Barsele Minerals Corp. announced the amendment and further extension of its letter of intent dated May 10, 2021 (the "LOI") with Agnico Eagle Mines Limited ("AgnicoEagle"). The LOI sets out the basic terms and conditions for the Company to acquire Agnico Eagle's indirect 55% interest in the Barsele Project (the "ProposedTransaction"). The Company currently holds the remaining 45% interest in the Barsele Project, and upon completion of the Proposed Transaction would consolidate 100% control of the Barsele Project. The Company and Agnico Eagle are continuing to work toward completion of definitive agreements in respect of the Proposed Transaction and have agreed to extend the "Outside Date" of the LOI to October 31, 2021. Under the amended LOI, Barsele has agreed to continue a one-way exclusivity period for the Proposed Transaction until the Outside Date of the LOI. Additional details regarding the LOI and the Proposed Transaction are provided in the Company's press releases dated May 12, 2021, and August 3, 2021, which are available on the Company's SEDAR profile at www.sedar.com. The LOI is non-binding and there can be no assurance that the Proposed Transaction will be completed as proposed or at all.