ATAC Resources Ltd. announce results of phase two exploration work at the Catch copper-gold property in central Yukon ("the Property"). Phase two work included additional prospecting and mapping, as well as a maiden reverse circulation ("RC") drill program. Exploration Overview: High-grade copper and gold mineralization was identified in outcrop at the main zone across a 500 m extent, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold; Samples from an outcrop of diorite porphyry located 2 km south of the main zone returned 1.45% copper with 0.20 g/t gold, and 1.27% copper with 0.57 g/t gold; 473.97 m of RC drilling was completed in 6 holes, however all holes failed to reach target depth due to equipment limitations and poor ground conditions.

Planning is underway to return to the Property with a diamond drill in summer 2023. Catch Exploration Summary: The phase two work program at Catch included collection of 33 infill soil samples, 176 rock samples, and 473.97 m of RC drilling in 6 holes. The prospecting program was highly successful in identifying new zones of surface mineralization, and in expanding the footprint of the main zone.

Numerous high-grade outcrop samples were collected, including 3.03% copper with 4.46 g/t gold, 2.83% copper with 6.07 g/t gold, and 0.42% copper with 14.60 g/t gold – all from the main zone. Mineralization throughout this area is extensive, with high-grade samples collected from outcrops across a 500 m area. Float samples from this zone extend mineralization to a 400 x 600 m area.

A new zone with an outcropping diorite porphyry was also identified over 2 km south of the main zone. Samples of the diorite returned 1.45% copper with 0.20 g/t gold and 1.27% copper with 0.57 g/t gold and are coincident with a pronounced 600 x 600 m magnetic low. This outcrop was discovered by prospecting in the final days of the exploration program and very limited sampling has been conducted in this area to-date.

With these robust grades and potential for additional associated porphyry-style copper and gold mineralization, this target area is being prioritized for additional work in early 2023. Initial petrographic studies show mineralization at the main zone is dominantly associated with propylitic to sericitic alteration of basalt, hydrothermal breccias and rare diorite host rocks. Petrography of the diorite zone shows dominantly sericitic alteration of diorite and lesser hydrothermal breccia host rocks.

RC drilling was aimed at evaluating coincident copper-gold geochemistry at surface and induced polarization ("IP") chargeability at depth within the main zone. Unfortunately, ground conditions proved more challenging than anticipated and the heli-portable RC rig was not able to reach target depth in any hole. Anomalous copper and gold were intersected in multiple holes; however, no significant intercepts were returned.

The primary IP target remains untested, and numerous other areas on the Property with high-grade copper and gold in rock have yet to be evaluated by drilling, including the diorite zone. Property Geology and Mineralization: The Property lies within the Stikine Terrane and is immediately adjacent to the 1,000+ km long, deep seated, crustal scale strike-slip Teslin-Thibert fault. The Stikine Terrane is characterized by Late Triassic to early Jurassic volcanic-plutonic arc complexes that are well-endowed with copper-gold-molybdenum porphyries including the Red Chris, Schaft Creek, Kemess, KSM and Galore Creek deposits and mines.

The Property is mostly underlain by augite phyric basalt of the Semenof Formation, centered on a 7 x 3 km regional magnetic high. Mineralization is associated with propylitic to sericitic alteration of basalt and lesser diorite host rocks. Locally there is intense silicification, brecciation and up to 10% disseminated to blebby pyrite, chalcopyrite and trace bornite and pyrrhotite.

Secondary copper minerals including malachite, azurite and tenorite are widespread at surface, and coat fracture surfaces, and are often associated with gypsum. The geology, alteration and mineralization observed throughout the Property are all indicative of a nearby copper-gold ± molybdenum bearing porphyry system. The Property is under option from a Yukon prospector, and ATAC can earn up to a 100% interest in the Property.