Till Capital : Announces Results of Annual General Meeting and Provides Update on Sale of Omega and Springer

NEWS RELEASE

TSXV: TIL

December 15, 2022

NR 22-10

www.tillcap.com

TILL CAPITAL ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING

AND PROVIDES UPDATE ON SALE OF OMEGA AND SPRINGER

British Columbia, Canada, December 15, 2022: Till Capital Corporation (TSXV: TIL) ("Till"), is pleased to announce the results of its Annual General Meeting ("AGM") held on December 15, 2022.

A total of 1,719,397 shares were voted representing 53.875% of the issued and outstanding shares of the Company.

Shareholders passed all resolutions set out in the Till Capital Corporation Management Information Circular dated November 2, 2022, including the election of directors, setting the number of directors at five (5), the re-appointment of PricewaterhouseCoopers LLP as Till's auditors, and the approval of Till's stock option plan as required annually by the TSX Venture Exchange.

Shareholders voted for the election of all five director nominees as follows:

Nominee	Votes for	Votes withheld	Percent for	Percent withheld
Robert Forness	1,097,887	313,036	77.81%	22.19%
Brian P. Lupien	1,410,604	319	99.98%	0.02%
Scott D. McLeod	1,407,904	3,019	99.79%	0.21%
John T. Rickard	685,360	727,684	48.50%	51.50%
James G. Rickards	1,297,239	113,684	91.94%	8.06%

Following the AGM, the board of directors appointed Brian Lupien as Chief Executive Officer, Weiying "Mary" Zhu as Chief Financial Officer, and Edie Nemri as Corporate Secretary.

Omega Update

Omega Insurance Holdings, Inc. ("Omega") is a fully licensed Toronto, Canada based insurance provider, and includes its subsidiaries, Omega General Insurance Company and Focus Group, Inc. In June 2021, Accelerant Holdings agreed to pay Till an aggregate purchase price of 1.15 times the book value of Omega as of closing, or approximately Cdn$13,126,000 as of September 30, 2022, in exchange for all of the issued

and outstanding shares of Omega. The parties require various regulatory approvals including the approval of Canada's Office of the Superintendent of Financial Institutions ("OSFI") prior to closing, and presently anticipate those approvals will be received before the end of the first quarter of 2023. Shareholder approval may be required for the sale of Omega under the policies of the TSX Venture Exchange.

Springer Update

Till is negotiating a Share Purchase Agreement with a private company for the sale of Till's 100% ownership in Springer Mining Company ("Springer") which owns the Springer Tungsten Mine & Mill near Winnemucca, Nevada. Negotiations on the terms of a potential agreement are ongoing, and Till will provide an update if a binding agreement for the sale of Springer is reached. Shareholder approval may be required for the sale of Springer under the policies of the TSX Venture Exchange.

Reported by:

Brian P. Lupien

Chief Executive Officer

Till Capital Corporation

Till Capital Corporation, through its wholly owned U.S. subsidiaries, owns the Springer Tungsten Mine & Mill near Winnemucca, Nevada and 755,913 common shares of Osisko Development Corp. (TSXV: ODV). Till is also a partial owner of IG Tintic LLC, a private company which owns a 1% net smelter return royalty on the East Tintic Mining District near Eureka, Utah, and of IG Far East LLC, a private company with the controlling interest in a joint venture that owns the Durmin gold property in the Russian Far East. Till Capital Corporation is also the majority shareholder of Silver Predator Corp. (TSXV: SPD) and owns various mineral royalties.

Till Capital Corporation is also the parent company of wholly owned subsidiary Omega Insurance Holdings Inc. which owns Omega General Insurance Company, a Canadian insurance company offering innovative and customized insurance industry solutions, including fronting and run-off services for insurers/reinsurers, within the Canadian marketplace. Omega Insurance Holdings Inc. also operates Focus Group Inc., a consulting and project management company servicing the local and international needs of its Property Casualty Insurance clients.

For additional information:

Till Capital Corporation [e-mail]

Cautionary Note

At this time, Till has no current plans to provide earnings guidance due to the volatility of investment returns.

The Till Capital shares are restricted voting shares, whereby no single shareholder of Till Capital is able to exercise voting rights for more than 9.9% of the voting rights of the total issued and outstanding Till Capital shares (the "9.9% Restriction"). However, if any one shareholder of Till Capital beneficially owns, or exercises control or direction over, more than 50% of the issued and outstanding Till Capital shares, the 9.9% Restriction will cease to apply to the Till Capital shares.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities of Till Capital or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Trading in the securities of Till Capital should be considered speculative.

Cautionary Statement Regarding Forward Looking Information

Certain statements in this release are forward-looking statements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Till will obtain from them. In particular, Till cautions that the completion of the proposed transactions cannot be predicted with certainty, and that there can be no assurance at this time that the proposed transactions will be completed in the manner noted above or at all. These forward-looking statements reflect management's current views and are based on certain expectations, estimates, and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause Till's actual results to differ materially from those expressed or implied by the forward-looking statements, as well as other factors beyond Till's control. Till does not undertake to update any forward- looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.