• Detailed mapping and channel sampling has highlighted an extended mineralized zone.

• Drilling to start by mid-August.

Vancouver, British Columbia–(Newsfile Corp. – August 4, 2021) – Mountain Boy Minerals Ltd (TSXV: MTB) (OTCQB: MBYMF) (FSE: M9UA) ("Mountain Boy" or the "Company") announces that detailed mapping as well as channel sampling on the BA project is underway in support of drilling which is anticipated to begin before month-end.

The BA Project is a 10,658-hectare project located in the Golden Triangle of British Columbia. The project lies 18 kilometres north-east of Stewart and the paved highway 37A and a high voltage electrical transmission line run through the northern end of the property through the Bear River valley. The project is located 29 kilometres by road to the deep-water seaport in Stewart.

The upcoming drill program targets the northern extension of the mineralized horizon that was drilled between 2007 and 2010. The historic drilling delineated substantial near surface silver-lead-zinc mineralization extending over 610 metres striking NNE. Since the historic drilling, receding glaciers at the northern end of the zone have exposed further mineralization at surface. This mineralization has now been sampled in three channel sampling campaigns extending the zone of mineralization to at least 700 metres.

Select results from the previous channel sampling programs are listed in Table 1 below.

Table 1- Select results from channel sampling programs on the northern extension of the Barbara Zone.

American Creek Project Update

Drilling began on the 27^th of July on the American Creek project. The drill has now completed 5 holes off the first drill pad targeting the High-Grade zone. The drill is being moved to the second pad, targeting the High-Grade extension, located 300 metres to the north.

About Mountain Boy Minerals

Mountain Boy has six active projects spanning 604 square kilometres (60,398 hectares) in the prolific Golden Triangle of northern British Columbia.

1. The flagship American Creek project is centered on the historic Mountain Boy silver mine and is just north of the past producing Red Cliff gold and copper mine (in which the Company holds an interest). The American Creek project is road accessible and 20 km from the deep-water port of Stewart.

2. On the BA property, 178 drill holes have outlined a substantial zone of silver-lead-zinc mineralization located 4 km from the highway. Work this year is aimed at extending that zone.

3. Surprise Creek is interpreted to be hosted by the same prospective stratigraphy as the BA property and hosts multiple occurrences of silver, gold and base metals.

4. On the Theia project, work by Mountain Boy and previous explorers has outlined a silver bearing mineralized trend 500 meters long, highlighted by a 2020 grab sample that returned 39 kg per tonne silver (1,100 ounces per ton).

5. Southmore is located in the midst of some of the largest deposits in the Golden Triangle. It was explored in the 1980s through the early 1990s, and largely overlooked until Mountain Boy consolidated the property and confirmed the presence of multiple occurrences of gold, copper, lead and zinc.

6. The Telegraph project, acquired in May 2021, has a similar geological setting to major gold and copper-gold deposits in the Golden Triangle.

Mountain Boy is funded for the coming field season and plans to advance these projects, including drilling on select project(s).

The technical disclosure in this release has been read and approved by Andrew Wilkins, B.Sc., P.Geo., a qualified person as defined in National Instrument 43-101.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain certain "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92003