York Harbour Metals Provides an Update on Phase 3 Drilling and Exploration Results

Phase 3 Exploration Highlights

• Completed 28 NQ-size diamond drill holes totaling 4,980 metres;

• 66 diamond drill holes for a total of 10,764 metres completed since July 24th, 2021;

• Long delays at the assay laboratories;

• Analytical and assay results from Phase 3 drilling program expected shortly;

• All Phase 1 and 2 drill core sample results have been reported;

• Encountered multiple zones of copper- and zinc-rich mineralization with attendant silver and cobalt within the Main Mine Area; and

• Phase 3 drilling results, based upon the visually observed VMS mineralization, will both confirm the earlier drilling results and extend the drill indicated mineralization both along strike and downdip.

The analytical results from the Phase 1 and 2 drilling programs suggest that there may be several stratiform layers of volcanogenic massive sulphide ("VMS") mineralization, some more copper-rich and others more zinc-rich. Also, given the structural setting within the property there is good potential for structurally repeated zones of VMS mineralization within the favourable stratigraphic contact and across the width of the folded synform. Detailed advanced geophysical surveying and follow-up exploration drilling will facilitate assessing the property's excellent exploration potential.

Bruce Durham, Chairman, commented, "Phase 1 & Phase 2 drilling programs have successfully identified, delineated, and discovered several copper-rich and zinc-rich mineralization lenses in the Main Mine Zone. The systematic drilling in Phase 3 was to infill the Main Mine Zone and begin our expansion of the 400-metre strike length. With the Permit in place, we can aggressively continue our drilling program to further expand both along strike and at depth."

The following Table 1 documents a visual volumetric estimate of pyrite, chalcopyrite and sphalerite contents within various Phase 3 drill hole intercepts. These estimates were observed and reported in drill hole logs by the onsite project geologist. They are subject to detailed analyses and assaying, and do not represent anticipated copper or zinc grades within the mineralized intercepts. This work is ongoing, and a complete analysis and interpretation of the data have not yet been completed.

Table 1: Visual Volumetric Estimates of Pyrite, Chalcopyrite and Sphalerite in Phase 3 Drill Intercepts

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Note: The chalcopyrite mineral is comprised of approximately 34% copper, and the sphalerite mineral may be comprised of up to 64% zinc depending upon the substitution of iron for zinc.

Figure 1: Location plan of Phase 1, 2 and 3 Diamond Drill Holes

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Table 2: Highlight Drill Hole Intercepts from the Phase 2 Drilling Program

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Note: Intervals are drilling lengths, not true widths which still have to be established.

Please download and review Table 10-4 from NATIONAL INSTRUMENT 43-101 TECHNICAL REPORT on the YORK HARBOUR PROPERTY, March 14th, 2022 that summarizes those mineralized intercepts in drill holes YH21- 10 to YH21-38 from Phase 2 with observed sulphide mineralization logged by the project geologists. Link https://tinyurl.com/262ha6zk

Volcanogenic Massive Sulphide Mineralization (VMS)

Volcanogenic massive sulphide mineralization occurs along and near the stratigraphic contact between Lower and Upper Basalt rock units, hosted by fragmental and tuffaceous basaltic volcanoclastic rocks. The mineralization is typical of mafic-type, flow-dominated or Cyprus-type volcanogenic massive sulphide mineralization. This volcanic sequence has been interpreted to be a synform which is slightly overturned eastward. The synclinal fold closes within the Company's southern property boundary and trends north-northeasterly across the Bay of Islands.

The VMS mineralization is characterized by massive to semi-massive lenses of chalcopyrite, sphalerite, and pyrite with minor pyrrhotite and occasional base-metal oxides. Higher cobalt values are commonly associated with the more copper-rich mineralization while the silver values are spatially associated with both copper- and zinc-rich mineralization. Drilling intercepts of VMS mineralization within the Main Mine Area range from less than 1 m to a recently drilled length of 29 metres.

Figure 2: Massive VMS mineralization in Drill Hole YH22-39 from 143.37 to 151.8 m

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Figure 3: Massive VMS mineralization from 156.32 to 158.08 m within Drill Hole YH22-44

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Figure 4: Massive VMS mineralization within Drill Hole YH22-54

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Qualified Person

J. Douglas Blanchflower, P. Geo. (BC and NL), a Director of York Harbour Metals Inc., and a Qualified Person in accordance with National Instrument 43-101, has reviewed and accepted the technical material contained in this news release.

About the Company

York Harbour Metals Inc. (TSXV: YORK) (OTCPK: YORKF) (Frankfurt: 5DE0) (formerly Phoenix Gold Resources and TSXV: PXA & OTCPK: PGRCF) is an exploration and development company focused on the York Harbour Copper-Zinc-Silver Project, a mineral property located approximately 27 km from Corner Brook, Newfoundland. The Company plans to continue drilling the strike and depth extents of Main Mine area and test the other massive sulphide targets, like the No 4 Brook showing, while focusing on gaining access to the 400-level and Sea Level adits.

For more information on York Harbour Metals please contact info@yorkharbourmetals.com Tel: +1-778-302-2257 or visit the website at www.yorkharbourmetals.com for past news releases, media interviews and opinion-editorial pieces by management.

On Behalf of The Board of Directors,

Andrew Lee

CEO, President, and Director

Telephone: 778-302-2257 | Email: andrew@yorkharbourmetals.com

Website: www.yorkharbourmetals.com

1518 - 800 Pender Street W, Vancouver, BC, Canada V6C 2V6

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Cautionary Statement Regarding Forward-Looking Information

This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company's mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

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