TUKTU RESOURCES LTD. ANNOUNCES CLOSING OF NATURAL GAS ASSET PURCHASE IN THE SOUTHERN ALBERTA FOOTHILLS AND DIRECTOR APPOINTMENT

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CALGARY, AB, April 17, 2023 /CNW/ - Tuktu Resources Ltd. ("Tuktu" or the "Company") (TSXV: TUK) is pleased to announce the closing of the acquisition of assets owned and operated by an arm's length public company in the southern Alberta Foothills (the "Assets"), as previously announced in a press release on March 21, 2023. As consideration for the Assets, Tuktu paid $2.25 million in cash prior to customary purchase price adjustments.

The Company is also pleased to announce the appointment of Kathleen Dixon, P.Geol, MBA to the Board of Directors. Ms. Dixon is a former Director with BMO Capital Markets in the Acquisitions and Divestitures group where she was part of over $20 billion in energy sector transactions during her 13 years tenure. Prior to BMO, she worked for 10 years as an area geologist for CNRL and Iteration Energy. In 2019, Kathleen had an opportunity to take a 3 month leave of absence to pursue her passion for politics and run as a candidate in Vancouver for the Conservative Party of Canada. After the election, she returned to BMO and completed her ICD.D designation. Kathleen currently sits on three private company and not-for-profit boards.

About Tuktu Resources Ltd.

Tuktu is an Alberta corporation whose common shares are currently listed on the TSXV under the trading symbol "TUK". For additional information about Tuktu please contact:

Tuktu Resources Ltd.
501, 888 – 4th Avenue S.W.
Calgary, Alberta T2P 0V2

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

All amounts in this press release are stated in Canadian dollars unless otherwise specified.

SOURCE Tuktu Resources Ltd.

Attention: Tim de Freitas, President and Chief Executive Officer (phone [phone]); or Mark Smith, CFO and VP Finance (phone [phone])