Mr. James Boyce reports

BALANCE OF $1,500,000 FINANCING CLOSED

Goldbank Mining Corp. has closed the final $1,337,500 tranche of its previously announced financing by issuing 26.75 million units at five cents per unit. Each unit is one common share and one five-year transferable warrant. Each warrant is exercisable for one share at 6.5 cents per share. A total of $1,287,500 was issued on a flow-through basis. Flow-through shares, including shares issuable on exercise of the warrants comprising the flow-through units, will entitle holders to receive the tax benefits applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada).

Anthony Beruschi, a control person of Goldbank, acquired 25 million units for $1.25-million, comprising 83.3 per cent of the financing, constituting a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. Goldbank is relying on the exemptions contained in sections 5.5(a) and section 5.7(1)(a) as the fair market value of the participation in the private placement by the insiders does not exceed 25 per cent of the market capitalization of Goldbank, as determined in accordance with MI 61-101. Goldbank's board of directors reviewed and approved the private placement subscription by Mr. Beruschi. Goldbank did not file a material change report in respect of the related party transaction at least 21 days before closing of the private placement as the date of closing was not previously known.

Proceeds will be used for exploration and development of Goldbank's Klondike gold properties, including costs related thereto, debt payments and working capital. The terms of the financing have been accepted for filing by the TSX Venture Exchange. The units are restricted from trading until Feb. 20, 2024.

About Goldbank Mining Corp.

Goldbank is a Canadian exploration company actively exploring for gold in the historic Klondike goldfields near Dawson City, Yukon, Canada.

We seek Safe Harbor.