Mayo Lake Minerals Inc. announced the start of its early summer exploration programs beginning on May 25 with prospecting and soil sampling on its Trail-Minto Gold Property followed by a definitive 1,470m diamond drill program to begin this week at its Carlin-Roop Silver Project. At a cost of approximately $900,000, the complete early summer program, which also includes work on its Anderson-Davidson, Edmonton and Cascade gold properties, is expected to be completed in early July. This allows for the possibility of follow-up exploration in late summer.

Platinum Diamond Drilling Inc. has been contracted for the diamond drilling; while Big River Mineral Exploration Inc., 100% owned by the Na-Cho Nyäk Dun Development Corporation, will provide geological services; Bureau Veritas Commodities Canada Ltd. will provide soils and rock analysis and Capital Helicopters (1995) Inc. logistical support. All contractors are based in or have offices in Whitehorse, Yukon. Carlin-Roop Silver Project.

Total of 1,470± diamond drilling at the Carlin West silver discovery. Prospecting and detailed geochemical soil sampling at Carlin West to refine drill targets for silver. Prospecting and geochemical soil sampling to determine area prospectivity for silver mineralization.

Anderson-Davidson Gold Property. Prospecting, geochemical soil sampling and geophysics to define and refine drill targets for gold in and adjacent to the Anderson Gold Trend. A gold occurrence was found at Owl-Anderson during scout drilling in 2017.

This 2022 early summer program is anticipated to result in 4 to 5 very well-defined drill targets. Trail-Minto Gold Property: Total of 550m trenching to examine nature and grade of near-surface mineralization, associated with the Roaring Fork Stock and the adjacent veined, tectonized and altered wallrock. Prospecting and geochemical soil sampling to refine and define drill targets.

Soil sampling to date indicates the potential for broadly occurring gold veining associated with the Roaring Fork Stock. Edmonton Property: Prospecting and soil sampling for Spatiotemperol Geochemical Hydrocarbons analysis to determine prospectively for gold and polymetallics associated with a large magnetic anomaly, the probable reflection of a buried polyphase intrusion. Cascade Property: Geochemical soil sampling to continue to define and confirm areas hosting trenching and drilling targets with a focus on gold and silver potential.

A number of such areas have been identified to date on Cascade. 2021 Drill Program: During late October 2021, two scout holes were drilled from a common drill pad to the northeast of a strong linear Ag anomaly trending to the west-northwest. DDH-MLM21-03 was drilled a total of 203m at an azimuth of 225° and declination of 45°.

DDH-MLM21-04 was drilled a total of 117m at an azimuth of 225° and declination of 60°. The 2021 holes revealed a stratigraphy similar to those drilled in 2020; graphitic schist overlying interbedded quartzite and graphitic schist. With depth, the graphite schist beds decline in abundance until eventually a near pure foliated quartzite dominates.

A gabbro sill underlies the foliated quartzite at a depth of 60m in the 2020 drill holes and ~28 m in the 2021 drill holes. The 2020 drill holes did not penetrate the gabbro. After coring through the gabbro, the 2021 drill hole then penetrated interbedded graphitic schist and quartzite with thin gabbro layers.

Three intervals of silver mineralization, generally associated with discordant quartz veins and traces of chalcopyrite and sulphosalts, were encountered in DDH MLM21- 03. Beginning at 71.75m downhole in gabbro; 1.6g Ag/t over 1.1m, incl. 2.3 Ag/t over 0.6 m; quartz vein and elevated Cu, Pb, Zn, Au, As, Co, Fe, Mg, Ca contents.

Beginning at 171.2m downhole in gabbro; 1.8g Ag/t over 1.2m, incl. 2.5g Ag/t over 0.7m; oblique quartz vein and sulphite rich "rubble," sulphosalts, elevated Pb, Zn, As, Sb, S, Ca contents. Beginning at 178m in quartzite; 3.7g Ag/t over 3m, incl.

12.2g Ag/t over 0.5m; discontinuous mineralized quartz veins, sulphosalts and elevated Pb, Zn, Au, As, Sb, Fe, S contents. Keno Hill Style Ag-rich veins, such as those anticipated in the upper quartzite marked by coincidental IP- Resistivity and Ag in soil anomalies are commonly flanked by weakly mineralized silver veins such as those described above. Sample Collection, Analysis and Quality Control: The drill core was logged on site at Keno before transportation and storage to the Yukon Geological Surveys core library in Whitehorse.

The core was split and sampled at New Age's core facility in Whitehorse. The samples were then sealed in poly bags and each bag was identified with the insertion of one part of a three-part sample tag. Samples were delivered to the Bureau Veritas preparatory laboratory in Whitehorse.

Pulps for analysis were prepared and then shipped to the BV analytical laboratory in Vancouver B.C. for analysis and assay. Pulps were analysed for 37 elements, including Au and Ag, with an ICP-MS finish following Aqua Regia digestion. BVM is compliant under ISO 9001.

Samples are also subject to rigorous QA/QC control during their preparation and analysis. In addition, a number of blanks and commercial standards were inserted at regular intervals. A review of the results and the quality controls revealed no irregularities.