RJK Explorations Ltd. Announces Approval of Warrant Amendments

The Warrants were originally issued pursuant to the Company's non-brokered private placement that closed in two tranches on May 20, 2022 and June 15, 2022. Pursuant to the Amendments, the new expiry date for all of the 8,057,363 Warrants shall be May 20, 2027.

2,947,099 of the Warrants will also have their exercise price reduced from $0.25 to $0.12. As previously disclosed, 5,916,000 Warrants (the "Insider Warrants") are held by an insider of the Company, and pursuant to TSX Venture Exchange policy, only 805,736 of the Insider Warrants are eligible for exercise price amendment, and the remainder will retain their original exercise price.

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

Forward-Looking Information
This news release includes certain forward-looking statements. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.