Golden Birch Resources Inc. Commences Drilling at Waki Copper-Gold Prospect on the Keveri Project and Changes Name to PNG Copper Inc.

Timmins, Ontario--(Newsfile Corp. - August 10, 2021) - Golden Birch Resources Inc. (CSE: GBRX) ("Golden Birch" or the "Company") is pleased to announce that drilling has begun on the Copper-Gold Porphyry Waki Target at the Keveri Project, PNG.

A 3,000 m drill program is designed to test the three drill-ready Copper-Gold Porphyry targets, Waki, Urua and Omu along with a nickel target, Doriri. The program will test geophysical targets, existing trenches and further investigate some historical shallow drill holes. Completion of this program will allow the Company to earn-in 51% of the company that owns the exploration licenses. The drill program is planned to be completed by late November 2021.

Figure 1: Shows 4 drill ready targets, Waki, Urua, Omu and Doriri with other prospects on the two Exploration Licences EL 2391 and 2560 which Company has an Option Agreement.

To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8090/92697_1efcb96d74413acb_001full.jpg^[1]

Figure 2: Location of the initial Hole at Waki in the vicinity of two high grade outcrop samples, ref#109080 and 109257. Two 250 m holes are planned for Waki in this drill program.

To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8090/92697_img2.jpg^[2]

The site of the first hole (Figure 2) is collared near high grade rock chip samples associated with the presence of an interpreted large hydrothermal magnetite zone identified by Golden Birch in 2019 by 3D modelling of the airborne magnetic survey data from Papuan Precious Minerals Ltd in 2010. The interpreted hydrothermal magnetite zone is suggestive of a potential mineralized intrusion at depth and a brecciated zone with high grade copper and gold outcrops and comprises one of the three main copper porphyry drill targets on the Keveri Property.

Corporate Name and Symbol Change on CSE

The Company is also pleased to announce that it has filed articles of amendment to change its name to PNG Copper Inc. and will commence trading on the CSE under its new name, its new ticker symbol "PNGC" and its new CUSIP number 69356K100 on August 12, 2021.

Qualified Person

Mr. Ian Taylor, MAusIMM(CP), a consultant to the Company, and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has approved the applicable contents of this news release.

About Golden Birch Resources Inc.

Golden Birch Resources Inc. is a mineral exploration company focused on acquiring, exploring, and developing quality mineral properties in Papua New Guinea. The Company's core values are respect for the Community, the Landowners, the environment and operating a safe workplace for its employees. The Company is also committed to best practice standards of Corporate Governance.

For further information please visit the Company's website at www.goldenbirchresources.ca or contact:^[3]

Iain Martin, Director, interim CEO and PresidentGolden Birch ResourcesTel: +1 705 288 0249martiniainr@gmail.com^[4]

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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

Forward-Looking Statements

This Press Release contains forward-looking information within the meaning of applicable securities laws. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Forward-looking information in this news release includes, but is not limited to, information concerning the proposed Offering and the use of proceeds therefrom, the Company's objectives, goals or future plans, statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties which may cause actual results to differ materially from the statements made.

These assumptions include assumptions relating to the likelihood of the private placement being completed on the specified terms, industry assumptions relating to, the price of copper, gold and other metals, currency and interest rate fluctuations, and assumptions concerning mineralization, mineral recoveries, the ability to conduct exploration activities in Papua New Guinea, and assumptions concerning COVID-19. Factors that could cause actual results to vary from the Company's stated expectations include, but are not limited to, demand for the private placement being weaker than expected, such that the private placement might not be completed on the expected terms, or at all, mineral price and exchange rate fluctuations, increased competition and general economic and market factors, potential mineralization not being as anticipated, uncertainties inherent in the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates.

Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92697^[5]

References

1. ^{^} https://orders.newsfilecorp.com/files/8090/92697_1efcb96d74413acb_001full.jpg (orders.newsfilecorp.com)
2. ^{^} https://orders.newsfilecorp.com/files/8090/92697_img2.jpg (orders.newsfilecorp.com)
3. ^{^} www.goldenbirchresources.ca (www.newsfilecorp.com)
4. ^{^} martiniainr@gmail.com (www.newsfilecorp.com)
5. ^{^} https://www.newsfilecorp.com/release/92697 (www.newsfilecorp.com)