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Richmond Minerals Inc. Announces the Acquisition of Claims in the Rollo Township Area of North Central Ontario

Toronto, July 10, 2023 – Richmond Minerals Inc. (TSXV: RMD) (“Richmond” or the “Company”) is
pleased to announce the acquisition of nine (9) mineral exploration claims in the Rollo Township area (the
“Claims”) of north-central Ontario. The Claims are contiguous with Richmond’s Ridley Lake Property.
Richmond will issue 150,000 of its Treasury shares to the Vendor (an arm’s length party), to acquire a
100% interest in the Claims. The Claims are not subject to a royalty agreement and are prospective for
gold exploration.

The shares issued to acquire the Claims will be subject to a 4-month hold from the date of issue.

CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties, and other factors that could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes but is not limited to, Richmond’s objectives, goals, or future plans, including the successful completion of the Transaction. There is no guarantee that the Transaction will be completed on the terms announced in this press release or at all. Factors that could cause actual results to differ materially from such forward-looking information include but are not limited to, changes in general economic conditions and conditions in the financial markets; the ability of Richmond to raise funds pursuant to future offerings, including the second tranche of the Offering; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Richmond’s public documents filed on SEDAR. Although Richmond believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Richmond disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

For information, please contact:
Franz Kozich,

Warren Hawkins, P. Eng.,
Exploration Manager
Tel: 416-603-2114