Goldstorm Metals Corp. reported that the 2023 diamond drill exploration program (the "Program") has been successfully completed on its 100% owned Electrum gold and silver property (the "Property"), located within the Golden Triangle region of British Columbia, Canada. Included in this release are the assay results from the first two drill holes.

The Property is located north of, and adjacent to, Scottie Resources' claims, and along a well-defined trend of former gold-silver producers that includes Ascot's Premier Mine to the south. The project area is road accessible from Stewart, BC. The Program at Electrum totaled 2,581 meters (m) in 11 drill holes.

The first two drill holes tested broad, intrusive-related stockwork zones of gold-silver mineralization, with the remaining holes testing multiple shear-hosted, high-grade precious and base-metal veins. Results for the remaining nine drill holes will be published once they are obtained and evaluated. EL-23-01: This hole targeted a broad, possible porphyry-related area of gold-silver mineralization, that had been observed in one historical drill hole.

The first hole successfully intersected a stockwork vein system hosted within silicified, fine-grained volcanic rocks that averages 1.13 g/t Au and 6.02 g/t Ag over 61.5 m within a broader envelope of 0.77 g/t Au and 4.43 g/t Ag over 111.0 m. EL-23-02: Drilled from the same location as EL-23-01, this hole was oriented steeply to cut moderately dipping veins at surface and to explore for porphyry-related mineralization at depth. Near-surface mineralization was successfully intersected with a 37.3 m interval averaging 0.78 g/t Au and 1.65 g/t Ag. Further down hole, a 149.0 m intercept returned 0.45 g/t Au and 3.20 g/t Ag.

This hole ended in mineralization. The Qualified Person for this news release for the purposes of National Instrument 43-101 is the Company's President and CEO, Ken Konkin, P.Geo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

Diamond drill core samples were prepared at MSA Labs' Preparation Laboratory in Terrace, BC and assayed at MSA Labs' Geochemical Laboratory in Langley, BC. Analytical accuracy and precision are monitored by the submission of blanks, certified standards and duplicate samples inserted at regular intervals into the sample stream by Goldstorm Metals personnel. MSA Laboratories quality system complies with the requirements for the International Standards ISO 17025 and ISO 9001.

MSA Labs is independent of the Company.