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White Pine Precious Metals Announces the Closing of the Taylor Project Acquisition and the hiring of John Marma as President and Chief Executive Officer

RENO, Nev. and TORONTO, Jan. 30, 2023 (GLOBE NEWSWIRE) -- White Pine Precious Metals Inc. ("White Pine", the "Company", "it", or "we") is pleased to announce that on January 27, 2023, it closed the previously announced transaction to acquire the Taylor Project (the "Property") from Silver Predator Corp. (the "Transaction") a series of mining claims located in White Pine County in the State of Nevada and has hired John Marma as President and CEO of the Company.

The Transaction consists of a payment of $1.75M to Silver Predator Corp., fifty percent of which was due at closing and the remainder is due within 18 months of closing the Transaction. As part of the Transaction, Silver Predator will retain 5% equity of White Pine until the Company's valuation is $5M.

"On behalf of the Board of Directors of White Pine, I am very pleased to welcome John Marma as the President and CEO. Mr. Marma is an experienced leader with extensive geologic experience in Nevada and a diverse operational background, said John Antwi, Chairman of the Board. John Marma will be supported by Sam Bourque as part-time VP for Exploration and Jeff Stieber as part-time CFO. The team is very excited that John Marma has made a commitment to White Pine to enhance our key strategic priorities, beginning with a new perspective of the Taylor Deposits." Anthony Bottrill and Ben Hinkle will continue providing technical advisory services to the management team.

John Marma commented, "I am thrilled with the opportunity to lead White Pine and particularly excited about the Taylor project. More importantly, the team has a proven track record of successfully exploring, developing, and operating mines in Nevada. Taylor offers a unique opportunity to generate value from a historic district through sound geologic work, reinterpretation and project development."

The Taylor Property has a history of exploration and mining dating back to its earliest discovery in 1872, with much of the focus on shallow high grade silver mineralization. The Property deposit has been previously described as an epithermal, high-silica, low sulfide replacement deposit hosted in Devonian carbonate rocks. White Pine's initial review of the deposit characteristics, and broader geochemical signatures, suggests that the mineralization may have the significant potential for Carlin-type and carbonate replacement deposit ("CRD") mineralization. This initial interpretation broadens the exploration potential of the project and is believed to be consistent with the presence of nearby porphyry style deposits (Robinson and Ward mines) and recently published exploration results from eastern Nevada highlighting CRD style mineralization (including i-80 Gold Corp's Ruby Hill Property and Ridgeline Minerals' Selena Project).

John Marma, is a professional geologist with over 20 years' exploration, project development, and production experience in Nevada, Alaska and South Africa. Mr. Marma most recently served as the Director of Exploration and Geology in Nevada for Hecla Mining, responsible for all Nevada based geologic activities. Previous roles include senior positions focused on epithermal vein projects in the Northern Nevada Rift (NNR) and Carlin-type deposits with Klondex and Newmont and junior roles focused on orogenic gold (Barberton District, S.A.) and gold porphyry (Donlin Creek-Placer Dome). Mr. Marma was responsible for the discovery of the Eastern Veins and the Green Racer Sinter Vein at the Midas Mine. Mr. Marma holds a B.S. in Geoscience from North Dakota State University and a M.S. in Geology from the University of Wisconsin - Madison. He was also awarded a Fulbright Scholarship and studied at Karl Franzens University in Graz, Austria. Mr. Marma is a registered professional geologist with the American Institute of Professional Geologists (AIPG) #11709 and is a long-time member of both the Society of Economic Geologists (SEG) and the Geological Society of Nevada (GSN).

About White Pine Precious Metals Inc.

White Pine Precious Metals is a new private mineral resource company formed and led by experienced mining and exploration executives with headquarters in Reno, Nevada, USA. The Company recently closed a transaction to purchase the Taylor Project, which is located outside of Ely, Nevada. The company is planning to review the unaccounted gold resources and rescope the project to identify additional gold and silver targets in the district. For additional information please visit the Company's website at www.whitepinemetals.com or contact the Company at the below:

John Marma, President & CEO
White Pine Precious Metals Inc.
6490 S McCarran Blvd, Building E, Suite 121
Reno, NV 89509
(775) 397-2936

Forward-Looking Statements

This Press Release contains certain forward-looking statements that reflect the current views and/or expectations of management concerning, among other things, performance, business, and future events, including the development of the Taylor property and the expected timing thereof; the growth potential of the Taylor project; the gold and silver resource potential of the Taylor project, the expected direction of project and exploration capital; anticipated operational and strategic plans pertaining to the projects and the timing thereof; the expected timing and amounts of future financing efforts; and timing of a the transaction closing.

Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates, and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions which are difficult to predict. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

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News published on 30 january 2023 at 07:00 and distributed by: