York Harbour Announces Leadership Transformation with Appointment of Blair Naughty as CEO

York Harbour

Toronto, Ontario–February 1, 2024- York Harbour Metals Inc. (TSXV:YORK) (OTCQB:YORKF) (FSE:5DE) (“York Harbour” or the “Company”) is pleased to announce a strategic reorganization of its management team, highlighted by the appointment of Blair Naughty as Interim Chief Executive Officer & President, effective immediately.

About Blair Naughty

Bringing over 35 years of experience in the securities, capital markets, and venture capital sectors, Blair Naughty stands at the forefront of guiding York Harbour Metals through its next growth phase. His career, which spans roles at Midland Walwyn, Sprott Securities, and Yorkton Securities, along with his achievements as a venture capitalist and entrepreneur, has given him an extensive understanding of the mining sector and public market dynamics. This blend of experience positions him ideally to steer the company towards new heights.

Speaking about his commitment and vision, Naughty states, “My passion for Newfoundland and our projects at York Harbour drives every decision I make. Demonstrating my alignment with our shareholders, I have recently personally purchased over 5 million shares, amounting to over 2 million dollars in the open market, on top of participating in financings, which brings my total position to nearly 10 million shares. This significant stake is a testament to my confidence in our projects and the future of York Harbour. My investment goes beyond financial contributions; I am deeply involved in the province, dedicating time to build strong local relationships and gaining an intimate understanding of the regional landscape.”

Naughty sees significant growth opportunities for York Harbour, specifically highlighting the York Harbour Copper Project and the Bottom Brook Rare Earth Project as key assets. These projects, with their considerable untapped potential, should significantly contribute to the company’s growth. Acknowledging the challenges in the current market, Naughty emphasizes the need for strategic reassessment to maximize the advancement of these promising opportunities.

Management Reorganization

This leadership transition is accompanied by the resignation of Bruce Durham, who will continue to lend his expertise as a director, and Doug Blanchflower’s departure as Director, Officer, and Qualified Person, effective January 22nd, 2024. Additionally, Andrew Lee steps down from his Managing Director role but remains on the Board of Directors. The existing Board, including Chairman Michael Williams and Directors Roger Baer, and Leo Power, remains committed to ensuring a seamless transition and ongoing stability.

York Harbour Metals reaffirms its commitment to the responsible advancement of its projects, with a strong focus on sustainability, community engagement, and shareholder value creation.

On Behalf of The Board of Directors: Andrew Lee Director

For further information, please contact: 

Telephone: 778-302-2257

Email: [email protected]

Website:  www.yorkharbourmetals.com

Address: 1518 – 800 Pender Street W, Vancouver, BC, Canada V6C 2V6

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Information

This release contains forward-looking information and statements reflecting the Company’s current expectations and projections about future results. These statements are based on current assumptions and involve risks and uncertainties that could cause actual outcomes to differ. The Company undertakes no obligation to update these forward-looking statements, and readers are cautioned to consider these factors carefully.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding York Harbour Metals Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to York Harbour Metals Inc.’s industry; (b) market opportunity; (c) York Harbour Metals Inc.’s business plans and strategies; (d) services that York Harbour Metals Inc. intends to offer; (e) York Harbour Metals Inc.’s milestone projections and targets; (f) York Harbour Metals Inc.’s expectations regarding receipt of approval for regulatory applications; (g) York Harbour Metals Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) York Harbour Metals Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute York Harbour Metals Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) York Harbour Metals Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) York Harbour Metals Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) York Harbour Metals Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of York Harbour Metals Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) York Harbour Metals Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact York Harbour Metals Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing York Harbour Metals Inc.’s business operations (e) York Harbour Metals Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, York Harbour Metals Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does York Harbour Metals Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither York Harbour Metals Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

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