Exploits Confirms Gold Mineralization at Bullseye “West” and Extends High-Grade Zone at Depth at Horseshoe

Toronto, Ontario–(Newsfile Corp. – February 4, 2025) – Exploits Discovery Corp. (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634) (“Exploits” or the “Company”) is pleased to report its gold assay results from its recent diamond drilling campaign focused on the western flank of the Appleton Fault Zone (“AFZ”) on its Bullseye property. The Company has received the latest assay data from its first six drill holes. Drill hole #25, north of New Found Gold Corp.’s (“NFG”) K2 gold zone discovery, confirmed the presence of gold bearing structures on the west side of the interpreted Glenwood Shear. In addition, the Company is pleased to announce that it has extended the high-grade zone at its Horseshoe gold discovery. Drill hole #30 revealed a gold intercept of 25.36 g/t Au over 1.60 metres from localized veining containing visible gold (VG) at a vertical depth of approximately 260 metres below surface, deeper than the previously announced Horseshoe gold zone.

Highlights Include:

Drill holes BE-24-025 to 029 were designed to test mineralization associated with the Glenwood Shear, as well as other lower order structures that splay from the AFZ, on the western side of the Bullseye propertyDrill hole BE-24-030 was designed to test a portion of the western side of the AFZ as well as extend deeper below the Horseshoe ZoneThe first-pass targeted drilling on the western side of the Bullseye property helped to confirm the association of gold mineralization with faults splaying from the interpreted extension of the Glenwood Shear The drill results from BE-24-030 helped to extend the high-grade mineralization deeper, below the initial discovery at the Horseshoe Zone in 2023BE-24-025:Intersected 1.24 g/t Au over 1.70 m core-length, located at a vertical depth of approximately 210 m below surfaceIncluding 3.15 g/t Au / 0.50 mIntersected 1.26 g/t Au over 2.40 m core-length, located at a vertical depth of approximately 238 m below surfaceIncluding 3.29 g/t Au / 0.50 m BE-24-028:Intersected 2.67 g/t Au over 1.20 m core-length, located at a vertical depth of approximately 65 m below surfaceIncluding 4.15 g/t Au / 0.65 mBE-24-030:Intersected 1.95 g/t Au over 0.90 m core-length, located at a vertical depth of approximately 147 m below surfaceIntersected 1.84 g/t Au over 1.00 m core-length, located at a vertical depth of approximately 149 m below surfaceIntersected 25.36 g/t Au over 1.60 m core-length, located at a vertical depth of approximately 260 m below surfaceIncluding 20.86 g/t Au / 0.45 mIncluding 49.59 g/t Au / 0.60 mGold assays remain pending from five drill holes specifically designed to follow up on Horseshoe (2023) and Saddle (2024) mineralized zones located on the eastern side of the Bullseye property

Jeff Swinoga, President and CEO, commented, “We are pleased with these new drill results. Not only do the gold assays demonstrate that there is gold mineralization on Bullseye’s west side of the AFZ, but our team was also able to show that the previous high grade gold results at our Horseshoe gold discovery extend at depth with a gold intercept of 25.36 g/t over 1.60 metres. The next set of assay results will be from our follow-up drilling into our Horseshoe and Saddle gold zones, on the eastern side of the Bullseye claims, where we previously announced gold intercepts such as 67.55 g/t over 3.30 metres.”

Jeff further commented, “In addition, we plan on announcing the latest results of our 2024 extensive till sampling program on our large Gazeebow South property this quarter. As at today’s date, the Company has approximately $5 million in cash and is well positioned for 2025 with a strategic land position and supportive shareholders, including Eric Sprott.”

Table 1: Select drill core assays.

2024 Bullseye Drilling – Selected AssaysHole IDFrom (m)To (m)Length
(m)Vertical
Depth
(m)Analysis TypeAu Assay (ppb)*Au
Assay
(g/t)Au – Weighted Average Grade
(g/t )*Notes
BE-24-025303.50305.201.70~210mFA1,240.001.241.24 g/t Au / 1.70m
Inc304.10304.600.503,149.003.15
AND337.00337.800.80~235mFA552.000.55

AND340.60343.002.40~238mFA663.000.661.26 g/t Au / 2.40m
Inc340.95341.450.503,291.003.29
AND344.85346.501.65~240mFA1,330.001.331.33 g/t Au / 1.65m
Inc344.85345.700.851,601.001.60

BE-24-02658.8060.201.40~60mFA525.000.53

BE-24-02757.6558.100.45~50mFA463.000.46

BE-24-02894.4095.601.20~65mMET2,670.002.672.67 g/t Au / 1.20m
Inc94.4095.050.654,151.004.15VG Noted
BE-24-029117.40117.900.50~100mFA1,283.001.28

AND119.05119.650.60~102mFA537.000.54

AND166.00167.251.25~140mFA531.000.53

AND170.00170.750.75~143mFA571.000.57

BE-24-030200.10201.000.90~147mFA1,949.001.95

AND203.00204.001.00~149mFA1,841.001.84

AND287.50288.200.70~198mMET613.000.61

AND326.40327.050.65~225mFA1,123.001.12

AND371.40373.001.60~254mFA960.000.960.96 g/t Au / 1.60m
Inc371.40372.250.851,386.001.39
AND381.45383.051.60~260mMET25,630.0025.3625.36 g/t Au / 1.60m
Inc382.00382.450.4520,855.0020.86
Inc382.45383.050.6049,589.0049.59VG Noted

*Assays reported direct from lab certificate. Screen-Met samples are ‘Weighted Averaged ppb’ as calculated from lab**All intersections are core intervals and do not represent true thickness

Table 2: Drill collar data.

Bullseye – Collar Information for Reported Drill Holes
Hole IDEastingNorthingElevation (m)AzimuthDipLength (m)BE-24-025659017543025266340-45351BE-24-026659010543025666318-60170BE-24-027659463543076042320-45280BE-24-028659454543090943320-45250BE-24-029659454543090943320-60202BE-24-030659354543093639120-45400
Coordinates Reported in NAD-83

Bullseye Gold Property

The Bullseye claims were staked by Exploits in September 2022 and are contiguous to NFG’s Queensway and Kingsway projects. The Company considers these to be highly prospective because geological interpretation shows they directly overlay a 1,200 by 800 metre segment of the AFZ and its related splay structures.

Quality Assurance – Quality Control (“QA/QC”)

All prospective NQ core is logged and delineated for sampling by an Exploits’ professional geologist. The core is subsequently halved by a diamond-bladed core saw by the Company’s technicians with one half being placed in a bag with a unique sample identification. The remaining half core is retained within the Company’s secure storage facility in Gander, NL. Sample bags are sealed and then shipped directly to Eastern Analytical Ltd. Certified standards and blanks are inserted at defined intervals following the Company’s QA/QC documented procedures, representing approximately 5% of all samples sent for assaying. All core samples are currently analyzed at Eastern Analytical Ltd. of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits. Samples are analyzed using fire assay (30g) with AA finish (Au-FAA 30 ppb process) and/or a four-acid digestion followed by multi-element ICP-OES analysis. All samples with visible gold or assaying above 10.0 g/t Au are further assayed using metallic screen to mitigate the presence of the nugget effect of coarse gold. Metallic screen assays are reported as ‘Weighted Averaged ppb’ directly calculated from the lab.

National Instrument 43-101 Disclosure

Ken Tylee, P.Geo., VP of Exploration with Exploits, is a qualified person within the Provinces of Ontario and Newfoundland and Labrador as defined by NI 43-101 standards. Mr. Tylee has reviewed and approved the technical information presented herein.

About Exploits Discovery Corp.

Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. Exploits is utilizing its experienced, talented team and geologic understanding with the vision to become one of the most successful explorers in Canada.

On Behalf of the Board

/s/ “Jeff Swinoga”
President and CEO

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Acknowledgments

Exploits Discovery would like to acknowledge the financial support of the Junior Exploration Assistance Program from the Department of Natural Resources, Government of Newfoundland and Labrador.

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