North Peak Announces First Hole Drilled at Prospect Mountain North; CFO
Transition

EQS-News: North Peak Resources Ltd. / Key word(s): Miscellaneous
North Peak Announces First Hole Drilled at Prospect Mountain North; CFO
Transition

02.07.2024 / 13:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Calgary, Alberta--(Newsfile Corp. - July 2, 2024) - North Peak Resources
Ltd. (TSXV: NPR) (the "Company" or "North Peak") announces that drilling is
underway at its Prospect Mountain North area, with the first hole to be
drilled now completed. The roughly 10,000 foot r/c drill campaign is
targeting former near surface, high grade gold mines in the northern area of
the Prospect Mountain Property (the "Property") in Eureka, Nevada. Drilling
of some 20 holes (see Figure 1) will take place from the Wabash/Williams
mine area, Industry Tunnel, Duke and Delaware Madrid sites, with holes
ranging in depth from 300 to 700 feet.

"Required groundwork and drill mobilization allowed drilling at Industry
Tunnel to start Friday with excellent productivity continuing over the
weekend," Brian Hinchcliffe, Chairman & CEO commented.

"The last comprehensive drilling program in 1999 of some 96 holes with
26,000 feet of vertical drilling took place in the Wabash area where this
program seeks to target gold mineralization and test a revised
interpretation for the area."

Cannot view this image? Visit:
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Figure 1: Plan of historic Wabash drill collar locations and proposed drill
holes in Prospect Mountain North

To view an enhanced version of this graphic, please visit:
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In addition, the Company reports that Rob Suttie has stepped down as Chief
Financial Officer, Corporate Secretary and as a director, and Marrelli
Services will conclude its financial administrative support effective July
31, 2024.

"On behalf of the Board, we would like to thank Rob Suttie and the team at
Marrelli, who have provided invaluable support to the Company in the
important first stage of its development. I personally would like to thank
Rob for his commitment to the Company and wish him and his team all the best
in the future", added Mr Hinchcliffe.

The Company announces the appointment of Andrew Dunlop to the position of
Chief Financial Officer and Corporate Secretary effective July 1, 2024. Mr.
Dunlop is a finance and accounting professional with over ten years of
experience in the mining sector, focused primarily on assets in North and
South America. He has also been appointed to the Audit Committee of the
Company.

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 has acquired an initial 80% interest in the Prospect Mountain
Mine complex in Eureka, Nevada (see the Company's May 4 and 23, 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 press
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, estimates of mineralization from drilling, sampling and
geophysical surveys, geological information projected from drilling and
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, 2023
and the quarter ended March 31, 2024, 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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https://www.newsfilecorp.com/release/215202

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associated documents http://www.newsfilecorp.com/release/215202
News Source: North Peak Resources Ltd.


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   Language:       English
   Company:        North Peak Resources Ltd.

                   Germany
   ISIN:           CA6614441096
   EQS News ID:    1938051

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1938051 02.07.2024 CET/CEST