Caravan Energy Corp. announced that the Company has completed Phase 1 explora on work program on its EBB Property located in Bri sh Columbia, Canada. The work program commenced during the period from April - June 2023 and included prospec ng, mapping, sampling and ground geophysical surveying.

A total of 88 rock and 193 soil samples were collected during this work and were shipped to ALS Laboratories in North Vancouver, B.C., which is an independent accredited laboratory in Canada. The work also included 13.5-line kilometres of ground magne c and very low frequency (VLF) surveys. Work Program Descrip on.

Prospecting, Mapping, Sampling and Geophysical Surveys. Based on historical and 2022 exploration work on the Property, the following target areas were identified in the Technical Report and were recommended for follow up work on the Property: i. 2022 soil sampling work indicated coincidental silver, nickel and cobalt anomaly on the eastern part of the soil survey area. The soil sampling grid was extended.

Results obtained from MAG/VLF lines in the survey grid indicate four target areas A, B, C, and D. These areas were followed up through further sampling.iii. The upper reaches of the Property were not covered by ground prospecting and sampling work in 2022 due to snow cover. These areas were also covered during the current work.