Increase in the Number of Options to Purchase Common Shares

THETFORD MINES, QC, Nov. 17, 2022 /CNW/ - At a regular meeting of the Board of Directors of Mazarin Inc. (the "Corporation") held on November 17, 2022 in Thetford Mines, Quebec, the number of shares reserved under the Corporation's Stock Option Plan has been increased from 3,927,500 to 4,780,000, and other amendments were made to comply with the updated Policy 4.4 of TSXV, including that disinterested shareholder approval is required for any extension to the term of insider options. Stock options granted under the Stock Option Plan vest over a period of four years and are valid for a period of five years.

Mazarin Inc. is a natural resource company who focuses in on the development of industrial minerals in order to provide value-added products that meet the criteria of customers worldwide with regard to performance and economic and ecological concerns. Mazarin's shares trade on the NEX under the stock symbol MAZ.H.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Corporation's control. These factors include: general market and industry conditions, risks related to commissioning, to continuous operations and to commercialization of new technologies and other risks disclosed in the Corporation's filings with Canadian Securities Administrators.

Forward-looking statements are based on the expectations and opinions of the Corporation's management as of the date of this press release. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Mazarin Inc.

John LeBoutillier, Chairman of the Board, Tel. (office): [phone], Email: [email protected]