Archer Exploration Corp. announced the results of its Summer 2023 field program at the Gargoyle Ni-Cu-Co project in the Lumby Lake Greenstone Belt, located approximately 55 kilometres northeast of Atikokan, Ontario. Highlights.

The Gargoyle property hosts a 10 kilometre long succession of favourable ultramafic rocks hosting numerous untested conductors. Ni-Cu-Co sulphide mineralization has been traced across intermittent outcrops over a 1 kilometre strike length. Four well-mineralized samples collected from two outcrops, contained anomalous nickel concentrations ranging from 0.54% to 0.76% Ni.

Memorandum of Understanding completed with Lac des Mille Lacs First Nations. The Gargoyle Ni- Cu-Co project consists of three separate claim blocks (Gargoyle, Goblin and Ghost properties) that together comprise 719 mineral claims totaling 15,216 hectares. The Gargoyle property is host to a 10 kilometre long successionof ultramafic rocks hosting multiple airborne conductors, none of which have been drill tested.

Significant Ni-Cu-Co sulphides mineralization has been traced across continuous outcrops for an approximately 1 kilometre strike length. The Gargoyle, Goblin and Ghost properties are situated within the Archean age Lumby Lake Greenstone Belt. The Archean age Lumby LakeGreenstone Belt, approximately 90 kilometres from the former Shebandowan mine, which produced 9.29 million tons at 1.75% Ni, 0.88% Cu, 0.063% Co and 1.83 g/t PGE's. The geology is comprised of mafic metavolcanics with lesser mafic/ultramafic intrusions, high-MgO komatiitic flows and subvolcanic intrusions, felsic plutons, and chemical and clastic meta-sedimentary rocks.

The komatiitic volcanic succession contain common interflow, sulphide-bearing sedimentary units, which are an ideal sulphur source for the local formation of nickel sulphide mineralization within the adjacent komatiites. Previous work identified disseminated magmatic Ni-Cu-Co sulphIDE mineralization on the Gargoyle property, hosted by prospective ultramafic rocks that have a marked accumulation in the area. Memorandum of Understanding with Lac des Mille Lac Lacs First Nations.

Archer would also like to recognize that the Gargoyle, Goblin and Ghost property are part of the traditional territories of the Lac des Mille Lacs first Nations. The LDMLFN holds and exercises aboriginal and treaty rights to and over their traditional territories. Archer announced that the Company has entered into a Memorandum of Understanding (the "MOU") with the LDMLFN whereby Archer recognizes and agrees to respect the aboriginal and treaty rights of the LDMLFN while engaged in all exploration activities within LDMLFM traditional territories.

Archer and the LDMLFN both believe that effective communication, and the LDMLFN both believes that effective communication, and theLDMLFN has been traced across intermittent out Crops for an approximately 1 kilometers strike length.