TUKTU RESOURCES ANNOUNCES EXPIRY OF PREVIOUSLY ANNOUNCED FINANCINGS

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CALGARY, AB, Dec. 6, 2023 /CNW/ - Tuktu Resources Ltd. ("Tuktu" or the "Company") (TSXV: TUK) announces the expiry of the private placement financings previously announced in its October 18, 2023 press release (the "Financings") as the Financings were not completed within the timelines prescribed by Part 5A of National Instrument 45-106 ? Prospectus and Registration Exemptions ("NI 45-106") and the policies of the TSX Venture Exchange (the "TSXV").

The Company continues to diligently pursue alternatives to fund the interim purchase price of the previously announced acquisition of certain properties located in southern Alberta and, subject to obtaining acceptable financing (which financing may include the issuance of equity (including an offering of equity pursuant to Part 5A of NI 45-106), debt or other convertible debt instruments), intends to complete the acquisition on substantially the terms previously announced.

Tuktu is an Alberta corporation whose common shares are currently listed on the TSXV under the trading symbol "TUK". For additional information about Tuktu please contact:

Tuktu Resources Ltd.
501, 888 ? 4th Avenue S.W.
Calgary, Alberta T2P 0V2

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

FORWARD-LOOKING INFORMATION ADVISORIES

Certain information contained in the press release may constitute forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable securities legislation that involve known and unknown risks, assumptions, uncertainties and other factors. Forward-looking statements may be identified by words like "anticipates", "estimates", "expects", "indicates", "intends", "may", "could" "should", "would", "plans", "target", "scheduled", "projects", "outlook", "proposed", "potential", "will", "seek" and similar expressions. Forward-looking statements in this press release include statements regarding, among other things:  that the Company will continue to pursue alternative financing sources; the type of financing that the Company may pursue; that the Company intends to complete the acquisition; and other similar statements. Such statements reflect the current views of management of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions that could cause results to differ materially from those expressed in the forward-looking statements. With respect to forward-looking statements contained in this press release, the Company has made assumptions regarding, among other things: that the Company will be able to obtain funding on commercially reasonable terms, that the Company will be able to successfully complete the acquisition on substantially the terms contemplated. Factors that could cause actual results to vary from forward-looking statements or may affect the operations, performance, development and results of the Company's businesses include, among other things: the risk that Company may not be able to obtain funding on commercially reasonable terms and within the time frame required to complete the acquisition; the risk that the Company will not complete the acquisition and obtain the benefits of the acquisition on substantially the terms contemplated; and risks associated with the costs of completing the acquisition; and such other similar risks and uncertainties. The impact of any one assumption, risk, uncertainty or other factor on a forward-looking statement cannot be determined with certainty, as these are interdependent and the Company's future course of action depends on the assessment of all information available at the relevant time.

The forward-looking statements contained in this press release are made as of the date hereof and the parties do not undertake any obligation to update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

SOURCE Tuktu Resources Ltd.