ISM Resources Acquisition of Quebec Mineral Rights Through Its Wholly-Owned Subsidiary, Discovery Lithium Inc.

Vancouver, B.C., Canada, August 8, 2023 – ISM Resources Corp. (CSE: ISM) (OTC: ISMRF) (FRA: Q3Q0) (the “Company” or “ISM”) is pleased to announce that it has closed its previously announced acquisition of certain Serindac Lake Claims (comprising 1,675 mineral claims) and Vaubert Lake Claims (comprising 2,113 mineral claims) located in the under-explored Nunavik region of Northern Quebec (the “Claims” and, collectively, the “Acquisition”).

The Acquisition was completed pursuant to a definitive agreement (the “Agreement”) with various sellers (the “Sellers”) pursuant to which, through its wholly-owned subsidiary, Discovery Lithium Inc., the Company acquired a 100% undivided legal and beneficial interest in the Claims.

In accordance with the terms and conditions of the Agreement, ISM purchased the abovementioned Claims from a group of Sellers in consideration of: (i) a cash payment of $990,000 (the “Cash Consideration”) to one of the Sellers; (ii) the issuance to the Sellers of an aggregate of 7,500,000 common shares of the Company (each, a “Consideration Share”), at a deemed issuance price of $0.15 per Consideration Share; and (iii) the granting of a 1% net smelter return royalty to one of the Sellers.

The Consideration Shares are subject to a voluntary pooling arrangement whereby one-third of the Consideration Shares will be released from escrow every six months after the closing of the Acquisition (the “Closing”). At Closing, the Company paid to the Sellers 50% of the Cash Consideration with the balance being due and payable upon the earlier of six months from Closing and the completion by ISM of financings of at least $2,000,000.

About ISM Resources Corp.

ISM Resources Corp. is a Canadian-based exploration company with a strong focus on identifying and advancing mineral resource projects in North America. The Company is currently advancing its gold exploration activities for the ESN Project located in Nevada. Additionally, ISM is evaluating the next steps for the Koster Dam Project located in Central British Columbia with its joint venture partner Cariboo Rose Resources.

On behalf of the Board of Directors
Michael Gheyle, Chief Executive Officer

ISM Resources would like to welcome investors to visit our website and join our mailing list, By signing up, you will stay up to date on the latest news releases and advancements within our company.

For further information, please contact:

ISM Resources Corp.
306 – 1110 Hamilton Street,
British Columbia,
V6B 2S2

Telephone: (778) 868-2226

The CSE has not in any way passed upon the merits of the matters referenced herein, including the Acquisition and the Concurrent Financing, and has neither approved nor disapproved the contents of this news release.

Caution Regarding Forward-Looking Information

Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.

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