High Tide Resources Corp. provided an update for its Labrador West Iron Project. The Company has sent out a metallurgical testwork Request for Proposal ("RFP") to several innovative firms globally recognized for their high levels of technical expertise in iron ore beneficiation, pelletizing, as well as metallurgical testing of iron ore feedstock for direct reduction and steelmaking.

The Company will utilise a portion of the plus 5 tonnes of iron bearing material, known as a coarse rejects, that it has retained from its 2022 drill program that was used to define the maiden inferred resource of 655 Mt @ 28.8% Fe announced in February 2023. The coarse rejects are the unused portion of the "split" drill core sample that was used in the assaying process. The testwork will have three main objectives: Beneficiate the raw material to produce a direct reduction ("DR") quality iron ore concentrate.

Importantly, the low-carbon emission future will require Direct Reduction quality concentrate and pellets, two products that the Trough is producing and is considered to have significant growth potential to help support a "Green Iron and Steel" future. The Property is strategically located near the mining communities of Wabush and Labrador City in the province of Newfoundland & Labrador and Fermont in Quebec. The area is home to Champion Iron Ore's Bloom Lake Mine, ArcelorMittal's Mont-Wright Mine, Tacora Resources' Scully Mine, and Rio Tinto IOC's Carol Lake Mine.

High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 6654.9 Mt @ 28.84% Fe and is located adjacent to IOCC's Carol Lake Mine in Labrador City, NL. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P. Geo, Matthew Herrington, M. Sc., P. Geo, Catharine Pelletier, P. Eng.

and Jeffrey Cassoff P. Eng. The Company also owns a 100% interest in The Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec. R risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.