Mr. Scott Emerson reports

KINGSMEN ANNOUNCES SHARE CONSOLIDATION EFFECTIVE DATE

Kingsmen Resources Ltd., further to the company's news release of March 9, 2023, is proceeding with the alteration to its share structure by consolidating all of the its issued and outstanding common shares on the basis of one new common share for two old common shares. The share consolidation will reduce the 38,699,825 shares of the company currently issued and outstanding to approximately 19,349,912. No fractional shares will be issued. Any fraction of a share will be rounded down to the nearest whole number of common shares. All filings have been made and the TSX Venture Exchange has approved the share consolidation which will be effective Tuesday, March 28, 2023.

About Kingsmen Resources Ltd.

Kingsmen is a Canadian exploration company, the management of which has more the 30 years of experience in the discovery and financing of precious metals projects in Mexico, Canada, the United States and Latin America.

Kingsmen's 100-per-cent-owned Las Coloradas brownfield project is located within the northeast portion of the central Mexican silver belt in the southeastern corner of the Parral mining district, approximately 40 kilometres east of the San Francisco de Oro and Santa Barbera mining districts. New, major mining projects are currently being explored in the district: Cordero (Discovery Silver Corp.), 35 kilometres north of Parral; and La Cigarra (Kootenay Silver Inc.), 35 kilometres northwest of Parral. The historically exploited Las Coloradas mineralization is classic silver, zinc, lead and gold hosted in high-grade epithermal veins similar to those of the Parral district. In addition, the company holds a 1-per-cent net smelter return (NSR) royalty on the La Trini project, which forms part of the Los Ricos North project, operated by GoGold Resources.

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