NEWS ON SEDAR [ CLOSES STRATEGIC INSTITUTIONAL PP ]STARR PEAK CLOSES STRATEGIC INSTITUTIONAL PRIVATE PLACEMENT Vancouver, British Columbia – August 16th, 2022 – Starr Peak Mining Ltd. ("Starr Peak" or the "Company") (TSXV:STE) (OTCQX:STRPF) is pleased to announce that it has closed a nonbrokered private placement of 2,879,743 flow-through units (the “Units”) of the Company at a price of $0.95 per Unit for gross proceeds of $2,735,755.85. Each Unit consists of one flowthrough common share and one-half of one share purchase warrant, with each share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $1.40 per share for a period of 18 months from the closing date. In connection with the closing, the Company will pay finder’s fees of up to 6% cash to two finders. The flow-through shares and warrants comprising the Units are subject to a hold period expiring December 16, 2022. The proceeds from the financing will be used for the ongoing drill program and exploration work on the Company’s Quebec properties.