Canadian North Resources Inc. announced it has completed 21,126.50 meter drilling at its 100% owned Ferguson Lake base metal (nickel, copper, cobalt) and platinum group metal (?PGM?, mainly palladium and platinum) project in Nunavut, Canada. The diamond drilling program consisting of 20,000 was planned for 2023 to focus on definition drilling of the East and West Zones, and to test extensions of the main and satellite mineralized horizons. The Company successfully completed the program totalling 21,126.50 meters in 78 holes defining and/or upgrading potential volumes of mineral resources along strike to the west extension from the West Zone, the east extension from the East Zone and the extensions of both East and West Zones across Ferguson Lake, and testing satellite mineralized horizons named the M-Zone, Anomaly-51 Zone and its east extension.

During 2023 the Company conducted the reprocessing and modelling of historic geophysical electromagnetic UTEM, VTEM, borehole TDEM survey data which aided in the drill targeting during the summer program, as well as successfully completing new borehole TDEM surveys on selected deep drillholes. In addition, surface sampling was completed on selected outcrop on the project site. The assay results for the first 21 holes drilled in the spring 2023 across Ferguson Lake were reported by the Company in its July 18, 2023, news release.

These holes intersected near surface massive sulfides, e.g, 10.0m (from 47.57 ? 57.57m in Hole FL23-504A) at 0.89% Cu, 0.53% Ni, 0.08% Co, 1.05g/t Pd, 0.12g/t Pt and 0.02 g/t Rh, and extended or defined the mineralized zones for 2,700 meters along strike. During this summer program 3,253 core samples have been collected from the 57 holes completed, which have been submitted for analyses with results pending.

Most of the holes were drilled between 100-275 meters deep to test targets of near surface mineralization. Selected holes were drilled to up to 1,000 metres downhole, to test thickened mineralized gabbro sections of up to 500 metres widths within the west and down-dip extensions of the West Zone. These mineralized zones are still open along strike and at dip.

These together with the other mineralized zones such as West Zone South and South Discovery Zone as well as regional targets will be further tested next year. Once all the program results are received and compiled, they will be added to the project dataset to improve the block deposit model and to update the filed 2022 Ferguson Lake Mineral Resource estimate (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).

The technical contents of this news release have been reviewed by Dr. Trevor Boyd, P.Geo., a qualified person as defined by Canadian National Instrument 43-101 standards.