RJK Explorations Ltd. Exploration Update Including the Findings From an Initial Review By the SRK Consulting Group

Kirkland Lake, Ontario--(Newsfile Corp. - July 27, 2022) - RJK Explorations Ltd. (TSXV: RJX.A) (OTC Pink: RJKAF) ("RJK" or "The Company") has and continues to engage with subject matter experts throughout its ongoing diamond exploration program to investigate and theorize on the continuous compilation of data derived through its various exploration activities to date. In addition, RJK plans on further evaluating the Kon prospect where there are numerous untested targets, as well as the under-explored Peddie Kimberlite. This work would be concurrent to regional glacial examination and the continued evaluation of the diamond bearing glacial material.

RJK has received a report completed by Casey Hetman, M.Sc., P.Geo. and Kimberley Webb, M.Sc. P.Geo. of the SRK Consulting Diamond Group (SRK) titled an "Initial Sample Review" of four samples representing four separate areas that were drilled for diamond potential. As noted in the news release dated March 21, 2022, SRK was engaged to complete a review of data and samples that have currently been collected on RJK's Nipissing Diamond Project and provide recommendations on the Company's future exploration efforts.

The four small samples examined are as follows: two drill core sections each from Paradis Pond and HSM prospects, one excavated sample from the Nicol prospect and one drill core section from the Kon prospect. Thin sections of the samples were examined and a subset of the Paradis, HSM and Nicol samples were washed and cleaned of mud for examination under binocular microscope, as well as the crystals and lithic clasts that were collected in a sieve and pan. Mr. Casey Hetman visited the RJK claims in the Cobalt-Temiskaming Shores area on April 22-23, 2022, as well as the RJK core storage facility where the drill core is currently stored.

SRK has concluded from this initial review that the Paradis, HSM and Nicol prospects represent glacial material containing kimberlite indicator minerals. At the Kon Prospect, SRK has concluded that the rock uncovered in that locality is kimberlite.

RJK previously hypothesized the deposits at Paradis, HSM and Nicol could have originated from eruptions underneath the last glacial event; given their location along major fault systems, the presence of micro diamonds and kimberlite indicator minerals as reported by RJK in 2021, and stratigraphic position deposited above bedrock but below a younger glacial till sheet. SRK recognizes the significance of the fact that the indicator mineral chemistry reported by RJK for the glacial deposits is different from that of past work by previous diamond explorers in what continues to be an interesting and attractive exploration prospect for the Company. SRK has recommended to widen the search to explore locations 'up-ice' from RJK's diamondiferous glacial material to determine where it originated. As a follow up, RJK will be consulting with expert glaciologists as part of SRK's recommendation to further investigate the available data to evaluate and prioritize 'next step' targets up-ice. SRK believes it would be beneficial to conduct a regional compilation of existing kimberlites and other potential, primary diamond source rocks and their associated chemistry to narrow down target selection for ultimate follow-up drilling. RJK has begun this process by assembling an expert team with extensive diamond exploration and discovery experience in the Temiskaming region. The expert team started by reviewing the data on the 38 known kimberlites discovered in the Temiskaming region on the list compiled by retired Ministry kimberlite specialist Gary Grabowski, advisor to RJK.

Gino Chitaroni, President, RJK Explorations Ltd., "Our goal has been to find the source of the Nipissing Diamond and in doing so, discover a diamond mine in the Cobalt area. Considering the quantities and type of kimberlite indicator minerals found in these diamondiferous glacial deposits, we believe the source eruption is likely undiscovered and proximal to their locations. Given the chemistry, and what we have learned from consultants to date, the RJK team feels very confident that there is an economic deposit for the diamonds in the Cobalt Mining Camp. This most recent study conducted by SRK brings us one step closer to achieving that goal and during the past 9 months RJK has been identifying targets to drill, starting in August 2022."

RJK is in the process of updating the website to include this new information from SRK, and further details on the Company's plan will be disclosed in follow-up press releases.

Mr. Peter Hubacheck, P. Geo., Project Manager for RJK and the Qualified Person as defined by National Instrument 43-101 has approved the technical disclosure in this release.

Contact Information
Gino Chitaroni, President.
Mobile: (705) 648 9956
Email: info@rjkexplorations.com
Web Site: https://www.rjkexplorations.com
Company Information: Tel: (705) 568-7445

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.

Forward-Looking Information

This news release includes certain forward-looking information and forward-looking statements which may include, but are not limited to, statements concerning the Offering generally, the proposed use of the proceeds, the Company's exploration plans, and the granting of options. Any statements contained herein that are not statements of historical facts or current conditions, are deemed to be forward-looking, including those identified by the expressions, "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose", "if", "hopes to", or certain statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "will occur", "will continue", or "will demonstrate". Such forward-looking statements and information are subject to various known and unknown risks many of which are beyond the Company's ability to control or predict, that may cause the Company's actual results, performance or achievements to materially differ from those expressed or implied thereby, and are developed on assumptions about such risks including: (a) general economic, industry and market conditions; (b) changes in applicable laws and regulations; (c) changes in operating risks, including fluctuations in commodity prices; (d) increased competition; (e) stock market volatility; (f) ability to obtain additional financing; (g) industry consolidation; (h) the execution of strategic growth plans; and (i) management's success in anticipating and managing the foregoing risks. In making these statements, the Company has made assumptions with respect to future capital expenditures, trends and developments in the mining industry, business strategy and outlook, expansion and growth of business operations, accounting policies, credit risks, opportunities available to or pursued by the Company, and other matters. Should one or more of these risks materialize or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company assumes no obligation to update the forward-looking information or statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132093