High Tide Resources Corp. announced the release of its maiden Mineral Resource Estimate ("MRE") for its Labrador West Iron Project (the "Project" or "Property"). The Property is located in the southern Labrador Trough, home to four operating iron ore mines, and less than 20 km northeast of IOC/Rio Tinto's Carol Lake Mine complex in Labrador City, Newfoundland and Labrador.

The path forward for the Project will focus on increasing knowledge and confidence levels while reducing risk. Additional infill and step-out drilling will target expansion of the resource in size and its upgrading from the current Inferred category to Indicated and Measured categories, while providing more critical geological information required for further deposit modelling and detailed metallurgical studies. The results of metallurgical testing completed so far indicate a quality concentrate product can be achieved using gravity separation techniques, with results that are comparable to similar iron mining projects in the region.

The Labrador West Iron Project is comprised of one mineral licence (99 mineral claims), 2,475 hectares in size. The area was explored and drilled by Rio Tinto Exploration from 2010 to 2012, and then by High Tide Resources in 2020 & 2022. To date, approximately 7,500 m of core in 27 completed holes has been drilled on the property.

Located less than 20 kilometres northeast of Labrador City, the Project is proximal to all the critical infrastructure required to explore and develop a major new iron deposit in the heart of the southern Labrador Trough. Experience by major producers operating in the Labrador Trough indicates that hematite and magnetite in this geological setting are readily recoverable using modern, industry standard beneficiation methods, that produce high purity, desirable iron concentrates.