NORTH PEAK REPORTS FILING OF TECHNICAL REPORT FOR KENOGAMI LAKE, ONTARIO PROJECT

CALGARY, AB, July 8, 2022 /CNW/ - North Peak Resources Ltd. (TSXV: NPR) (the "Company" or "North Peak") announces that it filed a 43-101 Technical Report for the Kenogami Lake Project (the "Kenogami Project") titled "Technical Report on the Kenogami Lake Project, Ontario, Canada Report for NI 43-101" dated effective March 15, 2022 (the "2022 Technical Report"), prepared by Tudorel Ciuculescu, M. Sc. P. Geo of SLR Consulting (Canada) Ltd., on SEDAR at www.sedar.com under the profile of the Company.

The Company holds an option to acquire a 100% interest in and to the Kenogami Lake Project (the "Kenogami Option"). The Kenogami Option was granted to the Company in connection with its "Change of Business" transaction that it completed on June 26, 2020.  Pursuant to that transaction the Company issued a Management Information Circular dated May 13, 2020 which included information and excerpts from the technical report on the Kenogami Project titled "Technical Report on the Leahy Property, Kirkland Lake Area, Ontario, Canada" dated effective March 31, 2020, (the "2020 Technical Report"), also prepared by prepared by Tudorel Ciuculescu, M. Sc. P. Geo of SLR Consulting (Canada) Ltd.

The material differences between the 2022 Technical Report and the 2020 Technical Report, and therefore effects the disclosure in the Circular, are as follows:

• the 2022 Technical Report recognizes the name change that the Company made in connection with the aforementioned "Change of Business" transaction;
• the 2022 Technical Report takes into account a more current site visit as completed by Mr. Ciuculescu on March 7, 2022; and
• the 2022 Technical Report includes the results of the single drill hole drilled by the Company on the Kenogami Project in 2021.

About North Peak Resources

The Company is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "NPR". The Company holds an option to acquire the 2,733-acre Black Horse gold and silver property located approximately 50 miles east of Ely within the Black Horse mining district in White Pine County, Nevada. See the Company's January 11, 2022 press release for additional information.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones, potential for minerals and/or mineral resources and statements regarding the plans, intentions, beliefs, and current expectations of the Company with respect to the future business activities and operating performance of the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.

By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended December 31, 2021, and the period ended March 31, 2022 available at www.sedar.com, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

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

SOURCE North Peak Resources Ltd.

Please contact: Brian Hinchcliffe, CEO, Phone: [phone], Email: [email protected], Website: www.northpeakresources.com; Chelsea Hayes, Director, Phone: [phone], Email: [email protected]