Dec 7, 2023

Kingsmen Resources Acquires Total Ground Magnetic Coverage of Las Coloradas Project December 07, 2023 at 08:35 am EST Share Vancouver, British Columbia--(Newsfile Corp. - December 7, 2023) - Kingsmen Resources Ltd. (TSXV: KNG) (OTCQB: KNGRF) ("Kingsmen" or the "Company") is pleased to report it has acquired ground magnetic coverage of the 100% controlled Las Coloradas project, located 30km from Hildago de Parral, Chihuahua, Mexico. Portions of the Soledad structure were mined by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico in the period 1944 to 1952. Kingsmen Resources, with the assistance of the vendors of the Las Coloradas claims, acquired ground magnetic data covering the entire Las Coloradas project area. The magnetic data (2017 (219.2 line-km) and 2018 (100.6 line-km) was acquired by two different companies neither of which controlled the entire Las Coloradas project area. The Company, through its Mexican subsidiary Leona Silver Exploraciones S.A. de C.V., commissioned the processing and interpretation of the magnetic data. Processing included the merging and levelling of the data bases to produce various metadata including total magnetic intensity, residual magnetic anomaly, reduction to the pole, 1st vertical derivative, tilt derivative, upper continuation of the reduction to the pole, two orders of high frequency filtering of the reduction to the pole and analytical signal. Processing was performed for the whole area but given that the high contrast of the magnetic response may hide subtle features, two further rounds of data processing were completed to cover two specific areas to ensure the quality of the metadata. The magnetic data has been added to the project data base. Further processing and interpretation of the data, in conjunction with the geology, structure and geochemistry are ongoing to identify targets for drilling. Scott Emerson, President commented: "The detailed magnetic geophysical information will provide guidance for expanding the mineralization at Las Coloradas as our field programs continue." About Las Coloradas The 100% controlled Las Coloradas Project ( 8.5 km2 -3.3 sq miles) represents a consolidation of a historic mining district which covers numerous silver-gold-lead-zinc-copper mines previously exploited by ASARCO (American Smelting and Refining Company), the U.S. based subsidiary of Grupo Mexico. Las Coloradas is in the Parral mining district of the Central Mexican Silver Belt, and is located approximately 30 kilometers southeast of the city of Hildago de Parral and 40 kilometers east of the San Francisco de Oro and Santa Barbera mining districts where several old major mines are located, such as La Prieta, Veta Colorada, Palmilla, Esmeralda, San Francisco del Oro and Santa Barbara. As well, new major mining projects are currently being explored in the district; Cordero (Discovery Silver Corp.), 35 kms north of Parral, and La Cigarra (Kootenay Silver Inc.), 35 kms northwest of Parral. Click here to see locator map, https://www.kingsmenresources.com/area-history. Qualified Person Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical disclosure set out in this news release. About Kingsmen Resources In line with Kingsmen's organic-growth strategy, the Company's focus is on exploration and development, and is currently focused on district-scale exploration for high -margin metallic mineral deposits in the prolific mining districts of Parral Mexico. In addition, the company has a 1% NSR on the Los Ricos North project in Mexico operated by GoGold Resources Inc. The Company's leaders have extensive experience in the mining and financial sectors. Kingsmen is a publicly-traded company (TSXV: KNG) (OTCQB: KNGRF) and is headquartered in Vancouver, British Columbia. On behalf of the Board, Signed: "Scott Emerson" Scott Emerson, President & CEO Kingsmen Resources Ltd. is a Canada-based exploration company. The Company is focused on exploration and development and is focused on district-scale exploration for high-margin metallic mineral deposits in the prolific mining districts of Parral Mexico. The Company’s Las Coloradas brownfield project is located within the north-east portion of the Central Mexican Silver Belt, in the southeastern corner of the Parral mining district, approximately 40 kilometers east of the San Francisco de Oro and Santa Barbara active mining districts. In addition, the Company has a 1% net smelter return (NSR) on the Los Ricos North project in Mexico operated by GoGold Resources Inc. Sector