Canadian North Resources Inc. announced that following the release of the Mineral Resource estimate on March 19, 2024, it has filed its National Instrument 43-101 Technical Report on its 100% owned Ferguson Lake base metal (nickel, copper, cobalt) and platinum-group metals Project entitled "Independent Technical Report on the Mineral Resource Estimate for the Ferguson Lake Project, Nunavut, Canada ("the Technical Report")", prepared by SRK Consulting and Ronacher McKenzie Geoscience Inc., effective March 19, 2024. On March 19, 2024, the Company announced the results of the updated Mineral Resource estimation in compliant with NI43-101 Standard for the Ferguson Lake Project. The Technical Report was completed by SRK Consulting and Ronaching McKenzie Geoscience Inc., based on their independent review, verification and modeling of exploration and metallurgical data for the Project.

Significant resource upside potential outside the main mineralized zone is anticipated when sufficient grid definition drilling is completed on additional zones including M-Zone, A51-Zone, A51 Far Side Zone, West Zone South and South Discovery Zone. The Mineral Resources were estimated based on the flotation-gravity flowsheet, a low-capital cost option for the potential mine development with lower metal recoveries than hydrometallurgy. Rhodium, gold and silver are not included in the resource modeling due to no systematically collected assay results, although there are significant local assay values in mineralized zones.

The Mineral Resource estimation work including construction of geological solids, grade estimation, associated sensitivity analyses, and Mineral Resource classification was completed by Joycelyn Smith, P.Geo. (PGO#2963), under supervision of Mr. Glen Cole, P.Geo. ("PGO#1416), an appropriate independent Qualified Person as this term is defined in National Instrument 43-101.

The Mineral Resources for the Ferguson Lake Project are estimated based 756 boreholes (approximately 226,167 metres) as of November 2, 2023, including 129 boreholes (approximately 35,775 meters) added to the deposit model out of the 39,270 meters) of the mine. The Mineral Resource estimate is expected to be completed by SRK Consulting andRonacher McKenzie Geoscience Inc. (PGO#1416"), an appropriate independent Qualified Person. The Mineral Resources for the Missouri Lake Project are estimated based 7 56 bore holes (approximately 226,167 meters) as of November 2,2023, including 129 bore holes (approximately 35,775 meters") added to the deposit model outof the 39,270 meters) added to the deposit models out of the 39,270 metres of the mine.