Perth, Australia--(Newsfile Corp. - October 18, 2023) - Golden Horse Minerals Limited (TSXV: GHML) ("Golden Horse" or the "Company") wishes to advise that the Company has further bolstered its board of directors (the "Board") with the appointment of highly experienced Director and Executive, Mr. Paul Andre Huet to the position of Non-Executive Director effective October 18, 2023.

Mr. Huet embarked on his mining career over 35 years ago and throughout that time has built a reputation in developing world class mining companies. In his current role as Executive Chairman and CEO of Karora Resources, a TSX listed gold company (TSX: KRR), he oversaw a 10-fold growth in market cap, to over A$1 billion within a three-and-a-half-year period (current market cap of ~A$860 million). Mr. Huet is an expert in corporate and operational affairs and has a strong understanding of capital markets.

Mr. Huet's previous roles include President, CEO and Director of North American gold miner Klondex Mines from 2012-2018 until its acquisition by Hecla Mining Company (NYSE: HL), Chief Operating Officer of Premier Gold Mines Limited, General Manager at the Hollister mine (while owned by Great Basin Gold) and Mine Manager at the Midas Mine (while owned by Newmont and Franco-Nevada). Mr. Huet earned an Honors degree in Mining Engineering Technology from the Haileybury School of Mines in Ontario, and an Executive MBA from the Stanford University School of Business and has served on several non-profit and publicly traded company corporate boards.

Commenting on the appointment, Golden Horse Chairman and Interim CEO Graeme Sloan said:

"Paul brings to Golden Horse an extensive portfolio of corporate, operational and capital markets expertise, acquired from many years of professional work in the gold industry. His background is marked by a successful track record of developing gold deposits and efficiently steering projects into full production. Paul's strong global network will provide valuable assistance in the growth of the Company and will be a huge windfall for Golden Horse shareholders.

Paul's appointment comes at an important period in the Company's re-structure and growth, especially with the Company's plans for a TSXV and ASX dual listing later this year, early next year. Paul's appointment along with the recently announced appointment of Jonathan Lea as a Non-Executive Director, adds incredible depth to the Golden Horse Board. I look forward to working with Paul, Jonathan and the other Board members as we continue to fast track our exploration and development activities in the highly prospective Southern Cross region of Western Australia.

On behalf of the Board and shareholders, I would like to welcome Paul to the Golden Horse team."

On behalf of Golden Horse Minerals Limited

For more information contact:

Graeme Sloan
Director / Interim CEO
Email: graeme.sloan@goldenhorseminerals.com.au
+61 9322 1788

Josh Conner
Chief Operating Officer
Email: josh.conner@goldenhorseminerals.com.au
+61 9322 1788

Media
David Tasker
Chapter One Advisors
Email: dtasker@chapteroneadvisors.com.au
+61 433 112 936

Investors
Adam Davey
Canaccord Genuity Financial Limited
Email: ADavey@cgf.com
+61 8 9225 2811

Mason Brown
Canaccord Genuity Financial Limited
Email: mpbrown@cgf.com
+61 8 9225 2862

Cautionary Statement on Forward-Looking Information

This release contains "forward‐looking information" or "forward-looking statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to the Company's planned dual listing on the ASX and the Company's exploration and development opportunities. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of gold and other commodities, operating hazards and risks inherent in the resource industry, competition and other risks and uncertainties, including those described in the Company's financial statements and/or management discussion and analysis available on . The Company does not undertake to update forward‐looking statements or forward-looking information, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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