Dear Shareholders,

As we wrap up 2024, I am pleased to share the remarkable progress Exploits Discovery has made this year. Thanks to the dedication of our team and the unwavering support of our shareholders, we have achieved significant milestones that pave the way for an exciting 2025.

2024 Highlights

Exploration Success:

In 2024, we successfully completed two drill programs (Phases 2 and 3) on our Bullseye property, totaling 24 drill holes and 5,560 metres. These efforts led to the exciting discovery of the Saddle gold zone, highlighted by an impressive intercept of 67.55 g/t gold over 3.30 metres. This marks the second gold zone identified on our Bullseye property since we staked it two years ago.

As a reminder, Bullseye is a significant property due to its strategic location between New Found Gold Corp.’s Queensway North and its recently-acquired Kingsway claims, covering a 1.2-kilometre section of the Appleton Fault Zone (“AFZ”). Within this segment, we have identified two promising clusters of strongly veined and mineralized zones at the Horseshoe and Saddle targets, with multiple occurrences of fine visible gold reported.

On November 19, we commenced our new Phase 4, 2,500 metre, drill program focused on the western flank of Bullseye and follow-up drilling at the Saddle gold zone discovery. To ensure the highest standards of exploration, we have engaged Major Drilling Group International Inc., one of the world’s leading drilling services companies, to execute this program with our local team.

Prospecting efforts and localized mapping continued throughout the summer at the Company’s Dog Bay claims and Mt. Peyton property, focusing in areas proximal to previously identified anomalous gold rock and soil samples.

Looking Ahead to 2025:

In early 2025, we expect to announce:

• Our Phase 4 drill results on our Bullseye property, testing the western flank of the AFZ and follow-up drilling around the Saddle Zone where Exploits’ previous drilling generated encouraging intercepts such as 67.55 g/t Au over 3.30 m core length within hole BE-24-015 (see July 15, 2024 news release).
• The results from over 100 till samples collected over the summer and fall on the west-central block of our large Gazeebow South property to further refine our previous till program. The three previously announced areas (Sept. 28, 2023) along the AFZ continued to show elevated gold grain counts, reaching up to 14 times greater than the area’s background levels. This extensive property is located approximately 20 kilometres north of Gander in central Newfoundland and sits approximately 17 kilometres northeast of NFG’s Keats and Iceberg high-grade gold discoveries.

2024 has been an important year for Exploits Discovery, and I am immensely grateful for the trust and support of our shareholders, our community and the commitment of our all-local team.

On behalf of our entire team, I wish you a prosperous New Year. Together, we look forward to an exciting 2025!

Best regards,

Jeff Swinoga
President & CEO
Exploits Discovery Corp.