Kingsmen Resources Ltd. — M&A Activity 2022

Dec 1, 2022

TSXV: KNG OTCQB: KNGR

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Kingsmen Executes Definitive Agreements to Acquire Las Colorados Project in Chihuahua, Mexico

Vancouver, British Columbia – December 01 , 2022 - Kingsmen Resources Ltd. ("Kingsmen" or the “Company") (TSXV:KNG) (OTCQB: KNGRF) announces that, further to the Company’s press release dated September 29, 2022 the Company’s Mexican, subsidiary Leona Silver Exploraciones, S.A. DE C.V. has signed the definitive agreements to acquire 100% of the Las Colorados Gold-Silver-Copper-Lead-Zinc Project in Chihuahua Mexico (the “Acquisition”). The project area includes the Las Colorados mine and surrounding claims.

The Acquisition remains subject to, among other things, approval by the TSX Venture Exchange (the “TSXV”), including the satisfaction of any customary conditions imposed by the TSXV. For further information on the Acquisition, please see the news release of the Company dated September 29, 2022.

About Kingsmen Resources

Kingsmen is currently focused on district-scale exploration for precious metals in the prolific mining district of Parral Mexico. The proposed acquisition of the Las Colorados Project in Mexico will give the Company a renewed focus on exploration, development and production. In addition, the company holds a 1% NSR on the La Trini project which forms part of the Los Ricos North project currently being explored by GoGold Resources in the state of Jalisco State, Mexico.

Signed: “Scott Emerson”

President & CEO

Phone: 6046859316

Email: se@kingsmenresources.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release .

Forward-Looking Statement:

All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the acquisition of the Las Coloradas Project and receipt of regulatory approval, are forward-looking statements. Although Kingsmen believes that

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the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Kingsmen can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forwardlooking statements, including the risks, uncertainties and other factors identified in Kingsmen’s periodic filings with Canadian securities regulators, and assumptions made with regard to: Kingsmen’s ability to make the required payments under the definitive agreements; and Kingsmen’s ability to secure the necessary regulatory approvals. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forwardlooking statements. Important factors that could cause actual results to differ materially from Kingsmen’s expectations include risks associated with the business of Kingsmen; risks related to the satisfaction or waiver of certain conditions to the closing of the acquisition of the Las Coloradas Project; non-completion of the acquisition of the Las Coloradas Project; risks related to exploration and potential development of the Las Coloradas Project; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Kingsmen’s filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Kingsmen does not undertake any obligation to update forward looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.