TORONTO, ONTARIO – August 4^th, 2023 – Mistango River Resources Inc. (“Mistango” or the “Company”) (CSE: MIS) is pleased to announce that its Annual General & Special Meeting of Shareholders will be held on Thursday, October 19^th. More information on the meeting will be available in the Company's management information circular, which will be posted on Sedar+ in September.

Stock Option Grant

The Company is pleased to announce that the Board of Directors has approved the grant of stock options to certain directors, officers, and consultants of the Company, allowing for the acquisition of up to, in the aggregate, 2,550,000 shares of the Company. The options are exercisable at a price of CAD $0.06 per share for five (5) years from the date of grant, vest one (1) year from the date of grant and are subject to regulatory policies and approvals.

The grant of options to certain directors and officers is a "related party transaction" ‎under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special ‎Transactions ("MI 61-101"). The Company relied on the exemptions from the formal valuation and minority ‎shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI ‎‎61-101 in respect of related party matters, as the Company is listed on the Canadian Securities Exchange and neither the fair ‎market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of ‎the consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the ‎Company's market capitalization (as determined under MI 61-101).‎

About Mistango River Resources

Mistango is an exploration company focused on gold and copper in Ontario and Quebec. Mistango owns a range of assets in the Kirkland Lake district and the emerging Shebandowan gold district in Ontario. Mistango also owns copper assets located in Chibougamau, Quebec, and a portfolio of strategic investments, one of which is Metal Energy's (MERG: TSXV) Manibridge Nickel Mine, a historical production site previously operated by Falconbridge.

Stephen Stewart, Chief Executive Officer

Phone:  416.644.1567

Email:  sstewart@mistango.com

www.mistango.com

Reader Advisory

Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Mistango 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 unless and until required by securities laws applicable to Mistango. Additional information identifying risks and uncertainties is contained in filings by Mistango with Canadian securities regulators, which filings are available under Mistango profile at www.sedarplus.ca