North Peak Completes First Drill Hole at Diamond Mine on Prospect Mountain,
Eureka; Downhole EM Survey Being Undertaken Shortly; Assay Results Pending

EQS-News: North Peak Resources Ltd. / Key word(s): Miscellaneous
North Peak Completes First Drill Hole at Diamond Mine on Prospect Mountain,
Eureka; Downhole EM Survey Being Undertaken Shortly; Assay Results Pending

19.01.2024 / 17:01 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Calgary, Alberta--(Newsfile Corp. - January 19, 2024) - North Peak Resources
Ltd. (TSXV: NPR) (the "Company" or "North Peak") reports that it has drilled
its first deep core hole at Prospect Mountain (the "Property") and that a
BHEM survey is being undertaken to identify potential locations for further
wedge drilling. This first hole NPR23-01 in Phase 1 of North Peak's program
was 3,250 feet in length and targeted the roughly 2 kilometre conductive
anomaly, located directly beneath the old oxide gold, silver, lead and zinc
historical stopes of the Diamond Mine, as a result of geophysical surveys
the Company carried out in the summer of 2023 (see the Company's October 27,
2023 press release).

"Eureka is now receiving the exploration focus at depth that other Nevada
mining camps have received and will uniquely benefit from a greater
understanding of the presence of polymetallic CRD, Skarn and Carlin
mineralisation increases," said Brian Hinchcliffe, North Peak's CEO. "This
first hole will provide us with greater insights into the structures and
mineralisation at depth below the historical workings within the sulphide
portion of the mineralisation and downhole surveys play an important role in
unlocking these deeper potential areas of the Eureka camp."

The drill pad was located at an operational optimal location, at the portal
entrance to the Diamond mine. The hole went to a depth of 5,492 feet amsl
underneath Shaft 1 of the main workings targeted at the sulphide
mineralisation below the water table which is estimated to be at around
6,500 feet amsl. The metal casing was left in the hole to allow for
potential wedge holes that would be drilled following the completion of a
downhole geophysical BHEM survey. The BHEM survey is being undertaken to
evaluate the best orientation for potential wedging of this hole, as it will
help to identify the location of the best conductors (sulphides) relative to
the position of the original hole.

Samples for this first core hole have been submitted to ALS Laboratories and
North Peak is awaiting the completion of the full multi-element results and
expects results in the next few weeks.

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.

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, 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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To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/194884

Click on, or paste the following link into your web browser,to view the
associated documents http://www.newsfilecorp.com/release/194884
News Source: Newsfile


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   Language:       English
   Company:        North Peak Resources Ltd.

                   Canada
   ISIN:           CA6614441096
   EQS News ID:    1819257

End of News EQS News Service
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1819257 19.01.2024 CET/CEST