Toronto, Ontario--(Newsfile Corp. - January 25, 2023) - Idaho Champion (CSE:ITKO) (OTCQB:GLDRF) (FSE: 1QB1) ("Idaho Champion" or the "Company") is pleased to announce that the Company signed Binding Letters of Intent (the "LOIs" or "Acquisition") to acquire prospective properties in the pegmatite-rich Eeyou Istchee James Bay territory of Quebec. The prospective properties are adjacent to the previously acquired Blanche and Charles Projects and are comprised of 235 claims (See Figure 1).

Idaho Champion now controls 522 contiguous claims covering 283.13 km² (See Figure 2) in the La Grande Greenstone Belt, rich in lithium pegmatite and including Patriot Battery Metals' ("Patriot") Corvette Project which recently intersected 156.9 m at 2.12% Li2O (176.4 m to 333.4 m), including 25.0 m at 5.04% Li2O or 5.0 m at 6.36% Li2O (CV22-083)*. All Idaho Champion properties have good infrastructure, including power and road access.

"We have received valuable feedback from the recently completed desktop study of Blanche and Charles, which prompted our pursuit to increase our land package in the area. The new properties include prospective exploration targets which will be worked into our exploration plans for 2023. Armed with a contiguous large position along the La Grande Greenstone belt, rich in lithium pegmatites, we believe we now have an immediate opportunity for a discovery of magnitude," commented Jonathan Buick, President and CEO.

As part of the LOIs, Idaho Champion will acquire 235 claims for cash consideration of $70,000, 7,500,000 common shares of the Company, and 250,000 warrants priced at CAD$0.15 for two years from the date of signing of the Definitive Purchase and Sale Agreement and claims transfer. The Vendors will retain a 2% net smelter royalty ("NSR"). The Company has the option to repurchase 1% of the NSR from the Vendors for $1 million. Subject to closing, the Company will issue 445,000 common shares of the Company in connection with Finder's Fees. Closing of the acquisition is subject to all the required regulations, including a 45-day due diligence period and regulatory and stock exchange approval.

*The Projects are at an early stage of exploration, and the Company cautions that the qualified persons who have reviewed and approved this news release have not verified scientific or technical information produced by third parties, and proximity to projects containing lithium resources offers no assurance that the rock types or lithium resources reported by Patriot and others extend onto the Projects and such proximity is not necessarily indicative of the mineralization reported by third parties with projects in the district.

The Company's shares trade on the CSE under the trading symbol "ITKO", on the OTCQB under the trading symbol "GLDRF", and on the Frankfurt Stock Exchange under the symbol "1QB1". Idaho Champion strives to be a responsible environmental steward, stakeholder and contributing citizen to the local communities where it operates, taking its social license seriously, employing local community members and service providers at its operations whenever possible.

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company, including suggested strike extension. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.