Mr. Brian Hinchcliffe reports

NORTH PEAK ANNOUNCES FIRST HOLE DRILLED AT PROSPECT MOUNTAIN NORTH; CFO TRANSITION

Drilling is under way at North Peak Resources Ltd.'s Prospect Mountain North area, with the first hole to be drilled now completed. The roughly 10,000 foot r/c drill campaign is targeting former near surface, high grade gold mines in the northern area of the Prospect Mountain Property (the "Property") in Eureka, Nevada. Drilling of some 20 holes (see Figure 1) will take place from the Wabash/Williams mine area, Industry Tunnel, Duke and Delaware Madrid sites, with holes ranging in depth from 300 to 700 feet.

"Required groundwork and drill mobilization allowed drilling at Industry Tunnel to start Friday with excellent productivity continuing over the weekend," Brian Hinchcliffe, Chairman & CEO commented.

"The last comprehensive drilling program in 1999 of some 96 holes with 26,000 feet of vertical drilling took place in the Wabash area where this program seeks to target gold mineralization and test a revised interpretation for the area."

In addition, the Company reports that Rob Suttie has stepped down as Chief Financial Officer, Corporate Secretary and as a director, and Marrelli Services will conclude its financial administrative support effective July 31, 2024.

"On behalf of the Board, we would like to thank Rob Suttie and the team at Marrelli, who have provided invaluable support to the Company in the important first stage of its development. I personally would like to thank Rob for his commitment to the Company and wish him and his team all the best in the future", added Mr Hinchcliffe.

The Company announces the appointment of Andrew Dunlop to the position of Chief Financial Officer and Corporate Secretary effective July 1, 2024. Mr. Dunlop is a finance and accounting professional with over ten years of experience in the mining sector, focused primarily on assets in North and South America. He has also been appointed to the Audit Committee of the Company.

About Prospect Mountain

The Property lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2000ft) below the top of the ridge line.

A Plan of Operations is in place which covers part of the Property (totalling 81 acres) and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.

About North Peak

The Company is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "NPR". The Company is focused on acquiring historic sites, with low cost producing gold and other metals properties, with near term production potential and 8+ year mine life in the northern hemisphere.

The Company has acquired an initial 80% interest in the Prospect Mountain Mine complex in Eureka, Nevada (see the Company's May 4 and 23, 2023 press releases).

The Company can give no assurances at this time that its properties and interests will fulfil the Company's business development goals described herein. Trading in the securities of the Company should be considered highly speculative.

We seek Safe Harbor.