DEMESNE RESOURCES LTD. ANNOUNCES CONSULTANT PAYMENTS THROUGH ISSUANCE OF SHARES

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Aug. 26, 2024 /CNW/ - Demesne Resources Ltd. (CSE: DEME) ("Demesne" or the "Company") announces that, further to its press releases dated August 22, 2023 and October 20, 2023, it has issued as compensation an aggregate of 230,000 common shares of the Company (the "Common Shares") to one consultant and one director. These payments have been made pursuant to certain consulting agreements that provide for payment in Common Shares for services rendered, payable on a quarterly basis.

ABOUT DEMESNE RESOURCES LTD.

Demesne Resources Ltd. is a British Columbia based company involved in the acquisition and exploration of magnetite mineral properties, with a focus on mineral properties located in British Columbia. The Company's sole property is the Star Project, consisting of five contiguous mineral titles covering an area of approximately 4,615.75 hectares located in the Skeena Mining Division, British Columbia, Canada. The Company has entered into an option agreement pursuant to which it is entitled to earn an undivided 100% interest in the Star Project.

FORWARD–LOOKING STATEMENTS

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.

Generally, such forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Forward-looking statements in this news release include statements with respect to the issuance of Common Shares, including the terms, timing and completion thereof.

Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, income tax and regulatory matters, the ability of the Company to execute its business strategies and risks associated with the Company's Common Shares trading on the Canadian Securities Exchange.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.

Although we believe that the assumptions inherent in the forward-looking statements are reasonable, there can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

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

SOURCE Demesne Resources Ltd.

For further information: Demesne Resources Ltd., Adam Virani, CEO, Corporate Secretary and Director, Email: [email protected]; Phone: [phone]