Mountain Boy Minerals Announces 2021 Exploration Program at the Multi-Element Theia Project

• Focus on delineating and extending the high-grade silver trend which produced several grab samples in excess of a kilogram per tonne of silver.
• Detailed review of geophysics, combined with mapping and additional sampling, to be conducted.
• Developing a better geological understanding of the potential of this well-mineralized area.

The 9,028-hectare Theia property is located in the Golden Triangle of British Columbia, 30 km east-southeast of Stewart, BC and 15 km north of the historic Dolly Varden silver mine. There are logging roads within 10 km of the eastern boundary of the claims and the proposed Homestake Ridge Road is 12 km to the west.

Theia shares a southern claim boundary with Hecla Mining Company's ("Hecla") Kinskuch property, which according to Hecla's website (https://www.hecla-mining.com/kinskuch/) hosts potential for the discovery of epithermal silver-gold, gold-rich porphyry and volcanogenic massive sulfide (VMS) deposits. Teuton Resources Corp.'s Konkin Silver property shares a northern claim boundary, where two gold target areas have been defined (http://teuton.com/properties/konkin-silver-property).

Field work by Mountain Boy in 2020 followed up on the high-grade silver occurrences that were identified in the 1990's on the western part of the project as part of a reconnaissance program looking for gold. Since that time, extensive glacial retreat has opened up areas that have not previously been explored. The Mountain Boy geological team confirmed the historic occurrences and extended the mineralized trend to 500 meters. Recent grab samples include the following:

• 39 kg/t silver, 3.45 g/t gold, 45.8% lead,1.25% copper, 2.57% zinc.
• 1.68 kg/t silver, 3.46 % lead, and 2.7% zinc.

(The reader is cautioned that grab samples are selective by nature and may not represent the true mineralization on the property).

The area covered by the present Theia property was first explored in the 1960s by a unit of Kennecott as a copper and molybdenum porphyry prospect. Subsequent work by Bond Gold in the 1990's identified precious and base metal mineralization. The property hosts a variety of styles of mineralization, including several stages of quartz veining and associated vein style mineralization, local sulphide rich breccia zones, local disseminated sulphides associated with veins, dykes and intrusions, and shear hosted precious metals.

This year's program is intended to develop a more comprehensive geological understanding of the several styles and areas of mineralization through detailed mapping and sampling and to develop potential drill targets. The following table highlights some of the surface sample results from the 1994 and 2020 programs (see News Release March 8^th, 2021).

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.

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.
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 recent 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, covering 23,600 hectares, 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 targets.

On behalf of the Board of Directors:

Lawrence Roulston
President & CEO

For further information, contact:

Nancy Curry
VP Corporate Development
(604) 220-2971

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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.