New Target Mining Corp. — Capital/Financing Update 2023

Mar 23, 2023

New Target Mining Corp. provides a 2023 corporate exploration update for the Company’s Scarlett Property

News Release – Vancouver, B.C. / March 23, 2023 / New Target Mining Corp. (TSXV: NEW) (the “ Company ” or “ New Target ”), is pleased to provide the current status of its permit application as well as guidance on its future exploration plans on its Scarlett Property (the “ Property ”) for the 2023 field season.

Building on the successes of the prior two seasons of exploration work conducted on the Scarlett Property, the Company began the process of filing a Notice of Work (“ NoW ”) application with the Ministry of Energy, Mines and Low Carbon Innovation in the fall of 2022. The NoW application is a 5-year multi-year work permit which requests approval for up to 3.20 line kilometers of Induced Polarization, (IP) geophysical surveys and includes eight (8) drill pad locations for future diamond drilling to be conducted in 2023 through 2028. The location details included in the NoW program is illustrated in the map below.

The Company reports that the application has been received and successively passed technical review by the Ministry of Energy, Mines, and Low Carbon Innovation and is proceeding as anticipated towards consultation. The Company hopes it will receive approval in the coming months setting the stage for a 2023 exploration season.

In anticipation, the New Target exploration team is actively developing a strategy for the 2023 work season which will include community and First Nations engagement, actively pursuing drill contractors, geophysics contractors and other support staff. The additional exploration work on the Scarlett Property is subject to obtaining the necessary permits and potentially additional financing depending on the size of the exploration work program.

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Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Kristian Whitehead, P.Geo, a consultant of the Company, the optionor of the Scarlett Property and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects . Mr. Whitehead verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.

About New Target Mining Corp. : New Target Mining Corp. is a new mineral exploration company, focused on the acquisition, exploration, and development of mineral resource properties. The Company has an option to acquire a 100% interest and title to the Scarlett Property located in the New Westminster Mining Division, Mission, British Columbia.

Contact Information - For more information, please contact:

Todd Hanas, Chief Executive Officer

Tel: (778) 994 8072

Email: todd@blueskycorp.ca

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

Forward-Looking Information

This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, obtaining permits from the Ministry of Energy, Mines and Low Carbon Innovation, completing exploration work programs on the Scarlett Property, other statements relating to the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, failure to secure the equipment and personnel necessary to carry out work programs, decrease in the price of gold, copper and other metals, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐ looking statements or forward‐looking information, except as required by law.