Goldseek Resources Inc. provided an update on its exploration plans for the Fall across its portfolio of Projects. The Company is focused on the Beschefer Project, located approximately 30 kilometres southwest of Wallbridge Mining Company Limited's ("Wallbridge") Fenelon Gold Project. On March 3rd, 2021, the Company entered into an option agreement on the Beschefer Project to earn 100% over 4 years from Wallbridge.

Pausing drilling was a tough decision, undertaken to prudently manage capital during these challenging market conditions. Beschefer Project: Fall Drill Program: The Company is currently designing a 2,500-metre follow-up drill program aimed at extending high-metal factor trends and the gold system's strike length. This drill program will concentrate on the Central Shallow and East Zones, which host the project's highest historical metal factor intercepts.

Option Update - Work Commitment: As of June 30, 2023, the Company has completed approximately $2 million in work expenditures at the Project. The Company is on track to achieve its final option milestone of incurring $3.0 million in work expenditures by February 2025. Bonanza Project: The Company announced the optioning of its Bonanza Project to Mabel Ventures Inc. The Bonanza Project comprises 92 claims and is situated in Quebec's Urban Barry Gold Camp.

Pursuant to an option agreement between Goldseek and Mabel, Mabel has the right to earn 51% interest in the Bonanza Project broken down as follows: 25% Interest: Mabel may acquire a twenty-five percent (25.0%) interest in the Property by incurring Expenditures of no less than $100,000 and issuing 500,000 common shares to Goldseek on or before December 31, 2023. The Mabel common shares have been received by the Company and are subject to the applicable hold periods in accordance with securities laws in Canada o 51% Interest: Following the acquisition of the initial twenty-five percent (25.0%) interest in the Property, Mabel may acquire a further twenty-six percent (26.0%) interest for a total interest of fifty-one (51.0%), by incurring Expenditures of no less than $150,000 on or before December 31, 2024. In the event that Mabel exercises all or a portion of the Option, at the conclusion of the Option Period, the parties will work diligently and in good faith to negotiate the terms of a joint venture to advance the development of the Property.