York Harbour Metals Drills High-Grade Intercept of 8.97 Metres of 4.7% Copper, 10.2% Zinc, and 22.7 gpt Silver in a New Area Adjacent to Previous Mine Workings

Toronto, January 24, 2023 - York Harbour Metals Inc. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE0) (the "Company") is pleased to announce drill core assay results for thirty-eight of forty-two holes from its 2022 Phase 4 drill campaign at its high-grade Copper-Zinc Project (the "Project"), located 27 km west-northwest of Corner Brook, Newfoundland.

Highlights

Significant Drill Intercepts

• The highest grade of copper-zinc drill intercept to date in the A Zone intersected above and parallel to the old mine workings which were approximately 20 metres from where the historic mineralization was mined between 1897 to 1913. The new area in the A Zone adjacent to the old mine workings returned grades comparable to historical direct-shipping mined mineralization. (Messina 2010)
  • DDH YH22-107 intersected 8.97 m at 4.727% copper, 10.195% zinc, 22.69 gpt silver and 91.49 gpt cobalt (in the new area of the A Zone).
• Extending Mineralization of H Zone
  • Drill hole YH22-78 and YH22-71 continues to extend mineralization of the H Zone which remains open for expansion at depth.
  • DDH YH22-78 intersected multiple intercepts of mineralization, with the most significant being 8.80 m of 3.228% copper, 0.123% zinc, 3.90 gpt silver and 270.72 gpt cobalt from 190.2 to 199.0 m.
  • DDH YH22-71 intersected 20.5 metres of mineralization grading 1.298% copper, 0.053% zinc, 0.78 gpt silver and 118.47 gpt cobalt.
• Additional follow-up/infill drilling
  • DDH YH22-072 was drilled to test beneath the high grade DDH YH21-24 (see below) and intersected three zones of 9.38 m (181.9 to 191.28 m) grading 3.325% copper (including 2.10 m grading 10.089% copper and 670.03 gpt cobalt), 12.80 m (202.2 to 215.0 m) grading 0.315% copper and 4.30 m (230.0 to 234.3 m) grading 0.419% copper.
  • Previously drilled DDH YH21-24 intersected 5.25% copper, 436.5 g/t cobalt, 8.97 gpt silver, and 0.801% zinc over a drilling length of 29.0 metres, but the hole was terminated due to ground conditions - the last sample intersecting 0.2m grading 11.9% copper (see March 26, 2022 news release).
  • DDH YH22-082 intersected a wide intercept of 12.25 m grading 2.472% copper, 8.404 % zinc, 18.41 gpt silver and 85.47 gpt cobalt in the D Zone.

The above intercepts are drilling lengths, not true widths, since the true thickness of the mineralization has not yet been established.

Bruce Durham, President and CEO commented: "The Phase 4 drilling from York Harbour, continues to produce great results and with these new results in hand we are ready to restart drilling operations to further delineate the mineralized areas drilled to date and also to test priority targets the property that we have identified."

Fig. 1: Plan of Phase 4 Drill Hole Traces

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Table 1: Phase 4 Diamond Drill Hole Mineralized Intercepts

Note: All Intercept Lengths are drilling lengths, not true widths since the thickness of the mineralization has not yet been fully established. Minimum Intercept Cut-off at approximately 3 m and 0.25 % Copper except where drill holes intersected underground workings.

QA/QC Procedures

Phase 4 diamond drill core samples were sawn in half lengthwise from core lengths usually varying from 0.3 to 1.50 m, depending upon geological and mineralogical constraints. Blank, duplicate and standard quality control ('QC') samples were inserted into the sample string at a rate of approximately one each for every fifteen samples. A total of 319 QC samples were inserted into the assay string of 1,924 drill core samples. These 2,243 samples of massive, semi-massive and stringer mineralization, plus QC samples insertions, were initially delivered SGS Laboratories in Burnaby, BC and later to Eastern Analytical Laboratories in Springdale, NL, both ISO/IEC-accredited laboratories. There the drill core samples were crushed to 80% minus 10 mesh, split into representative sub-samples and then pulverized to at least 95% minus 150 mesh before collecting sub-sample pulps for each of the core samples.

All sub-sample pulps were initially analyzed using ICP procedures. Samples are analyzed with a minimum of 10 lab-certified reference materials. Based upon the initial ICP results, any sample returning predetermined over-limit values, specifically for copper, zinc, silver and cobalt, was split and assayed using conventional fire assay procedures with an atomic absorption finish ('FA/AA'). Following receipt of the analytical and assay results, approximately 5 per cent of the sample pulps will be shipped to ALS Laboratories for check analyses and/or assays.

Qualified Person

Doug Blanchflower, P. Geo. (BC, NL), a Director of York Harbour Metals and 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) is an exploration and development company focused on the York Harbour high-grade Copper-Zinc Project that includes a past-producing mine situated approximately 27 km west-northwest of Corner Brook, Newfoundland. The Company has core drilled approximately 19,260 metres since July 2021 to confirm and extend the footprint of the high-grade copper-zinc mineralization within the Main Mine area. The Company plans to continue core drilling to test known volcanogenic massive sulphide targets within the expanded Main Mine area. Drilling is also planned to test targets interpreted from the recently completed Induced Polarization geophysical survey that covered much of the property and that has confirmed the exploration potential of the Main Mine area as well as the potential for similar mineralization to occur in the No. 4 Brook, Pinnacle Pond, and the Sea-Level adit mineral showing areas. The Company is currently awaiting permits to access the 4-Level Adit which once approved, could provide access to over 1,280 metres of underground workings.

The Company is awaiting the closing of the acquisition of the recently announced Bottom Brook Rare Earth project near Stephenville, Newfoundland. (News release December 21, 2022).

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,

Bruce Durham
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

Neither the 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 news release.

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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