Toronto, Ontario--(Newsfile Corp. - September 26, 2023) - Richmond Minerals Inc. (TSXV: RMD) ("Richmond Minerals" or the "Company") announces that the slate of director nominees described in the management information circular of the Company dated August 11, 2023 (the "Circular"), did not obtain requisite shareholder support at its recent annual and special meeting of shareholders held on September 25, 2023 ("Meeting"), and an alternative slate of directors was elected.

The directors elected include current president, Chief Executive Officer and Director, Franz Kozich-Koschitzky, together with the new directors, Messrs. David Ellis, Peter Lukesch, Thomas Unterweissacher, and Philip Chong. Biographies of the new directors are set out below:

David Ellis, a shareholder and newly appointed director of the Company stated "we hope this action will help us unlock undiscovered value for Richmond Minerals. The new directors are comprised of several experienced individuals who have successfully led a number of other publicly-traded companies. While no two companies are identical, we are excited for this next chapter of Richmond Minerals. We thank the outgoing directors for their service and wish them luck in their future endeavours."

David Ellis, Toronto, Ontario

David Ellis has worked in junior mining for over 30 years providing investor relations for Triorigin, Conquest Resources, Canadian Zinc, Southwestern Resources, Kombat Copper, Harte Gold, Cogitore, and Wallbridge Mining. He worked with Harge Gold for eight years and was involved in the financing, development and construction of the Sugar Zone mine in White River Ontario. Most recently he walked as a consultant to Aurora Statagies Group advising on the takeover of Noront by Whloo Metals.

Peter Lukesch, Pissouri, Cyprus

Peter Lukesch has been an investor and advisor for more than forty years in various industries, predominately the raw materials as well as online education and other sustainable industries serving on the boards of privately and publicly owned companies in Canada, the United States and Europe. Most recently he has managed his family`s holding company Mr. Lukesch holds a doctorate in business and economic sciences from the Economic University in Vienna, Austria.

Thomas Unterweissacher, Austria

Thomas Unterweissacher is the founder and CEO of GEO Unterweissacher GmbH, a European consultant geology firm. He has provided geological and mineral exploration services to a number of private and listed entities for 10 years+. Thomas is an exploration professional with significant experience in lithium, base and precious metals. During his career he intensively worked on vein type gold, magnesite and copper mineralization systems especially within the Eastern Alps. Thomas Unterweissacher is one the leading experts for historical mining in Austria. He holds a doctorate in Applied Geosciences from Montanuniversität Leoben and is entitled as European Geologist (EurGeol).

Philip Chong, Toronto, Ontario.

Philip Chong is a business entrepreneur with more than 33 years of international business experience in various industries, including financial investment, property development, manufacturing, clean energy, internet, life science and food industry. He spent the first 10 years of his career in the banking industry in both Hong Kong and Toronto with responsibilities in project finance, corporate finance, trade finance, M&A and investment banking. He has served on several public and private company boards.

The vote tallies for the directors elected are set forth below:

Other Meeting Business Approved

Richmond Minerals also announces that except as described above, all other business described in the Circular, was approved by the shareholders present, including the consolidation of the existing common shares of the Company on a one (1) for five (5) basis, with 95.8% of the votes at the Meeting in favour.

Appointment of New Officers

The Company also announces that following the initial meeting of the new board of directors, David Ellis has been appointed as President, and Philp Chong has been appointed as Chief Financial Officer of the Company.

About Richmond Minerals

Richmond Minerals Inc. is a mineral exploration company listed on the Toronto Venture Stock Exchange (TSXV: RMD) which has been actively engaged since the early 1980's in exploration projects located in Ontario and Austria.

For information, please contact:

David Ellis, Director
(416) 603-2114

CAUTIONARY STATEMENT: This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that 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, Richmond's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; the ability of Richmond to raise funds; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Richmond's public documents filed on SEDAR. Although Richmond 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. Richmond 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.

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

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