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Ivor Exploration Announces Closing of Private Placement and Welcomes Mr. Michael Gentile, CFA, As Cornerstone Shareholder

Vancouver, British Columbia–(Newsfile Corp. – March 21, 2022) – Ivor Exploration Inc. (CSE: IVOR) (the "Company" or "Ivor") is pleased to announce that,…

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Vancouver, British Columbia–(Newsfile Corp. – March 21, 2022) – Ivor Exploration Inc. (CSE: IVOR) (the “Company” or “Ivor“) is pleased to announce that, further to its news releases of February 23, 2022 and March 7, 2022, the Company has closed a non-brokered private placement of 7,138,570 common shares of the Company (the “Shares“) at $0.35 per Share for gross proceeds of $2,498,499.50 (the “Offering“).

As part of the Offering, Mr. Michael Gentile subscribed for 1,600,000 shares.

David Forest, chief executive officer of the Company, said, “We’re honored to welcome Mr. Michael Gentile as a cornerstone shareholder as we begin work on the Apex uranium project in Nevada and continue exploration at the Ultimate project in British Columbia.”

The net proceeds of the Offering will be used for corporate purposes and on the Company’s properties.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on July 19, 2022.

Certain insiders of the Company acquired Shares in the Offering. The participation by such insiders in the Offering constituted a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Such participation was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the Shares subscribed for by the insiders, nor the consideration for the Shares paid by such insiders, exceeded 25% of the Company’s market capitalization.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

Mr. Gentile, CFA

Michael Gentile is considered one of the leading strategic investors in the junior mining sector, owning significant top 5 stakes in over 20 small-cap mining companies. Michael is currently a strategic advisor to Arizona Metals and a director of Northern Superior Resources, Roscan Gold, Radisson Mining Resources and Solstice Gold. Michael recently co-founded Bastion Asset Management, an investment management firm based out of Montreal, Quebec.

About The Company

Ivor Exploration is focused on identifying and developing new energy resources, including the Ultimate copper-molybdenum project in British Columbia. The Company recently acquired an option to purchase a 100% interest in the Apex project, Nevada, recognized as Nevada’s largest past-producing uranium mine.

FOR FURTHER INFORMATION PLEASE CONTACT: David Forest, Chief Executive Officer, at #1080 – 789 West Pender Street, Vancouver, British Columbia, V6C 1H2, phone: 604-417-2960, email: [email protected].

The CSE does not accept responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Such statements are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available.

To view the source version of this press release, please visit

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