Xplore Resources Modifies Terms of Upper Red Lake Agreement

Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company"), is pleased to announce that it has contracted Prospectair Geosurveys Inc. ("Prospectair") of Gatineau, Quebec to complete a high-resolution heliborne magnetic survey of the recently optioned 3416 ha lithium Surge Property (the "Property" or "Surge") located in the Patricia Mining District, Ontario, Canada approximately 150 kms east of Red Lake, Ontario.

Wes Hanson, P.Geo., President and CEO of Xplore Resources, commented, "We were fortunate to be able to join a consortium of lithium focused exploration companies who have aggressively acquired claims in the region, largely due to the discovery potential for lithium bearing pegmatites associated with the Allison Lake batholith and Root Lake pegmatite group. Participating in this consortium not only reduces the overall costs of the survey for all participants, but more importantly, it will generate preliminary results by mid-May, allowing us the opportunity to prioritize areas of interest for field follow up and sampling during the coming field season. That allows us to double down on field evaluation as our Perrigo Lake claim block, acquired initially for its gold potential, lies immediately west and adjacent to the Allison Lake Batholith, giving us two properties in this dynamic region. We are very encouraged by the commitments outlined in Ontario's recently announced Critical Minerals Strategy, focused on positioning the province to benefit from the anticipated exponential growth of electric vehicle manufacturing. This includes financial support for the exploration for and development of critical battery metals, including lithium, throughout northern Ontario."

Xplore Resources Corp. (TSXV: XPLR) ("Xplore or the "Company"), is pleased to announce anomalous gold in till sample results obtained from the Upper Red Lake Property (the "Property" or "URL") located in the Red Lake Mining District, Ontario.

• Reconnaissance gold in till sampling confirms highly anomalous gold grain counts
• 75% of the sample population returned gold grain counts in the upper decile of regional till sampling completed by the Geological Survey of Canada ("GSC")
• Pristine and modified gold grains comprise +60% of population
• Best gold in till results coincident with areas of magnetic destruction
• Results include 7834 ppb Au, the highest gold tenor returned to date within the claims
• Adjacent to Prosper Gold's Golden Sidewalk gold in till anomaly

Waldo Sciences Inc., Vernon, B.C. ("Waldo"), completed a two-week reconnaissance mapping and sampling program on the Property in October 2021. Onset of winter conditions limited Waldo's coverage to the C1, 2 and 3 target areas (Ref. December 14, 2021, XPLR Press Release). Target C1, a 2200 meter linear, east-west trending magnetic high, coincident with an intrusive-greenstone contact was highlighted by the gold in till results. Targets C2 and C3 further south may represent the continuation of Prosper Gold Corporations' "Golden Corridor" target, a 7 km x 0.5 km gold in till anomaly currently being drilled to the east of Upper Red Lake.

Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company"), is pleased to announce that it has entered into an Option Agreement (the "Agreement") with 1544230 Ontario Inc. and Gravel Ridge Resources Inc. (together the "Optionors") to earn a 100% ownership interest in eight (8) unpatented contiguous mining claims (3416 ha) that make up the Surge Property (the "Property" or "Surge") located in the Patricia Mining District, Ontario, Canada approximately 150 kms east of Red Lake, Ontario.

The Property is in the Superior Province of the Canadian Shield, along the 450 km, E-W trending Sydney Lake - Lake St. Joseph ("SL-LSJ") fault, separating dominantly intrusive rocks and greenstones of the North Caribou superterrane to the north from the metasedimentary rocks of the English River terrane to the south. (Ref. Figure 1.0).

Xplore Resources Corp. (TSXV: XPLR) ("Xplore" or the "Company"), has identified and prioritized targets at its Upper Red Lake Project ("Upper Red Lake"), located in the Red Lake Mining Division, Ontario.

Jeremy S. Brett, M.Sc., P.Geo., Senior Consulting Geophysicist, Jeremy S. Brett International Consulting Ltd., has reviewed the airborne magnetic data for the Upper Red Lake property, identifying six priority anomalies for field follow-up (Ref. Figure 1.0). A brief overview of each target follows:

Xplore Resources Corp. (TSXV: XPLR) ("Xplore or "the Company"), is pleased to announce the acquisition of Baru Exploração Mineral Ltda. ("Baru"), a Brazilian limited liability company.

Terms of Transaction