Mr. Sylvain Laberge reports

1844 RESOURCES INC. ANNOUNCES EQUITY UNIT FINANCING, PROVIDES UPDATE ON MARKET-MAKING AGREEMENT AND ANNOUNCES EXTENSION OF OPTION AGREEMENT WITH NICKEL NORTH

1844 Resources Inc. is undertaking a non-brokered private placement of up to 30 million units of the company at a price of 2.5 cents per unit for aggregate gross proceeds of up to $750,000.

Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant exercisable to acquire one common share at a price of five cents for a period of 24 months following the closing date of the offering.

The proceeds of the offering will be used to make the initial option payment under the previously announced option agreement with Nickel North Exploration Corp., with respect to the Hawk Ridge nickel/copper project, located in northeastern Quebec, and for general working capital purposes. The offering is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange. The option agreement remains subject to exchange approval (1).

In connection with the offering, the company may pay finders' fees to certain eligible arm's-length parties in accordance with the polices of the exchange in consideration for their efforts in introducing subscribers to the company.

All securities issued in connection with the offering will be subject to a hold period of four months and a day from the date of issuance pursuant to applicable Canadian securities laws.

It is anticipated that insiders of the company may participate in the offering and such units issued to insiders will be subject to a four-month hold period pursuant to applicable policies of the exchange. The issuance of units to any insiders will be considered a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. In respect of any such insider participation, the company expects to rely on exemptions from the formal valuation requirements of MI 61-101 pursuant to Section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to Section 5.7(1)(a), as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25 per cent of the company's market capitalization.

Update on market-making services agreement

The company also wishes to provide an update regarding its market-making agreement with Venture Liquidity Providers Inc. (VLP). The company originally entered into the agreement with VLP on July 28, 2020 (see news release dated July 29, 2020). Under the agreement, VLP provides market stabilization and liquidity services for the company's common shares listed on the exchange.

Pursuant to its terms, the agreement has been automatically renewed for successive 12-month terms and has remained in effect continuously since its inception, including the most recent renewal on July 29, 2024.

The company confirms that:

• The engagement is fee based only and does not include performance-based compensation.
• The agreement remains subject to exchange policies and approvals.

Extension of option agreement with Nickel North

1844 and Nickel North have entered into a third amending agreement with respect to the option agreement. Pursuant to the terms of the third amending agreement, the parties have agreed to extend the outside date (as defined in the option agreement) from April 30, 2025, to June 20, 2025. The third amending agreement also amends the option agreement to require Nickel North to obtain shareholder approval no later than Aug. 31, 2025.

The remaining terms and conditions of the option agreement remain unchanged, and the option agreement, as amended, remains subject to exchange approval.

About 1844 Resources Inc.

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

(1) For further details on the option agreement, see the company's news release dated Dec. 11, 2024 (a copy of which is available under the company's SEDAR+ profile).

We seek Safe Harbor.