File: '\\swfile\EmailIn\20241016 154428 Attachment 2024-10-16 - Demesne - CEO PR.docx'

LEGAL_45097992.1

LEGAL_45097992.1

DEMESNE RESOURCES LTD. ANNOUNCES CEO SUCCESSION

Vancouver, BC, October 16, 2024 - Demesne Resources Ltd. (CSE:DEME) ("Demesne" or the "Company") announces that Adam Virani has resigned as the Chief Executive Officer of the Company effective today. The Company is pleased to announce that Murray Nye has been appointed as Chief Executive Officer, effective today. Mr. Virani will remain as the Corporate Secretary and a director of the Company and will work closely together with Mr. Nye to ensure a seamless leadership transition as the Company continues to evaluate growth opportunities.

Mr. Nye brings over 20 years of experience as a director and officer of various public companies, with junior mining sector, mergers & acquisitions, and capital markets expertise. He most recently served as CEO of a publicly-listed junior mining company from 2016 until 2022, where he was led efforts in securing seed capital financing and listing on the Canadian Securities Exchange. Mr. Nye was also instrumental in helping the company secure a lease to purchase option and acquiring key patented mining claims, which hosted three historic producing mines.

"This is a very exciting time for Demesne as we look to advance the Star Project and assess growth opportunities for the Company." said Mr. Nye. "Demesne is well positioned, and I am excited to lead our team in unlocking the Company's exploration and subsequent development potential, growing the relationships that Demesne has with its stakeholders, and delivering value to our shareholders."

ABOUT DEMESNE RESOURCES LTD.

Demesne Resources Ltd. is a British Columbia based company involved in the acquisition and exploration of magnetite mineral properties. The Company's sole property is the Star Project, consisting of five contiguous mineral titles covering an area of approximately 4,615.75 hectares located in the Skeena Mining Division, British Columbia, Canada. The Company has entered into an option agreement pursuant to which it is entitled to earn an undivided 100% interest in the Star Project.

ON BEHALF OF THE BOARD OF DIRECTORS:

Adam Virani

Director

For further information, please contact: Adam Virani, Corporate Secretary and Director, Email: viraniad@gmail.com; Phone: +56 9-4770-8252.

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release and has neither approved nor disapproved the contents of this press release.