EARLY WARNING NEWS RELEASE FOR DIETER PETER, PRESIDENT AND CEO OF MINERAL HILL INDUSTRIES AND MERFIN MANAGEMENT LIMITED

Toronto: TSX-V: MHI
Frankfurt: MLN/WKN: A1JKJN
OTC Market (US): MHIFF

VANCOUVER, BC, Aug. 8, 2024 /CNW/ - Dieter Peter, president, chief executive officer and a director of Mineral Hill Industries Ltd ("MHI" or "Company") and Merfin Management Limited ("MRF"), private holding company's and MHI's current controlling shareholder, has executed on August 6, 2024 a letter of intent (the "LOI") with Instant Finance and Consulting AG ("IFCAG") whose controlling shareholder and representative is Mr. Boris Vrabec for the possible private sale of 11,383,795 common shares of MHI held by MRF (the "MRF/MHI-Shares"), representing a control position of MHI's outstanding share capital, at a price of $0.022 per MRF/MHI-Share.

IFCAG is a private company incorporated and existing under the laws of Switzerland of which Mr. Boris Vrabec is a member of IFCAG's "Verwaltungsrat".

IFCAG, either directly or through its subsidiaries provides independent advice and provision of all services internationally, in particular within the entire insurance, fiduciary, financial, financial and administrative sectors and has entered into acquisition and significant financing agreements to acquire and finance substantial precious mineral projects and has assembled a highly qualified exploration and mining team.

MHI has currently 21,324,807 common shares ("MHI-Shares") outstanding of which MRF presently owns 11,383,795 MHI-Shares representing 53.38% of the Company's issued and outstanding securities.

The share transfer of the MRF/MHI-Shares from Mr. Peter to IFCAG will create a new control person and result in a change of control under the Policies of the TSX Venture Exchange, and will require the approval of disinterested shareholders of the Company and acceptance by the TSX Venture Exchange.  As the Company had already announced on June 21, 2024 its upcoming Annual General and Special Meeting (the "AGSM") to be held on August 20, 2024, sometime before the LOI was finalized, the Company will be seeking disinterested shareholder approval of the transfer of the MRF/MHI-Shares from Mr. Peter to IFCAG at the AGSM. This matter will be brought before the AGSM under item 6 "transaction of further business" of the Notice of the AGSM.

Disinterested shareholders previously unanimously approved a "change of control" to Echos Holding AG ("Echos") via a "Call Option" pertaining to a control block of MHI-Shares owned by MRF, at the

Company's Special Shareholders Meeting held on February 21, 2023. The Call Option to Echos was not exercised and expired in 2023 and there was no "change of control" of MHI's share capital.

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

The Company seeks Safe Harbor.

SOURCE Mineral Hill Industries Ltd.

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