TORONTO, April 12, 2023 – High Tide Resources Corp. (“High Tide” or the “Company”) (CSE: HTRC) is pleased to announce the appointment of Michael T. Zurowski P. Eng to the role of Executive Vice President.

Steve Roebuck, Director, President & Interim CEO of High Tide states, “We are very pleased to welcome Michael to the team. He brings an incredible amount of technical, executive and regulatory experience to High Tide having been a founder and senior executive with Baffinland Iron Mines Corporation for almost 15 years. Michael was one of three co-founders of Baffinland and has built and operated an iron mine in Canada and has developed high-level expertise in the iron, alternative iron and steel industry as it rapidly transitions to a low carbon emission future. Effective immediately, Michael will support and lead the exploration and development of the Company’s flagship Labrador West Iron Project.”

Michael T. Zurowski, Executive Vice President of High Tide states, “I am pleased to join High Tide and excited about the Labrador West Iron Project.  The project ticks many boxes including a robust deposit located in a producing iron camp and close to infrastructure which is absolutely critical for project development. For the past 25 years, iron and steel growth has been driven by demand from China, however the future will focus on steel production with low-carbon emissions with expected high-demand growth from markets in North America, Europe, the Middle East and Asia.  Our work will focus on developing the Labrador West Iron Project into the next producer, designed for the industry’s low carbon emission future.”

About Mr. Michael T. Zurowski

Mr. Zurowski has almost 40 years experience in the mineral exploration and mining industry as both an engineer and executive. His career spans the globe having worked for major mining companies as well as a consultant. During that time Michael has managed multi-million-dollar exploration budgets and assisted in the raising of $750 million in equity and debt for the construction of a world class iron ore project.

Labrador West Iron Project

The Labrador West Iron Project hosts a NI 43-101 inferred iron resource of 659 Mt @ 28.84% Fe and is comprised of one mineral licence (99 mineral claims), 2,475 hectares in size. The area was explored and drilled by Rio Tinto Exploration from 2010 to 2012, and then by High Tide Resources in 2020 & 2022. To date, approximately 7,500 m of core in 27 completed holes has been drilled on the property. Located less than 20 kilometres northeast of Labrador City, the Project is proximal to all the critical infrastructure required to explore and develop a major new iron deposit in the heart of the southern Labrador Trough. Experience by major producers operating in the Labrador Trough indicates that hematite and magnetite in this geological setting are readily recoverable using modern, industry standard beneficiation methods, that produce high purity, desirable iron concentrates.

Iron and the Western Labrador Trough Infrastructure Advantage

The Labrador Trough of western Labrador and adjoining Quebec constitutes Canada’s primary iron producing district and is host to world-class deposits that have been mined for more than half a century. These have produced over 2 billion tonnes of iron ore to date and are considered to have very significant growth potential. The high quality of the deposits in the region allows for a wide range in product diversity, which includes premium fines, concentrate and pellet grades.

The Property is strategically located near the mining communities of Wabush and Labrador City in the province of Newfoundland & Labrador and Fermont in Quebec. The area is home to Champion Iron Ore’s Bloom Lake Mine, ArcelorMittal’s Mont-Wright Mine, Tacora Resources’ Scully Mine, and Rio Tinto IOC’s Carol Lake Mine.

The Wabush and Labrador City region is very well served with skilled labour and a highway as well as access to abundant low-cost hydroelectricity and a common carrier railway. The railway has 80 million tonnes per year of capacity for transport of iron products to the deep-water port of Sept Isles, Quebec, which provides year-round access to global markets.

About High Tide

High Tide is focused on and committed to the development of mineral projects critical to infrastructure development using industry best practices combined with a strong social license from local communities. High Tide owns a 100% interest in the Labrador West Iron Project which hosts a NI 43-101 Inferred iron resource of 659 Mt @ 28.84% Fe and is located adjacent to IOCC’s Carol Lake Mine in Labrador City, NL. This resource is exposed at surface and was pit constrained for an open-pit mining scenario. The Technical Report was filed on SEDAR on April 6, 2023 and was authored by Ryan Kressall M.Sc., P.Geo, Matthew Herrington, M.Sc., P.Geo, Catharine Pelletier, P.Eng. and Jeffrey Cassoff P.Eng.

The Company also owns a 100% interest in the Lac Pegma copper-nickel-cobalt deposit located 50 kilometres southeast of Fermont, Quebec and is earning a 100% interest in the road accessible Clearcut Lithium Project located ~75 kilometres southwest of Val d’Or, Quebec and the road accessible Big Bang Lithium Project located ~275 kilometres northeast of Thunder Bay, Ontario. Majority shareholder Avidian Gold (TSX.V: AVG) controls approximately 30% of High Tide’s outstanding shares.

Further details on the Company, including a NI 43-101 technical report on the Labrador West Iron property can be found on the Company’s website at www.hightideresources.com .

Qualified Person

The technical information contained in this news release has been approved by Steve Roebuck,

P.Geo., Director, President and Interim CEO of High Tide, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

For further information, please contact:

Steve Roebuck

Director, President & Interim CEO

Mobile: (905) 741-5458

Email: moc.secruoseredithgih@kcubeors  

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

Forward looking information

This news release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, developing the Labrador West Iron Project into the next producer , the acquisition of low cost and potentially high reward lithium projects, the ability to keep exploration costs low, expected access to regional lithium processing hubs, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to: the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, failure to receive requisite approvals in respect of the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.