Mr. Sylvain Laberge reports

1844 PROVIDES UPDATES ON HAWK RIDGE OPTION AGREEMENT AND NON-BROKERED PRIVATE PLACEMENT OF UNITS

1844 Resources Inc.'s previously announced amended and restated option agreement with Nickel North Exploration Corp. has terminated in accordance with the terms of the amended and restated option agreement due to market conditions. As a result, the company has no right to acquire any interest in the Hawk Ridge property.

With the termination of the amended and restated option agreement, the company now intends to use the aggregate gross proceeds of up to $1.5-million from its previously announced non-brokered private placement of up to 75 million units at a price of two cents per unit for general and administrative expenses and for other properties in the company's portfolio. The company expects to close the unit offering on or about March 8, 2024, subject to TSX Venture Exchange approval.

Insiders of the company are expected to participate in the unit offering. This participation by insiders in the offering constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. However, the company considers such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of the units subscribed for by the insiders and the consideration for the units paid by such insiders would not exceed 25 per cent of the company's market capitalization.

About 1844 Resources Inc.

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

We seek Safe Harbor.