MacDonald Mines Exploration Ltd. provide an update on the spring drill program undertaken at the Alwyn copper-gold trend and the Glade gold trend on its 100% owned SPJ Property in Sudbury, Ontario. Summary of Drill Program: On June 28, 2023 the Company completed 1,206 meters of oriented diamond drilling, including 954 meters of drilling at the Alwyn Cu-Au trend and 252 meters of drilling at the Glade Au trend. Intersection of a broad and near-surface potential zone of gold mineralization at Glade.

Visible gold in quartz-carbonate-chlorite veining identified periodically over 40 meters in hole AG-23-111. This zone is located 20 to 60 meters away from intercepts identified in 2021 drilling in hole AG-21-097. This area has been selected for rush assay analysis and drill core will be sent shortly.

Extension of possible PGM mineralization at depth. Disseminations of pyrrhotite and chalcopyrite occurs in Nipissing diabase and within quartz-carbonate veins between 128 to 149 meters and 212 to 222 meters in hole AG-23-111. Comparable sulfide assemblage was associated with PGM mineralization in hole AG-22-103, 45 meters northeast.

Hydrothermal iron enrichments observed in drilling 300 meters southeast of historic Alwyn mine . Stringers to zones of semi-pervasive replacement of sedimentary textures by magnetite and/or Fe-rich chlorite, as well as veinlets of K-feldspar-chlorite-fluorite-chalcopyrite and specular hematite in holes AW-23-109 and AW-23-110 could be suggestive of the presence of iron-rich copper-gold mineralization affiliated with an iron oxide copper-gold (?IOCG?) deposit. Glade Gold Target: 2023 drilling at Glade continues to demonstrate near surface zones of gold mineralization hosted in quartz-carbonate veins, as demonstrated by visible gold found in four locations over 40 meters in hole AG-23-111, at 8.9, 17.9, 28.0 and 51.0 meters.

These observations occur approximately 55 meters laterally from the significant intercept measured in 2021 in hole AG-21-097, which consisted of 113 g/t gold over 0.96 meters core length. Gold mineralization and Fe-rich alteration types observed in the Glade Au trend are comparable to the styles observed at the Scadding deposit, located approximately 1 km to the north of Glade. In the Glade Nipissing intrusion, the 2022 drilling program intersected 0.16 g/t Pd over 4.00 meters in hole AG-22-103 with anomalous Cu and Ni within a more mafic domain of the Glade Nipissing intrusion.

This was a new observation for the Nipissing diabase in the Glade area, suggesting PGE-Ni-Cu potential for the intrusive unit. Observations of increased pyrrhotite and chalcopyrite between 128 and 149 meters, as well as between 212 and 222 meters in the new drilling from hole AG-23-111 could provide new insights into the variability of PGM?s and size potential for this mineralization. Copper-Gold Mineralization along the McLaren Lake Fault Zone: The MLFZ is emerging as a compelling exploration target for copper-gold and potentially cobalt-gold mineralization.

Along the 2.5 km Alwyn Cu-Au trend defined in collaboration with ALS GoldSpot, near-surface copper-gold mineralization is associated with networks of quartz-carbonate veins. The 2023 gravity survey and data from the 2022 and 2023 drilling programs indicate that Cu-Au mineralization can also be associated with iron-rich alteration in the lateral and deeper extensions of the system. Regionally, the MLFZ is highly prospective for critical and precious metals mineralization.

In addition to Alwyn, along the MLFZ on the SPJ Project the primary targets include the Ashigami and the Crerar showings, located 4.5 km and 9.5 km southeast of the Alwyn mine, respectively.