Letho Resources Corp. — Capital/Financing Update 2023

Jun 2, 2023

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NEWS RELEASE

For immediate distribution June 2, 2023

LETHO SHARES FOR DEBT - CORPORATE UPDATE

LETHO RESOURCES CORP. (TSX-V: LET.H) Vancouver, B.C. – Letho Resources Corp. ("Letho" or the "Company") provides the following information in reference to the Company’s previously announced debt settlement and a corporate update.

The Company, following TSX-V approval, has issued 12,584,183 shares to settle and extinguish a total outstanding indebtedness of $1,194,497 to arm's-length creditors at a deemed price of 9.5 cents per share.

Canadian acquisition of producing oil and gas assets:

The Company is awaiting decision on bids submitted for oil and gas production opportunities in Canada and continues to investigate new opportunities.

Update on Albanian activities:

In relation to Company’s application to acquire production assets in Albania there are no updates from the authorities during the period. Company will update the market on the progress of the application.

The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To learn more about us, please visit our website at: www.lethoresources.com

ON BEHALF OF THE BOARD OF DIRECTORS OF LETHO RESOURCES CORP.

Sotirios Kapotas President & CEO, Director

For more information, please contact:

Sotirios Kapotas info@lethoresources.com

Website: www.lethoresources.com

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements or forward-looking information that are based on assumptions as of the date of this news release. Such statements include statements relating to the completion of the proposed acquisitions of Canadian and Albanian oil and gas assets. These statements reflect management’s current estimates, beliefs, intentions and expectations and are not guarantees of future performance. Such statements are based upon certain assumptions which Letho’s management believes to be reasonable, including assumptions relating to the availability of funds, the receipt of Exchange approval and the timeline for and results of regulatory review. Letho cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Letho’s control. Such factors include, among other things: risks and uncertainties relating to Letho’s ability to raise additional financing and meet financial obligations as they come due. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Letho undertakes no obligation to publicly update or revise forward-looking information.