Decade Resources Closes Private Placement Financings for Total Gross Proceeds of $2,970,000

Stewart, British Columbia--(Newsfile Corp. - September 13, 2023) - Decade Resources Ltd (TSXV: DEC) ("Decade" or the "Company") announces that it has closed its previously announced private placement financings.

8,250,000 flow through units were purchased on a bought deal private placement basis at a price of $0.24 per unit, for aggregate gross proceeds of $1,980,000 (the "Brokered Financing").

2,749,998 flow through units were purchased at a price of $0.24 per unit, for gross proceeds of $660,000, and 1,650,000 non-flow-through units were purchased at a price of $0.20 per unit, for gross proceeds of $330,000. (the "Non-Brokered Financing").

The Company raised total gross proceeds of $2,970,000 from the Brokered Financing and the Non-Brokered Financing (together, the "Offering").

The share included in the non-flow-through unit is a common share.

The share included in the flow-through unit is a "flow-through share" as defined in the Income Tax Act (Canada).

Both the non-flow-through unit and the flow-through unit included one transferable warrant exercisable for the purchase of one additional common share, at a price of $0.32 per share, for 2 years.

Directors of the Company acquired 1,250,000 flow-through units for $300,000 and 655,000 non-flow-through units for $131,000. These transactions are considered to be related party transactions, as defined under Multilateral Instrument 61-101. However, they are exempt from the formal valuation and minority shareholder approval requirements as neither the fair market value of the shares issued to, or the consideration paid, exceed 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

Proceeds from the sale of flow-through units will be utilized for incurring flow through expenses that qualify as "Canadian exploration expenses" and "flow through critical mineral mining expenditures" as defined in the Income Tax Act (Canada). Flow-through proceeds will primarily be spent on the Nobody Knows Copper property, with a smaller portion to be spent on the Red Cliff property.

Proceeds from the sale of non-flow-through units will be used to pay Offering expenses, and for general corporate purposes.

In connection with the Offering, Decade paid finder's fees of $200,020 and 832,433 broker warrants. Each broker warrant is exercisable at $0.24 for 2 years after closing.

All securities issued pursuant to the Offering are subject to a statutory hold period of four months from the date of issuance, expiring January 13, 2024, in accordance with applicable securities laws.

The Offering is subject to final approval of the TSX Venture Exchange.

Decade Resources Ltd. is a Canadian based mineral exploration company actively seeking opportunities in the resource sector. Decade holds numerous properties at various stages of development and exploration from basic grass roots to advanced ones. Its properties and projects are all located in the "Golden Triangle" area of northern British Columbia. For a complete listing of the Company assets and developments, visit the Company website at www.decaderesources.ca. For investor information please call 250-636-2264 or Gary Assaly at 604-377-7969.

Ed Kruchkowski, P. Geo., a qualified person under National Instrument 43-101 is responsible for the contents of this release. Ed Kruchkowski is not independent of Decade as he is the president of the Company.

ON BEHALF OF THE BOARD OF DECADE RESOURCES LTD.

"Ed Kruchkowski"

Ed Kruchkowski, President

"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."

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

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