TEAKO MINERALS CORP. announced a strategic partnership with Capella Minerals Limited and has entered into an agreement dated July 12, 2023 to acquire a 50% interest in each of the Vaddas and Birtavarre projects located in northern Norway with the option to acquire a 100% interest in the Projects. The Projects being acquired embark on Teako's mission to expand their operations into Scandinavia in search of and to secure access to critical metals like Copper and Cobalt; metals that are imperative for the green and digital transition.

Capella is an arms' length party to Teako. The Projects held by Capella Minerals: Two separate Copper-Cobalt (High-grade Cu-Co-rich VMS deposits) projects "Vaddas" and "Birtavarre" that form the Vaddas-Birtavarre district - a past-producing Cu-Co-rich massive sulfide district in northern Norway. The terms of the Agreement: Teako will acquire a 50% interest in the Projects upon the issuance of 1,000,000 shares of the Company to Capella, with the option to acquire a 100% interest by: Investing CAD 100,000 in exploration expenditures into the Projects within the first year; and Issuing an additional 250,000 shares in both the first and second year to Capella.