Mabel Ventures Inc — Capital/Financing Update 2023

Jul 18, 2023

MABEL VENTURES INC. Suite 3123, 595 Burrard Street Vancouver, British Columbia V7X 1J1

THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES

MABEL VENTURES ANNOUNCES COMPLETION OF PRIVATE PLACEMENT

July 18, 2023 – Vancouver, British Columbia – Mabel Ventures Inc. (the “ Company ”) is pleased to announce that it has completed a non-brokered private placement (the “ Offering ”) which consisted of the sale of 12,500,000 common shares in the capital of the Company, issued on a “flow-through” basis (each, a “ FT Share ”) within the meaning of the Income Tax Act (Canada) (the “ Tax Act ”), at a price of C$0.02 per FT Share, for aggregate gross proceeds of $250,000.

The gross proceeds from sale of the FT Shares will be used to incur eligible Canadian Exploration Expenses (within the meaning of the Tax Act). All qualifying expenditures will be renounced in favour of the subscribers of the FT Shares with an effective date not later than December 31, 2023.

All Shares issued in connection with the Offering are subject to a statutory hold period until November 19, 2023 in accordance with applicable securities laws. In addition, a portion of the Shares are subject to a voluntary pooling arrangement from which they will be released quarterly in eight equal installments over a twenty-one-month period. No finders’ fees or commissions were paid in connection with completion of the Offering.

On behalf of the Board,

Mabel Ventures Inc.

Alicia Krywaniuk, Chief Financial Officer and Corporate Secretary

This news release may contain certain “Forward-Looking Statements” within the meaning of applicable securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the intended use of proceeds from the Offering and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.