Stuhini Exploration Ltd. announced a pit-constrained Mineral Resource Estimate (MRE), for the Ruby Creek molybdenum deposit (Ruby Creek Molybdenum Deposit), located 35 kilometres (km) by road east of Atlin, BC. The MRE was undertaken by Mine Development Associates (MDA), a division of RESPEC. The effective date of this MRE is March 10, 2022 and an NI 43-101 Technical Report (the Technical Report) will be filed on SEDAR within 45 days of this news release and posted on the Company's website.

Open Pit Resource Estimate: The pit constrained Measured and Indicated resources contain 432,991,000 pounds (lbs) of molybdenum (Mo) hosted within 369,398,000 tonnes at an average Mo grade of 0.053 % at 0.020 % Mo cutoff. Resources within the Inferred category include 43,650,000 lbs of Mo hosted within 41,946,000 tonnes at an average Mo grade of 0.047 %. Ruby Creek Mineral Resource Estimate Notes: The mineral resources disclosed in this press release were estimated following the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards - For Mineral Resources and Mineral Reserves prepared by the CIM Standing Committee on Reserve Definitions adopted May 10, 2014.

Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources estimated will be converted into mineral reserves. The number of metric tonnes and pounds were rounded to the nearest thousand.

Any discrepancies in the totals are due to rounding effects. As defined by NI 43-101, the Independent and Qualified Persons for the Technical Report are Steven Ristorcelli, C. P. G., Peter Ronning, P. Eng., Finley Bakker, P. Geo., and John Eggert, P. Eng. Reasonable prospects for eventual economic extraction were determined by applying open-pit mining and operating parameters in pit optimization to build a resource-constraining pit.

This MRE was derived from a database containing 305 diamond drill holes, four rotary holes, plus underground bulk samples entered as 17 "drill holes". The Effective Date of the Ruby Creek database used in the MRE is January 27, 2020. Mo price used for the resource pit was USD 15/lb Mo.

Estimated operating costs used in the MRE (in USD) were $2.00/tonne for mining, $1.00/tonne for G&A, $5.00/tonne for processing and a roasting charge of $1.77/kilogram (kg) of Mo. Metallurgical recoveries of 92% were utilized in the determination of cut-off grades for the open-pit resource. The resource is reported at a cutoff of 0.02% Mo.

Cut-off calculations were based on metallurgical recoveries, operating costs for mining and processing, and metal prices described above. Tonnage was estimated from volumes using specific gravities ranging from 2.57 to 2.60 for different igneous lithologies. The geologic models and 3D block model were created in HxGN MinePlan by Steven Ristorcelli, C. P. G., an associate of MDA, and Finley J. Bakker, P. Geo., of Finley Bakker Consulting.

The database auditing and quality assurance/quality control (QA/QC) was conducted by Peter Ronning, P. Eng. The review of the historic metallurgical work was conducted by John Eggert, P. Eng. A rotated block model with block sizes of 10 m by 10 m by 10 m was used.

The block dimensions were chosen to best reflect potential block sizes for open-pit mining. Inverse distance cubed (ID3) was used for estimation. The deposit was divided into three estimation domains with unique orientations: (1) a main mineralized horizontal domain; (2) a steeply northwest dipping domain along the Adera fault zone and (3) shallow dipping in the footwall of the Adera fault zone.

The drill samples were coded by domain and were capped to different grades depending on the domain. The main mineralized horizontal domain samples were capped to 0.90% Mo. The steeply northwest dipping domain along the Adera fault zone and the shallow dipping footwall zone was capped to 1.5% Mo.

Along the southwest end of the deposit where drilling is spaced widely, grades were capped to 0.4% Mo in four holes. The mineral resources estimate was done in two passes. A quadrant search with a maximum of two composites per quadrant was used in the domains because of significantly clustered data.

Volumes outside the domains were estimated in a single pass.