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High Tide Resources Announces Results from Annual General Meeting and Option Grant

Press Release

TORONTO, January 02, 2024 – High Tide Resources Corp. (“High Tide” or the “Company”) (CSE: HTRC) is pleased to provide an update from its Annual General Meeting (“AGM”) which was held on December 20, 2023. Shareholders voted to approve all items of business put forth to shareholders at the AGM, including the re-election of directors, appointment of the auditor, amendment to the Company’s by-laws and the authorization to consolidate the Company’s common shares.

In addition, pursuant to the Company’s annual option grant and the Company’s Stock Option Plan, the Company has granted 3,500,000 incentive stock options to directors, officers and select consultants of the Company. These options are exercisable into common shares of the Company at a price of $0.10 per share for a period of five years and are subject to vesting provisions. The grant is subject to the necessary regulatory approvals including that of the Canadian Securities Exchange.

Steve Roebuck, Director and Interim CEO states, “While 2023 was a challenging year for many juniors the Company made significant progress in the development of its Labrador West iron ore deposit with the release of its maiden resource. The world is focused on the reduction of carbon emissions to reduce the effects of climate change. The iron and steel industries are critical to the development of the infrastructure required to support the changes critical in the goal to reduce carbon emissions. Development at Labrador West will seek to produce Direct Reduction Quality iron ore pellets. Significant investments by industry and governments are being made to allow steel making to shift to a low and eventual zero-carbon emission future. The Company will produce the raw materials critical in achieving this goal”.

Iron Ore and the Labrador Trough Infrastructure Advantage
The Labrador Trough of western Labrador and adjoining Quebec constitutes Canada’s primary iron producing district and is host to world-class deposits that have been mined for more than sixty years. The high quality of the deposits in the region allows for a wide range in product diversity, which includes premium fines, concentrate and pellet grades. 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 (see location map appended to this press release) 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, 2 ArcelorMittal’s Mont-Wright Mine, Tacora Resources’ Scully Mine, and Rio Tinto IOC’s Carol Lake Mine.

About High Tide
High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 654.9 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. Majority shareholder Avidian Gold (TSX.V: AVG) controls approximately 30% of High Tide’s outstanding shares.

Further details on the Company, including a NI 43-101 technical report on the Labrador West Iron property can be found on the Company’s website at www.hightideresources.com .

Qualified Person
The technical information contained in this news release has been approved by Michael Zurowski, P.Eng., Executive Vice President of High Tide, who is a Qualified Person as defined in “National Instrument 43-101, Standards of Disclosure for Mineral Projects.”

For further information, please contact:
Steve Roebuck, P. Geo
Director, President & Interim CEO
Mobile: (905) 741-5458
Email: sroebuck@hightideresources.com

Michael Zurowski, P. Eng
Executive Vice President
Mobile: (416) 357-9753
Email: mtz@hightideresources.com

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