Mr. Rupert Williams reports

NORTH PEAK ANNOUNCES HARRY DOBSON HAS BEEN APPOINTED EXECUTIVE CHAIRMAN AND A DIRECTOR; GRANT OF STOCK OPTIONS

Harry Dobson has joined North Peak Resources Ltd., being appointed to the board of directors and as executive chairman of the company. Mike Sutton has stepped down from the board of directors but will continue as a technical adviser to the company.

"Harry is a founding shareholder of North Peak, and the company will benefit greatly from his extensive insight and experience in strategically financing and building mining assets into world-class deposits," said Rupert Williams, chief executive officer. "We welcome him to the board and as executive chairman and look forward to benefiting from his guidance as we continue to explore at Prospect Mountain in Nevada.

"In addition, on behalf of the board, I would like to thank Mike Sutton for his guidance as we evaluated and secured the Prospect Mountain mine complex and we will continue to benefit from his technical expertise with the company as well as across the wider group."

Mr. Dobson is a former investment banker and senior partner of Yorkton Securities. He currently engages in various merchant banking and venture capital activities in North America and Europe. He was formerly a founding shareholder and chairman of Kirkland Lake Gold Inc. and is a founding shareholder of Rupert Resources Ltd. He has acted as chairman of several resource companies, including American Pacific Mining Company Inc. and Lytton Minerals Ltd. and is currently chairman of Western Gold Exploration Ltd. and Borders & Southern Petroleum PLC.

Given recent changes on its board of directors, the company has reconstituted its audit committee and it is now made up of John Thomson (chair), Ty Erickson and Michael Ouellette.

David Pym, CGeol, BSc, MSc, consultant geologist for the company, who is leading the exploration efforts at the Prospect Mountain mine complex, is taking over responsibility as the qualified person for the company (as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects). In addition, Chelsea Hayes, currently director of business development, will step up to the to the role of vice-president of operations and corporate development, reflecting the advancement of the project.

In addition, the company announces the grant of incentive stock options to acquire a total of 950,000 common shares of the company at an exercise price of 87 cents per share. These options have a five-year term. Of these options, 625,000 were granted to directors and officers and 75,000 to consultants of the company and which vest as to one-half immediately and the remaining one-half on the first-year anniversary of the date of grant. The remaining 250,000 options were granted to a consultant of the company and vest as to one-quarter three months from the date of issuance and one-quarter every three months thereafter.

About North Peak Resources Ltd.

The company is a Canadian-based gold exploration and development company listed on the TSX Venture Exchange under the symbol NPR. The company acquired an initial 80-per-cent interest in the Prospect Mountain mine complex in Eureka, Nev. (see the company's May 4, May 23 and Aug. 25, 2023, press releases).

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