Toronto, Ontario – TheNewswire – April 3, 2024 – Loyalist Exploration Limited (“Loyalist” or the “Company”) (CSE: PNGC) is pleased to announce the appointment of Errol Farr, CPA, CMA as President and CEO. Mr. Farr is a seasoned financial and mining professional with over 35 years of experience in financial management, operations, business optimization and strategy development. He is the former CFO of MagIndustries Inc., where he led its finance department and the development of its 68,000-hectare forestry operation. He is the former CEO of Adex Mining Inc., where he led the exploration and development plans at the Mount Pleasant, tin, indium, zinc, tungsten and molybdenum project, including the prefeasibility studies and metallurgical work. He is the former CFO of Anaconda Mining Inc., a gold producer in Newfoundland, Canada, which successfully operated an open pit mining operation during his 5 year tenure. He is currently Corporate Secretary of Spruce Ridge Resources Ltd., a mining exploration company with projects in Oregon and Newfoundland.

John O’Donnell will move from Interim CEO to Chairman of the Board of Directors.

Errol Farr stated that “I am pleased to receive this vote of confidence from the Board and key shareholders, I look forward to some exciting things to come”.

Commenting on the appointment, Steve Balch said “Errol will play a pivotal role in the restructuring of Loyalist as we look to secure an anchor property to move the Company forward”.

Commenting on the appointment, John O’Donnell said “ I have had the opportunity of working with Errol over the last few years, and have confidence that his extensive experience will be extremely beneficial to the Company as we move towards the next phase of our development”.

About Loyalist Exploration Limited

Loyalist Exploration Limited is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Canada. The Company's core values are respect for the Community, the Landowners, the environment and operating a safe workplace. The Company is also committed to best practice standards of Corporate Governance.

For further information please visit the Company's website at loyalistexp.ca or contact:

Loyalist Exploration Limited

Errol Farr, President and CEO

Email: efarr001@icloud.com

Tel: 647-296-1270

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release.

This news release contains "forward-looking information" (within the meaning of applicable Canadian securities laws) and "forward-looking statements" (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as "anticipate", "believe", "expect", "plan", "intend", "potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or statements regarding an outlook and include statements regarding the Company’s future plans and Errol Farr’s role in those plans.

Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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