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Lake Winn Resources Corp. Receives Final Approval from Government of Northwest Territories; Triples Size of Little Nahanni Lithium Project to 7,080 Hectares

March 24th, 2023

March 24, 2023 – Vancouver, British Columbia – Lake Winn Resources Corp. (“Lake Winn” or the “Company”) (TSXV: LWR.H) (FSE: EE1A) is pleased to announce final approval by the Government of the Northwest Territories regarding the staking of an additional 4,550 hectares. Prior to this the Company controlled 2,530 hectares bringing the total land position to 7,080 hectares. The Little Nahanni Lithium project (“LNLP”) located in the Northwest Territories on the NWT/Yukon Border covers a 13 km long, and up to 500m wide, lithium, cesium, and tantalum (“LCT”) pegmatite vein swarm with many individual mineralized veins up to 10m thick. The project has had historic drilling and channel sampling that confirm significant lithium, tantalum, cesium, and tin.

Based on the encouraging historic results and the large footprint of this LCT pegmatite system, Lake Winn is in preparation for an estimated 4,000m drill program.

Approximately 25% of the SQUID magnetometer survey have been received and released (see Press Release dated January 26 th , 2023). The balance of the survey is now complete and results are expected shortly.

The preliminary data has shown striking linear magnetic responses, with one zone lining up with the known pegmatite trend (see Figure 1) and with a second stronger linear anomaly with no known geological explanation. Field crews will be deployed to investigate this potentially new area of mineralization.

Figure 1: Previous Magnetometer Representing Approximately 25% of the Property. Close-up of previously completed magnetometer data.

Qualified Person

The Qualified Person for this news release is Buddy Doyle, AUSIMM, a Geologist with over 35 years of experience in mineral exploration, discovery, and evaluation. A Qualified Person under the provisions of the National Instrument 43-101.

About Lake Winn

Lake Winn Resources Corp., is a mineral exploration company, focusing on advancing its’ 100% owned Little Nahanni Lithium Project, Northwest Territories, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS OF LAKE WINN RESOURCES CORP.
Patrick Power, President & CEO
+1 (604) 218-8772
info@lakewinn.ca
www.lakewinn.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward-looking statements” including but not limited to statements with respect to Lake Winn’s plans, the estimation of a mineral resource, and the success of exploration activities. In this release, it is not certain if the kimberlite discovered will be economic or not as this depends on many factors. Forward-looking statements, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could affect our plans include our potential inability to raise funds as intended, and in such event, we may require all funds raised, if any, to be used for working capital rather than the intended uses as outlined. Accordingly, readers should not place undue reliance on forward‐looking statements. Lake Winn Resources Inc. undertakes no obligation or responsibility to update forward‐looking statements, except as required by law.

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