3117.1  1.0   0.4   5.-
       8      1             6.1                       5
       957.-  958.-  0.3    314-  3143.7  1.0         11-  0.3
       9      2             2.7                       .7
       967.-  967.-  0.3    317-  3175.2  1.0         8.-  0.4
       5      8             4.2                       4
       970.-  971.-  0.6    318-  3187.0  2.0         23-               0.2
       8      4             5.0                       .5

  WS-  26.7   27.0   0.3    87.-  88.6    1.1         46-        0.057  0.05-
  01                        5                         .8                8
       43.3   43.6   0.3    142-  143.1   1.1              0.5
                            .0
       46.8   47.2   0.4    153-  154.9   1.2   0.6   11-  1.2   0.038
                            .7                        .9
       63.2   63.6   0.4    207-  208.8   1.3              0.51  0.030  0.05-
                            .5                                          6
       87.3   87.9   0.6    286-  288.5   2.0              0.61
                            .5
       96.9   99.2   2.3    318-  325.6   7.6                           0.05-
                            .0                                          9
  in-  96.9   97.6   0.7    318-  320.2   2.2              0.57
  cl-                       .0
  ud-
  in-
  g
  in-  97.6   99.7   2.1    320-  327.0   6.8         15-
  cl-                       .2                        .5
  ud-
  in-
  g
       110.-  127.-  17.0   363-  418.8   55.-             1.1
       7      7             .1            8
  in-  112.-  117.-  4.8    369-  384.8   15.-        7.-  3.3
  cl-  5      3             .1            7           4
  ud-
  in-
  g
  in-  112.-  114.-  1.8    369-  375.0   5.9         12-  4.2
  cl-  5      3             .1                        .7
  ud-
  in-
  g
  in-  115.-  115.-  0.4    378-  378.9   1.3         3.-  12.1
  cl-  2      5             .0                        8
  ud-
  in-
  g

Note: *TW (true widths) are unknown due to irregular contacts of mineralized
zones. For WS01, cutoffs: Au 0.3g/t, Ag 10g/t, Zn 0.5%, Cu 0.02%, Pb 0.05%.
Minimum ore composite length 0.3 m (0.3 and 1 m for Ag, Zn); maximum
consecutive waste 10 m.

Table 2: Drill Hole Coordinates

  Hole ID                   Azimuth  Dip  Northing  Easting  Total Depth (m)
  NAD 83, Nevada East grid
  PM23-001                  290      -50  8523503   165153   991.8
  WS01                      0        -90  8523487   164723   294.8

Prospect Mountain Geology and Mineralization

There are three styles of mineralization present in the Eureka district that
includes Prospect Mountain, carbonate hosted porphyry related skarn lead
(Pb), zinc (Zn), gold (Au) mineralization associated with Cretaceous
intrusions, Au, silver (Ag), Pb, Zn arbonate replacement mineralization
(CRD) and Au only Carlin style mineralization. CRD mineralization in the
area is heavily oxidized to depths of at least 610m (2000 ft) below the top
of the ridge line. Prior to this drilling program, no primary mineralization
had been observed on the Property to date except for isolated veins and
remnant small pods of sulphide. The historical mined ore consists of a
reddish, poorly consolidated fine-grained mass of material which is often
found in open space fissures and caves within the dolomite or as
discontinuous pods and chimneys that can extend over a considerable length.
Lead minerals present in the ores are mainly plumbojarosite and cerrusite.
Zinc was expected to be mostly removed during weathering, but in limited
sampling of dump material and stopes, appears to be roughly equal to lead in
the Prospect Ridge ores. In the oxidized zone, zinc is generally in the form
of hemimorphite, smithsonite and hydrozincite. Iron from weathering of
pyrite and arsenopyrite is largely in the form of haematite and various
hydrous iron species (limonite), and has coloured fracture surfaces around
the mineralization, sometimes over a distance of 10's of meters. Gold is
generally associated with the haematite masses and is free leaching. All
mineralization appears to be structurally controlled, with the intersections
of faults being preferred sites. Limestone (and dolomites) are the host
rocks. A more complete description of Prospect Mountain's geology and
mineralization can be found in the NI 43-101 Technical Report on the
Prospect Mountain Property, Eureka County, Nevada, USA dated and with an
effective date April 10, 2023, prepared by David Pym (Msc), CGeol. of LTI
Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting
Ltd., which has been filed on SEDAR+ at www.sedarplus.ca under the profile
of the Company and on the Company's website
(https://northpeakresources.com/properties/).

Review by Qualified Person, Quality Control and Reports - Prospect Mountain

Mr. Mike Sutton, P.Geo., a Director of the Company, is the Qualified Person,
as defined under National Instrument 43-101 - Standards of Disclosure for
Mineral Projects, who reviewed and approved scientific and technical
disclosure in this news release. The Qualified Person has not reviewed the
mineral tenure, nor independently verified the legal status and ownership of
the Property or any underlying property agreements.

All samples referenced herein were prepped by ALS Elko, 1345 Water St, Elko,
Nevada, USA. Gold was assayed at ALS Reno, 4977 Energy Way, Reno, Nevada,
USA. All base metals and silver were assayed by ALS Vancouver, 2103
Dollarton Hwy, North Vancouver, BC, Canada. Gold was assayed by 30g fire
assay analysis with AAS or gravimetric finish (Au-AA23/5 or Au-GRA21). Base
metals and silver were analyzed using four-acid digestion ICP-MS (ME-MS61),
with overlimit assays using Aqua Regia and four-acid digestion with ICP-MS
analysis (*-OG62). All ALS Geochemistry sites operate under a single Global
Geochemistry Quality Manual that complies with ISO/IEC 17025:2017, coupled
within a global LIMS platform. There is no relationship, fiduciary or
otherwise, between ALS and the Company.

If the results are greater than 10ppm Au, then 30g Fire Assay Analysis
(gravimetric finish) is completed. The Company's QA/QC program includes the
regular insertion of blanks and standards into the sample shipments, as well
as instructions for duplication. Standards and blanks are inserted randomly
at one each per 20 samples (unless VG or extremely concentrated base metals
is observed, where a blank is inserted in the following sample). 5% of
samples will be sent to a second lab for referee. Core recovery averaged
92%.

About Prospect Mountain

The Property lies in the Battle Mountain Eureka trend, in an area known as
the Southern Eureka Gold Belt, where three styles of mineralization have
been identified, gold-silver Carlin-style mineralization, carbonate
replacement gold, silver, lead, zinc mineralization (CRD) and carbonate
hosted porphyry related skarn lead, zinc and gold mineralization associated
with Cretaceous intrusions. At the Property, the CRD mineralization is
heavily oxidized to depths of at least 610m (2000ft) below the top of the
ridge line.

A Plan of Operations is in place, which covers part of the Property
(totalling 81 acres) and entitles an operator to pursue surface exploration,
underground mining of up to 365,000 tons per annum and certain
infrastructural works. It includes a permit to extract water from a well and
to build water containment facilities.

About North Peak

The Company is a Canadian based gold exploration and development company
that is listed on the TSX Venture Exchange under the symbol "NPR". The
Company is focused on acquiring historic sites, with low cost producing gold
and other metals properties, with near term production potential and 8+ year
mine life in the northern hemisphere.

The Company recently acquired an initial 80% interest in the Prospect
Mountain Mine complex in Eureka, Nevada (see the Company's May 4 and 23,
2023 and August 25, 2023 press releases).

The Company can give no assurances at this time that its properties and
interests will fulfil the Company's business development goals described
herein. Trading in the securities of the Company should be considered highly
speculative.

For further information, please contact:

Brian Hinchcliffe, CEO
Phone: +1-647-424-2305
Email: info@northpeakresources.com
Website: www.northpeakresources.com

Chelsea Hayes, Director
Phone: +1-647-424-2305
Email: info@northpeakresources.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release
includes certain "forward-looking statements" under applicable Canadian
securities legislation. Forward-looking statements include, but are not
limited to, timing and completion of any drilling and work programs on the
Property (including, without limitation, related to any wedge holes that may
be drilled from PM23-001), estimates of mineralization from drilling and
geophysical surveys, geological information projected from sampling results
and the potential quantities and grades of the target zones, the potential
for minerals and/or mineral resources and reserves, and statements regarding
the plans, intentions, beliefs, and current expectations of the Property and
the Company that may be described herein. Forward-looking statements consist
of statements that are not purely historical, including any statements
regarding beliefs, plans, expectations or intentions regarding the future.
Such information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative thereof or
similar variations. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the plans,
intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties, both general and specific, that
contribute to the possibility that the predictions, estimates, forecasts,
projections and other forward-looking statements will not occur. These
assumptions, risks and uncertainties include, among other things, the state
of the economy in general and capital markets in particular, accuracy of
assay results, geological interpretations from drilling results, timing and
amount of capital expenditures; performance of available laboratory and
other related services, future operating costs, and the historical basis for
current estimates of potential quantities and grades of target zones, as
well as those risk factors discussed or referred to in the Company's
Management's Discussion and Analysis for the year ended December 31, 2022
and the quarter ended September 30, 2023, available at www.sedarplus.ca,
many of which are beyond the control of the Company. Forward-looking
statements contained in this press release are expressly qualified by this
cautionary statement.

The forward-looking statements contained in this press release are made as
of the date of this press release. Except as required by law, the Company
disclaims any intention and assumes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise. Additionally, the Company undertakes no obligation to
comment on the expectations of, or statements made by, third parties in
respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

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23.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        North Peak Resources Ltd.

                   Canada
   ISIN:           CA6614441096
   EQS News ID:    1844377

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1844377 23.02.2024 CET/CEST