Western Atlas Resources : announces Stock Option and Restricted Share Unit Grants

Western Atlas Resources Inc.

Suite 1700, Park Place

666 Burrard Street

Vancouver, BC V6C 2X8

Western Atlas Resources announces Stock Option and Restricted Share Unit Grants Not for distribution to U.S. news wire services or dissemination in the United States

VANCOUVER, BRITISH COLUMBIA (January 28, 2022) - Western Atlas Resources Inc. ("Western Atlas" or the "Company") (TSXV: WA), announces that pursuant to the Company's Stock Option Plan and Long Term Incentive Plan, a total of 3,350,000 incentive stock options and 1,400,000 restricted share units have been granted to directors, officers, employees and consultants of the Company. The stock options are exercisable at a price of C$0.085 per share for a period of two years, subject to regulatory approval.

About Western Atlas

The Company's common share are listed on the TSX Venture Exchange under the symbol WA. Western Atlas is focused on the acquisition and development of scalable precious metals projects in premier mining jurisdictions. Western Atlas's wholly-owned subsidiary, 5530 Nunavut Inc., holds its interests in the Meadowbank project located in Nunavut, Canada.

For further information, please visit our website at www.westernar.com or contact:

Fabio Capponi, Chief Executive Officer

604-256-4777 or [e-mail]

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals or future plans; the receipt of the requisite approvals with respect to the business and operations of the Company. Forward- looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in Western Atlas's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although Western Atlas believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release,

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Western Atlas Resources Inc.

Suite 1700, Park Place

666 Burrard Street

Vancouver, BC V6C 2X8

and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Western Atlas disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

Reader Advisory

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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