Mr. Bryson Goodwin reports

STAMPER OIL & GAS CORP. FIRST ASSAY RESULTS RECEIVED: RED 23-03

Stamper Oil & Gas Corp. has shared the first assay results from hole RED 23-03 drilled during its 2023 Redonda copper, molybdenum and rhenium fall drill program.

Comments from president and chief executive officer Bryson Goodwin

"The preliminary findings from RED 23-03 have left my team and me thoroughly impressed. Upon reviewing the data, the significance of the results, particularly 77 metres of 0.477 per cent copper equivalent, have exceeded our initial expectations.

"Additionally, we achieved significant near-surface values, ranging from 3.1 metres to 48 metres of 0.529 per cent CuEq. This result further strengthens our confidence in the conclusions drawn from our research.

"The discovery that a 200-metre hole is almost fully mineralized while yielding better-than-anticipated results is a confirmation of our acquisition of Redonda. The Stamper team anticipated positive outcomes, but was pleased to discover this wide of an intercept of mineralized core.

"I have included the following information to help shareholders view our results in a broader perspective."

For a mine currently in production:

• Typical cut-off 0.10 per cent acid soluable copper:
  • This is the number below which you do not consider copper to be recoverable.
• Profitable production copper grade per cent 0.17 (as reported in 2022 with a price per pound low of $3.22);
• Profitable production molybdenum 0.008.

Copper is forecast to exceed $4 with many acknowledged experts predicting $5 by 2025. This gives a frame of production understanding so shareholders can fully digest the listed results for RED 23-03.

The currently known highest-grade copper-moly zone and associated breccias extend over a defined northerly horizontal length of over 600 metres, a width of at least 500 metres and a vertical extent of 300 metres. This higher-grade, potassic-altered centre of mineralization is composed of a variable density of dark mafic-rich fragments. Higher grades are clearly related to abundance of dark fragments in vugs and heavy chalcopyrite/molybdenite and pyrrhotite replacement.

However, some high-grade copper/MoS2 is also associated with the density of quartz stockworks and fracture filling. The locus of magmatic-hydrothermal multiphase intrusives and brecciation associated with mineralization is distinct from the surrounding Coast plutonic complex although current level of mapping has not well documented the contact relationships. The multiphase system is clearly younger than the enclosing Coast plutonic rocks.

The very large breccia-magmatite body to the northeast is sparsely mineralized on surface but has not been tested by drilling. Previous operators suggest that the focus of mineralization may occur at depth to the northeast as interpreted by the magnetic signature.

The company is considering an aggressive program in 2024, which may consist of:

1. Airborne magnetics and radiometrics to define the potassic core zone;
2. Limited induced polarization;
3. Deeper drilling to below 500 m.

This program is currently permitted. A new notice of work (NoW) has been filed in 2023 to expand the currently permitted program.

The mineralized zones are open to the north. A separate old road system 1.0 kilometre to the northwest will be investigated in 2024 for possible extensions of the mineralized zone.

The mineralized zone is open to the south but may plunge to the south (under the Coast plutonic complex). Some future drilling is warranted along roads to the south after airborne geophysics are completed.

The current results allow a reinterpretation of the geology and mineralization. The entire mineralized area is a series of multiphase magmatic-hydrothermal breccias.

About Redonda

The project comprises nine claims totalling 2,746.46 hectares and is located 40 kilometres northeast of Campbell River, B.C. Redonda is easily reached with year-round regularly scheduled barge service out of Campbell River through Marinelink. Access from Redonda Bay is by five kilometres of recently upgraded logging road. Logging is continuing and assures a well-maintained complex of forest service roads across the claims. Work proceeded in 2021 under a letter of support from the Klahoose First Nation within its traditional territory and a free use permit, drill permit and IP exemption from the Ministry of Energy, Mines and Low Carbon Innovation (EMLI).

The regional setting of the Redonda property is part of the Coast suture zone between the Wrangellia terrane and the Coast plutonic complex. In the claims area, early Cretaceous dioritic intrusive rocks of the Coast plutonic complex have been intruded by at least three later intrusive units, including a quartz plug, a 60- to 90-metre-wide hornblende dike, which is locally brecciated over its 650-metre exposed length, and several smaller feldspar dikes, which cut dioritic rocks near the southwest margin of the hornblende dike. Higher concentrations of copper-molybdenum mineralization are closely associated with the hornblende dike, particularly in areas where it has been brecciated. The geological setting of the mineralization on the Redonda mineral claims shares a number of features similar to those observed at the OK Over copper-molybdenum porphyry deposit located 34 kilometres to the southeast and north of Powell River and the Gambier Copper deposit in Howe Sound.

Quality assurance/quality control

Analytical work for samples was completed by ALS Canada Ltd., an ISO/IEC 17025 2017 accredited lab, with sample preparation and geochemical analyses in North Vancouver, B.C. Core samples were fine crushed before a 250-gram split was pulverized to better than 85 per cent passing 75 microns. Gold was determined for core samples by the PGM-ICP24 procedure, which involves fire assay preparation using a 50-gram charge with an inductively coupled plasma-atomic emission spectroscopy finish. Multielement data for 48 elements were determined for all samples by the ME-MS61 procedure, which involves a four-acid digestion followed by ICP-AES and inductively coupled plasma-mass spectrometry.

Rigorous procedures are in place regarding sample selection, collection, chain of custody and data entry. Certified assay standards and blanks are routinely inserted into the sample stream of diamond drill samples to ensure integrity of the assay process. All diamond drill samples included in this news release have passed the QA/QC procedures as described above. Core was sampled using a manual splitter, with half of each interval sent to the lab for analysis, and the other half retained with sample intervals marked on the boxes.

Qualified person

The technical disclosure in this release has been read and approved by J.T. Shearer, MSc, PGeo (British Columbia and Ontario), a qualified person as defined in National Instrument 43-101. Mr. Shearer is not arm's length.

About Stamper Oil & Gas Corp.

Stamper (TSX Venture Exchange: STMP) is an energy-commodity-focused resource company seeking to acquire interests in mineral and/or oil and gas resource properties focused on energy creation, storage or delivery. The company is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.

We seek Safe Harbor.