Mr. Bruce Counts reports

STORM EXPLORATION AND EABAMETOONG FIRST NATION SIGN EXPLORATION AGREEMENT

Storm Exploration Inc. has signed an exploration agreement (EA) with the Eabametoong First Nation (the EFN) regarding the company's Fort Hope projects: Miminiska, Keezhik and Attwood.

"The execution of an exploration agreement between Storm and the Eabametoong First Nation is a major milestone. I would like to thank chief and council for their dedicated time and effort in realizing this agreement and ensuring it is beneficial for both parties," stated Storm's president and chief executive officer Bruce Counts. "Storm firmly believes that the participation of local first nations is critical to the success of a project, and I am excited to be working with the EFN on advancing the highly prospective Fort Hope properties."

"Getting this exploration agreement in place is an important step for Eabametoong First Nation," said Chief Solomon Atlookan. "For far too long, other exploration companies have sought to obtain permits from Ontario before working collaboratively with us or other first nations. The significant thing about this new agreement is that it recognizes the role of our community in permitting, monitoring and regulating any activities on the land before and beyond any Crown permits. Mr. Counts has been very respectful in working with EFN and this approach should be a model for others to follow. EFN expects all resource companies to come and work with us on common interests, but also to respect where certain activities cannot occur. This agreement outlines a pathway for an ongoing relationship and we look forward to working with Storm to protect and steward the land while exploring this beautiful area that we have been entrusted with."

The EA establishes a framework for ongoing consultation with the EFN and provides the community with an opportunity to participate in the project through employment, training and business development. Under the terms of the EA, the Storm will make contributions to a community fund in an amount that is proportional to its exploration expenditures in EFN territory. In addition, the company will issue to the EFN $275,000 in common shares of Storm over a four-year period, commencing with $25,000 in common shares to be issued within 90 days of TSX Venture Exchange acceptance of the EA.

Fort Hope projects

The Miminiska, Keezhik and Attwood projects are located within the Miminiska-Fort Hope greenstone belt, approximately 350 kilometres north of the city of Thunder Bay, Ont. Each project has the potential to host a multimillion-ounce orogenic gold deposit. In addition, the Attwood project also has the potential to host a significant base metal deposit.

The Miminiska property is the company's primary focus and hosts drill-confirmed, high-grade gold mineralization at two primary prospects: Miminiska and Frond. Historical assays include 5.75 grams per tonne Au over 20.84 metres* and 13.95 g/t Au over 5.32 m* with mineralization hosted in banded iron formation and associated shear zones.

*Historical results have not been independently verified by Storm, and there is no guarantee that the company can reproduce the results in whole or in part. Potential investors should not rely on these historical results when making an investment decision.

Next steps

Planning for a drill program to expand and extend known mineralization at the Miminiska prospect is under way and it is expected that drilling will begin in third quarter 2024.

Qualified person

The technical contents of this news release have been reviewed and approved by Mr. Counts, PGeo, president and CEO of Storm Exploration and qualified person under National Instrument 43-101.

About Storm Exploration Inc.

Storm Exploration is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on four district-scale projects in Northwest Ontario: Miminiska, Keezhik, Attwood and Gold Standard.

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