Canadian North Resources Inc. Reports Results of Borehole Geophysical Surveys Indicating Extensions of Deep Nickel-Copper-PGM Sulfide Zones at the Ferguson Lake Project - Seite 2

BHTEM surveys were completed on both these holes during the late summer of 2023 while the drilling program was operational. The surveys were especially configured to focus on the measurement of lateral and down-dip electromagnetic anomalies minimizing signal interference from the known up-dip main mineralized horizon.

Processed results indicated multiple significant electromagnetic conductors in the holes. Based upon initial interpretations, highly conductive electromagnetic responses were found associated with the first two sulphidic intersections for both holes which were found to decay to off-hole anomalies at late time-domains generating vectors to multiple centres of greater conductivity off-hole.

The Company also announces the retirement of Dr. Trevor Boyd as Vice President Exploration, dated December 31, 2023. The Management and Board of Directors of CNRI thank Trevor for his excellent service to the Company for 10 years and extend their best wishes to Trevor for the future. Dr. Boyd will continue serving the Company as a Technical Advisor and a Qualified Person.

Qualified Person:

The technical contents of this News Release have been reviewed and approved by Dr. Trevor Boyd, P.Geo., a Qualified Person as defined by Canadian National Instrument 43-101 standards.

About Canadian North Resources Inc.:

Canadian North Resources Inc. is an exploration and development company focusing on the critical metals for the clean-energy, electric vehicles, battery and high-tech industries. The company is advancing its 100% owned Ferguson Lake nickel, copper, cobalt, palladium, and platinum project that covers an area of 253.8 km² of mining leases (96.9 km²) and surrounding exploration claims (156.9 km²) in the Kivalliq Region of Nunavut, Canada.

The Ferguson Lake mining property contains a substantial N.I. 43-101 compliant Mineral Resource Estimate, which include Indicated Mineral Resources of 24.3 million tonnes containing 455 million pounds (Mlb) copper at 0.85%, 321Mlb nickel at 0.60%, 37.5Mlb cobalt at 0.07%, 1.08 million ounces (Moz) palladium at 1.38gpt and 0.18Moz platinum at 0.23gpt; Inferred Mineral Resources of 47.2 million tonnes containing 947Mlb copper at 0.91%, 551.5Mlb nickel at 0.53%, 62.4Mlb cobalt at 0.06%, 2.12Moz palladium at 1.4gpt and 0.38Moz platinum at 0.25gpt. The resource model indicates significant potential for resource expansion along strike and at depth over the 15 km long mineralized belt. (Refer to “Independent Technical Report, Updated Mineral Resource Estimate, Ferguson Lake Project, Nunavut, Canada, Prepared by Ronacher McKenzie Geoscience Inc. and Francis Minerals Ltd ” filed by the Company to Sedar.com on July 13, 2022).