Barsele Minerals Corp. provided an operational update regarding ongoing exploration activities within the Barsele Gold-VMS Project area in Västerbottens Län, Northern Sweden . The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited.

Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay requirement by Barsele until a pre-feasibility study is completed.

Between January 1 and May 31, 2022, Agnico Eagle personnel and certain contractors have continued with office-related and field-specific exploration activities at a number of exploration sites throughout the property. Work has included geophysical surveys, base of till sampling, plus MEFFA (multi-element fine fraction analysis) surface till sampling and data interpretation programme utilizing automated pXRF scanning, together with laser ablation and ICP-MS, to define precious/base metal anomalous areas. All this work has been carried out in preparation for this year's diamond drill campaign.

New mineralized structural and stratigraphic trends continue to evolve, for both deposit types. Studies related to gold occurrences associated with certain elements, minerals and alteration phases have been on-going. Diamond drilling by Agnico Eagle since 2015, within the 34,533-hectare property totals 158,439 metres of overburden penetration and core collection from a total of 422 drill holes.

ADC Drilling of Finland has been retained to carry out the 2022 diamond drilling campaign. Sample results referred to in prior News Releases have been tested at independent MS Analytical Service, wherein core cutting and sample preparation is carried out in Storuman, Sweden and the analyses of both Au and multi-element analysis is completed in Canada. The assay method is SWED-Edh-6, which comprises: FAS-121, Au fire assay-AA on 50 gram-above 3 ppm Au fire assay-gravimetric; FAS-425, Au by fire assay and gravimetric finish 50-gram nominal sample weight; IMS-230, 48 element four-acid digestion ICP-MS; ICF-6Xx, default over limit methods for ICF-6Ag, ICF-6As, ICF-6Cu, ICF-6Pb, ICF-6Zn, SPM-210 (S); FAS-418, Ag by fire assay and gravimetric finish for Ag above 1,000 ppm.

For semi-massive to massive sulphide rock, ICP-130 aqua regia is used for multi element analysis, instead of the four-acid digestion. As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the Barsele Project area. Basic environmental assessment and surface water characterization, species studies and hydrogeology studies are ongoing.