Mentor Capital Gains 390% During Move to Uranium, Coal, Oil and Gas

Exxon, Chevron, Occidental, Arch, and Cameco are First in Energy Index

Mentor Capital, Inc. (OTCQB: MNTR) announced it completed its move into the classic energy sector on November 2, 2023, with the majority of the Company’s non-cash assets, as planned, now springing from uranium, coal, oil and gas related royalties, companies, or projects. Mentor specifically initiated this shift of its planned focus into the classic energy sector on May 24, 2023, with the first of paced energy stock purchases in a newly created Mentor Classic Energy Index. During the approximately five months since its creation, through to November 2nd, the Mentor Classic Energy Index has appreciated 10.2%. During that same five-month period, the Mentor Capital, Inc. closing share price increased 390%, with the closing share price gain continuing at 67.8% during the latest one-month period of October 2023.

The major components of the Mentor Classic Energy Index currently include Exxon Mobil Corporation and Chevron Corporation who have recently made major respective purchases in Pioneer Natural Resources for $59.5 billion and Hess for $53 billion; Occidental Petroleum Corporation in which Warren Buffet’s Berkshire Hathaway increased its 25% investment to $12.7 billion; Cameco Corporation, a uranium company that just announced a purchase of 49% of Westinghouse for $4.1 billion; and Arch Resources, Inc. a $2.8 billion coal company whose share price increased 28.9% across the recent five-month period during which the Mentor Classic Energy Index was being initiated and funded.

The Mentor Classic Energy Index is a proprietary tracking index. It is being used by Mentor for marketing purposes to reflect the general state of the classic energy market. It is not open to separate outside investment. While the index shares are a significant overall component of Mentor Capital, Inc. value, the Company has always been an operating company with the majority of its assets comprised of operating entities. The Mentor board has recently reaffirmed its commitment to being an operating company concentrating in the uranium, coal, oil and gas businesses.

The Mentor Capital, Inc. founder and CEO is Chet Billingsley whose education and career have embraced a broad swath of energy technologies, including: nuclear engineering, fusion, oil and gas partnerships, coal gasification, liquified natural gas, solar systems, hydrogen power, geothermal, pumped hydro, and tidal power. Mr. Billingsley observes about Mentor, “Energy touches everything we do, move or make. To provide a better future for us all, the stewards of the assets of society, the men and women of business, must continually try to accomplish these things better and more efficiently. Many of us from the sciences, the keepers of the numbers, can calculate that fossil fuels and nuclear are the better and more cost-efficient source for that energy we all use for the better life we seek. For those investors that agree with this philosophy, Mentor Capital is structured to be a pure play in the oil, natural gas, coal, uranium, and related businesses for them.”

In preparation for the move to the energy sector, in 2023, Mentor sold 93% of its non-energy legacy assets. For clarity, substantially all legacy cannabis-related interests were sold in 2022, and Mentor has no remaining cannabis involvement or exposure. Until also divested, Mentor will continue to collect on its residual AI and annuity-like positions that are now a minority of the Company’s assets.

This press release is neither an offer to sell nor a solicitation of offers to purchase securities.

Forward-Looking Statements: This press release contains forward-looking statements within the meaning of federal securities laws, including statements concerning financial projections, financing activities, corporate combinations, product development activities, and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance and are sometimes identified by words of condition such as "should," "could," "expects," "may," "intends," "seeks," "looks," "moves," or "plans" and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results or direction to differ materially from those intended or anticipated. Such risks include, without limitation: nonperformance of investments, partner and portfolio difficulties, potential delays in marketing and sales, problems securing additional financing, the potential of competitive products, services, and technologies, difficulties experienced in product development, in recruiting and retaining knowledgeable and key personnel, in protecting intellectual property, and the effects of adverse worldwide economic events, such as the coronavirus recovery, government regulations, ESG challenges, energy prices, and inflation. Further information concerning these, and other risks is included in the Company's Form 10-Q and Form 10-K filings, which, along with additional very important details on the Company, can be found here: https://ir.mentorcapital.com/all-sec-filings

The Company undertakes no obligation to update or revise such forward-looking statements to reflect new information, events, or circumstances occurring after the date of this press release.

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