Corcel Exploration Inc. announced that it has commenced its 2022 exploration field season at its Peak Mineral Property located near Port Alberni, British Columbia, Canada The field program, which will include soil and silt sampling, was designed following the completion of a comprehensive historical data compilation and modelling program, as announced by the Company on December 21, 2021. The abundant historical results at the Peak Property will be augmented with the results from the ongoing fieldwork, which is expected to take several weeks to complete. 2022 Exploration Program: Soil Sampling: A high-resolution soil sampling survey is planned which includes five individual grids centered over multiple high-priority exploration targets on the Property.

Each grid will include 25 metre-spaced samples collected along 25 metre-spaced lines, for a total of approximately 800 samples across the entire Property. The survey represents the most robust and highest resolution geochemical survey ever completed on the Peak Property. The five grids are designed to provide coverage over multiple historical BC MINFILE locations on the Property, including: CM-240 (MINFILE 092F 606), High Grade (MINFILE 092F 143), Peak Lake (MINFILE 092F 564), and Emma 20 (MINFILE 092F 607).

These locations cover several gold-in-soil anomalies identified previously during a soil sampling program completed in 1987 by Au Resources Ltd. Silt Sediment Survey: A silt sampling survey is also planned in tandem with the soil sampling program which will include at least 30 samples collected from drainages found within areas on the Property that have received minimal work historically. New Staking: Corcel is also pleased to report that it has cost-effectively expanded the Property by staking the Spring (MINFILE 092F 552) and Monkey (MINFILE 092F 544) locations contiguous with the Property.