Castlebar Capital Corp. (TSXV:CBAR)("Castlebar" or the "Company") is pleased to announce that it has entered into a letter of intent dated April 25, 2024 (the "LOI") with Mosaic Minerals Corporation (CSE:MOC) ("Mosaic"). Pursuant to the LOI, Castlebar will be granted an option to acquire (the "Transaction") up to a 100% interest in the Lichen Project (the "Lichen Project" or "Property"). The Transaction is intended to be Castlebar's "Qualifying Transaction" for purposes of the TSX Venture Exchange's (the "Exchange") Capital Pool Company program.

The Lichen Project consists of 282 claims covering a total area of 15,622 hectares and is located approximately...