Mr. David O'Brien reports

STUHINI ANNOUNCES OPTION OF JERSEY VALLEY GOLD PROPERTY

Stuhini Exploration Ltd. has entered into an option agreement with Goodsprings Exploration LLC and others with an effective date of Nov. 15, 2024, whereby Stuhini can acquire a 100-per-cent interest in the Jersey Valley property, located in Pershing county, Nevada.

The Jersey Valley property is a gold exploration project located in the Battle Mountain area of Nevada. The property comprises 143 unpatented lode claims, covering 2,954.5 acres (1,195.7 hectares) and is located in a favourable structural and lithostratigraphic setting. Access to the property from Battle Mountain is approximately 70 kilometres by paved and gravel roads.

The lithostratigraphic units of the project area include calcareous siltstones and sandstones of the Havallah formation, which have been strongly silicified. The Havallah is the primary host rock at the nearby Buffalo Valley and Lone Tree gold mines. Outcrops of the Havallah on the Jersey Valley property include jasperoids, iron-oxide-stained fractured calcareous siltstones and acid-leached siltstone breccias. Rock samples have returned anomalous values of pathfinder elements, such as arsenic: 2,100 parts per million, antimony: 266 ppm, mercury: 21 ppm, silver: four ppm and gold values: up to 75 parts per billion. This anomalous geochemistry combined with the acid-leaching of the calcareous units within the Havallah exposed on the property is interpreted to be the result of strong vapour-phase alteration associated with a lithocap.

There is evidence of very limited work by two companies on the property in the 1990s. This work included a small trenching program conducted by Barrick Gold. Sampling results from both work programs are unknown. Uranerz Exploration and Mining Ltd. also drilled two west-directed drill holes in the southern area of the property and three holes in the northern area. Efforts have been made to track down this historical data but were unsuccessful. At the time of the drilling, 300-foot-deep holes were typical for exploration programs and may not have tested the potential for deeper mineralization.

Stuhini president and chief executive officer Dave O'Brien commented: "We are excited to obtain an option on the Jersey Valley property on reasonable and non-dilutive terms. The property represents an opportunity for us to explore in a jurisdiction known for being well endowed with precious metals and hosting several large mines over the years."

During the 30-year term of the agreement, Stuhini must make the following minimum payments (until the commencement of commercial production on the property) to keep the option in good standing.

There are no work commitments associated with the option, and the only committed obligation is the $7,500 (U.S.) cash payment on signing. The balance of the minimum payments are all at the company's election should it wish to maintain the option after year 1.

Stuhini may exercise the option at any time by making a cash payment of $300,000 (U.S.) (in addition to any minimum payments already made). Upon exercise of the option, Stuhini will grant a 2.0-per-cent gross return royalty on the property, subject to Stuhini's right to purchase 50 per cent of the royalty (representing 1.0 per cent of the gross returns) for $2-million (U.S.) within 30 days of commencement of commercial production. Minimum payments made after the exercise of the option shall be credited against the royalty payments.

The technical disclosures contained in this news release have been approved by Ehsan Salmabadi, PGeo, and vice-president, exploration and project development, for Stuhini, who is a qualified person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Stuhini Exploration Ltd.

Stuhini is a mineral exploration company focused on exploration and development of precious and base metal properties in Western Canada and the southwestern United States. The company's portfolio of exploration properties includes the flagship Ruby Creek property, 14 kilometres east of Atlin, B.C.; the Que project, 70 km north of Johnson's Crossing, Yukon; the South Thompson nickel project, 35 km northwest of Grand Rapids, Man.; the Big Ledge property, 57 km south of Revelstoke, B.C.; the Red Hills project in northeastern Nevada, the Jersey Valley property in northwestern Nevada and the Lindsay project in southeastern Arizona.

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