Sankamap Metals — Capital/Financing Update 2024

Jul 25, 2024

MACLAREN MINERALS ANNOUNCES PRIVATE PLACEMENT OF COMMON SHARES

Not for distribution to United States newswire services or for dissemination in the United States.

Vancouver, British Columbia, July 24, 2024, Maclaren Minerals Ltd. (CSE:MRN) (the "Company") is pleased to announce a non-brokered private placement financing (the "Offering") of 5,159,786 common shares of the Company ("Common Shares") at a price of C$0.07 per Common Share for aggregate gross proceeds of C$361,185.02. The Common Shares sold pursuant to the Offering will be subject to a four-month hold period pursuant to securities laws in Canada.

The Company intends to use the net proceeds of the Offering for general working capital and corporate expenses.

The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals and the submission of all required forms to the Canadian Securities Exchange.

The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Maclaren Minerals

Maclaren Minerals Ltd. is engaged in mineral exploration and the acquisition of mineral assets. The Company's principal property is the Boer Property located in the Omineca Mining District in the Interior Plateau of British Columbia.

On behalf of the board of directors of the Company "Gary Musil"

Gary Musil Chief Executive Officer and Director

Maclaren Minerals Ltd. T: 604-787-7356 E: gmusil@outlook.com

Cautionary Statement Regarding Forward Looking Information

This news release contains forward looking information or statements within the meaning of applicable securities laws, which may include, without limitation, statements relating to the terms and completion of the Offering, the use of proceeds of the Offering, the receipt of regulatory and stock exchange approval in respect of the Offering, the technical, financial, and business prospects of the Company, its assets 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 information or statements. Although the Company believes the expectations expressed in such forward-looking information or 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 information or 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, the ability to achieve its goals, expected costs and timelines to achieve the Company's goals, that general business and economic conditions will not change in a material adverse manner, and that financing will be available if and when needed and on reasonable terms. Such forward looking information or statements reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties included in in documents filed under the Company's profile on SEDAR+ at www.sedarplus.ca. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic,

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competitive, and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking information or statements include, but are not limited to, the ability of the Company to complete the Offering on the terms described herein, including obtaining the requisite regulatory and stock exchange approvals, continued availability of capital and financing and general economic, market or business conditions, failure to compete effectively with competitors, failure to maintain or obtain all necessary permits, approvals and authorizations, failure to comply with applicable laws, including environmental laws, risks relating to unanticipated operational difficulties. The Company does not undertake to update forward looking statements or forward-looking information, except as required by law.

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