• Denis Laviolette will become Executive Chairman and CEO to lead EarthLabs in its next stage of growth, Vincent Dubé Bourgeois will become President and remain a director of the Company
• Mathew Wilson, CFA joins EarthLabs as Chief Investment Officer
• Board size reduced to 4 comprised of Denis Laviolette, Vincent Dubé-Bourgeois, Gerry Feldman & Jay Sujir.
• New investor presentation now available on Earthlabs.com

Toronto, Ontario--(Newsfile Corp. - March 3, 2023) - EarthLabs Inc. (TSXV: SPOT) (OTCQX: SPOFF) ("EarthLabs" or the "Company"), a leading mineral exploration technology and investment company, announced today a corporate update on the Company's growth initiatives for 2023 as well as management and board changes to align with our new strategic objectives. These changes are aimed at better positioning EarthLabs to achieve its goals and maximize shareholder value across the investment, royalty, and media technology divisions.

Appointment of Denis Laviolette as Executive Chairman and CEO

The Company is pleased to announce that effective immediately, Denis Laviolette, EarthLabs' founder and Executive Chairman will become Executive Chairman and Chief Executive Officer of EarthLabs.

Denis has played a crucial role in driving the Company's growth and development and has been an integral part of EarthLabs' management and board since the Company's inception. With over 15 years of experience in mining and capital markets, and extensive exploration geology work in Timmins, Kirkland Lake, Red Lake, Norway, and Ghana, he brings a wealth of knowledge and expertise to his role as CEO. As a co-founder of EarthLabs and New Found Gold Corp. among other industry plays, Denis has demonstrated a strong track record of success in the mining industry. Effective immediately, Vincent Dubé-Bourgeois will step down as CEO and become President of EarthLabs.

"I am honored to take on this role and committed to driving the growth and success of EarthLabs," said Denis Laviolette. "Vincent played an integral role for us as CEO of GoldSpot, overseeing the growth of the consulting division, resulting in the accretive divestiture last year. I am pleased that he remains with EarthLabs as President and a valued member of our board. More than six years ago, we set out to change the mining industry by integrating artificial intelligence and Quantamental investing practices into the inefficient exploration process. Looking ahead, I could not be more excited with the position we have put ourselves in. We will take advantage of these turbulent times and continue to grow on the clear value creating momentum we have garnered since our start-up days. I look forward to leading the Company as we work to realize that potential."

Evolution to a Tier 1 Mining Technology and Investment Issuer

On February 16, 2023, EarthLabs announced that the Company had received shareholder and exchange approval to complete a change of business from a Tier 1 Technology Issuer to a Tier 1 Technology/Investment Issuer. The principal operations of the Company currently consist of three business lines, all created to give shareholders maximum exposure to the resource sector:

• Investments (Resource Quantamental Corp.)
• Royalties
• Media (CEO.CA Technologies Ltd./DigiGeoData Inc.)

On a going forward basis, EarthLabs will strategically invest in the securities of other issuers and may dispose of some or all of the existing or additional securities it holds or continue to hold its current investment positions. Concurrently, EarthLabs owns royalty exposure on 21 projects and is the largest royalty holder in Newfoundland with coverage of 2,489.52 km2, including a 0.2% NSR on New Found Gold's Queensway project. Lastly, EarthLabs plans to address the inefficiency of the mining capital markets by leveraging its media platforms by educating investors and sharing knowledge and insights on mining sector and investments.

"At EarthLabs, we understand the importance of dedicated investment capital in the metals and mining industry to maximize long term performance," said Denis Laviolette. "We have a proven track record in structuring deals, creating value and raising capital and will use our past experience and robust deal flow to provide our shareholders maximum leverage to what we believe will be a long-term bull market in the metals space."

The Company's media technology assets CEO.CA and DigiGeoData serve to provide unrivalled distribution for our investee companies with initiatives planned throughout 2023 to expand the visibility of the portfolio.

2023 growth initiatives for CEO.CA include:

• Increase 2.3M unique annual users by enhancing experience with new tools and resources rolling out throughout Q1/Q2 including 50,000 U.S. and foreign listed company channels, new chat features, built in technical charts powered by TradingView, a full-text searchable SEDAR research dashboard and more, to help users stay informed, connected, and engaged with the global investment community;
• Increase pages per visit metric (3.88) through written and video content; and
• Increase ad revenues by hiring dedicated sales team to market CEO.CA corporate sponsorships and ad optimization.

2023 growth initiatives for DigiGeoData include:

• Develop the 'Atlas' platform, a software-based GIS interactive mapping interface alongside its 'Maps' distribution business. This subscription-based intelligence software will integrate geo-spatial, financial and industry-based datasets for both mining issuers and investors alike to track the market with real-time indicators and technical signals. DigiGeoAtlas currently has 55 senior producers and junior mineral explorers enrolled in its initial pilot program;
• Plans to incorporate DigiGeoAtlas into CEO.CA with tiered services; and
• Continue sales in physical map business across conference circuit and digital maps expansion.

Appointment of Mathew Wilson as Chief Investment Officer

In line with the evolution of the investment division, EarthLabs is pleased to announce that Mathew Wilson has been appointed to the role of Chief Investment Officer.

Mathew has spent nearly 15 years as an active venture investor and executive. Over the last 7 years Mathew has founded and led venture exploration companies through mine restarts, exploration programs, project sales and new asset acquisitions on 2 continents. Prior to running venture companies, Mathew was Vice President at Pinetree Capital, a diversified investment fund focused primarily on the small cap mining sector. Mathew has also acted as CEO for private venture capital technology companies and as a director for public TSX Venture listed companies. Mathew holds a Masters in Finance from Queens University and is a CFA Charterholder.

With the addition of Mathew, EarthLabs' senior leadership team has over 50 years of portfolio management at the largest resource funds in Canada and a successful track record of originating, structuring, and exiting deals with over $1 billion in value created and $300 million in shareholder funds raised.

Board of Directors Update

The Company also reports the resignation of James Dendle as Director of the Company effective immediately, in order to concentrate on his principal occupation as Senior Vice President, Corporate Development at Triple Flag Precious Metals Corp. Mr. Dendle was nominated onto the Board pursuant to the terms and conditions of a nomination agreement between the Company and Triple Flag Precious Metals Corp dated January 29, 2019. The Company wishes Mr. Dendle every success in his future endeavors.

"On behalf of our Board and the management team, I would like to thank James for his exemplary service and contributions to EarthLabs' business, financial stewardship, capital markets and corporate governance during the past 3 years since he joined the Company," said Denis Laviolette.

Following the resignation of Mr. James Dendle, the board of directors of the Company (the "Board") will be comprised of four members, including two independent non-executive directors and two executive directors.

Investor Presentation

EarthLabs has released an updated investor presentation that provides an overview of our technology and investment portfolio. This presentation is now accessible on the investor relations section of our Company's website EarthLabs.com.

About EarthLabs, Inc.

EarthLabs, Inc. (TSXV: SPOT) (OTCQX: SPOFF) is a mining investment and technology company that aims to maximize torque to the junior resource sector with $50M in cash and investments, a royalty portfolio and a full suite of data-driven media SaaS tools and services, including CEO.CA, the largest social media platform for resource investors, and DigiGeoData, a software-based interactive mapping interface which provides earth modeling, geology data management, and specialized financial products.

For more details about EarthLabs and its investments, please visit our website at EarthLabs.com.

For further information please contact:

Denis Laviolette
Executive Chairman and CEO
EarthLabs, Inc.
Tel: 647‐345‐7768
Email: investors@earthlabs.com

Neither the TSX Venture Exchange ("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. Cautionary Statement on Forward‐Looking Information.

Cautionary Statement on Forward-Looking Information

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which 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, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company 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. The Company 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156983