Mr. Sylvain Laberge reports

1844 ANNOUNCES UPDATE REGARDING HAWK RIDGE OPTION AGREEMENT

1844 Resources Inc., further to the company's news releases dated March 6, 2023, and Sept. 23, 2023, has entered into an amended and restated option agreement with Nickel North Exploration Corp. (NNX), with respect to the option agreement between the parties dated March 6, 2023, as amended, relating to the company's option to acquire the Hawk Ridge project. Pursuant to the amended and restated option agreement, the parties have agreed to amend the payment terms and conditions of the option agreement as follows:

1. Upon entering into the amended and restated option agreement, the company paid NNX $15,000 in cash as a non-refundable deposit and, upon receiving TSX Venture approval of the amended and restated option agreement, the company will pay NNX $335,000 in cash and issue to the optionor five million common shares in the capital of the company.
2. The company is now entitled to acquire a 20-per-cent undivided interest in the Hawk Ridge project on the first anniversary of the date that is two business days following the approval of the amended and restated option agreement by the TSX Venture Exchange (the effective date) by paying $350,000 and issuing four million common shares of the company to NNX, and incurring $500,000 of exploration expenditures before the first anniversary of the effective date.
3. If the company exercises the first option, it can now acquire an additional 10-per-cent (for an aggregate 30 per cent) undivided interest in the Hawk Ridge project by paying $350,000 and issuing four million common shares of the company to NNX on the second anniversary date of the effective date, and incurring $500,000 of exploration expenditures before the second anniversary of the effective date.
4. If the company exercises the second option, it can now acquire an additional 20-per-cent (for an aggregate 50-per-cent) undivided interest in the Hawk Ridge project by paying $750,000 and issuing three million common shares of the company to NNX on the third anniversary date of the effective date, and incurring $1-million of exploration expenditures before the third anniversary of the effective date.
5. If the company exercises the third option, it can now acquire an additional 30-per-cent (for an aggregate 80 per cent) undivided interest in the Hawk Ridge project by paying $1-million and issuing three million common shares of the company to NNX on the fourth anniversary date of the effective date, and incurring $2-million of exploration expenditures before the third anniversary of the effective date.
6. If the company exercises the fourth option, it can now acquire an additional 20-per-cent (for an aggregate 100 per cent) undivided interest in the Hawk Ridge project by paying $2-million to NNX on the fifth anniversary date of the effective date.

Additionally, under the option agreement, if the company did not satisfy the previous payment terms and conditions of the second option, the company's option to acquire the Hawk Ridge project would terminate and the company was to return to NNX the undivided interest in the Hawk Ridge project that the company would have acquired upon the exercise of the first option for nil consideration, resulting in the company holding no interest in the Hawk Ridge project. Now, pursuant to the amended and restated option agreement, if the company does not satisfy the payment terms of the third option, the company's option to acquire the Hawk Ridge project will terminate and the company will return to NNX the undivided interests in the Hawk Ridge project to be acquired upon the exercise of the first option and the second option for nil consideration, resulting in the company holding no interest in the Hawk Ridge project.

The remaining terms of the option agreement are restated in the amended and restated option agreement.

Sylvain Laberge, president and chief executive officer of the company, commented: "The option to acquire a 100-per-cent interest in the Hawk Ridge project is transformational for 1844. Hawk Ridge is expected to become one of the flagship properties of the company, and is expected to add to our existing portfolio of copper and other critical mineral projects in coastal Quebec."

For more details regarding the option agreement and Hawk Ridge property, see the company's news releases dated March 6 and March 7, 2023. Copies of the company's news releases are available under the company's SEDAR+ profile.

About 1844 Resources Inc.

1844 Resources is an exploration company with a focus on strategic and energetic metals and underexplored regions of Gaspe, Nunavik, Quebec. With a dedicated management team, the company has a goal to create shareholder value through the discovery of new deposits.

We seek Safe Harbor.