Big Tree Receives Favourable Assessment Report on Generating Carbon Credits in the Ogoki Crown Forest

TORONTO, ON / ACCESSWIRE / September 27, 2023 / Big Tree Carbon Inc. (the "Company" or "Big Tree") (TSXV:BIGT) is pleased to announce that, further to its press release of June 6, 2023, R&B Cormier Inc. ("Cormier") has prepared two reports with an effective date of September 14, 2023 with the first entitled "Assessment for Generating Carbon Credits in Ontario's Ogoki Crown Forest" (the "Assessment Report") and the second entitled "Opportunities: Green Energy & Non-Timber Forest Products in Ontario's Ogoki Crown Forest" (the "Opportunities Report"). The Assessment Report provides an assessment of carbon sequestration potential of the Ogoki Crown Forest Management Unit for purposes of generating carbon offsets in both compliance and voluntary market scenarios.

Based on the author's goals of maximizing quality carbon credits and environmental stewardship in the long-term, the Assessment Report provides four possible scenarios for the development of carbon credits whereby the Ogoki Crown Forest Management Unit could generate between $6.6 million and $9.4 million per year in revenues based upon 2023 market prices for carbon credits. The Assessment Report recommends the following two scenarios, each taken from a conservative standpoint for estimation and cognizant of existing wood supply agreements:

1. Federal (ECCC) draft Improved Forest Management protocol ("IFM"):
   ~204,000 net Carbon Dioxide Equivalent credits ("CO2e") /year - Compliance market based upon an estimated selling price of $45.50/metric tonne("MT") (being a 30% discount from the current Canadian regulated price on carbon of $65/MT) for $9.3 million in revenue less expenses for a net of $8.5 million per year
2. Verra / Verified Carbon Standard ("VCS") Canadian IFM protocol:
   ~540,000 net CO2e credits/year - Voluntary market based on an estimated selling price of $15.00/MT for $8.1 million in revenue less expenses for a net of $7.3 million per year

Big Tree's wholly-owned subsidiary, Big Tree Carbon Corp., has partnered with Agoke Development Limited Partnership ("ADLP") to develop the carbon credit potential of the Ogoki Crown Forest. ADLP is a limited partnership managed by Agoke Development Corporation ("ADC"), the limited partners of which comprise the Aroland First Nation, the Eabametoong First Nation and the Marten Falls First Nation (collectively, the "ADLP First Nations") within whose traditional territories the Ogoki Crown Forest is located. The benefits derived by the ADLP First Nations from the monetization of the carbon credits, net of expenses, will be split as to 75% to ADLP and 25% to Big Tree for a 5-10 year term from the date the first emission reduction benefits available for sale are generated by the project (reference is made to the press release dated November 8, 2021).