Mr. Etienne Moshevich of Transcend reports

ATCO MINING INC. SHAREHOLDER REPORTS 13.7% EQUITY INTEREST

This news release is being disseminated as required by National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report regarding the acquisition of common shares by Transcend Capital Inc. in the capital of Atco Mining Inc. (the issuer).

On Oct. 25, 2022, the issuer completed its initial public offering (IPO) of 10 million common shares at a price of 10 cents per share for total gross proceeds of $1-million pursuant to the final prospectus of the company dated Sept. 29, 2022, and an agency agreement of the same date between PI Financial Corp. and the issuer.

Pursuant to the IPO, Transcend Capital, a company wholly owned by Etienne Moshevich, acquired 1.83 million shares. Immediately prior to the closing of the IPO, the company had 1,600,001 shares representing approximately 10.32 per cent of the issued and outstanding shares and immediately after closing of the IPO, the company had 3.43 million shares, representing approximately 13.7 per cent of the issued and outstanding shares.

As disclosed in the early warning report, Transcend Capital may in the future acquire or dispose of further securities of the issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.

A copy of the early warning report filed with the applicable securities regulators regarding the above disposition is available on SEDAR.

About Atco Mining Inc.

Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is also exploring for sulphide-rich VHMS deposits in Saskatchewan as well as salt opportunities in western Newfoundland.