Mijem Newcomm Tech : News release

Mijem Newcomm Tech Inc. Announces Granting of Stock

Options

Toronto, Ontario, August 2, 2023 - Mijem Newcomm Tech Inc. (CSE: MJEM) ("Mijem" or the "Company"), a technology and social networking company, today announced that the Company has granted 2,475,000 incentive stock options (the "Options") pursuant to its Stock Option Plan. Each Option entitles the holder to purchase one common share of the Company at an exercise price of $0.05 for a period of five years from the date of grant. The Options include 1,375,000 Options for directors of the Company, 250,000 to an investor relations firm and 850,000 Options for consultants to the Company.

About Mijem Newcomm Tech Inc.

Mijem is a Canadian-based technology and social networking company that provides innovative solutions for Generation Z to save or make money.

For further information, please contact: Stephen Coates

Chief Executive Officer Mijem Newcomm Tech Inc. [e-mail]

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward- looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".

Forward-looking information in this news release is based on certain assumptions and expected future events. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place

undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.